The Academy’s Faculty Fellows in Entrepreneurship Program has been its flagship initiative. 59 faculty members representing 12 colleges and schools, and 34 departments have become Faculty Fellows in Entrepreneurship. As a direct result of this initiative, the number of courses with entrepreneurship content offered across campus has more than doubled, as has the number of faculty teaching entrepreneurship, the undergraduate enrollment in entrepreneurship courses, and the graduate enrollment in entrepreneurship courses.
- Some of the courses have attracted national attention. One example is “Product and Market Development for Subsistence Marketplaces,” developed by Faculty Fellow Dr. Madhu Viswanathan, which was selected by Inc. magazine as one of the “Best Courses” nationwide in 2011.
- In addition to the individual courses, entire programs with entrepreneurship content have been launched since 2004, including the Master of Science degree in Technology Management, the Certificate of Entrepreneurship and Management in the Life Sciences, and the “Certificate in Business” modules for graduate students and staff across the University.
Since 2004, over 120 Illinois researchers, representing every degree-granting unit on campus, have produced dissertations (33), book chapters, conference papers and especially scholarly journal articles indexed in ISI – in total nearly 200 publications with an entrepreneurship and innovation focus. Since 2005, the University of Illinois has been the recipient of over 120 grants totaling more than $18,000,000 awarded for entrepreneurship, innovation, and/or small business related research, outreach and education.
The Academy aided by a $500,000 gift from Albert and Alexander Goldstein, created “Illinois Launch” as part of a campus-wide effort to establish a “pipeline” of programs that support and foster student entrepreneurship and new business creation. In the first four years, Illinois Launch has successfully helped to support over 50 new ventures; 34 of which have received over $1.3M in aggregate funding through Illinois Launch grants, venture capital and angel investments. Twelve companies are already generating revenue.