Southern Methodist University - Graduate

MBA VENTURE FUND
Initially funded in 2000 by two outstanding entrepreneurs -- Phil Romano, president of Romano Concepts and founder of such restaurants as Macaroni Grill and Fuddruckers, and Ken Morris, co-founder of PeopleSoft, the MBA Venture Fund has made six investments to date, and the valuation has more than doubled.  The fund currently has more than $1M in cash remaining to invest.  Students make fund-investment recommendations in growth-oriented enterprises.

SOUTHWEST VENTURE FORUM
In 1990, the Caruth Institute began operating the Southwest Venture Forum.  This is a bimonthly breakfast meeting where entrepreneurs meet with venture investors and professional service providers to raise capital and obtain advice. Speakers and panels provide timely and up-to-date information about the venture investment environment, and at each meeting, two high-potential entrepreneurs are chosen to present their business plans to the group.  The forum allows students to interact with entrepreneurs starting a business and active investors deploying venture capital.  Students also see how professional business plans are presented to venture capitalists.   Attendees consist of entrepreneurs, venture investors, bankers, attorneys, accountants, and consultants working with early- and intermediate-stage growth-oriented entrepreneurs and their firms. Additional information can be found at
http://www.cox.smu.edu/web/caruth-institute/southwest-venture-forum

DALLAS 100™ AWARDS
Co-founded by the Caruth Institute for Entrepreneurship in 1990, the Dallas 100™ Awards is an annual event that identifies and honors the 100 fastest growing, privately held companies in the Dallas area, with whom students have the ability to interact. 

The Dallas 100™ Awards allows students the opportunity to meet and network with entrepreneurs from these dynamic companies.  Annual growth of Dallas 100™ companies averages 100 percent a year for the last two years, and their sales total $4B in the most recent year.  

STARTING A BUSINESS: THE SMU ENTREPRENEUR COURSE
Not only does the Caruth Institute teach enrolled for-credit students, but since 1972, it has offered its expertise to budding entrepreneurs within the DFW community. The course has been offered consistently one night per week for eight weeks, three times a year – with spring, summer and fall sessions – for 38 years.

A non-credit certificate program – Starting A Business: The SMU Entrepreneur Course – offers non-traditional students the opportunity to study entrepreneurship.   Additional information may be found at
http://www.cox.smu.edu/web/caruth-institute/starting-a-business

MBA BUSINESS PLAN COMPETITION
Since its inception in 2001, the SMU MBA Business Plan Competition has been instrumental in helping graduate students learn how to write and present a business plan to a wide range of potential investors.  This year, five teams competed for more than $60K in cash and prizes.  Winning teams from the SMU MBA Business Plan Competition often go on to represent SMU Cox at other business plan competitions throughout the country.  Most recently, SMU Cox was one of only four business schools nationwide to have two teams represented in the prestigious Rice Business Plan 2009 competition, joining MIT, Johns Hopkins and Stanford. 

EMBA BUSINESS PLAN COMPETITION
For six years, SMU Cox has offered a distinct business plan competition just for Executive MBA (EMBA) students.  This past year the competition offered $7K in prize money. The winning company was selected by a highly respected local venture capital firm who also provided prize money for the winner.

VC PRACTICUM COURSE
In its sixth year of offering, highly selected teams of two Cox graduate students were placed with prominent local venture capital firms and engaged in numerous projects in financial modeling, due diligence and opportunity analysis.  Furthermore, each team was required to identify an investable opportunity and present it to the board of the MBA Venture Fund as a possible investment.

Starting a Business I – A course that provides students with an awareness of what it takes to be a successful entrepreneur and explores the creation of value through the process of starting a new business venture.  Covers topics including personal characteristics of successful entrepreneurs, identification of windows of opportunity, development of a viable business concept, analysis of competition and market opportunities, evolution of an entrepreneurial strategy, creation of a marketing plan for an entrepreneurial venture, development of a sales forecast and preparation of comprehensive financial forecasts.

Starting a Business II – A course that teaches students the skills required to prepare and present a professional business plan for an entrepreneurial venture.  Enhances the analytical skills needed to identify and properly evaluate a new business opportunity.  Covers topics such as an exploration of financing options for the entrepreneurial company and development of a financing plan, overview of the venture capital process, and preparation and presentation of a professional business plan.  Includes guest lectures from practicing entrepreneurs who have sought venture capital.  Prerequisite: Starting a Business I.

