Experiential Learning Accelerators


Innovation for Business Growth in Fairfield County

Over 110 UConn Alumni and business leaders from Greater Stamford gathered at the “Innovation for Business Growth in Fairfield County” event at the Stamford Learning Accelerator last Thursday. The event, hosted by the University of Connecticut School of Business and The Business Council of Fairfield, Connecticut, featured a panel discussion on topics such as new business growth in Connecticut and why companies are relocating to Fairfield County.

Moderated by Dean John Elliott of the UConn School of Business and Christopher Bruhl, President and CEO of The Business Council of Fairfield County, the panel was comprised of UConn alumni business leaders in the area as well as UConn faculty. Panelists included Tim Hunter, Professor and Head, Digital Media & Design Department, UConn Schools of Business and Fine Arts; Lincoln Millstein ’77, Executive Vice President, Deputy Group Head at Hearst Publications; Seth Ruzi, VP & Associate General Counsel, Starwood Hotels & Resorts; and Joseph Parsons ’79, Management Committee Member, Bridgewater Associates.

The interactive discussion was followed by a cocktail party and networking reception welcoming the new Dean, where attendees were also able to chat with panelists directly.


Start-up Nation Transformation: The Case for Veterans

It takes a special mindset to volunteer to join the military in times of war. To leave the comforts of home, to leave family and friends, to go into harm’s way in far off foreign lands creates a complex mindset. It takes a certain mentality to brave the dangers of combat, to go outside the wire and engage the enemy on their grounds.

What is it, ultimately, that makes veterans different from civilians? I have been interested in this question since 1994 – my first recruiting tour of duty. Why did some people sign on the dotted line for four years or more, and some not? What was the unmoved mover that prompted the best and brightest of America’s youth to raise their right hand and take a solemn oath to support and defend the Constitution? Over 6 years and two recruiting tours of duty, I never could put my finger on it. It remains a mystery to me, even now.

We have to recognize the difference between transitioning from the military to civilian life, and transformation from a warrior to an entrepreneur. Transition is merely a change of position. Transformation is a change of substance. It takes a specific attitude to make a transformation. There is a world of difference, and we should celebrate that difference.

I read a book entitled Mindset by Carol Dweck, a psychologist who studies success. In her book, she posits two fundamental mindsets, Growth vs Fixed. Growth mindsets have a tendency to learn experientially, a willingness to take on new challenges and explore new opportunities, and maybe most importantly, a proclivity for hard work. In other words, qualities we most often associate with successful entrepreneurship.

A body of academic research exists about why veterans the world over tend to be successful entrepreneurs. In their book Start-up Nation, Dan Senor and Saul Singer explore the factors contributing to the entrepreneurial success of Israel, on a per capita basis, the most entrepreneurial country in the world. They assert one of the key reasons is Israel’s compulsory universal military service, which creates a common language and outlook for mission accomplishment and – once again – hard work.

Hard work, mission bias, and problem solving skills are at the heart of the veteran-entrepreneur transformation. Here in CT, we have a population of greater than 250,000 veterans; but more than 40,000 veteran-owned businesses, about a 1-in-6 ratio.

Today, as I speak, the unemployment rate among disabled veterans is 15.8 in CT, and here among the current generation of Iraq and Afghanistan veterans, the unemployment rate is greater than 30%.

Approximately 2.5 million Americans have served in overseas  theaters of operations in the Global War on Terror since 9/11. As the wars in Iraq and Afghanistan draw to a close, and as budgets are cut and the military draws down over the next decade, more than 600,000 service members a year will leave the military and transition to civilian life; as many as 10,000 veterans a year will return to CT.

If 1-in-6 of those veterans started businesses – our nation would create more than 100,000 veteran start-ups per year. We could create more than 1,000 veteran start-ups here in CT. We veteran-entrepreneurs, with our Growth mindset, as we transform from warrior to entrepreneur – we are part of the solution to the present economic situation.

We can create a start-up state, and a start-up nation.


