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The The Larry and Carol Levy Institute for Entrepreneurial Practice, founded in 2003, is the resource center for entrepreneurship within Northwestern University 's Kellogg School of Management. The Institute puts on several events each year in an attempt to bring Kellogg students in contact with entrepreneurs. The Institute has been recognized in Entrepreneur (magazine)’s Top 25 Entrepreneurial Graduate Programs of 2009.

Curriculum

In conjunction with Kellogg, The Levy Institute offers MBA students various classes pertaining to entrepreneurship, 29 of which qualify a student for the entrepreneurship major. The major is comprised of 3 credits, including one required major course (ENTR 462). The additional courses can be selected from a list of those courses that qualify for the major. Classes offered include:

Business Law for Entrepreneurs
Corporate Innovation and New Ventures ("Intrapreneurship")
Corporate Renewal/Managing Turnarounds
Entrepreneurial Finance
Entrepreneurial Selling: Skills and Strategy
Entrepreneurship and New Venture Formulation
Family Enterprises
The Human Element in Private Equity Investing
Social Entrepreneurship in the Developing World
Medical Innovations
Social Entrepreneurship
Strategic Franchising
Successful Entrepreneurship
Understanding and Managing Risk
Venture Capital and Private Equity Investing
Creating Brand Values
International Social Entrepreneurship
Intellectual Property Management
Driving Organic Growth and Innovation
Process Management Values and Crisis Decision-Making
Social Entrepreneurship and Social Enterprise
Organizational Dynamics in Entrepreneurial Firms
Innovation and New Product Design
Entrepreneurial Marketing
International Marketing
Leadership in High-Growth Organizations
Biotechnology Entrepreneurship
Negotiations for Entrepreneurs
Entrepreneurial Teams
Technology Marketing
Communications for Entrepreneurs

Experiential Learning Initiative

Recently the Institute has enacted several programs in an attempt to connect Kellogg students to actual management issues and problems. Some of the experiential learning programs the Levy Institute offers are:

Entrepreneur in Residence: This program was developed for students interested in entrepreneurship to learn from experienced entrepreneurs in a one-on-one setting. An entrepreneur is invited to spend a day meeting with up to seventeen students in 30-minute sessions to answer questions and to provide advice.

Entrepreneurship Internship: First-year, full-time MBA students are matched with entrepreneurs for an an eight-week internship at a small, high-growth business located in the Chicagoland region. Host companies provide projects and environments that offer students experiential learning. Students meet as a group with the program facilitator throughout the internship to discuss their experiences and prepare a midterm report.

Entrepreneur Associates: Entrepreneur Associates volunteer to create the Kellogg school's entrepreneurship activities, including such things as research projects, Executive Education programs, the Entrepreneur In Residence program, Tour de KAE, the Kellogg Cup Competition and the Kellogg Alumni Entrepreneurs Conference. The student's time commitment is approximately 6-10 hours per week for two quarters.

Entrepreneurs Organization (KEO): KEO is a group of 20 Kellogg students, in both the full-time and part-time programs, who are active with existing entrepreneurial ventures. Participants meet monthly to address entrepreneurial challenges and opportunities.

Family Business Organization (KFBO): Born out of KEO, 20 students meet monthly to share issues and challenges regarding their family business.

Entrepreneurship Club: The Kellogg Entrepreneurship Club promotes entrepreneurship on the Northwestern University campus. Speaker and workshop events feature Kellogg alumni entrepreneurs, venture capitalists, and midsized innovative companies. Club leaders advise students with academic planning and career options. The club supports Entrepreneurship Treks to Silicon Valley and downtown Chicago, the annual alumni entrepreneurship conference and the Kellogg Cup business plan competition. As a chapter of Northwestern's InNUvation club, business students interact with students with a variety of entrepreneurial interests.

Northwestern University Nanotechnology Institute and Kellogg School of Management: Small Business Evaluation and Entrepreneur's Program (SBEE): Dr. Chad Merkin, director of the International Institute for Nanotechnology at Northwestern University, annually unites with Kellogg to bring together nanoscientists with advanced MBA students.

VC Dinner Series (Part-Time MBA Program)-Creating Connections: Part-time MBA students meet with venture capital industry professionals in a variety of forums for discussion and socializing.

Madison Dearborn Partners Breakfast for Students and Faculty: A monthly visit for up to 20 Kellogg School students and faculty to attend a talk at the downtown Chicago Madison Dearborn headquarters.

Case Study Series on Entrepreneurship

Professor Steven Rogers initiated the development and publication of a series of case studies on entrepreneurship and the financing of entrepreneurial ventures. In total, 70 cases will be written, each by an entrepreneurship faculty member and each featuring a Kellogg alumnus entrepreneur. This case series is supported by the Office of the Dean and the June 2007 Executive Management Class (EMP 67), Miami Campus. Until recently, Harvard Business School had held a monopoly in case study distribution through their publishing company. The Levy Institute has joined other business programs such as Wharton in creating case studies that featur

Faculty and Administration

Several members of the part and full-time faculty in the entrepreneurship program have been, or are, successful entrepreneurs with their on businesses. Four members of the faculty have received the Ernst & Young Entrepreneur of the Year Award in the "Supporter" category. The Entrepreneurship Faculty Include:

Steven S. Rogers: Gordon and Llura Gund Family Professor of Entrepreneurship; Director, Levy Institute; Director, Entrepreneurship Program; Clinical Professor of Finance/Entrepreneurial Finance
1998 Ernst and Young Entrepreneur of the Year

Dipak C. Jain: Dean, Kellogg School of Management; Sandy and Morton Goldman Professor in Entrepreneurial Studies; Professor of Marketing
2008 Ernst and Young Entrepreneur of the Year

Morton I. Kamien: Joseph and Carol Levy Distinguished Professor of Entrepreneurship

Scott Stern: Associate Professor of Technology Management and Innovation

Donald P. Jacobs: Dean Emeritus; Gaylord Freeman Professor of Banking

Derrick Collins: Clinical Professor of Finance/Venture Capital

Annette Krauss: Senior Lecturer of International Social Entrepreneurship

Barry Merkin: Clinical Professor of Entrepreneurship/New Business Ventures
2000 Ernst and Young Entrepreneur of the Year
Chairman and CEO of Dresher, Inc

Lloyd Shefsky: Co-Director, Center for Family Enterprises; Clinical Professor of Entrepreneurship
1995 Ernst and Young Entrepreneur of the Year
Founder of Shefsky & Froelich Ltd.

