Tag Archives: Dingman Center for Entrepreneurship

Terp Toolkit: Legal and Intellectual Property Tips for Entrepreneurs

There is no entrepreneur in the world who won’t need legal guidance at some point in their entrepreneurial journey.

For simple legal matters such as incorporation or basic start-up paperwork, services such as LegalZoom, LawDepot or RocketLawyer are a good place to start.

9400252-contract-for-business-law-on-terms-of-agreementHowever, for more complicated matters like establishing a Privacy Policy, Terms of Use Agreement, or other documents tailored to your business, it may be worth consulting an attorney. If you are running short of funds, you can utilize RocketLawyer’s “Ask a Lawyer” feature.  You can get the answers to simple questions for free and find lawyers near you that charge reasonable prices for their services. Continue reading

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Terp Toolkit: Financing Your Startup

Financing is a hurdle faced by nearly every entrepreneur and can the need for funding can occur at various stages of a company’s life cycle. It’s important to know what options are available, as well as the risks that come with each.

indexSome common methods of financing include:

  •  Friends & Family – Many early stage companies raise a “friends & family” round, relying on the networks of the startup’s founders for seed capital.
  • Crowdfunding – If you are selling a product or service that you think would appeal directly to consumers and you need capital to fund your business, consider crowdfunding as an option. Sites like Kickstarter, Indiegogo , and  Gofundme allow you to post your “project” for viewing by thousands of potential funders in exchange for a percentage share of your money raised.images
  • Contests & Grants – A great way to get funds for your start-up without giving up equity is to apply to contests and grants. In this article Forbes offers some tips for those seeking grants.  A tip: follow entrepreneurship organizations and centers, accelerators, and VC firms / angel groups on social media for posts about local contests.
  • Small Business Loans – This option is most effective if you have been in business for a while and are generating some cash flow.  For those who meet these requirements, the Small Business Administration offers different types of loans to help you grow your business. angel2
  • Angel Investors – For early stage companies with an ability to scale quickly and high growth potential, there is the option of raising a round from angel investors. There are many angel investors, both individuals and groups, who invest ~$25B each year in early stage companies. Most angel deals are done with companies who have either successful beta testing or initial revenues. Deals range from straight equity to convertible notes.
  • Venture Capital Firms – For later stage start-ups with a proven track record of success who are seeking to reach the next level, raising venture capital funds can be the right next step. The total Venture Capital market is ~$45B, invested in a variety of industries and stages.  You can check out the VC100 for a look at the top 100 venture capital firms in the U.S. Researching the right firms for your company stage and industry is essential when raising VC funds.  Looking at the funding history for similar companies to yours on CrunchBase or AngelList  can be a good place to start your research.

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Smith Centers of Excellence and SERC to Present JOBS Act Panel: “How To Protect The Crowd In Crowdfunding”

It has been three years since Obama’s historic signing of the JOBS Act, which was enacted as a way to help small businesses, the lifeblood of job growth in the U.S., more easily obtain funding by easing securities regulations. Since 2012, the entrepreneurial community has eagerly awaited the SEC’s final guidance on the rules regarding crowdfunding.

It appears that the SEC is close to issuing rules on how the Act will affect equity investments of non-accredited investors in small businesses and startups, particularly through crowdfunding vehicles.

jobs-act-senate-passesOn Friday, May 8, the Smith School’s Center for Financial Policy, Dingman Center for Entrepreneurship and the Smith Entrepreneurship Research Conference will host a panel discussion among experts from the academic, regulatory and entrepreneurial communities on how to regulate the industry in a way that protects investors from fraudulent activity while preserving the spirit of the JOBS Act.

The panel will be moderated by Brent Goldfarb, Academic Director at the Dingman Center and Associate Professor.

