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THE UNIVERSITY DAILY KANSAN
TUESDAY, FEBRUARY 18, 2014
PAGE 3
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BUSINESS
New program accelerates student startups
BRENT BURFORD/KANSAN
The KU Catalyst, a new joint project of the School of Business and the Bioscience and Technology Business Center, allows teams of students to explore their start-up ideas by providing them with space, equipment mentorship, additional education and capital.
Story summary
- Program offers space, mentorship, education, prototyping, access to capital and equipment
MCKENNA HARFORD news@kansan.com
The KU Catalyst, a new joint project of the School of Business and the Bioscience and Technology Business Center, allows teams of undergrad and graduate students to explore their startup ideas by providing them with space, equipment, mentorship, additional education and capital.
- Students must be in teams and have a business plan, supply a check and prove validated customer interest to apply
According to Wallace Meyer, the director of KU's entrepreneurship programs, the goals of the program are to provide students with opportunities to "commercialize their passions" and to add to the local economy.
"It not only provides [students] with post-graduate employment, but what it also does is allows them to be their own boss, it allows them to realize their dream and it gives them a straight shot at acquiring significant financial wealth." Meyer said.
- Program is open to all KU students
- Catalyst Mission Statement: Provide the resources to achieve entrepreneurial change for students at the University of Kansas
The project responds to an increasing student demand for entrepreneurial opportunities and provides a launching point for groups.
"This millennial generation is highly interested in starting and growing their own business, so that natural growth we think will be represented in the Catalyst by there being more and more teams of students who will use the Catalyst's resources to be able to launch their businesses," Meyer said.
Teams will have access to a workspace in the BTBC building and mentorship from a board of advisors, which consists of more than 30 professionals.
WALLACE MEYER director of KU entrepreneurship programs
gram, the teams must present a business plan and show validated customer interest. Teams must also provide a check, which is spent against the business. Meyer was clear that the money doesn't go to the program, but instead is part of the business capital
In order for students to be a part of the Catalyst pro-
"It allows them to realize their dream and it gives them a straight shot at acquiring significant financial wealth,"
"They need to provide what is called in the vernacular 'skin in the game,'" Meyer said. "We are asking them to contribute to their own success by writing a check. The check won't be very much, but it is consistent with the idea that sweat equity alone won't be sufficient."
The incubator program differs from other universities' programs because it focuses on the success of the students and doesn't ask for ownership in exchange for the space.
"We are solely interested in supporting student new business start-ups and providing the resources necessary to do that without compensation," Meyer said. "For a startup company that is hard pressed for cash, that's a huge benefit."
The set-up also lends itself to expansion as the program continues to meet demand. More space will also be added in the new business building when it is completed in 2015-2016.
Because of the unique setup of the program, groups
like U-Hoops, a company that helps basketball players find a future in the sport, get access to a support system and the guidance needed to grow their business.
"It helps us to make sure we are growing in the right direction," U-Hoops member and grad student Andy Kriegh said. "It also helps having it on campus and accessible."
Grad student Lei Shi is part of a team working on a radar system that would help Unmanned Aerial Vehicles (UAV) avoid collisions so they could be used for civilian purposes. He says that because of the support system, students who have no business experience get the opportunity to bring their ideas to a
"I think if it were left purely up to us on the engineering side it would remain this dream, but I think it's important that with the Catalyst involved here we can at least take a shot at making it reality," Shi said.
market and have an impact.
Edited by Austin Fisher
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HEALTH FROM PAGE 1
ever experienced any of those with the NuvaRing," said Katie Reynolds, a sophomore from Lawrence.
According to the National Women's Health Network, Depo Provera, manufactured by Pfizer, can cause women to lose bone mineral density. This puts them at high risk for osteoporosis and bone fractures. In 2004, the Food and Drug Administration (FDA) issued a "black box warning" on the shot because of long-term use causing bone issues that could be irreversible, according to Avvo, a legal counsel website. A black box warning is the FDA's sternest warning it can issue to a product while it still remains on the market.
The Feminist Women's Health Centers of California say that women can experience depression, anemia and a higher risk of breast cancer if using Depo Provera under the age of 35.
According to the CDC, about 50 percent of pregnancies in the United States are unintended.
The Affordable Care Act has made the full range of FDA-approved prescription birth control methods free under many insurances, so women have the option to use contraceptives to prevent unwanted pregnancies.
If a woman is not insured, she can apply for Medicaid under the Affordable Care Act through the Health Insurance Marketplace. PlannedParenthoodHealthInsuranceFacts.org has all the information of what this law does for women and their need of birth control.
"The Affordable Care Act helps citizens take care of themselves better," McKee said. "It's emotionally and financially less of a hardship to avoid an unwanted pregnancy."
- Edited by Emily Hines
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