NAACP Urban Business Expo

The first Urban Business Expo was held on August 28th, 2012 at the Artist’s Collective in Hartford. This event, sponsored by the NAACP, was designed to bring together Connecticut-based minority and women small business owners with different organizations that educate and assist with funding, development, certification and marketing issues. In addition to business assistance organizations, also present were different companies and agencies in the healthcare, education, government, professional union, and infrastructure development and maintenance fields. Vendor booths were also set up to showcase some local small business owners. The University of Connecticut’s School of Business was represented by Seanice Austin from the Office of Diversity Initiatives and Kathryn Huntington from the Connecticut Center for Entrepreneurship & Innovation (CCEI).

The event was well attended, and small business owners in industries ranging from yoga studios to independent cable providers mingled and networked with representatives in the over 70+ booths. Vendors were able to network with each other at the event, and many promising connections and plans for collaboration between different organizations were made. In addition to the expo booths, there were panel discussions and themed sessions running throughout the day. The theater-style seats were filled, and some sessions were filled to the point of standing-room only. Speakers included Lt. Governor Nancy Wyman, Hartford Mayor Pedro Segara, and representatives from various organizations who provide business assistance to new ventures in the state. Also present on the panels were successful individuals who gave their stories and perspectives, and urged the audience members to take advantage of the different programs and organizations that are able to provide assistance for their business challenges.

It is often the case that small business owners are unaware of programs, funding, or initiatives that are available to them. The Urban Business Expo was designed to create awareness of all these different opportunities, and inspire an increase in the number of minority and women business owners in Connecticut. Austin remarked, “Participating in this event with the NAACP allowed the School of Business to reach out to minority small business owners in Hartford. We connected with some promising individuals and are excited to build relationships with business owners throughout the state.”


Decorated Marine Appointed to Lead Veterans Programs at UConn School of Business

A decorated Marine who runs the University of Connecticut’s program to help other military members become entrepreneurs has been appointed to lead veterans’ outreach and support initiatives at the School of Business.

Michael Zacchea, a Purple Heart and Bronze Star recipient who holds an MBA from UConn, will coordinate programs to recruit and support veterans and help them with job placement, continuing education, career planning, and other services.

Zacchea also continues in his role as director of the Entrepreneurship Bootcamp for Veterans with Disabilities, which welcomes a new group of participants to UConn this fall. UConn is among eight prominent business schools offering the bootcamp in collaboration with the Whitman School of Management at Syracuse University.

“We are thrilled to have Mike Zacchea on board for this very important post. His outreach to the veteran community is vital to our continued support of veterans in regard to continuing education and job placement,” says James R. Lowe, assistant dean of the UConn School of Business.

“This, coupled with Mike’s leadership of the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV), completes a robust offering of services to this valued community,” Lowe says.

Zacchea, a native of Long Island, N.Y., who now lives in Brookfield, will work with programs and veterans at all of UConn’s campuses.

Zacchea also received the U.S. Small Business Administration’s award as 2012 Veteran Small Business Champion of the Year for his work with the Entrepreneurship Bootcamp for Veterans with Disabilities.

“I’m very happy to tell the story about UConn and its service to veterans because UConn has been so good to me in terms of returning and re-integrating and planning my future,” Zacchea says.

“We’re doing so much at UConn to re-engineer the student veterans’ experience and recognize them as a specific constituency with unique needs,” he says. “Both UConn and Connecticut as a whole have a story to tell returning veterans about their opportunities here and the support we can provide.”

Zacchea was commissioned a 2nd lieutenant in the U.S. Marine Corps in 1990 and served in Somalia and Haiti before being deployed in 2004 as a major to Iraq for Operation Iraqi Freedom II.

His team and the Iraqi army battalion it trained were involved in heavy combat many times. They included an incident in which he was wounded by a rocket-propelled grenade and received shrapnel in his shoulder and a traumatic brain injury, which required him to undergo several years of rehabilitation.

His military awards include the Bronze Star Medal for Valor, the Purple Heart Medal, a Navy and Marine Corps Achievement Medal, a Combat Action Ribbon, and many unit and campaign awards.

Zacchea, who held a master’s degree from Hawaii Pacific University and a bachelor’s from Notre Dame, earned his MBA in May from UConn and has been active in veterans’ groups on campus, statewide, and nationally.

