THE UNIVERSITY DAILY KANSAN
THURSDAY, APRIL 19, 2007
NEWS
>> SCHOOL OF BUSINESS
5A
Entrepreneurship courses prove popular
BY ELIZABETH CATTELL
Augusta graduate student Christina Spires is a CEO at age 25. She and three other students run Abacus LLC, a model business for data retrieval software.
They are enrolled in a new venture creation course, which teaches students how to develop a business plan and market products created by University of Kansas faculty.
This course is one of many new initiatives in entrepreneurship education at the University of Kansas that may give students, and the Kansas economy, a boost in the business world.
- Entrepreneurship education has grown considerably at KU in the past year.
The School of Business recently added graduate and undergraduate degree programs in entrepreneurship.This addition placed the University in the top 50 business schools in the nation.
Wallace Meyer, director of the entrepreneurship programs, said there was significant student demand for entrepreneurial courses. After just three semesters, the Introduction to Entrepreneurship class has 116 students, making it the largest elective offered in the School of Business.
Spires, a 2002 KU graduate, said she wished the school offered entrepreneurship courses when she was an undergraduate.
"If I went to work for a company, I would be able to assist with a business plan or do research for a new product," Spires said. "These programs will give undergraduates an edge going into the workplace."
But that edge could help more than students' careers. If Spires and her team do well, their business will go public, adding one more venture to the Kansas economy.
Meyer said commercializing products is a primary goal of the program.
"Entrepreneurship education directly addresses startup companies and growth of small firms," Meyer said. "It better prepares anyone who attends KU to be able to participate in startups and small businesses and thereby contributes directly to the economic growth of "Lawrence, Douglas County and the state of Kansas"
Caleb Asher.
Asher said encouraging entrepreneurship education has been a goal of the state since the Kansas Economic Growth Act was enacted in 2004.
"Entrepreneurship education directly addresses startup companies and growth of small firms."
director of communications and marketing for the Kansas Department of Commerce, said educating students in entrepreneurial skills has a large impact on the Kansas economy.
Asher said many students think they can't be successful as entrepreneurs if they stay in Kansas after graduation.
"We call it 'brain drain'. Not only do students not go back to their hometown, they don't even stay in the state," Asher said. "We need those students right out of college to find that there is a place for them here."
Justin McAuley. Houston senior and minor in entrepreneurship, said he thought there was more opportunity for business on the coast.
The act addressed economic needs of the state identified by business leaders and economic developers.
WALLACE MEYER Entrepreneurship director
The act also established the Kansas Center for Entrepreneurship to help connect entrepreneurs to available
resources in Kansas, Director Steve Radley said the center supplies entrepreneurs with three basic tools: economic resources, expertise and education.
Radley said entrepreneurship education is important at a
collegiate level, because it encourages students to think with innovation and adapt.
"Entrepreneurship is job creation. It's the key to our competitiveness in the global market," Radley said. "I think entrepreneurship offers opportunities for people who want to stay in Kansas."
Meyer said he is working to open a similar center at the University, allowing students and faculty to connect with local resources.
The USSmall Business Association says small businesses and ventures represent more than 99.7 percent of all U.S employers.
a small business, Meyer said entrepreneurship education should matter to all students.
The Kansas Economic Growth Act also addressed the importance of expanding entrepreneurship outreach beyond citizens already involved in business.
The Kansas Technology Enterprise Corporation started.KTEC Pipeline Innovators, a program to mentor budding entrepreneurs in Kansas who come don't come from business backgrounds.
One of the creators is Lisa Friis, professor of mechanical engineering. She said students of all majors can use entrepreneurial skills to develop their ideas.
Fiiis is currently working with Meyer to begin a new product development course for engineering, business and industrial design students. The course would allow students from the three departments to collaborate their skills.
Frisis said that developing entrepreneurship education programs at KU would encourage students to pursue business ventures and ultimately contribute to the state economy.
"We have a responsibility to serve our constituents, not just in education and research for students here, but I also believe we have a role in economic development," Fries said. "I think we're doing our state and the region a disservice if we don't promote that."
Kansan correspondent Elizabeth Cattell can be contacted at editor@kansan.com.
— Edited by Mark Vierthaler
ART
Local stores help Lawrence artists Selling on consignment benefits both
BY JESSICA SAIN-BAIRD
Your neighbor may be making a business out of his photography, paintings and handmade jewelry and you don't even know it.
The buying and selling of handiwork, notably at consignment, has become a growing trend in Lawrence.
"We're able to carry a lot more work by more artists," said Maria Martin, owner of Southwest and More, 727 Massachusetts St. "It allows us to try new styles."
