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News Archive:
- Ph.D. student at Mason has started a blog devoted exclusively to campus entrepreneurship
- Mason Provides an Advocate for Its Entrepreneurs
- New Journal at Mason invites innovators to describe in their own words how they brought concepts into practice.
- School of ideas: George Mason's nascent technology transfer program sees glimmers of success stories
- Former rocket scientist helps GMU tech students
- GMU Student's 'Pong' Makeover is, like, WILD
- Invention to Innovation Project is launched to help commercialize University research.
- NVTC Emerging Business and Entrepreneur Committee Panel Provides Insight on Bootstrapping, Other Financial Considerations for Entrepreneurs
- Big IDEA and Invention contest winners for 2007 Entrepreneurship Week USA at Mason are announced!
- Three real estate agents who met while attending George Mason University launch I-Agent.com
- Business Alliance helps entrepreneurs get a shot at 'Grub'
- Mason faculty present technologies at MITRE Investor Breakfast
- Mason launches newsletter to cover entrepreneurship, innovation, research, local events, and technology transfer
- Mason Enterprise Center Welcomes i-Education Holdings
- SBA launches PodCasts for Entrepreneurs
- MOU with Max Planck Institute of Economics
- What a George Mason Expert Is Saying about . How to Tell If You're an Entrepreneur
- Public Policy PhD Student Awarded Fulbright to research poverty reduction strategies through trade facilitation and entrepreneurial development in Colombia
- Young Entrepreneurs to Explore Business Opportunities
- New Academic Journal Reflects Partnership with Harvard, MIT
- Mason Positions Itself for New Frontiers in Research
- University Seeks Greater Investments from Region; Kluger Takes on Role of Economic Development
To view more articles on Entrepreneurship: The Mason Gazette
School of Ideas: George Mason's nascent technology transfer program sees glimmers of success stories
Washington Business Journal - June 15, 2007
by Ben Hammer, Staff Reporter

To hear him tell it, Ken Hintz (pictured right) is an unlikely source for the next success of George Mason University's budding effort to spin out companies from ideas born in the ivory tower. "I'm the kind of guy you hide in a lab somewhere," said Hintz, associate professor of electrical and computer engineering at GMU in Fairfax. "I wouldn't be at a university if I wanted to start a business." With four patents, another the government classified rather than granting, and applications for nine more, Hintz is a prolific generator of research whose business potential the university has invested in protecting.
His long ties to businesses such as defense contractors Lockheed Martin Corp. of Bethesda and Niitek Inc. of Sterling belie Hint's entrepreneurial drive. His work for Niitek though a research contract with the university in 2002 is the source of his latest potential moneymaker -- technology that identifies the make and model of a land mine and eliminates false positives that plague conventional methods. Hintz believes he has discovered the "language of mines." His research theoretically converted feedback from ground radar to a digital signature for land mines encoded in strings of ones and zeroes. He has written software that recognizes energy bouncing off mines as the radar hits components of changing density and associates the signals with a library of information on land mines.
Hintz designed a computer chip that can trigger a warning in an armored personnel carrier, for example, or help relief workers who are trying to confirm whether rebels in a war-torn area have actually mined an agricultural field or merely issued a warning to terrorize a rural village. With the help of George Mason's office of technology transfer and several recent MBA graduates of the School of Management, Hintz is talking with government contractor Booz Allen Hamilton Inc. of McLean and Army officials. He briefed Department of Defense civilians at Fort Belvoir in November 2006 and expects to meet with Marine Corps officials in late June. Hintz said he also has met with five other companies he won't identify.
He enjoys "coming up with solutions to solve problems" and is looking for a business to make that happen. Transferring research into a company would bring prestige and publicity, but more worldly concerns come into play as well. "There's a possibility of making money on patents," Hintz said. "You don't make money on papers. That's crass, but true."
