The Lawrence N. Field Center for Entrepreneurship at Baruch College is welcoming undergraduate students from the Universidad Technologica de Chile for the second annual New York Entrepreneur Project, January 6-17.
“This 10-day program has been designed as a ‘crash course’ in financial literacy and entrepreneurship,” explains Monica Dean, Administrative Director of the Lawrence N. Field Center for Entrepreneurship. “It will teach South American students about the financial markets here in the United States and give them the tools to create their own business plans and prototypes in order to launch their own products.”
Lessons will be incorporated from the CUNY Institute for Virtual Enterprise, an entrepreneurial education program that provides students with the necessary tools to learn how to become entrepreneurs from idea creation to launch. Students develop and manage global entrepreneurial virtual enterprises (VEs) in an online business environment, where they can trade their goods and services in a closed global economy with participating firms and students from all over the world. The site, www.ivefinancial.com, uses a special online tool, MarketMaker, which is comprised of a virtual bank, credit card, e-commerce system and a stock market.
“This year, we’ve added two new components to help students conceptualize their business ideas and get their companies off the ground,” says Dean. “Students will be exposed to 3D printing technology to prototype the products that they will create for new businesses. They will also learn how to gain financial backing for their businesses by developing crowd funding campaigns.”
The New York Entrepreneur Project will include trips to Google, Nasdaq Marketsite, New York Stock Exchange and Museum of Arts and Design, where students will learn more about the stock market and how 3D printing is shaping the way new products are made. Guest speakers, including successful Baruch alumni who have launched their own products, will also be invited to the classroom to share their experiences. Faculty from Baruch’s Zicklin School of Business as well as current MBA students will assist the students as they work in teams. At the end of the 10 days, students will create an elevator pitch and formal presentation of their new business ideas.
“The New York Entrepreneur Project is designed to be instructional and interactive, and to provide the student and faculty participants an active learning experience that they can continue upon return to their respective universities,” says Dean.
The Lawrence N. Field Center for Entrepreneurship is a model of entrepreneurship education built around the collaboration of an institution of higher education, government, and the private sector. Faculty and students from Baruch’s Zicklin School of Business, Baruch’s Small Business Development Center (SBDC) Business advisors, alumni and volunteers are brought together to support the entrepreneurial endeavors of start-ups and established businesses and the college’s constituents. Since its inception in 1993, the Center’s role as an engine for economic impact has been substantial-16,277 businesses have been served, $110,551,952 invested in the area’s economy and 5,676 jobs have been saved or created.