Augustana to offer $150,000 to student entrepreneurs
There's no road map for entrepreneurs, but several new resources at Augustana, including $150,000 in donor-funded grants, will help students better transfer their college experiences to life as an entrepreneur.
This spring, the Augustana Creative Enterprise Fund (ACEF) will begin providing students with funds to help start a business. Grants will range from $1,500 to $5,000. Four to six grants will be awarded each academic year
"The ACEF grants provide our students with the resources to pursue and launch their creative ideas together with planning, support and oversight," said Dr. Pareena Lawrence, Augustana provost. "Students now can experiment, test, launch, fail, regroup, learn and relaunch their entrepreneurial ideas.
"If we want to prepare our students to solve complex global challenges, we must nurture and foster creative thinking and help turn knowledge and skills into action."
• Details about the Creative Enterprise Fund
ACEF is open to students of all majors prior to their senior year. The grants will support those who have an interest in launching a venture that ties to Augustana's mission of "challenging and preparing students for lives of leadership and service in a complex and changing world."
The grants support a wide range of opportunities, including:
• Business and social entrepreneurship
• Education ventures
• Sustainable community development programs, both domestic and in developing countries
• Fine and performing arts
Alumni entrepreneurs
Augustana has many alumni who have used their liberal arts experience to become entrepreneurs. They include:
Dr. Arnold Cowan '77, a professor at Iowa State University, Ames, who developed software to support his teaching in the areas of economics and finance.
Warner A. Cruz '94 of Itasca, Ill., who owns J.C. Restoration, a disaster restoration business. Cruz bought the company from his parents, and has grown and diversified it.
Aaron Kennedy '85, founder of the Noodles & Company restaurant chain, is now Colorado's chief marketing officer.
Jera Deal '96, who owns Sticks and Stones, a photo keepsake business based in Peoria, Ill. Her one-of-a-kind creations can be purchased in boutiques and catalogs, and famous customers include Oprah Winfrey, Rachel Ray and the Obama Family.
Rick John '79, who owns and leads the Sedona Group based in Moline, Ill. The Sedona Group offers job placement, payroll services and other functions that often are outsourced by other companies.
John Lucken '62 of Akron, Iowa, who sees the opportunity to use meat renderings for creating biodiesel. He leads Natural Innovative Renewable Energy, L.L.C.
Matt McSparin '84, an entrepreneur in Edwardsville, Ill., owning M5SPORTS. Among his ventures, he is president and CEO of Edison's entertainment complex in Edwardsville, where families and local college students enjoy bowling, laser tag, an arcade and more.
Barry Stoughton '68, a math teacher who was challenged by a friend to develop a track pad for bulldozers. Stoughton came up with the idea of manufacturing the industry's first polyurethane track pads, and today he owns BLS Enterprises, Inc. in Bensenville, Ill.
Annette Zapolis '09, who owns and manages Cool Beanz just a few blocks from the Augustana campus. In her third year as a geology major at Augustana, she started to research coffee, espresso, restaurant management and Rock Island's needs. Three months after graduation, Zapolis opened the coffee shop.