New Kids On the Block
The roots of university technology transfer programs such as GMU's lie in the deep and long-standing relationships between California's top schools and Silicon Valley, Boston's prestigious universities and the surrounding biotech companies and the University of Texas-Austin and its related tech sector. They were cemented by what is commonly known as the Bayh-Dole Act, amendments to a patent bill passed by Congress in 1980. The Bayh-Dole Act requires that academics disclose inventions generated from government-funded research and that universities housing the research own the resulting patents. The legislation gave institutions a financial interest in licensing patents to spinouts or existing companies.
Universities must share licensing revenue with the inventors and reinvest all other proceeds in research or education. George Mason University, founded in 1972, only recently began to focus on commercializing faculty research. The university opened a tech transfer office in 2000 with two part-time professionals. The office has grown to six full-time professionals and quickly grabbed a starring role in the school's drive to become an economic development engine for the area. Professors and students spun out Georgetown-based geospatial mapping company FortiusOne Inc. in 2005, Fairfax-based Mineral Sciences LLC, which is developing liquids that absorb toxins such as anthrax or radioactive materials, in February 2006, and Gaithersburg biotech Theranostics Health LLC in January of this year.
GMU is creating an ever-widening network through a variety of programs that draw on business leaders for help, such as The Mason Enterprise Center, which provides consulting to entrepreneurs through offices on GMU's Fairfax and Manassas campuses, and the quarterly Grubstake Breakfast, where a handful of startups can give short presentations to a roomful of venture capitalists and businesspeople. The university is also collaborating with the business community through efforts such as Venture Genesis -- which invites universities to nominate academics for presentations of promising research to a select group of venture capitalists and serial entrepreneurs -- and the local chapter of the MIT Enterprise Forum, a Massachusetts Institute of Technology nonprofit that holds events where GMU spinouts and faculty members have been featured speakers. By no means has GMU perfected its ability to be the catalyst for spinouts. The tech transfer office hired a life sciences specialist only in the last year. But the university is honing its chops with every attempt. "A lot of the leads are often serendipitous," said Jennifer Murphy, associate vice president for research and director of technology transfer. "But what we do find is that even if a deal doesn't go through that we thought was going to go through, we are able to learn from it."
Different Strokes
A closer look at George Mason University's recent spinouts reveals that the ingredients are unique in every case. Emanuel "Chip" Petricoin III and Lance Liotta, co-directors of the GMU Center for Applied Proteomics and Molecular Medicine, worked closely with the university while co-founding Theranostics Health. The company is developing medical diagnostics that analyze the activity of drug targets in patient tissue samples. It wants to offer insights to physicians about which drugs to prescribe for specific patients and to pharmaceutical companies about the effectiveness of drugs under development.
Theranostics Health has its origins in a spring 2006 presentation on Petricoin and Liotta's research to GMU's life science advisory board. Board member Joseph Reilly visited the pair's lab after the meeting and negotiated a licensing agreement with the office of technology transfer for the primary technology behind Theranostics Health. Reilly, former managing director of New Jersey mergers-and-acquistions advisory firm The Chatham Group LLC, is now CEO of Theranostics Health. Jim Cooper, director of medical research development for GMU's division of life sciences, helped Petricoin and Liotta write a business plan by studying annual reports of public biotech companies and calling on his son, John Cooper, a financial analyst at a local office of RCN Corp, to write financial sections of the document.
Mineral Sciences leaned on university resources even more heavily in getting off the ground. The company is creating substances that use chemical reactions to soak up dangerous biological weapons and other agents as well as poisonous powders. Mineral Sciences is targeting federal, state and local security agencies and businesses such as developers that have regulatory requirements to limit their environmental impact. It is focused on generating sales for now and plans to seek venture capital to fund growth once the company starts bringing in revenue. The university has filed for four patents and is preparing another for intellectual property it has licensed to the company.