He was an analyst for Morgan Stanley before enrolling in UConn’s MBA program, where he specialized in entrepreneurial marketing.

He says some specific goals in his new position with the School of Business include creating coherent policies to help veterans locate educational opportunities, job training, and other services they need.

He also wants to advocate for creating certain non-degree certificate programs to help veterans bolster their knowledge and give them an edge in the job market, and to work with others at UConn in its efforts to offer strong support to veterans throughout their college careers and once they are alumni.


National PTSD Awareness Day & Moral Injury – Make the Connection

Wednesday, June 27th was officially recognized as the 3rd annual National PTSD Awareness Day.  PTSD Awareness Day was first established by Congress in 2010 after Sen. Kent Conrad of North Dakota proposed honoring North Dakota Army National Guard Staff Sgt. Joe Biel, who was a suicide casualty following two tours in Iraq. Biel’s birthday was June 27. Tragically and stunningly, in the first 155 days in calendar year 2012, the active duty armed forces endured 154 suicide casualties – as sure a cry for help as there is.

It took a decade of war in Iraq and Afghanistan, and millions of words, and thousands of shattered lives, for our nation to finally recognize the legitimate and true nature of post-traumatic stress and the effect it has on survivors of trauma. Trauma comes in many many shapes and sizes – I call them species of trauma. Combat, certainly. Accidents, whether vehicular or otherwise. Domestic abuse. Sexual abuse. Bullying. Racism. Crime victimization.

The link above includes 12 ways to increase awareness of PTSD in the community. PTSD does not affect just returning veterans. It affects every community, and all ages. It is, in effect, a 12-Step program for community members to learn about living with trauma.

But soldiers and veterans experience something else – a different species of trauma. Because they are volunteers. Every single one of us volunteered to don the uniform, to strap on the boots, and to take up arms to support and defend the Constitution of the United States against all enemies foreign and domestic. That is a good thing. Its a morally right and defensible action. Love of country is part of the natural order. So what happens?

My friend Nan Levinson of Tufts University is a writer and PTSD researcher. She has written an incredibly insightful essay about “moral injury” crossed posted at Tom Dispatch and the Huffington Post. Entitled Mad, Bad, Sad: What’s Really Happened to America’s Soldiers, she calls these moral injuries “sacred wounds.” Here she tells the story of a soldier:

“Andy had assumed that his role would be to protect his country when it was threatened. Instead, he now considers  himself part of “something evil.” So at a point when his therapy stalled and his therapist suggested that his spiritual pain was exacerbating his psychological pain, it suddenly clicked. The spiritual part he now calls his sacred wound. Others call it “moral injury.”

Nan goes on to explain:

“While the symptoms and causes may overlap with PTSD, moral injury arises from what you did or failed to do, rather than from what was done to you.  It’s a sickness of the heart more than the head. Or, possibly, moral injury is what comes first and, if left unattended, can congeal into PTSD.”

She gives credit for the term “moral injury” to Dr Jonathan Shays, the MacArthur Genius Grant recipient and Boston VA Psychiatrist who wrote Achilles in Viet Nam: Combat Trauma and the Undoing of Moral Character and Odysseus in America: Combat Trauma and the Trials of Coming Home There is an important academic paper on the phenomenon of moral injury entitled Moral Injury and Moral Repair in War Veterans published by in 2009.

It is no accident that the first National PTSD Awareness Day happened in 2010.

Awareness is not enough. Reaching out. As in combat, creating bonds under extreme conditions of stress and trauma. The VA has a new campaign called Make the Connection. Veterans share a common bond of duty, honor, and service. Some military Veterans served in combat overseas. We experienced things – life – that most people can’t fathom. We know. We get it. That’s why we have to reach out.

 


CCEI Holds Annual University-Wide Business Plan Competition

For the third year in a row, the Connecticut Center for Entrepreneurship and Innovation (CCEI) at the University of Connecticut School of Business held its annual business plan competition.  The CCEI, led by Executive Director Christopher Levesque ’87, is an academic center within the School of Business that aims to broaden the entrepreneurial opportunities both within UConn, and the greater Connecticut entrepreneurial community at large.

