Entrepreneur (noun) – one who organizes, manages, and assumes the risks of a business or enterprise.
As student program coordinator for the Big Idea Center, the main question I receive is: “can I participate or is all of this just for business students?” My response varies person to person, but always follows the same theme:
Entrepreneurship is for anyone and everyone.
I was an English major and I know for a fact that the founding director of the Innovation Institute was not a business student. Dr. Marc Malandro, a science guy, delivered the 2018 winter commencement address at Youngstown State University with the intent of instructing all in attendance to “live an entrepreneurial life.” The idea behind this statement is not to go out and start a business right away, but to be a go-getter and to constantly be thinking of the next best thing. Being innovative, whether it is in your personal life or beyond, is the way of the world. Silicon Valley is not just a T.V. show or an untouchable and distant part of California of promise when all of the tools you need to start your own business are right in your own backyard.
The aim of the Big Idea Center is to bring students together, from all departments and levels at Pitt, and to provide them with a space for creation and development of those ideas. I always tell parents and students that we exist as a university resource that costs only as much time and effort as you are willing to put into it.
“Well, okay, but what kind of ideas do you accept?”
The entrepreneurs in residence will tell you that your idea works only if it serves a market or customer need. This is a definition of what makes a successful business, but does not exclude any one type of idea. From social innovation (those working to change the world) to medical devices or a simple rideshare application, the possibilities are endless. If you have an idea, we want to hear it and help you build that idea into something more.
Last year’s Randall Family Big Idea Competition winners created gum that cleaned your teeth, applications that mapped climbing locations, internet dating interfaces, medical devices, and more. From 103 teams to 14 monetary winners, I really only saw one downfall or drawback that caused teams to fail: the lack of willingness or ability to listen to constructive criticism and pivot their projects accordingly. Contrary to popular belief, when a business professional is deciding to invest in a company, they are not looking at your college major or course of study. The product is the star. This is how a former Netflix creative director can build a startup for large cans of water, colloquially known as “pounders,” marketed towards the hardcore rock scene. The product is called “Liquid Death” and has raised $1.6 million in seed funding.
“This sure sounds like you have to be in business…”
I will not lie. There is a very strong business base to what we do, but we are not the Katz School of Business and we do not offer degrees in entrepreneurship. We really only have one pre-requisite: be willing to learn.
No one can promise you that your idea will make millions because not every startup is successful, but that should not cause you to give up on the idea of becoming an entrepreneur. If this is a path that you are passionate about, regardless of your background or training, why not give it a shot? The great thing about being a student is that there is little to no risk involved in airing out your idea in an academic setting. Trust me, get the free advice before it costs a fortune in consulting fees (fun fact: most of our entrepreneurs in residence charge for consult sessions outside of their work with students).
What have you got to lose?
-Jess Malandro, Student Program Coordinator (jmalandro@innovation.pitt.edu)