Mark Krekeler, an assistant professor of environmental science and policy since August 2004, co-founded Mineral Sciences with two undergraduates studying under him. He funded the underlying research for the company with $50,000 the university stakes new faculty members in startup grants. Mineral Sciences also raised $50,000 in seed funding from The Capitol Connection, a for-profit cable TV feed provider that returns profits to GMU. The technology transfer office has handled all the patent applications and provided some legal advice to the company. The Mason Enterprise Center's staff members have schooled Krekeler on what to expect in the business world, he said, provided coaching as he formulated and developed the business, and are now helping him find a chief executive. Krekeler, who continues in his tenure-track position at GMU, is "managing member" of the company. Co-founders Cynthia Tselepis is vice president of research, and Stephen Elmore is vice president of technology.
FortiusOne provides perhaps the closest example of the spontaneous kind of company spinout that often happens at tech transfer powerhouses such as Stanford University. Sean Gorman co-founded the company after the Department of Homeland Security tried to prevent him from publishing his doctoral thesis, which used software to show the potential impact of attacks on the nation's critical infrastructure. FortiusOne began selling software and consulting with the government and businesses to assess risk. It is now focused on building a Web site that Internet users and media companies can use to map data sets to highlight news stories or other areas of interest. Gorman actually found his top adviser outside the university in Don Spero, a venture capitalist with College Park-based New Markets Growth Fund who previously led the Dingman Center for Entrepreneurship at the University of Maryland. Pero, a 1964 Olympics rower who won a world championship in 1966, had known Gorman for years through the Potomac Boat Club in Georgetown before reading about the brouhaha over Gorman's research in a newspaper article. Spero contacted Gorman, and the two got together to discuss the potential for a business such as FortiusOne. Spero "quietly" incubated the company, he said, while negotiating a licensing agreement with GMU.
One Skill Set For Another
Gorman held the title of research assistant professor at GMU through the end of 2006, though he said he focused almost exclusively on his role as FortiusOne CEO since spring 2005. His co-founders, GMU School of Public Policy Dean Kingsley Haynes and Associate Dean Roger Stough, are still entrenched in academia but devote about a day a week to building a massive repository of data the company is gathering from academic and other sources for use by consumers and businesses. Spero was impressed when Gorman volunteered that he didn't see himself as the long-term CEO of FortiusOne and instead wanted to focus on developing the company's products and getting others interested in them.
"People who are often very smart from a technology background are also very intellectually arrogant," said Spero, who has a doctorate. in physics from Columbia University. "Ph.D.s in tough fields can often be intellectually arrogant, and they'll say, 'Yeah, I'll bring in a good management team,' but they won't bring in someone to be their boss." Spero sees many of the same challenges in working with university spinouts as he does other startups. The primary issues are naivete about business, indefensible intellectual property rights and an unwillingness to turn the company over to seasoned executives. "It's very much a process of finding diamonds in the rough and polishing them and setting them in a ring," he said. "Conceptually, it's a very straightforward process, and in the real world it's tough."
E-mail: BHAMMER@bizjournals.com
Former rocket scientist helps GMU tech students
Washington Business Journal - June 15, 2007
by Jennifer Nycz-Conner, Staff Reporter
David Grossman has been a toy designer for Fisher-Price, developed neon-lit electronic fiddles, programmed rockets for NASA, invented technology that prevents camcorders from pirating movies in theaters and is the holder of 10 patents on top of all that. At least by last week's count. That brew of technological expertise, creative engineering and unquenchable curiosity makes him perfectly suited to shepherd nascent technological notions through the rigors of the patent process and, ideally, into boardrooms.

As assistant director of the Office of Technology Transfer at George Mason University, Grossman works with professors and students to analyze their research, figure out what parts are patentable and find ways to get them in front of business leaders and investors to move ideas into the marketplace. In 1996, he was working on the NASA Orbital X-34 rocket plane when he adopted a daughter from China. The long hours of living in the office next to the rocket and always being on call no longer held their old appeal.
