A successful presentation by The University of Memphis canpotentially bring up to $5 million to The University to increaseentrepreneurial education.
The Ewing Marion Kauffman Foundation of Kansas City, Mo., willbe awarding grants in December to help universities fund programsdesigned to stimulate entrepreneurship.
"Our founder really believed in the power of entrepreneurship,"said Wendy Guillies, spokesperson for the foundation. "Followinghis mandates, this foundation has become one of the few in thenation that focuses primarily on entrepreneurship."
Competing with The University for the coveted funds are 14 otherschools from across the country that survived the initial cut inJune from 30 to 15.
The competitors range in size and notoriety from the Universityof North Carolina, which was, according to U.S. News and WorldReport magazine's 2002 "America's Best Colleges" guide, the fifthbest public university in the nation, to the relatively small,historically black Howard University in Washington.
"Some of the criteria the board will be looking for will includehow the institution will use the grant to make entrepreneurshipeducation more accessible and the commitment of the institution'sleadership," said Guillies.
The catch is that the schools that receive the $5 million grantwill have to match the funds two to one.
"But that's not to say that each winner has to come up with $10million," Gullies said. "The grants are for a maximum of $5million, so an institution may apply for less."
Presentation teams from the 15 schools will make final proposalsto the foundation the last week of November.
University President Shirley Raines will spearhead The U of Mpresentation team, backed by a committee co-chaired by Vice ProvostJohn Haddock, and Stanley Hyland, head of School of Urban Affairsand Public Policy.
"Our presentation is unique in that we are the only groupfocusing on civil entrepreneurship as supposed to financial,"Hyland said.
The University's presentation will include strategies toincrease social values as well as area economic values, Hylandsaid.
Even if The University does not win the grant, the process hasbrought valuable national exposure to the school and stimulatedpositive ideas that will be of benefit to The University and itssurrounding community, Hyland said.
"One definite positive is that we see the need to connect ourleadership and small-business-type classes in a type ofentrepreneurial class track," he added.
