UMR was recently ranked 22 among 357 campuses for entrepreneurship in a survey conducted by Forbes magazine and the Princeton Review.
Schools were ranked based on such criteria as the number of alumni who are prominent entrepreneurs, school-sponsored programs specifically designed to help students launch businesses, and research grant relationships with corporations or government agencies.
UMR was recognized for a senior capstone course in the School of Management and Information Systems that gives students real-world experience in launching a business, and for the Residential College’s Global Entrepreneurship Learning Community to be housed in the campus’ new residential complex.
The capstone course, allows the students to form their own companies, develop a product to sell and write a business plan. The plan is presented to a loan board to secure funding for the business start-up. Each "company" designates a local charity to receive any profit left after paying back their loans, says Dr. Ray Kluczny, chair of business administration and associate dean of the UMR School of Management and Information Systems.
"This is great news for UMR," says Dr. Madhu Reddy, assistant professor of business administration and information science and technology at UMR and capstone course instructor. "It shows the hard work that SM&IS is doing in this area is paying off. I’m also happy that our students’ and faculty’s work is being acknowledged. I strongly believe that it is due to the students’ and faculty’s enthusiasm about entrepreneurship that we are so successful."
UMR also works with businesses in the marketplace and faculty to tailor UMR research into a service or product that fits current industry needs. "The UMR campus has embraced entrepreneurship through education, research and service," says Amy Light Mills, executive director of the Center for Entrepreneurship and Outreach (CEO). "It is exciting to consider the impact of these activities on our community and state."
Through the Residential College’s Global Entrepreneurship Learning Community, more than 60 multidisciplinary students each year will be immersed in learning and living through a non-traditional residential setting.
"By bringing business, management, technology and entrepreneurship to our campus we have been able to receive national recognition," says Dr. Arlan DeKock, dean of the School of Management and Information Systems. "It’s UMR’s goal to bring an entrepreneurial culture to the entire campus."