Around the same time, Grossman was flipping through an electronic engineering trade journal and spied an ad that basically claimed, "You too can practice patent law." No law degree was required (although he now holds one from American University). Applicants had to have engineering degrees and be able to pass a patent bar exam. The idea intrigued him. "I figured I could pass an exam," Grossman says. He went on to form a patent prosecution consultancy, eventually picking up George Mason University as a client in 1999. When he decided he wanted to go full time again, the university quickly offered him a job in early 2005.
Grossman describes the patent-chasing process in an engineerlike three steps: Step one: File application. Step two: Wait a couple of years for a letter denying said application. Step three: Work with the patent office to explain why it's wrong and work the patent through. That's essentially what Grossman does for George Mason. His job is to walk the halls, get familiar with the non-life-sciences research taking place and figure out what can be developed and marketed to the private sector, which brings revenue to the university and the professors doing the work.
Friday mornings at the George Mason tech transfer office are reserved for "intake." That's when the Ph.D.s parade in and present their ideas to a panel of experts in an academic version of "American Idol." A recent Friday presentation saw an engineering doctoral student and her professor talk about their research on carbon nanotube patch clamps, a technique that would allow for electrochemical measurements of live cells using nanoscopic tubes as connection channels.
The panel poked and prodded for potential uses of the technology. Could it be used in biometrics to identify people? How could it be used in preclinical trial testing? And so the patent process begins. There will be more thinking, more analysis and possibly a patent search to see if this could be viable in the marketplace. It is a journey, to be sure, but it's one that keeps Grossman coming back for more. "I have this opinion that anything can be done," he says. "I love being on the learning curve of things."
E-mail: JNCONNEr@bizjournals.com
GMU Student's 'Pong' Makeover is, like, WILD
It takes some serious math to make something this trippy. To create a video game that's sort of like playing Ping-Pong while floating in melted lollipops, George Mason University student Stephen Taylor spent more than a year wrestling through algorithms, fluid dynamics and computer coding. Taylor created a version of "Pong," one of the earliest and most iconic video games, a dead-simple screen with a ball blipping between two paddles -- and made it psychedelic. Creepy electronica music rises to a crescendo as colors swirl around the liquid current. (Are those monks chanting, or tortured souls?)
It's over the top, freaky, high-speed and mellow all at once. As his online fans would say: DUDE. This is AWESOME. Taylor, 21, started writing code for "Plasma Pong" when he was bored on winter break at his parents' house. Now the game has taken off. When he posted it online, it slowed the whole GMU server to a crawl. An administrator traced the problem to the game, which had been downloaded 50,000 times, and ordered him to take it down. "That was pretty cool," Taylor said, grinning. The new Web site has had almost a million visits.
"Plasma Pong" was named one of the top five indie games by the influential tech site Wired.com. And in a sign of the growing respect for video gaming from the academic world, it's not just hard-core players who are impressed. "It's extraordinary," said Zoran Duric, a professor of computer sciences at GMU. "He's taken some of the stuff he's learned at school, combined it with imagination and talents. That is tremendous." In the past few years, universities have been giving video games -- once dismissed as vapid and some still criticized for glorifying violence -- more respect. Why? There's the clout of the $30 billion gaming industry -- with lots of development percolating at Washington-area companies. It's a way to lure all those Xbox kids to campus. And as the capabilities increase, gaming technology is being used for everything from military training to brain exercises to virtual surgery for medical students.
For example: The University of Maryland's business school hosted a supply-chain game in which teams of students from around the world competed as electronics distributors -- calculating risk, taking orders, finding suppliers -- all in real time. The innovations that will drive technology are more and more likely to come from universities and students, said Dean Chang, the new director of MTECH Ventures, U-Md.'s technology entrepreneurship program. MIT offers research in video game technology. Carnegie Mellon University has an Entertainment Technology Center. Students can study the technology at Montgomery College and then transfer directly to the University of Baltimore for a four-year degree. U-Md. has senior-level courses in game design. And George Mason is developing a gaming track for computer science majors and is considering offering a master's degree.