“Over the last couple of years, the CCEI Business Plan Competition has blossomed into a wonderful program on many levels.  Beyond the prize money — which is substantial — it is energizing hundreds of UConn student entrepreneurs to invent and create new products and services.  The program gives students a platform to launch substantial businesses,  creating career paths for themselves and jobs for the State of Connecticut,” notes Eric Knight ’82, President  of Remarkable Technologies and Manager of the UConn Springboard program, who served as a competition judge.

The competition is university-wide – open to students of all levels, majors, and campuses, and there are no restrictions when it comes to the subject of the plan idea – any and all unique business ideas or innovations were considered.   This competition is part of a broader effort by the University to grow the entrepreneurial community and spirit, and this competition attracted talented student teams from diverse backgrounds and experience, but all with a common motivation and drive.

Many of the teams were comprised of interdisciplinary students, which helps to bring a wide array of perspectives and ideas to any project.  Part of the promise of this competition was that all submitted plans would be reviewed by experienced entrepreneurs, investors and UConn faculty.  Additionally, the CCEI hosted multiple workshops dedicated to helping teams improve and polish their plans to help maximize their prospects for success.  At the workshops, the competitor teams were given general guidance on what makes a successful business plan and were then given one-on-one time to work with experienced professional mentors.

Over 130 teams submitted their intent-to-compete, 49 teams submitted official competition entries, and 13 finalists presented their plans to a panel of judges.  The finalist presentations were held April 25th, 2012 at the School of Business.  The judges for this competition were: Christopher Levesque ’87, Director of CCEI; Eric Knight ‘82, President  of Remarkable Technologies and Manager of the UConn Springboard program; Bruce Carlson, President of the IP Factory; Danny Briere, CEO of TeleChoice; Mary Anne Rooke, President of the Angel Investor Forum; Joe Wehr, President of DBMI; and Nat Brinn, Principal at Vital Financial, LLC.

Among the finalists, PartsTech, a team comprised JD/MBA student Gregory Kirber ’13 and MBA student Alexander VanderEls ’12, presented the most well-developed business plan, receiving the competition grand prize of $25,000.  Second prize of $15,000 went to Buses2 (team members Adam Boyajian ’12 and Michael Parelli ‘12), and the third place prize of $10,000 went to Sharelogical (Max Lekhtman ‘11 , Daniel Hanley ‘12, Jay Bahgat ‘14 and Mike Lovino ‘12).

Competition plan winner Greg Kirber noted how the resources surrounding this competition contributed to his team’s success: “The development processes and mentor advising helped strengthen our plan and provided new avenues for exploration.”  He also commented on the sense of fellowship between competition participants, “While a competition by nature, this event has certainly led to lasting collaboration between teams as well as with mentors.”

“The popularity of this year’s competition is a perfect representation of the energy up in Storrs. There’s an incredible amount of students starting businesses and chasing their dreams, and now there are resources like the CCEI competition so students have a channel through which they can pursue their opportunities,” notes Adam Boyajian. “We just graduated, and we can look back to four years ago when there was no place for kids like us to go with ideas, and certainly no mentors or money to help us make it happen.  The pace at which things are happening is incredible, and there is without a doubt some big things coming out of UConn around the corner.”

Chris Levesque is thrilled with the rapidly expanding level of entrepreneurial energy by the students at UConn.  “The creativity, novelty and sophistication of the ideas presented has increased each year and the CCEI Business Plan Competition, taken in conjunction with entrepreneurship courses, Startup Weekend Storrs, Innovation Quest, and other programs is helping to put UConn squarely on the map in terms of student entrepreneurship.”

This competition was an extremely effective and successful way to tap into the burgeoning entrepreneurial spirit here at the University and throughout the State.  With the success of the 2012 CCEI Business Plan Competition, the organizers are brainstorming ways to grow the competition even larger next year, perhaps adding a competition track for faculty/staff.  In the meantime, the CCEI is extending an invitation to all teams who submitted a letter of intent to compete in the competition to continue discussions and guide them to take advantage of resources The CCEI can bring to bear.

