Last night at the Dartmouth Entrepreneurial Network Innovation Center, director of entrepreneurship and DEN Jamie Coughlin gave a lecture on venture formation as part of DEN’s six-week “Six to Start Startup Bootcamp.” The program aims to educate students, faculty, alumni and community members interested in entrepreneurship and start-ups, featuring workshops that address various business-related topics.
Coughlin said the series was started a year ago under the title “DEN Startup Bootcamp.” DEN offered the program last fall and was not planning on offering it this winter, but demand and interest were so strong that the network decided to extend the option again, he said.
Each week’s program has a different emphasis, such as idea generation, market analysis, product development, venture formation and venture financing, Coughlin said.
Coughlin said the program also allows members to apply for founder grants, which provide entrepreneurs with up to $5,000 to pursue their innovations.
About 20 people attended last night’s discussion-oriented lecture. The event had a casual structure, allowing opportunities for attendees to ask questions to both Coughlin and each other.
During his lecture, Coughlin discussed the mechanics of forming a startup, including finding a target market, developing connections and managing a company.
He noted the importance of developing relationships with consumers and being sensitive to the needs of the market. He added that the risk and time investment required are significant, so entrepreneurs need to be judicious about how they allocate resources and select potential business partners.
Coughlin stressed the importance of investment and determination in entrepreneurship.
“People need to be willing to roll up their sleeves and dig deep,” he said.
He added that failure is somewhat inevitable and entrepreneurs need to be prepared to overcome challenges. For example, applying for patents can be difficult, as many potential ideas have already been patented, he said, which can be a major setback.
Andy Wilson ’88 , an entrepreneur who has founded a number of software start-ups, said that cofounders must discuss risk and time investment from the beginning in order to eventually achieve entrepreneurial success.
The series aims to guide people at all different points in their entrepreneurial journeys, Coughlin said.
The program also invites members to participate in The Pitch, an event co-hosted by the Digital Arts Leadership and Innovation Lab and DEN that offers an opportunity for potential entrepreneurs to win funding and design and developmental support. At The Pitch, students, faculty and staff introduce ideas for potential start-ups in two-minute presentations in front of an audience and a panel of judges.
Brian Malik G’17 said this series is his first experience with entrepreneurship. Malik, a molecular and chemical biology doctoral student, said that he is interested in biotechnology startups and appreciates that DEN is providing him with a panoramic perspective of a path he may want to pursue in the future.
Graduate student Lia Harrington, a first-year doctoral student in quantitative and biomedical sciences, said that she is interested in quantitative analysis and biotechnology startups. The series has given her a comprehensive introduction to what entrepreneurship in that field might entail, she said.
DEN focuses on education, business development commercialization and strategy to support the entrepreneurship of the Dartmouth community. The network includes over 45,000 people, according to DEN’s website. It offers a range of services, including networking opportunities, one-on-one mentoring and workshops.
DEN takes advantage of the creative and innovative alumni of the College by encouraging them to be part of this program, Coughlin said.
“Dartmouth’s greatest strength is its amazing alumni network,” he said.
What sets this program apart from the other programs DEN offers is its diverse audience, Coughlin said. DEN gives people with different backgrounds and levels of experience the chance to communicate, network and offer each other advice, he added.
“The big picture at DEN is to organize and energize,” Coughlin said.