In and out of class, Taylor worked through the thorny calculations to create "Plasma Pong." "Usually when people think of [simulating] fluids they think, 'Very expensive, huge problem,' " said Jos Stam, a scientist well known in the industry, who wrote a research paper that Taylor found and used to develop the game. That's because so many variables affect the way liquid, or smoke or fire, diffuses through space. Stam presented a breakthrough, an easier way to do it. Still, the paper is a lot of this kind of thing: "For large diffusion rates, the density values start to oscillate, become negative, and finally diverge, making the simulation useless." And, "we can interpret the velocity equation as saying that the velocity over a time step changes due to three causes: the addition of forces, viscous diffusion and self-advection."
Right. Here's how it works: Players compete against the game or an opponent, with basic rules similar to those for table tennis. A mouse click sends a jet of liquid or creates a suction effect. The colors keep changing, pulsating around the screen, with particles flying around, too. "I wanted really whacked-out visuals," Taylor said. The game includes a sandbox function for people to mess around with. "You can toggle all the controls, turn it into a giant bowl of Jell-O if you want to," Taylor said, increasing the thickness of the liquid, the buoyancy or the spin. "Just like playing in a sandbox." "Pong" has been reinvented before, with updated technology and peoples' own zany touches (including a version that featured Bill Clinton's head as the ball, and a demo using body sensors to control the paddles). Simulating fluid dynamics took mathematical calculations of viscosity, gravity, vorticity and other forces that affect the movement of liquid.
Anyway, now that he's got that nailed, Taylor's launching a company. He's getting music licensed for the game and thinking about a new name to avoid echoing the "Pong" trademark. He's talking with lawyers. He's looking for investors. And he's finishing his last year of college. At his parents' home in Fairfax Station, he has been working on the game, hacking through how to make it multi-player so that a student at GMU could play someone in, say, Tokyo, in real time. On his laptop, he clicked on an image of red juice sloshing around in a glass box -- three-dimensional, rather than the two-dimensional slice of liquid he's got. "To have something like this would be absolutely amazing," he said, staring at it, the lava lamp on his desk bubbling away. "It's very, very difficult."
This article originally appeared in the Washington Post.
By Susan Kinzie
Washington Post Staff Writer
Tuesday, June 19, 2007; B01
© 2007 The Washington Post Company
Invention to Innovation Project is launched to help commercialize University research.
The goal of the Invention to Innovation Project is to move disclosed or patented IP at George Mason University closer to commercialization, making it more attractive for licensing or company formation. The project is administered by an independent committee of local business and investment leaders, using privately-raised funds. The project is under the direction of Jerry Coughter, Assistant Vice President for Regional Economic Development. Read more
Three Mason students launch I-Agent Real Estate website
Three real estate agents who met while attending George Mason University launched I-Agent.com , a Web site that lets home seekers search a database of homes and new communities on the market -- and offers buyers a way to save money. Under their model, when buyers use the site to find a house that suits their needs, an agent works with the client to finalize contracts, work out financing and coordinate settlement costs -- just like a traditional real estate transaction. I-Agent has a twist: Agents who bring buyers to the table typically collect a 3 percent commission; I-Agent is giving two-thirds of its take to the buyers...
Read the entire Washington Post Article
Mason Enterprise Center Welcomes i-Education Holdings
i-Education Holdings, Inc. (i-Ed) is the newest participant in the Mason Enterprise Center's International Business Accelerator. The company offers learning tools that deliver educational multimedia content to classrooms and computer labs. Its MiClase program offers thousands of currículum-based video clips, software activities, enriched animations, and Internet links...READ MORE
Mason launches Patriot Entrepreneur Newsletter
The Patriot Entrepreneur is a brand new newsletter designed to keep you informed of the many ongoing activities at George Mason University that encourage and contribute to the growth of entrepreneurship and economic development in Virginia.