“Our ultimate intent at the Center for Entrepreneurship and Innovation is to identify, mentor and help develop new businesses here in Connecticut; PartsTech, along with Buses2, Sharelogical and the other finalists, represent terrific examples of such promising firms,” stated Christopher Levesque.

“The consistent and sheer volume of ideas that emanate from the student population year over year at UConn is amazing and inspiring,” says Danny Briere. “This is exactly the type of innovation that’s necessary to power our way towards more jobs and companies in the state.”

For more information about CCEI, please visit http://ccei.business.uconn.edu.

CONTACT

Christopher Levesque, Executive Director, Connecticut Center for Entrepreneurship & Innovation (CCEI)

clevesque@business.uconn.edu, 860-486-4594

Marie LeBlanc, Manager of Marketing and Publicity, UConn School of Business

mleblanc@business.uconn.edu, 860-486-6182

 


Spurring Innovation

University of Connecticut alumni and business leaders gathered on Thursday, May 10th, to attend the panel discussion, “Spurring Innovation: How UConn Enhances Entrepreneurship in Connecticut” on at UConn’s Graduate Business Learning Center in Hartford, Connecticut.

The discussion was moderated by UConn’s Vice President of Economic Development, Dr. Mary Holz-Clause and a panel of alumni which included:

Eric Knight ’82
Manager, Springboard Program
UConn Office of Technology Commercialization

Christopher Levesque ’87
Executive Director, Connecticut Center for Entrepreneurship and Innovation
UConn School of Business

Rita Zangari ’90
Executive Program Director, Technology Incubation Program
UConn Office of Technology Commercialization

The discussion covered topics about UConn’s entrepreneurial programs and incubator projects and how UConn is enhancing innovation and entrepreneurship in Connecticut through these programs led by the panelists.

Video of the panel discussion:
Part 1 – http://youtu.be/pOL3t8Frt6w
Part 2 – http://youtu.be/2yc5dk3Grjo


Building for Connecticut’s Success

“Connecticut is open for business, and we’re going to compete,” Governor Dannel P. Malloy emphasized on November 7th during a presentation at the Graduate Business Learning Center in downtown Hartford, Connecticut.  He was speaking to an audience of over 100 business leaders, community members, and University of Connecticut students and faculty members at the UConn Financial Accelerator’s latest premiere event, “Building for Connecticut’s Success.”  The audience gathered with an interest in the Governor’s insight on the role of financial services in Connecticut’s economic future, and the Governor was eager to address the multi-dimensional issue.

Building on Connecticut’s strengths

Governor Malloy posited questions to the audience, “Who are we?” as Connecticut and “what are our strengths?”  Looking to the past, Connecticut has been a financial services-driven state since the industrial revolution, and Malloy envisions a re-industrialization of the United States.  “If we didn’t build it, we financed it!” repeated Malloy, describing the nature of our state economy as one built for investment and high-volume and precision manufacturing. In particular, he noted that the areas of biosciences, insurance, aerospace, hedge funds, and insurance are growth industries for the state. By defining our strengths, and with a focus on technology and innovation, we can work to create a state that nurtures these industries to bring economic development and job creation to Connecticut.

With location and proximity as key factors in encouraging business and innovation among industries, it would be remiss to mention Connecticut’s advantageous position between New York City and Boston.  Also within the state, we have top institutions in higher education, including Yale and the University of Connecticut, which has recently been ranked as a Top 20 research institution by U.S. News & World Report.  Malloy underlined that “universities have to be part of our economic development as a state,” as the universities can act as economic drivers themselves.

The Bioscience Connecticut Initiative is a prime example of this partnership between government, higher education, and innovation, as it is poised to make the UConn Health Center a leader and a hub of research and clinical work in bioscience.  Malloy stated that he was able to deliver upon his promise by taking the opportunity to pursue Connecticut’s partnership with Jackson Laboratories.  Maine-based Jackson Laboratories will construct a research facility at the UConn Health Center and partner with higher education in order to foster the State’s reputation as a leader in the growing industry.

