Experiences of Successful Center Directors - Baylor University

RENSSELAER POLYTECHNIC INSTITUTE
Mark Rice is Director of the Center for Technological Entrepreneurship at the
Lally School of Management and Technology, Rensselaer Polytechnic Institute.
Termed a “technological university” by Dr. Rice, it is this quality technology that
permeates the entire university, including the arts and humanities. Out of a field
of 500, the Rensselaer Incubator Program was recognized in 1995 by the National
Business Incubation Association as the best technology incubator in the
country.
■ Rensselaer Polytechnic Institute has about 6,400 students, 10% of which
attend the business school.
■ The entrepreneurship program began in 1980 with the founding of the
incubator. The technology park opened three years later, and around 1985
the first courses were taught.
■ There are 19 faculty who teach entrepreneurship on a full- or part-time
basis. Of those, five teach mostly entrepreneurship. In addition, there are
12 staff members.
■ The Center is not endowed. The operating budget is about $250,000.
■ Outreach activities include the incubator and technology park, Venture
Affiliates Program (outreach to entrepreneurs not in the technology park)
and Entrepreneur of the Year Celebration.
■ A variety of research is supported, and the school is the home of the
Journal of Business Venturing.
■ RPI completed a grant to examine how schools infuse entrepreneurship
into their curriculum, and this has influenced the current courses and their
content.
■ Key success factors when starting a center or program include: (1) entrepreneurial
leadership; (2) ability to attract funds; and (3) build a network of
people, both inside and outside the university.
■ Advice to start a program includes: (1) recruiting a core team to develop
and disseminate research, teaching and outreach; (2) recruit and manage
an advisory board; and (3) raise about $5 million.
■ Rice suggests you may fall victim to opportunity overload, which can lead to
doing too many things—especially low-impact or relatively superficial activities.
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