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Edge students study projects for viability
By Paula Schleis Beacon Journal business writer
Published on Tuesday, Jul 31, 2007
It's probably no surprise that many chief executives have business proposals they're too busy to explore.
But this summer, they were given the opportunity to turn their neglected ideas over to college students eager for real world experience.
In a new summer internship program operated by Entrepreneurs Edge, a nonprofit formed in 2006 to help Northeast Ohio midmarket companies and their chief executives, the business majors studied the feasibility of six concepts that might otherwise be languishing in some forgotten drawer.
Today, the teams are reporting their findings to their respective companies.
Chad King and Jason Shuldberg of Kent State University will be telling Davey Tree how it might turn a $2.8 million tree disposal annoyance into a $9.6 million benefit.
Brian Taillon and Jeremy Schroder of the University of Akron will be informing Carroll Manufacturing in Avon that folks are hungry for edible paper treated with seasonings, but they're not biting on the concept of edible ink images of athletes on ballpark buns.
And KSU's Laura Ciccarelli and Rich Lasek will be delivering some good news to former Davey Tree Chief Executive Doug Cowan, who wondered whether there was a market for phone- and Web-based office assistants for busy retired executives.
Last week, they and other teams from Case Western Reserve University and John Carroll University tested their presentations on a small group of college instructors and company executives. The audience lobbed questions designed to help them perfect their reports, such as challenging financial figures or pointing out informational gaps.
Program director Mike Shafarenko said the two-month paid internship isn't meant to be an empty exercise. Chief executives were given the opportunity of taking their ideas back for implementation, or offering them up for others to pursue in the spirit of stimulating new businesses in the region.
On Aug. 28, the projects will be presented again to investors, serial entrepreneurs and others who can provide advice or insight to help the business plans succeed.
The program was paid for through grants, including from the Hudson-based Burton Morgan Foundation and the Harvard Business School Club of Northeast Ohio Foundation. Companies that intended on taking their ideas back chipped in as well.
Entrepreneurs Edge founder Kirk Neiswander hopes more executives will participate in the program next year now that they see how it works.
''Once we get some publicity from this and we show this thing will work and that we can get good quality students to do some good analysis and due diligence, I think we'll get more willing'' to share their ideas, he said.
UA's Taillon said the internship was a great bridge from the academic world to the real one.
''You can sit and listen to a professor tell you all about marketing and analysis, but until you actually do one that isn't a case study in the back of the book but . . . one that an entrepreneur is looking to invest money and resources in developing and you're part of that, how exciting is that?'' Taillon asked.
He also lauded the overarching mission of Entrepreneurs Edge to impact the local economy.
''To be involved with an organization that is promoting Northeast Ohio as having lots of opportunity and great potential, it's refreshing,'' Taillon said.
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
It's probably no surprise that many chief executives have business proposals they're too busy to explore.
Get the full article here.
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