Future issues will highlight current research, technological advancements, descriptions of start-up companies, announcements of upcoming pertinent workshops and new partnerships between Mason and businesses. It is our intent to use this publication to further strengthen the ties between our institution and the dynamic region in which we live. With your input and comments, Patriot Entrepreneur will be timely, stimulating and informative.
Read The Patriot Entrepreneur - http://entrepreneurship.gmu.edu/newsletter/
Mason faculty present technologies at MITRE Investor Breakfast
(SUMMER 2006) George Mason University participated in the 2nd quarterly "Commercialization Venture Initiative" breakfast, organized by the MITRE Technology Transfer Office, on Friday, June 9th. The Commercialization Venture Initiative is a collaborative effort by the MITRE Technology Transfer Office, several local Universities, Venture Capital Firms, and area entrepreneurs interested in supporting the formation of new ventures. Creating startup companies based on University/Nonprofit developed technologies is an important avenue for the commercialization of research from these institutions.
George Mason University presented two technologies that are available for commercial investment to about 50 investors and entrpreneurs in attendance. Dr. Arun Sood of the Computer Science Department at George Mason University presented "The Self-Cleaning Tolerance (SCIT) System", which is a technology that restricts attackers to a very short time window to breach a system and cause harm. SCIT addresses the "unknown" and "undetected" cyber attacks. Dr. Hassan Gomaa of the Information & Software Development Department at Mason presented “The Software Services Broker for Quality of Service", which is a technology that negotiates software services with users on behalf of the software service providers. When the consumer wants to use a software service at a given level of quality for a given price, the Broker determines if the request can accepted, or rejected; or if there is a counter-offer of service level or price or both.
The MITRE Corporation presented "The Discovery Server". The Discovery Server is a prototype technology that augments existing VPN networks, allowing better management of the networks. The technology, through software, virtualizes VPN gateways in networks so that applications survive outages, intermittent VPN connectivity and VPN overload. It also offers load balancing across the WAN and frees VPN clients from choosing an end-point tied to geography. The Commercialization Venture Initiative was sponsored by Amplifier Ventures, In-Q-Tel, RedShift Ventures, Silicon Valley Bank, and Tremonti Consulting. University and Nonprofit participants were MITRE, George Mason University, George Washington University, Johns Hopkins University, and University of Maryland.
Contact Information:
George Mason University Technology Transfer Office: Jennifer Murphy, 703-993-2985, jmurphy@gmu.edu
MITRE Technology Transfer Office: Gerard Eldering, 703-983-7132, eldering@mitre.org
SBA launches PodCasts for Entrepreneurs
The U.S. Small Business Administration has announced the arrival of podcasting for small business owners on a range of topics to help entrepreneurs on the road to starting a new business. The SBA podcasts provide an introduction to various small business topics, and will deliver business information and advice for new and established entrepreneurs on all aspects of starting, expanding and financing a small business, as well as business protection. The current list of podcasts includes the following subjects:
- Is Entrepreneurship for You?
- The SBA Small Business Training Network - Log On!
- Selecting a Business that Fits
- Disaster Preparedness for Business Owners
- Financing a Small Business
The SBA recognizes the time constraints faced by budding entrepreneurs, and podcasting is an easy way to deliver content on small business basics using audio files over the Internet. Each broadcast is less than 10 minutes long and will feature interviews with experts from the SBA and SBA resource partners of SCORE, the Small Business Development Centers and the Women's Business Centers. Industry experts from across the country will also share insightful and invaluable information with the small business public via podcasting. To get to the SBA podcast library, go online to http://www.sba.gov/podcast Podcast files can be listened to on a computer or downloaded to an MP3 player. Each podcast delivers a broadcast quality recording, and additional feeds on a new small business topic will be added regularly. The SBA encourages listeners to visit the online Small Business Training Network of free training courses, workshops and resources at www.sba.gov/training for more in-depth information.
