Events Calendar
In This Section
Most Read Stories
Suitcase causes bomb scare at Akron bus terminal
Akron City Council OKs higher speed on I-77
Chapel Hill isn't rolling right along
Motorcyclist killed, wife injured in Stark County crash
New eateries expand menu of options
Man says he was punched, robbed by 3 people in parking lot
Patrick McManamon: Here's what the Browns should try the rest of the season
Louisville athlete commits to play for Boston College
Family found dead in Ohio home
Blogs:
Pets:
It Takes All Kinds
The Heldenfiles:
Tuesday Notebook
Patrick McManamon:
An interesting thought from a reader
Akron Zips:
Akron vs. Mount Union — Liveblog
Tribe Matters:
Indians announce spring dates
Cleveland Browns:
Mangini doesn't name a quarterback
Kent State Sports:
Flashes interested in another Cincinnati player
Cleveland Cavaliers:
Shaq: It’s All About Winning Championships
Buckeye Blogging:
Buckeyes Roll 100-60 / Season Outlook
Varsity Letters:
Report: Walsh baseball player commits
All Da King's Men:
More On The Fort Hood Jihadist
Blog of Mass Destruction:
Simply Incapable of Telling The Truth
Akron Law Café:
Health Care Financing Reform: (63) Commonwealth Fund Report on Primary Care
See Jane Style:
Muffle Your Muffler
Car Chase:
Clock Tender- Extending the Life of Collector Car Clocks
Let's Talk Real Estate:
Rumors: Akron Starbucks Closing
Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.
Sound Check:
Aeromsith looking for new singer as Steven Tyler contemplates solo career
HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio
Akron Gamer:
Video: 'Modern Warfare 2' hits the streets
Venture capital program revived as teaching tool
Published on Sunday, Dec 30, 2007
Associated Press
OXFORD: A Miami University professor has helped revive a student-managed venture capital fund that aims to energize businesses founded and run by university students and recent alumni.
The Miami University Student Venture Fund was founded several years ago with help from donors such as Cincinnati-based Procter & Gamble Co. But it fell dormant until Jeff June brought it back as a teaching tool.
June offered academic credit to undergraduates for reorganizing the fund and making it more user-friendly. Students run the day-to-day operations of the fund, which has increased amounts given to new businesses from $5,000 to $25,000.
The fund also has extended eligibility to Miami graduates, as well as students. Faculty members have final approval for funding a project.
With a total value of about $300,000, the fund's investments are considered seed money for businesses that show promise. The investments won't make huge profits for the school, but the point is to support new businesses and give students real world exposure, said Jack Tench, a senior and one of the four students who administer the fund.
''I think it's really cool that I'm 22 years old and I'm doing conference calls with CEOs,'' he said.
The fund's first investment was in Chicago-based GoPicnic, which is run by 1996 Miami graduate Julia Stamberger. The company sells high-quality portable meals that give business travelers an alternative to ordering at airports or through room service.
GoPicnic is the third company Stamberger has started, so her application for the maximum $25,000 from the Miami fund was well-written. Stamberger worked in the travel industry and knew the market, and her long-range business and marketing plans were credible.
The money Stamberger received was a small part of the approximately $1 million she raised in her first round of investment funding. But it represents an ongoing relationship she's maintained with the university: She's hired Miami students as interns and graduates as staff members for GoPicnic.
Applicants need to present a business profile that demonstrates long-range planning and a marketing strategy and this weeds out less-than-serious candidates, Trench said.
But even if someone isn't ready for applying for investment capital, June and the student managers are willing to give guidance.
''Ventures coming to us don't always need money but need help with marketing or developing a Web site,'' June said. ''We can point them in those directions, too.''
Get the full article here.
Comments
Click here to post your comments
