Interdisciplinary
Concentration in Entrepreneurship
Located in Austin and nourished by one of America's most entrepreneurial cities, the Texas MBA Concentration in Entrepreneurship includes an interrelated set of activities that prepare students to:
- Think analytically
- Ask the right questions
- Solve the problems of entrepreneurial firms
- Start a new venture
- Develop and launch new products for existing companies
- Be an entrepreneur in a large firm
Students who concentrate in entrepreneurship benefit from many of the unique resources of the McCombs School and the Austin community including:
- The Herb Kelleher Center for Entrepreneurship, dedicated to funding teaching, research, and community outreach related to entrepreneurship.
- The Hicks, Muse, Tate & Furst Center for Private Equity Finance.
- The Austin Technology Incubator, a highly successful business incubator focused on high-technology start-ups.
- The Capital Network, matching investors with growing companies.
- IC2 Institute, an international think-tank for entrepreneurship.
Who Concentrates in Entrepreneurship?
MBAs completing the McCombs Entrepreneurship Concentration typically fall into three categories:
- MBAs who take traditional jobs with large corporations and consulting firms. These entrepreneurs may be involved in joint ventures or strategic alliances that involve the creation of new business entities.
- MBAs who go to work for entrepreneurial ventures. These MBAs join new ventures and are able to make contributions from day one. These MBAs are in demand among start-ups and growing new ventures.
- MBAs who become entrepreneurs. A small but increasing number of MBAs start their own businesses. Most Texas MBAs who concentrate in entrepreneurship plan to have their own business within five years after graduation. Companies launched by graduates of the McCombs School include:
Ampersand Art Supply
BroadCloud
Canvas Magazine
Fast Tango
Halsa Pharmaceuticals
Interactive Funds, Inc.
Isochron Data Corporation
iVEEA
Manticore Technology
Partnerware, Inc.
Private Concepts
Sol Sports, Inc.
Does the Entrepreneurship Concentration Extend Beyond Formal Classes?
MBA students who want to develop and test their entrepreneurial skills have a variety of competitive opportunities:
- MOOT CORP® Competition
This original business plan competition has continued to grow in prestige and international acclaim since it was conceived and launched by Texas MBAs in 1984. The MOOT CORP® Competition has been called "the Super Bowl of world business-plan competitions" (Business Week - 1993), "the mother of all business-plan competitions" (Success - 1997) and "the granddaddy of them all" (Red Herring - 2000).
The MOOT CORP® Competition simulates the real-world process of raising venture capital. MBA students from top business schools around the globe come to The University of Texas at Austin each year to present their business plans to panels of investors. From among myriad offerings, the panelists select the best new-venture opportunity.
- Venture Capital Investment Competition (VCIC)
VCIC is a one-of-a kind competition in which teams of MBA students from top business schools are placed in the role of venture capital firms deciding among various investment opportunities. These opportunities are real companies seeking venture capital investment. Real venture capitalists select the top teams to win cash prizes. The McCombs School hosted VCIC during 2001 and 2002.
What is the Entrepreneurship Curriculum?
The curriculum has been developed and improved with the input of an advisory board composed of entrepreneurs, venture capitalists, graduates and faculty.
Curriculum
To concentrate in entrepreneurship, students must choose five of
the following:
MAN 385 Entrepreneurial Management: Entrepreneurial Management
provides an overview of the life cycle of an entrepreneurial firm.
Students specializing in entrepreneurship are encouraged to take
this course during the second semester of their first year.
MAN 385 Opportunity Identification and Analysis: teaches students
how to identify and analyze compelling business opportunities.
MAN 385 Gathering Resources and Launch: teaches how to turn a
compelling idea into a real business. Students also gain "hands-on"
experience working with real ventures in launch mode at the Austin
Technology Incubator.
MAN 385 Managing Entrepreneurial Growth: maps out what it takes to
grow a fledgling business to its full potential.
MAN 385 Small Business Consulting Practicum: This course focuses on assisting companies in developing new products or projects for new products.
MAN 385 Advanced Venture Development Practicum: This course is designed for individuals and teams who have developed a business plan for a new venture and seek to implement the plan.
FIN 394 Financial Management of Small Business: charts the stages of
renewal and harvest in a mature business with a focus on value
drivers and business valuation.
MAN 385 New Venture Creation: takes a multi-disciplinary approach
to the preparation and presentation of a business plan. The course
explores evaluating a business opportunity, and the skills conducive
to venture success including team building, organizing, planning,
integrating, and persuading. The course qualifies students to
compete in the Texas Moot Corp® Competition.
FIN 394 Venture Capital Fellows Practicum: The primary objective of this course is to introduce students to cross-functional concepts important to the investment decision making process and management of business enterprises.
LEB 380 Law for Entrepreneurs: During this class students take an
idea and learn how to protect it, build a business around it and
grow that business while minimizing legal and regulatory risks.
MKT 382 Innovations in Business Marketing: This course focuses on issues for companies selling technology-based products and integrates the impact of strategic marketing decisions on the financial performance of the enterprise.
MKT 382 New Product Development: helps students learn how to use
state-of-the-art management techniques to identify markets, develop
new product ideas, measure customer benefits, and design profitable
new products.
Elective Courses
The curriculum provides a wide variety of elective offerings including:
- Corporate Governance
- Enterprise of Technology: Mind to Market
- High Technology Entrepreneurship
- Managing and Marketing in the Global Arena
- Opportunity Creation
- Small Business Finance
Who Are the Entrepreneurship Faculty?
Faculty with a variety of backgrounds teach entrepreneurship. Current faculty includes:
- Rob Adams, Management
- John Butler, Management
- Shelby Carter, Marketing
- Bill Cunningham, Marketing
- John Doggett, Management
- Melissa Graebner, Management
- Ilan Guedj, Finance
- Eric Hirst, Accounting
- Jeff Martin, Management
- Christopher Meakin, IROM
- Steve Nichols, Engineering
- Jim Nolen, Finance
- Bob Parrino, Finance
- Tim Ruefli, IROM
John Butler at john.butler@mccombs.utexas.edu