NVTC Emerging Business and Entrepreneur Committee Panel Provides Insight on Bootstrapping, Other Financial Considerations for Entrepreneurs
At the April 24 NVTC Emerging Business and Entrepreneur Committee Event, attendees were treated to a lively and candid panel of successful business starters on the subject of "bootstrapping" and other financial considerations for the entrepreneur. The speakers were Jim Wolfe, CEO and Co-founder of J Street Consulting and Assistant Professor of The School of Management at George Mason University, Andy Forbes, serial entrepreneur and owner of The Andy Forbes Files.com, and Tony Carter, serial entrepreneur and author. Dan Weitzel, Committee Chair and Attorney at Law at Enterprise Business Law Group, offered a quick background on the panel and topic. Ian Mooers, Coordinator for Entrepreneurship and Business Development Programs at George Mason University, moderated. Forbes shared that he is currently working on numerous projects, including partnering with Wolfe on a new startup. Carter called himself an "entrepreneur's nanny," and said he has been helping startups get off the ground for decades. In 1995, he started the first for-profit incubator. "Bootstrapping all his life," he defined bootstrapping as starting a company without giving away equity or going out and raising money. Wolfe has been involved in more than 50 companies, but not always as the founder. He has fulfilled the roles of board member or advisor to emerging companies, as well. He was also a Co-founder of BioNetrix.
The panelists gave thoughtful advice on a number of topics, then opened the floor for audience questions and dialogue. Some of the suggestions from the group when starting a business in a bootstrapping environment included ---- Overhead: An entrepreneur should not experience any overhead until after a sale is made. Stay away from fixed costs like a long-term lease or contract. If you must have a lease, make sure it is month-to-month or short term. Initial Investors: Get family, friends and other believers to buy in and support the idea. An entrepreneur must have confidence in the concept so believers will develop the concept with him or her. Remember: believers have confidence in the entrepreneur, not just the idea. Revenue Streams: Don't try to go after everyone in the market. Focus on one revenue stream. Be true to the mission statement and what you want to accomplish within the first year of business. Sales: Concentrate on making sales, especially during the first year. This is the only way to grow a new business. SBIR loans: While this method may obtain capital, it could potentially take away from the core business. An entrepreneur may eventually end up writing loan applications instead of concentrating on growing the business. However, an SBIR loan may make sense if the company is related to R&D. Teammates: An entrepreneur should decide if he or she wants to do this on his or her own or with a team. A two-, three- or four-person team is sometimes better regarded than a "lone ranger." Style: Sometimes the entrepreneur does not readily give up his or her role as manager at the right time. There is a point when he or she needs to realize the style must change for the business to grow and they need to evolve into a coaching role instead. If the company leaders are not cut from the entrepreneurship cloth, they need to have someone come in and teach them how to have more of an "entrepreneurial style." Checklist: As an entrepreneur, you may think you have to check off a certain list of items in order to move forward. But concentrating on the proverbial checklist (i.e., getting a mentor, attorney, accountant, board of directors, etc.), takes away the focus from generating revenue, which is the key to growing. Financing the least expensive way: 1) sales, 2) bank line of credit, 3) angel investors and 4) venture capital. In conclusion, the group agreed that as a "bootstrapper," one should not look to VC funding until after he or she is really ready. It is then ideal to have someone introduce the entrepreneur rather than having him or her approach the VC on his or her own. Best situation: The VC comes to the entrepreneur.
HIGHLIGHTS
Sponsor Mason Technologies
The Office of Technology Transfer invites you to donate to the Invention to Innovation Fund. Your donation sponsors the commercialization of University technologies.
Center for Real Estate Entrepreneurship
George Mason University is pleased to announce the launch of a university-wide initiative which will produce the real estate professionals of tomorrow and will further the educational and professional opportunities of real estate industry professionals.
5th Annual Mason Entrepreneurship Research Conference
Since 2004, George Mason University has been organizing an annual research conference to promote dialogue and collaborative research among scholars interested in the topic of Entrepreneurship.