Consignment work in stores is featured for free. The artist, sometimes with the aid of store owners, decides on the selling price. About 15 percent of Southwest and More's work is on consignment, mostly paintings, pottery and other fine art pieces by more than 40 artists, Martin said. Her store's policy is to give 70 percent of the item's selling price to the artist.
The Third Planet, 846 Massachusetts St., sells consignment items to keep money in Lawrence and not have to put capital in some merchandise, said manager Melissa Padeet.
They sell jewelry, artwork, T-shirts and stickers on consignment, she said, and added that locally printed T-shirts became popular during election seasons.
About 10 to 15 percent of the Third Planet's products are on consignment and they give 60 percent of an item's selling price to the artist, Padgett said. She said consignment
has been profitable for the store.
Alina Scalora, Manhattan sophomore, sells hemp necklaces at the Third Planet when she has time. She's sold a few so far, but expects business to increase in the summer, she said.
Some stores opt to buy handmade items outright rather than carry pieces on consignment. MissFortune's Creation Station, 726 Massachusetts St, buys and sells handmade glass pieces, jewelry and clothing items, said owner Jennifer Fortune.
About 15 percent of their products are handmade,which contribute to 20 percent of the store's overall profits. Fortune said.
Southwest and More employee and Lawrence freshman Bridget Lavaveshkul said featuring items on consignment was beneficial to a business, because they never lost money if a featured item didn't sell.
She said consignment work was difficult because of the paperwork and keeping in contact with artists.
None of the stores are concerned about consignment and the business of handiwork losing steam. Martin said she thought one-of-a-kind products would always be in demand.
Consignment and buying handmade work outright is a benefit to both businesses and artists, Martin said.
Kansan correspondent Jessica Sain-Baird can be contacted at editor@kansan.com.
KANSAS LEGISLATURE
Edited by Ashley Thompson
State universities to receive funding for repairs
BY CARL MANNING ASSOCIATED PRESS
TOPEKA — The House Appropriations Committee announced a plan Wednesday to provide $152 million in the next budget year to deal with long-needed repairs at state universities, one day after Gov. Kathleen Sebelius asked lawmakers to spend nearly $63 million for such projects.
While most of the funding would come from state revenue, the plan calls for the six state universities and the communities where they are located to come up with some of the funds.
The proposal includes such things as freeing up $15 million annually by repaying 1996 "Crumbling Classroom" bonds; allowing counties with state universities to impose a 0.10 cent sales tax for repairs;
and repaying $20 million in Regents Research Bonds and shifting $10 million from that to deferred maintenance.
The House plan also would provide $300 million in low-interest revolving loans for schools; require universities to retire old or obsolete buildings; and identify funding for future maintenance projects and operations of new buildings built with nonstate funds.
Also, the regents would receive the interest earned on tuition and student fees to pay for maintenance. The Regents Deferred Maintenance Oversight Board would be created to help keep tabs on the repair projects.
"I am very,pleased we have developed a long-term solution that doesn't rely on one source of funding and will ensure our universities and community colleges are able
to provide safe learning environments for Kansas students," said Chairwoman Rep. Sharon Schwartz (R-Washington).
She also said the oversight board will "make sure Kansas tax dollars are used wisely."
House members will consider the plan when lawmakers return April 25 from their annual break.
The Senate Ways and Means Committee has not released its maintenance proposal, but expects to do so in coming days. Any proposal likely will be worked out by House and Senate negotiators.
Sebelius spokeswoman Nicole Corcoran said the governor's office had not received a copy of the proposal. She noted, however, that some parts of the House plan are similar to what Sebelius proposed, including freeing up Crumbling Classrooms money, revolving loans and funding
sources for maintenance of buildings constructed with nonstate dollars.
Regents Chairman Nelson Galle, who met Wednesday with House Republicans, called the plan "a serious proposal" to address the projects. The regents have identified a backlog of $663 million worth of projects.
"While this proposal certainly represents an impressive and positive step forward, it does not provide an ultimate solution," Galle said.
He said the regents would continue to work with legislators to find a comprehensive funding proposal.
Sebelius proposed spending nearly $63 million next year on university repairs, using existing revenue
Earlier this year, Sebellus outlined a plan for providing $575 million to universities over six years, but the idea was a nonstarter among most legislators.
Cowdog
Sarah Coward/ASSOCIATED PRESS
A cowboy's cur dog, right, confronts a rogue longhorn-mix heifer on Tuesday during a round-up of cows wandering a Port Charlotte, Fla. neighborhood. Eight cows were spotted wandering in town.
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