The panelists will include:

  • Wayne Kimmel, Founder and Managing Partner, Seventy-Six Capital
  • David Lynn, Partner, Morrison & Forester, and former Chief Counsel of the Division of Corporation Finance at the U.S. Securities and Exchange Commission
  • Ramana Nanda, Associate Professor of Business Administration, Harvard University
  • Brian Knight, Associate Director, Financial Policy, Center for Financial Markets, Milken Institute

The panel culminates the annual invitation-only Smith Entrepreneurship Research Conference hosted by the University of Maryland, which is attended by faculty from leading academic institutions (e.g., Wharton, Stanford and MIT). Leading researchers and rising stars in entrepreneurship research gather to discuss relevant social, economic and organizational issues around entrepreneurship.

The crowdfunding panel is the only session open to the public. Join us for the event, which will be held in Tyser Auditorium, Van Munching Hall at 3:30 on Friday, May 8. For more event details, please click here.

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Get to Know the 2015 Cupid’s Cup Finalists

Last week, Kevin Plank and the Dingman Center for Entrepreneurship announced the finalists of the 10th Anniversary Cupid’s Cup business competition. The finalists come from top schools across the country including Cornell, Duke, Drexel, Stetson, Virginia Tech, and our own University of Maryland.

After successfully moving through several rounds, these entrepreneurs have proven they have what it takes to compete in the finals on April 22nd at the University of Maryland.

We wanted to learn a little more about the talented founders behind the startups in the final round so we asked them a few questions, like what are they up to when they’re not working on their startsups? And, what was their reaction to being named a Cupid’s Cup finalist by Under Armour CEO Kevin Plank? They had some interesting responses!

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Worth Reading 3/28/14

Cupid’s Cup, the nation’s toughest business competition, will take place one week from today at the Clarice Smith Performing Arts Center at the University of Maryland. Are you ready?

Here’s what is worth reading this week.

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Look Who’s Talking About Cupid’s Cup

As we approach the application deadline, people from all over the country have been talking about Cupid’s Cup! A special thank you to everyone who has continued to support and promote this amazing opportunity for student entrepreneurs to win a total of $115K in prizes from Kevin Plank, Founder & CEO of Under Armour. Did we mention the semifinals are the the Under Armour headquarters? How does access to Kevin Plank’s professional network sound? The application deadline isn’t until January 6, so keep spreading the word! Everything you need to know is at www.cupidscup.com

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Worth Reading 10/25/13

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This week we were busy receiving applications for our various programs. For Pitch Dingman Competition, it is still not too late to apply! Register here to win $2,000 seed funding for your business idea by October 27. For Cupid’s Cup,we received impressive applications from Michigan, Massachusetts, and many states in between. Do you have what it take to conquer the toughest business competition and win $75,000? Visit www.cupidscup.com for more detail information and get started!

Now, let’s check out this week’s Worth Reading.

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Dog Days Are Over: Part 2

Always iterate. Pivot when needed. Listen to your customers. At the Dingman Center, we teach these principles every day to students. And, we practice what we preach. In Elana Fine’s latest blog post, she let you know that we spent the summer examining our signature programs to make sure we’re delivering the strongest portfolio of programs, services and products possible. Some programs got a name change, some a curriculum change but all were examined to make sure we’re delivering on our mission to build a remarkable community of entrepreneurs.

Innovation Fridays – For years, the Dingman Center has been dedicated to inspiring Fearless Ideas through our weekly Pitch Dingman sessions. Over the past year, we have been collaborating with several campus groups to transition Pitch Dingman to campus-wide Innovation Fridays sessions. Only the name has changed–the process remains the same. By joining our colleagues we are able to reach more students. Read here for all the details of this expanded commitment to student entrepreneurs. http://ter.ps/39w.

Fearless Founders – As we continue our movement to focus more on the people in our community we’re offering V 2.0 of our EnTERPreneur Academy. A cohort approach to guiding students from idea to launch that leverages tenets of the lean startup methodology, including customer discovery and developing an MVP. The new curriculum focuses more on equipping the founders and more closely resonates with the students we serve.

AdVENTURE Challenge: China – Amazing Race meets Shark Tank this May in Hong Kong and Beijing. A more immersive and impactful China Business Plan Competition where MBA students will earn points visiting startups, multinational corporations and cultural sites. The challenge will culminate with a final competition at Peking University. Students compete for cash prizes alongside peers from Smith, Peking, other Chinese business schools, and Technion-Israel Institute of Technology. In an expanded effort to teach the students the complexities of global business, they will work on cross-cultural teams to compete in the competition.

