Experiences of Successful Center Directors - Baylor University

CARNEGIE MELLON UNIVERSITY
John R. Thorne is Director of the Donald H. Jones Center for Entrepreneurship
and the David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship at
Carnegie Mellon University. Known for its research, Carnegie Mellon has a
balanced approach to entrepreneurship. Students get plenty of practical experience
while being taught by leaders in the field.
■ A private, small co-educational university of 7,300 students attending either
the Graduate School of Industrial Administration, Heinz School of Public
Policy and Management, College of Fine Arts, College of Humanities and
Social Sciences, Carnegie Institute of Technology, Mellon College of Science
or the School of Computer Science. Of the total, 2,600 are graduate students.
■ The first course in entrepreneurship was taught in 1972; the first chair was
endowed in 1986, and the Center was endowed in 1990.
■ There are now nine graduate courses in entrepreneurship (which is a
concentration) and three undergraduate courses (including one for scientists
and engineers).
■ There are three full-time faculty and about six adjunct faculty.
■ The total endowment of the program from all sources is about $2.5 million.
■ Outreach activities include the Enterprise Corporation (an affiliated nonprofit
corporation which assists entrepreneurs in developing their ideas into
businesses), seminars and continuing education, and working with alumni.
■ High-quality entrepreneurship research is being pursued by a combination
of Ph.D. students, entrepreneurship faculty and senior faculty, including a
Nobel Laureate.
■ Key success factors include focusing on excellence in all activities and
support of the academic community.
■ If you want to start a program today: (1) have a very strong person with
substantial entrepreneurial experience committed emotionally and personally
to pursue it, drive it, sell it and organize it; (2) raise $3 million to $5
million; (3) form and use an advisory board; (4) visit other programs; and
(5) gather all the information you can.
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