In addition, Malloy recognized the importance of new business, particularly in the realm of technology and innovation.  The State has invested in creating the UConn Technology Park at the Storrs, Connecticut campus, which will house flexible-use laboratories for collaborative research and business services. Other key initiatives include the Connecticut Center for Entrepreneurship and Innovation and the IP Factory, which both support what Malloy termed as the “monetization of invention.”  Malloy stated “I understand innovation and education,” as he warned that it would be a flaw in our economic development plans to not capitalize on the partnership of universities and government.  By encouraging this partnership, we encourage investment in the state of Connecticut.  “We need better support for invention,” stated Malloy.

Repositioning Connecticut

Competition with other states is a common theme for economic development, and repositioning the state is paramount to attracting new business and keeping current industry.  As one audience member noted, Connecticut has a reputation for being a high-regulation and high-cost state in which to do business.  While our cost of living in the state is difficult to address, Malloy noted that we could address regulation.

In response to the issue of state banks, a question another audience member posed to the Governor, the Governor responded that competition is critical.  The fact is that we have lost state banks to buy-outs from out-of-state banks. Also, due to given regulation and the current model of the banking industry, he’s unsure if we can still be a player.  However, by changing regulation and the lending environment to attract banks here, having state banks revisit old clients and lend to them again, lending to small businesses, and creating an environment of large investment, we can be competitive.

One particular example that Malloy raised was that of the hedge fund industry.  There has been a significant movement of hedge funds into Connecticut, and Malloy notes that it isn’t by accident.  Hedge funds are in a uniquely difficult situation in the post-Dodd-Frank climate which makes it challenging to create new enterprises. Competition for establishment is keener.  Connecticut has an advantage by having an environment where hedge funds are taxed less than the neighboring states. By focusing on bringing hedge funds into the state and giving them an environment to grow here, we will be able to carve and keep our niche in that industry.  The Governor expressed a will to fight to keep the tax advantage over other states as well.

Not only do we need to reposition the state to bring in new businesses, we need reposition the state to bring in and retain our workforce.  As one audience member commented, there has been a trend of college graduates of Connecticut institutions leaving the state after graduation.  The Governor countered that although this may be true, the State has been doing better at the retention of our college graduates, and in fact, the State is doing even better when it comes to importing graduates from neighboring states.  To encourage our Connecticut-educated workforce to stay in Connecticut, Malloy noted that we need more vibrant cities.  Stamford and New Haven have made great strides, but we need to be more urbanized and support education and investment.  We can succeed with a sustained commitment to monetary investment in and around universities.

Where do we go from here?

We want people to move into our state and grow industry, and in order to do this we need revenue for supporting who we are and what we want to be.  Malloy noted that he and his administration are currently focused on job growth, job creation, and job retention.  He stressed an importance of bipartisan agreement to continue to support angel investment, corporate investment, and reshape regulation.  Malloy spoke about new tools available for small businesses, which include subsidies for hiring and a portal for growing business.  In order to rejuvenate our economic industry, we need to build a supporting infrastructure and physical infrastructure, such as transportation.

About the event

This event is the fifth in a series of UConn Financial Accelerator Premiere Events.  Previous events included topics on the municipal debt crisis, the idea of too big to fail, Dodd-Frank legislation, and the Peter Principle as applied to the healthcare industry. This event, “Building for Connecticut’s Success” was sponsored by the University of Connecticut’s School of Business, The Phoenix, and the Hartford CFA Society.

The UConn Financial Accelerator is a financial, educational, and analytical research forum for the University of Connecticut’s School of Business and a pipeline of talent that enhances the local business community.  As a laboratory for project analysis, the Financial Accelerator utilizes a combination of students and highly trained faculty with access to cutting edge technology to develop timely solutions for complex, real-world business cases.  For more information about the Financial Accelerator, please visit http://accelerator.business.uconn.edu/ or contact Dr. Chinmoy Ghosh at 860.486.4431 or via email at cghosh@business.uconn.edu.


UConn’s EBV Program to Benefit from $50K Bank of America Grant

The Bank of America Foundation has announced a $50K grant to support the continued development and expansion of the Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) program at the University of Connecticut School of Business. The EBV program is an experiential business development initiative provided through a network of some of the best business schools in the United States, including UConn.

