ENTREPRENEURSHIP AND INNOVATION PROGRAM 2010

UNIVERSITY OF MARYLANDHONORS COLLEGEENTREPRENEURSHIP ANDINNOVATION PROGRAM2010-201910-YEAR RETROSPECTIVE

A great place toLAUNCHThe Entrepreneurship and Innovation Program (EIP) providesUniversity of Maryland Honors College freshmen and sophomoreswith an interdisciplinary, living and learning education to help build theentrepreneurial mindsets, skill sets, and relationships needed to developinginnovative, impactful solutions to today’s problems.EIP is a joint program of the Honors College, the A. James Clark School ofEngineering, and the Maryland Technology Enterprise Institute (Mtech).EIP has a proven pedigree of success through Mtech, a leading force inentrepreneurial education and innovation for more than 25 years. EIP isbased directly on Mtech’s groundbreaking Hinman CEOs program, the firstundergraduate living-learning entrepreneurship program in the UnitedStates. EIP students have access to a broad and growing array of campusventure development resources including seed grant funding, makerspaces,business/market research reports and databases, entrepreneurs-inresidence, and patent/legal advisors.While we have a strong technology heritage, EIP is an excellent programfor any student interested in entrepreneurship and innovation. Nearlyhalf of EIP students are pursuing non-technical majors, such as business,psychology, music, English, education and government/politics. And ofcourse EIP is at the University of Maryland, which was ranked by Kiplinger asa 2019 Best College Value.“I would have neverdreamed a two-yearprogram wouldimpact me thismuch, but it has.”-ASHMI SHETH, ‘142UMD INNOVATION FELLOW,ASSOCIATE SUPERVISOR,FEDERAL RESERVE BANK OF NYEIP 10-YEAR RETROSPECTIVE

A letter from EIP Director,JAY A. SMITHIt is my honor and pleasure to welcome and engage over 800 amazing students at theUniversity of Maryland since the launch of EIP in 2010. Our students comprise some of themost academically talented and engaged members of the UMD community. They come from awide variety of backgrounds and experiences. While most are from Maryland, others join fromacross the country and around the world.We view entrepreneurship as a way of thinking, doing and being that can be applied to mostaspects of work and life. It is an exercise in self-expression, team building and problem solvingto create new value in the world. The study and practice of entrepreneurship helps individualsof all cultures to develop important personal, life and career skills in areas such as creativityand leadership, and helps build self-confidence. Concepts and methods studied in the programinclude opportunity recognition, value creation, design thinking, business modeling, and projectplanning. These can be applied throughout a student’s academic and professional careers.Our program’s mission, vision, and values, as well as our goals and achievements, align directly with the core values andaction principles of the university’s strategic plan: to build an inclusive community; embrace the power of technology; actwith entrepreneurial spirit; partner with others locally and globally; foster transformational change; enhance contributionsto society; elevate our rank among world-class universities; and attract the best faculty, staff, and students. We have alsobeen allied and engaged with the university’s endeavor to forge itself as a Do Good Campus.I am proud of the national recognition we have received, as well as our role in helping the university as a whole advance toNo. 3 in national rankings for undergraduate entrepreneurship education among state universities, and No. 8 overall.Most importantly, I am grateful for the daily opportunity and experience to nurture such a wonderfully creative, smart and,of course, talented variety of students as they develop and build their lives. To quote one of UMD’s most famous alumni,Jim Henson, “It’s a wonderful life and I love it.”EIP 10-YEAR RETROSPECTIVE3

small-college feelLiving-Learning Programwithin a largeresearch universityEIP students live together in LaPlata Hall for both years of the program,creating a rich, diverse and dynamic atmosphere conducive to the freeflow sharing of ideas, team-building, and entrepreneurial activity. Earlycoursework focuses on critical thinking skills, opportunity identificationand assessment, and the development of creative, sustainable solutions.EIP students represent a broad cross-section of undergraduates fromdifferent majors and demographic backgrounds. Being exposed to sucha diversity of students over an extended period of time provides a fertileenvironment for sharing, blending and generating novel solutions thatintegrate many different points of view. Cross-disciplinary teams formeasily, blending students’ skills to develop the next great idea.4EIP 10-YEAR RETROSPECTIVE

Developing anentrepreneurialmindsetBusiness modeldevelopment inglobal settingFRESHMANYEARCurriculum DesignOpportunity recognition,Innovation, & valuecreationSOPHOMOREYEARFor-profitenterprise withsocial impactThe EIP academic program combines classes, taught by faculty with extensive academic,professional, and entrepreneurial experiences, with the wide range of additional educationopportunities offered by a large research institution. The EIP Honors Citation requires 15 credits.Four courses, totaling 9 credits over two years, are exclusively available to EIP students andare taken one per semester for each of the first four semesters. Six of these EIP credits may beapplied toward a Minor in Technology Entrepreneurship.Key Features: 4 EIP courses (9 credits)6 additional creditsHonors SeminarsTeam projectsExperiential learningCase studiesOnline simulationsCo-curricular workshops Entrepreneur guest speakersDesign thinking exercisesCreativity projectsLean startup methodologyProject managementSustainable business modelsEnvironmental and social impactGlobal perspectiveEIP 10-YEAR RETROSPECTIVE5