Teaming with Venture Investors – A course that examines business practices and applications that are unique to the venture-funded, early-state company. Develops an understanding of how building a fast-growth venture-backed company is different from building a company using the entrepreneur’s own funds or those of friends or relatives.  Teaches the student management techniques, organizational processes and collaboration models that will contribute to success as an entrepreneurial executive in a venture-backed enterprise.  Covers topics such as what the venture investor looks for; evaluation of the entrepreneur’s role as CEO; and board responsibilities, leadership and behavior.  Gives the student the ability to recognize and overcome the key challenges and typical mistakes that lead to failure in the early-stage, venture-backed company. 

Venturing in China – A systematic approach for investing in China based on the best and most current international investment practices customized for China.  Focuses on the investment process and the critical steps including: 1) developing a supply of investments of the desired variety, 2) evaluating and selecting investments that meet established investment criteria, 3) negotiating and structuring investments, 4) adding value to the investments by assisting management to achieve their business objectives, and 5) monitoring those investments (in particular through an initial public offering.) Teaches students how to develop a market entry plan for entering a specific industry and a specific geography in China.

The SMU Cox Master of Science in Entrepreneurship provides the skills and insights students need to take their current business to a new level, launch a company or elevate the service you provided to clients. The 16-month evening and weekend schedule allows students to continue working while gaining the necessary business skills to be successful in an entrepreneurial venture. The curriculum provides a solid foundation in entrepreneurial management by combining basic disciplines of finance, accounting, operations, strategy, marketing and management with advanced courses in entrepreneurial studies.

Cox MBAs, a concentration in Strategy and Entrepreneurship offers the strategies, tactics, and hands-on learning experiences necessary to build and manage your own business while coping with the uncertainties of the marketplace. Students who chose this concentration benefit from the Cox School's Caruth Institute for Entrepreneurship. Since 1972, the Caruth Institute has continuously developed innovative MBA courses and programs to keep pace with the rapidly evolving field of entrepreneurship.

Entrepreneur magazine and The Princeton Review rank SMU Cox in the top 25 for top graduate entrepreneurship programs in the nation.

SMU Cox is the only business school in the Southwest whose full-time, Executive and Professional MBA programs all rank in the top 20 according to leading business publications such as BusinessWeek, U.S. News & World Report and The Wall Street Journal.

Editorial positions:

Dr. Maria Minniti, professor and Bobby B. Lyle Chair in entrepreneurship, serves as Field Editor for Journal of Business Venturing (2009-present) and Associate Editor for Small Business Economics Journal (2004-present).

School type: Private

Rolling Admission: Yes

Application fee:  $75

Student Profile:
Enrollment: 235                    MSE 14

Average GMAT: 656                    MSE 610

GMAT Range (25-75%): 580-720             MSE 550-690

Average Undergrad GPA: 3.24            MSE 2.8

Average Age: 27                     MSE 32

Average Work Experience (months): 50         MSE 90

Acceptance Rate: 36%                MSE 95%

Percentage of international students:  18%        MSE NA

Percentage of minority students:  12%         MSE 36%

Programs & Curriculum:
Part Time Program: Yes

Evening Program: Yes

Executive MBA Program Offered: Yes

Faculty Profile:
Number of full-time faculty: 93%

Student/Faculty ratio: 12/1

Employment:

Average Starting Salary:  $83,381

Graduates employed at graduation:  61%

Start their own business: %3

Hired Consulting: %14

Hired Finance: %46

Hired Operations: %7

Hired Marketing: %25

Financial:
Out-of-State Tuition:  $37,692

In-State Tuition: $37,692

Financial Aid Deadline: No deadline

Students Receiving Some Aid:  77%

Average Annual Total Financial Aid:  $40,716

Patti Cudney
MBA Admissions
P.O. Box 750333
Dallas, TX  75275
pcudney@cox.smu.edu
214.768.3001

Vicki Cartwright
MSE Admissions
P.O. Box 750333
Dallas, TX  75275
vcartwri@cox.smu.edu
214.768.3707

Jerry White
Director of the Caruth Institute for Entrepreneurship
P.O. Box 750333
Dallas, TX  75275
jwhite@cox.smu.edu
214.768.3689