The EBV program was founded in 2007 to offer training in entrepreneurship and small business management to post-9/11 veterans with disabilities resulting from their military service. The aim of the program is to open the door to economic opportunity for veterans by developing competencies in the many steps and activities associated with creating and sustaining an entrepreneurial venture. More than 300 service-disabled veterans have graduated from the EBV program since its inception and graduates are responsible for the creation of more than 150 new, small businesses. The training is provided at no cost to eligible veterans and is currently offered at UConn, Syracuse, UCLA, Purdue, Florida State, Louisiana State University and Texas A&M University.

The University of Connecticut joined the EBV consortium in 2010 and conducted its first training program last fall. The EBV training consists of three stages: an online curriculum for 4 weeks; resident training on campus at an EBV university for 10 days; and mentoring and continued support for 12+ months. More than a dozen returning Iraq and Afghanistan combat veterans attended UConn’s initial classes on the Storrs campus. Going into its second year, Mike Zacchea, a retired Marine Lieutenant Colonel and highly decorated combat veteran who directs the program for UConn, anticipates doubling the number of veterans attending in 2011. UConn School of Business alumnus William S. Simon, Walmart U.S. president and CEO, was the featured speaker at the graduation ceremony held in Hartford last fall. Mr Simon will be returning to speak to the 2011 class of UConn’s EBV program at their graduation ceremony this October.

“I cannot think of a single more important endeavor for us than helping support those individuals who have committed so much of themselves on behalf of their nation,” says Dean Chris Earley of UConn’s School of Business. “The EBV program is unique and compelling in that we not only reach out to these highly deserving individuals, but we also help foster the economy through their business successes at a time that the nation needs such ingenuity and impact. We are extremely proud to be one of the host schools for the EBV program.”

“Supporting the EBV program is one way to show appreciation for the sacrifices of our brave men and women in uniform, while at the same time helping to fuel local economies,” said Kevin Cunningham, Bank of America Connecticut president. “In just four years, these budding entrepreneurs have created more than 150 small businesses across the country. This is an exciting partnership, particularly for our Connecticut employees who have served in the military or count themselves among UConn School of Business alumni.”

More information about the EBV Program at UConn is available at http://www.business.uconn.edu/ebv.

 


AACSB Extends Accreditation to the UConn School of Business

The Association to Advance Collegiate Schools of Business (AACSB), the accrediting agency for bachelor’s, master’s and doctoral degree programs in business administration and accounting, has extended the accreditation for the undergraduate, master’s and doctoral degree programs in business offered by the University of Connecticut through 2016.

The peer review team report notes that the University of Connecticut is to be commended on the following strengths and effective practices:

  • Experiential Learning – Experiential learning gives students hands-on experience with real business problems in business settings and allows the students to network with professionals in the participating companies. Experiential learning has several components including internships and the accelerator labs where students work with companies on projects.
  • Management and Engineering for Manufacturing – This is a joint degree between the School of Business and the School of Engineering that allows engineering students to learn cost accounting, valuation and capital budgeting skills.
  • Graduate Learning Business Center – Located in the heart of downtown Hartford, UConn’s Graduate Business Learning Center is a state-of-the-art facility with the latest technology and is also home to the MBA and Executive MBA programs as well as the SS&C Technologies Financial Accelerator.
  • STAR Accounts – Since 2008, each faculty member has been given a Supplementary Teaching and Research (STAR) Account, with funds for each faculty member to spend on any teaching or research activity and travel. Over the past year, more internal grants have been awarded through an open competition process for research and teaching development.

The School has continuously been accredited by the AACSB since 1957.

AACSB Accreditation is known, worldwide, as the longest standing, most recognized form of specialized/professional accreditation an institution and its business programs can earn. AACSB Accreditation Standards are used as the basis to evaluate a business school’s mission, operations, faculty qualifications and contributions, programs, and other critical areas. AACSB accreditation ensures students and parents that the business school is providing a top-quality education.

As of April 2011, 620 member institutions hold AACSB Accreditation. Overall, 38 countries are represented by AACSB-accredited schools. Only 10 percent of all U.S. colleges of business have all of their programs – accounting, business, undergraduate and graduate – accredited by AAACSB.