Entrepreneurship ranking places Wake Forest among top 13 national universities

3.28.2006 Entrepreneurship, News Release, School News

Wake Forest University ranks in the top tier of national colleges and universities for entrepreneurship in the fourth annual ranking by TechKnowledge Point Corp.

Wake Forest is among the top 13 schools listed in the top tier of the survey results, which this year are available online at www.entrepoint.com after being published in Entrepreneur magazine the past three years. Last year, Wake Forest ranked in the second tier of the national category, which placed it among the top 26 in the nation.

TechKnowledge Point, an entrepreneurship and business development research firm, ranks the top 100 entrepreneurship programs in the United States from a survey of nearly 800 colleges and universities, using more than 75 specific program-profile variables. The survey classifies programs across three categories: comprehensive programs, emphasis programs and limited-curriculum programs. The comprehensive programs are further classified as institutions with either a national or regional prominence, with the 50 programs in each of these categories making the nation’s top 100. Wake Forest placed in the top tier of the national category.

“It’s an exciting time to see how entrepreneurship at Wake Forest is adding significant value to the careers of our students and alumni,” said Stan Mandel, director of the Angell Center for Entrepreneurship at Wake Forest’s Babcock Graduate School of Management. “We’ve seen a pattern of students seeking us out to be part of an entrepreneurial venture—of their own choosing or within a corporate setting. Alumni are re-engaging for the same reasons. It’s rewarding that the contributions of our students, faculty and other stakeholders of the program are recognized in this ranking.”

Rankings are compiled from a combination of primary survey information from faculty, center directors, deans and program heads, along with public secondary data culled from college program catalogs, viewbooks and Web sites. National and regional comprehensive programs feature the greatest depth and breadth of resources, including a wide range of course offerings and a large staff of experienced faculty whose teaching and research relate to entrepreneurship. Schools with comprehensive programs have a dedicated entrepreneurial studies center and one or more specialty research institutes. Business plan competitions, mentoring programs, and incubator or tech-transfer programs are other features. Comprehensive programs also offer both graduate and undergraduate programs in entrepreneurship.

The Angell Center for Entrepreneurship at Wake Forest’s Babcock Graduate School of Management offers several programs that foster entrepreneurship. They include the Babcock Elevator Competition, the Babcock Demon Incubator and the Family Business Center, which has programs that serve the N.C. Triad and Charlotte Metro regions. The Angell Center also hosts the finals of an annual national entrepreneurial case-writing competition.

The Elevator Competition, which this year will be held April 8 in Winston-Salem, gives entrepreneurial MBA students an opportunity to take their business ideas literally from the ground floor to the top during a two-minute elevator ride with a venture capitalist. In addition to nearly $50,000 in cash and professional services, the winning team enters discussions with one or more venture capital firms with the possibility of receiving funding.

The center’s business incubator, opened in 2001, offers office space and Internet access for growing businesses. It houses three to five start-up businesses, with tenants admitted on a rolling basis throughout the year having the option of 12 months to grow and find a permanent location. The goal is to launch businesses that have the potential to create economic impact in the Triad through jobs and business investment.

The Family Business Center was established in 1999 and expanded in 2003 to include a program in Charlotte. Each year, the center holds forums and offers member services that help build stronger families and businesses.

The national case-writing competition features MBA students who present original teaching case studies with teaching notes based on their internship experiences in either traditional or social entrepreneurship settings.

More information on the Babcock School’s entrepreneurship offerings through the Angell Center is available at www.mba.wfu.edu/ace.