James B. Shein: Clinical Professor of Management & Strategy/Managing Turnarounds and New Business Ventures

John Ward: Co-Director, Center for Family Enterprises; Clinical Professor of Management/Family Enterprises

Craig Bradley: Lecturer of Business Law

Cheryl Mayberry-McKissack '89: Lecturer of Entrepreneurship/Entrepreneurial Selling
President and CEO of Nia Enterprises, LLC

Burton Cohen: Lecturer of Management/Strategic Franchising
Managing Partner of Burton D. Cohen & Associates, LLC

Greg White: Lecturer of Entrepreneurship/Venture Capital
President & CEO of LEARN Charter Schools

Williams Sutter, Jr.: Lecturer of Finance/Venture Capital & Private Equity
Managing Partner of Hopewell Ventures

Marianne Woodward: Lecturer of Social Entrepreneurship
Founder of Mission Possible

Robert C. Wolcott: Founder and Executive Director, Kellogg Innovation Network

Scott T. Whitaker '97: Associate Director, Levy Institute

Sheneen Landry: Program Manager, Levy Institute

Brenda McDaniel: Program Administrator, Levy Institute

Thane Gauthier '05: Levy Entrepreneur Fellow

Competitions and Conferences

The Annual Alumni Entrepreneur Conference: Sponsored by Feldco CEO Doug Cook '98, the annual conference is held in May. Two-hundred fifty attendees gather to celebrate their success, continue their education, network and exchange ideas through interactive case studies and panel discussions. Kellogg alumni total seventy percent of the audience, and students, faculty and other entrepreneurs comprise the balance. Part of the day-long conference includes interaction with Marketplace vendors - Kellogg alumni that put their businesses on display in a dedicated room for networking and to do business.

Business Plan Competition: The Kellogg Cup Business Plan Competition, sponsored by Loop Capital, Jim Reynolds '82, founder, has as its goal to expand each student's understanding of today's new venture process. Participants work with faculty and mentors to prepare presentations for the judges. Building on the strength of the core class, ENTR 462: New Venture Formulation, teams advance to the semi-final rounds and the final round based on their mastery of skills in research, synthesis, persuasion, presentation and more. Participants must be able to make an impact and be concise and analytical in their written and oral presentations. Entrepreneurial ventures and venture capital funding select the winner of the Kellogg Cup.

Social Venture Capital Investment Competition: The annual SVCI competition is hosted by the Kenan-Flagler Business School at the University of North Carolina. Playing the role of venture capitalists, the teams interact with real entrepreneurs from real companies to evaluate business plans for VC funding, and develop an investment strategy that they pitch to venture capitalists. Teams are judged on their ability to identify and mitigate risk, VC industry knowledge, application of triple-bottom line frameworks, communication and teamwork.

Turnaround Management Conference "Leading Corporate Renewal": The annual Turnaround Management Conference is a forum for senior executive, managers, investors and students to discuss the critical elements of leading a successful turnaround. "Leading Corporate Renewal" discusses taking an entrepreneurial approach to analyzing troubled products, divisions and companies.

Turnaround Management Competition: Teams have one week to prepare in this competition, which includes submitting a written analyses and conclusion in addition to preparing three presentations for the three panels of judges. Kellogg School teams won first place twice in three years at the annual ABI Corporate Restructuring Competition. The 2008 team offered advice on liquidity, capital structure, debt capacity and valuation. Through their victory, the Kellogg School's name was engraved on the Bettina M. Whyte '75 trophy.

Notable Alumni

Several Kellogg Alumni have gone on to be entrepreneurs, 13 or whom have received the Ernst & Young Entrepreneur of the Year Award. According to a ModelMetrics survey done in 2006, 85% of Kellogg alumni are involved in an entrepreneurial venture. of that 85%, 45% are founders of a company while the remaining 55% are part of an entrepreneurial team. Kellogg entrepreneurs have created 329 businesses, over 7,200 jobs, and $1 billion in revenue.

Entrepreneurs of the Year:
William Angrick '95, Co-founder, Liquidity Services, Inc.
Stephen Baird '85, CEO, Baird & Warner
Selim Bassoul '81, CEO, Middleby Corporation
Subhash Bedi '99 and Parry Sigh '99, Co-founders, EthnicGrocer.com
James Crouthamel '92, Founder, Performics, Inc.
Ronald Gavillet '95, Founder, Neutral Tandem, Inc.
Sunil Hirani '94, Founder, Creditex Group
Gregory Jones '92, CEO, uBid, Inc.
Larry Levy '67, Founder, Levy Restaurants
Patrick G. Ryan '59, Aon Corporation
William Sanger '88, Founder, Emergency Medical Services Corporation
Luke Yeransian '93, Founder, Aspen Holdings

Other Notable Alumni:
Peter Cobb, Co-founder, ebags.com
John Wood, Founder and CEO, Room to Read