UA Entrepreneurship Program Moves Up to 18th Nationally

TUSCALOOSA, Ala. – The undergraduate entrepreneurship program at the Culverhouse College of Commerce at The University of Alabama moved up two places to No. 18 in rankings just released by Entrepreneur magazine and The Princeton Review.

Dr. Louis Marino, associate professor of management and director of the UA entrepreneurship program, said the success of the entrepreneurship program is attributable to the growing interest in entrepreneurship that has spread across the entire University of Alabama campus.

“We are, of course, gratified that the program has been recognized as one of the best undergraduate entrepreneurship programs, but we view our true success as being measured by how well we serve our students and the state of Alabama by preparing students to found new firms and to assume leadership roles in rapidly growing enterprises,” Marino said.

A number of criteria were factored in to evaluate UA and other colleges and universities, including the entrepreneurial emphasis of the curriculum, mentoring, experiential learning, faculty credentials, and the success of graduating students and alumni. High-ranking schools demonstrated a commitment to practical, hands-on experiential learning to provide the skills that translate into real-world businesses.

Marino said the UA program has designed a number of programs to encourage entrepreneurship at UA and throughout the state.

“For example, the newly established Alabama Entrepreneurship Institute will sponsor, among other programs, a business plan competition for high school students throughout the state of Alabama this spring, as well as an elevator pitch competition, and a venture forum that brings entrepreneurs and investors together.

“We also help entrepreneurship students find experienced mentors to help them found and grow their businesses, as well as internships for those seeking experience in entrepreneurial firms. The University’s Students in Free Enterprise team, under the direction of David Ford, is also engaged in a number of programs that reach entrepreneurs in the local community, and the African-American Student Government Association sponsors an annual African-American business plan competition on campus.”

The UA Students in Free Enterprise team finished as the first runner-up in the SIFE regional competition earlier this year, another indication of the strength of the entrepreneurial program.

Marino said colleges across the campus help students engage in activities that promote innovation and entrepreneurship. The UA Entrepreneurship Council, operating under the auspices of Dr. Joe Benson, UA interim vice president for research, has proclaimed the 2007-2008 academic year as the “Year of Entrepreneurship” at UA.

To support the initiatives of programs throughout campus, the Entrepreneurship Program at the Culverhouse College of Commerce has established an entrepreneurship minor that is available to any student on campus as well as a certificate program for business majors.

“We are very excited about the future of entrepreneurship in the Culverhouse College of Commerce, at The University of Alabama, and throughout the state,” said Dr. J. Barry Mason, dean of the business school. “Entrepreneurship, innovation and family businesses have always played important roles in the state, and we are fortunate to have the opportunity to help strengthen these competencies and to play a leadership role in the success of our next generation of entrepreneurs.”

A nearly 30 percent increase in participating schools with this year’s ranking underscores the growing number of entrepreneurial courses nationwide and the established mainstream appeal of business ownership.

All 900 schools surveyed were evaluated based on key criteria in the areas of academics and requirements, students and faculty, and outside-the-classroom support and experiences. A total of 50 schools, 25 undergraduate and 25 graduate schools, made the list, with several others receiving honorable mentions.

“For years now, schools have been responding to student demand for competitive entrepreneurial programs,” says Rieva Lesonsky, senior vice president and editorial director of Entrepreneur magazine. “The newly emerging trends are in programs that focus on women-owned as well as environmentally and socially conscious businesses. Strong alumni networks, emphasis on feasibility studies, and activities for engaging in the local business community continue to be key points among entrepreneurs looking for programs that fit their needs.”

The survey questions for the annual top colleges ranking are revisited each year to ensure that clear, concise and appropriate data is collected. Robert Franek of The Princeton Review says this year, “New questions allowed for more program-specific elements to come to the surface.” This gives prospective students more of the essential information they need to start exploring programs that can prepare them for greater success in their business ventures.

The Culverhouse College of Commerce and Business Administration was established in 1919, and in 1929 it became the 38th school to earn admission into the American Association of Collegiate Schools of Business. The excellence of the UA business school has been acknowledged on a national level. In addition to the entrepreneurship ranking, the undergraduate program is ranked 29th among public universities by U.S. News, and the Culverhouse School of Accountancy is ranked 15th among public universities by U.S. News. The graduate accounting program is ranked 15th and the undergraduate program 14th by Public Accounting Report.