Entrepreneurship Center

What is the Entrepreneurship Center?
The Entrepreneurship Center is an ongoing project to develop a resource for Hampshire College Students to move from ideation to actualization.

Entrepreneurship is the art of turning ideas into action. Hampshire has embodied the entrepreneurial spirit throughout its history and pedagogy. However, both the imagination and the actions of our students are constrained by a lack of dedicated support. The Entrepreneurship Task Force has gathered to build on Hampshire’s existing strengths, and support all students as they connect thinking and doing -- To Know is Not Enough.

Seed Fund For Innovation Steering Committee Application
Please review the Committee Charge below before applying:

https://hampshire.co1.qualtrics.com/SE/?SID=SV_6QFv003Veynnga1

What is the Hampshire Seed Fund for Innovation?
The Hampshire Seed Fund for Innovation (SFI) has been funded by a Hampshire alum to support the development of innovative and entrepreneurial student and recent alumni ventures.

What is the role of this steering committee?

 * This steering committee has been created to develop the organizational framework of the SFI, and to set the guidelines for administering and awarding funds. Currently, there is $1 million to be disbursed over the next five years. In keeping with the donor’s vision we provide the following parameters:
 * Students will have full control over the awarding of the entire Fund. College administration will have no say in how these funds are allocated.
 * If the funded student’s venture succeeds, it must in some way give back to the Hampshire College community (specifics to be determined).
 * Qualifying ventures should have the potential to generate revenue.

What is the current status of the project?

 * Funds have been committed by alumnus Michael Vlock and the gift has been officially announced.
 * Discussions have been initiated with key constituents on campus, including:
 * The President’s Office
 * College Advancement and the College Trustees
 * The Creativity Center and existing entrepreneurship resources on campus
 * Five College Risk Management
 * New Student Programs and the Dean of Students


 * The project has been presented at the October 17 Town Hall meeting.
 * The process for developing an Intellectual Property Policy for Hampshire College is well underway, and members of the Entrepreneurship Task Force are on that committee.

What are the general expectations of steering committee members?

 * Attend a 1-2 hour weekly planning meeting
 * Spend 1-3 hours per week working on the project outside of meeting times
 * Weekly updates to the Task Force
 * Work in partnership with faculty, staff, administration and other students

Steering Committee Guidelines
The SFI student team, with the support of college staff/faculty, will be responsible for:
 * Further defining the purpose of funds and parameters of eligible projects
 * Protecting control of funds for students
 * Finalizing bylaws and operational structure (channeling funds, liabilities, etc.)
 * Gathering resources and continuing discussions with relevant key constituents

Purpose of Funds
''The SFI student team should develop an appropriate strategy for the administration and growth of a competitive and sustainable fund to motivate and enable students and recent graduates to innovate and turn ideas into action. Specifics to be determined include:''
 * Range of award amounts
 * Target number of seeded or launched projects
 * Distribution of awards to funded projects (i.e. one time infusion or several installments with benchmarks for progress)

Leadership and Administration of the Fund
''The SFI student group should develop a structure for management/leadership. This structure should:''
 * Allow students to be heard
 * Provide continuity year to year
 * Set up a fair and equal system of reviewing applicant proposals
 * Gather and energize a group of student judges to allocate funds during each funding round
 * Convene an advisory board of entrepreneurial alumni and practitioners
 * Develop a rubric or criteria by which proposals will be judged
 * Help place this initiative in the broader framework of the team’s mission for the College

Relationship with College Administration
''As a revolutionary and distinctive new program for the College, new policies will need to be instituted to support this program, requiring input from a number of different constituents. Points of collaboration include:''
 * Risk management
 * Flow of funds
 * Where the funds will be held
 * How students will access the funds
 * Drafting a clear charter for use of funds (awards, administration, legal)
 * Accountability and reporting in alignment with above charter


 * Intellectual property policy

Relationship with Entrepreneurship Task force

 * The Entrepreneurship Task Force is a group of students, alumni and faculty that has been working since Spring 2013 to put forward Hampshire’s entrepreneurship agenda.
 * The Vlock Fund Steering Committee will maintain constant contact with the Task Force to ensure agenda goals are being met by the committee.
 * A member of the Task Force will serve as a liaison between the two groups.

Timeline
November
 * Nov 1st - nov 6th         Applications for the steering committee are open
 * Nov 14th				Committee members are announced
 * Nov 16th - 18th 			First official meeting of the committee
 * Establish weekly meeting times
 * Review expectations and objectives
 * Highlight key objectives
 * Establish Timeline and Agenda for future weekly meetings

December
 * Discussions on the purpose of the funds
 * Discussions on management and leadership

Spring semester (February 2014 - April 2014)
 * Set up funding parameters
 * Develop parameters for relationship with administration
 * Develop a structure for management/leadership
 * Set up online presence and information system
 * Design funding application
 * Launch application in-line with the approval (probable) of an Institutional IP policy