A great idea can be born at any time, and for John Goscha, a previous student of Babson College, this inspiration came in the form of “IdeaPaint” back when he was living at the establishment, trying to take his first steps on the road to becoming an entrepreneur. According to him, since many of his professors were entrepreneurs themselves, the idea itself would have floundered without them. While the concept for paint that functioned in a similar manner to a dry erase board, it gained footing with the assistance of college professors, some of which even invested in the project right at the beginning.
IdeaPaint Spreads Its Wings With The Help Of Babson College
Ten years after Goscha came up with the idea for the wonder paint called IdeaPaint, it is being sold in 20 countries around the world. The company itself boasts around $20 million in terms of annual sales, and currently employs 35 people; it has come a long way from the dorm room in which it was born.
Babson And The Rise Of The Entrepreneurs
Babson College is an institution that was established in 1919. It is located in Massachusetts and students can expect to pay around $57,000 per year in tuition fees. While the establishment itself is small compared to some of the larger colleges around the country, it has a big reputation within the world of business, especially in terms of their focus on entrepreneurship.
Those that would like to study at Babson can expect to sign up for Foundations of Management and Entrepreneurship, which is a requirement of the institution, and to start them off in the world of business, they are given $3,000 to form their first “startup” whereby all profits are given to charity and once the year has come to an end, they will need to liquidate. This is a practical method of teaching students exactly what they can expect from the industry once they leave the institution, and according to the president of the establishment, Leonard Schlesinger, “We want them to go through the whole cycle”.
Molding Successful Entrepreneurs For Generations
One of the reasons why Babson might be so successful in molding successful entrepreneurs is the fact that the leaders within the facility all have experience in this industry. According to Schlesinger, “One hundred percent of my faculty have entrepreneurship experience. It’s a hiring requirement”. This fact also means that mentors are easy to come by within the college, and this is something that is integral to learning sound business practices, especially within this industry that is constantly evolving.
Critics can say what they like; the college seems to be doing something right. With all of the successful alumni that have passed through their doors, including William Green, cofounder of the Home Depot, the faculty and staff members might just have found the ingredients for producing some of the great thinkers of our time, and it remains to be seen just who will pass through their walls in the future.