Dingman Center Angels  – the region’s most active angel network does it again. This year we will set up shop at partner incubators and workspaces like Uber Office, 1776, Acceleprise, Bethesda Green and ETC to increase access for regional companies.

The Pitch – We have developed a new communications vehicle, The Pitch. This email digest is sent bi-weekly on Tuesdays to communicate to our audience the Dingman Center’s breadth of activities and leadership throughout the region.

While it may seem much has changed, our commitment to discovering, equipping, connecting and celebrating entrepreneurs remains the same. If you’re interested in joining our community or participating in any of these programs, send us an email at dingman@rhsmith.umd.edu. To stay connected with the Dingman Center follow us on Twitter and like our Facebook page.

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Dog Days are Over: Part 1

How is it that the first day of school always feels the same? No matter how old you are or where you are from, you know what I mean. You walk outside and the air feels a bit crisper than the day before. It might be 90 degrees, but the morning always brings a chill and a nostalgic reminder of the annual nervous excitement a new school year brings. And yet, despite new classes, new clothes, new friends and, if you are lucky a new Trapper Keeper, when you walk in the building the energy is familiar and reassuring.

At the Dingman Center, we too are greeting the new school year with nervous excitement.  We took advantage of the quiet dog days in Van Munching to revamp and reenergize our programs, team and brand. As we reopen our doors, our community will see an office space that reflects our warmth and creativity, experience programs that reflect our collaborative nature and entrepreneurial spirit and new team members that share our passion and commitment.

But, like the nostalgic feeling of the first day of school, the Dingman Center is always the Dingman Center. Entrepreneurship may come in and out of style like skinny jeans, but the Dingman Center and our commitment to entrepreneurs has remained constant for 27 years. Our players aren’t always the same, our programs grow and change over time, but last week, on our first day, the energy in the Dingman Center was familiar and reassuring.  It reminded me why we worked so hard all summer to bring you the new and improved Dingman Center we promised last spring.

So what did we do this summer?

New (ish) Office
Our office space reflects the culture of our community of remarkable entrepreneurs. Our walls represent quotes that move us and inspire us. Framed words reflect our vocabulary. Fresh whiteboard paint awaits your Fearless Ideas. Toys show our playfulness and sense of humor.

New Team Members
Two of this year’s key strategic initiatives are to strengthen our community and to position our programs at the intersection of curriculum, practice and research. To help us achieve this vision, we have made two key hires that will build stronger, ongoing relationships between our external community and our faculty partners.

Adam Van Wagner ‘11, Community & Venture Programs Coordinator –  Co-Founder of 2011 Cupid’s Cup winner MyFridgeRental.com who will facilitate connections between all of our constituencies.

Alyse Carter ‘11, Dingman Center & M&O Coordinator- a thoughtful and hardworking Terp who will support Center operations and coordinate efforts with entrepreneurship faculty.

Become part of our connected community of entrepreneurs.
Our team and our programs have always been half of our story. The spirit and success of the Dingman Center relies on you. Stop by our offices, follow us on Facebook, and Twitter, attend our events and refer your friends and colleagues.

The chill is in the air…don’t be nervous..be excited and Be Fearless.

-Elana

ElanaFineElana Fine (@elanafine) was appointed Managing Director of the Dingman Center in July 2012, after joining the team in 2010 as Director of Venture Investments. As Managing Director, Elana’s primary focus is leading the Dingman Center in support of its mission and strategic plan. Key responsibilities include oversight of our student venture incubator, Dingman Center Angels investor network, business competitions, and technology commercialization efforts. Elana also develops and maintains relationships with donors, board members, EIRs, the Smith School community and other campus and regional partners. She is also serving as co-chair of the Dean’s Task Force on Entrepreneurship and Innovation and will be working with our Academic Director to expand the Dingman Center’s research activities and curriculum development.

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