Projects and EventsStudents are part of an experiential learning modelcomprised of dynamic courses, seminars, workshops,competitions, volunteering and company creation activities.They participate in a variety of creative and innovativethinking exercises and hands-on projects. Students developtheir business ideas and create team-based productand service plans in collaboration with faculty who havelaunched, operated, and advised successful ventures.Projects and events include: Do Good ChallengeDo Good ShowdownGumball ChallengeInstant ImpactLife CardsNIST T-MAP Ropes challenge courseShopify ChallengeSocial Entrepreneur CorpsStartup SubgroupTerp RocketTerp Tank“EIP is great because you meet a lot ofpeople and are challenged to think outsidethe box and be creative.” -CINDY TSENG, ‘136FINANCE AND MARKETING MAJORS,SENIOR KEY ACCOUNT MANAGER,AGODAEIP 10-YEAR RETROSPECTIVE

Capstone ProjectThe EIP capstone project is the culmination of twoyears of study in the program. EIP second-semestersophomores work in teams to develop a for-profitbusiness plan that achieves multiple bottom-lines ofboth profitability and social benefit. These projectsaddress the global necessity to develop and implementsolutions to critical social and environmental concernsin ways that are both technologically viable andeconomically sustainable.Teams showcase their capstone project in the “TerpTank” competition, to a panel of judges for the chanceto win cash prizes from supporting sponsors.EIP 10-YEAR RETROSPECTIVE7

EIP BY THE1The mission ofEIP is to foster anentrepreneurialspirit, create a senseof community andcooperation, anddevelop ethical andinnovative leaders.EIP 10-YEAR RETROSPECTIVE125In-State Students:TESTUDOAveragenumber ofstudents pernew cohort84%82CAPSTONE TEAMS821ENROLLMENTSUNDERREPRESENTEDMINORITY STUDENTS4.6MEDIAN GPAFOR STUDENTSENTERING EIP20%16%of EIP students havereceived Banneker-Keyacademic scholarshipsEIP STUDENT MAJORS38%ENGINEERING32%BUSINESS*INCLUDES: AGRICULTURE, ARABIC STUDIES, ARCHITECTURE, ART, DANCE, ECONOMICS,

it of MarylandAward WinnersCommencementSpeakers1418%907 36,000 WON BY EIP STUDENTSTHROUGH THEDO GOOD CHALLENGE14case competitions andhackathons won by EIPstudents, including Deloitte,IBM, KPMG, PWC, Target,Twitch, and Unilever.COMPUTER SCIENCE/MATH/SCIENCESPhilip MerrillPresidentialScholars16ventures created12%In 2019, for the ninth consecutive year,UMD was named one of the top schools forundergraduate entrepreneurship education,rising to No. 3 among public institutions andNo. 8 overall.The United States Association for SmallBusiness and Entrepreneurship (USASBE)selected EIP as a winner of a nationalaward for excellence in entrepreneurshipeducation.4Emmys won byLocastro Design LLC,an EIP alumni ventureOTHER*EDUCATION, ENGLISH, GOVERNMENT & POLITICS, MUSIC, PHILOSOPHY, PSYCHOLOGY, AND SOCIOLOGY.EIP 10-YEAR RETROSPECTIVE9

“We’re not an educational group.we’re not a class.we are a culture.”-RYAN TOMMINS, ‘14FINANCE AND OPERATIONS MANAGEMENT MAJORS,SENIOR ANALYST, CAPITAL SOLUTIONS,LPL FINANCIALStudent LifeLiving in LaPlata Hall, students are close to other livinglearning programs, the recreation center, athletic fields,and dining hall. In addition to formal program academics,co-curricular programs and venture development activities,students participate in a variety of social activities to fosterrelationships and build community within EIP.Activities typically include: 10Welcome eventsT-shirt design contestHoliday partiesStudy break activitiesIntramural sportsEIPaloozaYear-end celebrationsHonors Citation CeremonyEIP 10-YEAR RETROSPECTIVE

EIP AlumniThe experiences and knowledge students gain in our programprepare them for starting their own ventures, as well as forinternships and full-time positions across diverse fields. Whilesome of our students launch companies during or right aftercollege, most take positions in organizations such as Amazon,Google, Lyft, Disney, Deloitte, McKinsey, Accenture, GoldmanSachs, T. Rowe Price, Under Armour, W.L. Gore, Target, JHU APL,Northrop Grumman, Lockheed Martin, and the U.S. Navy. Othersattend graduate and professional schoolsincluding Harvard, MIT, Oxford, UCBerkeley, Georgia Tech, Columbia, NYU,and the University of Maryland, in fieldssuch as business, engineering, publicpolicy, medicine, and law.RE HIGHLIGHTSSTUDENT VENTUSYNAPTO“EIP helped me mostwith developing myentrepreneurial mindset.I now look at differentproblems people face everyday and see them througha different lens. Engineerslook at problems one way,but EIP has helped me seethe complex componentsthat are part of worldwideand social problems well.The program has given mea toolkit to see opportunitiesand solutions.”-BROOKE NESSELT, ‘19MECHANICAL ENGINEERING MAJOR,BUSINESS ANALYST, STRATEGY &OPERATIONS CONSULTING, DELOITTEEIP 10-YEAR RETROSPECTIVE11