More SU Entrepreneurship Programs
Salisbury Downtown Center for Entrepreneurship – Opening in 2020
- The Salisbury University Downtown Center for Entrepreneurship will offer shared co-working space, “garages”, a “Makerspace”, and will host successful entrepreneurs from our competitions for 6-12 months at no charge. Annually our entrepreneurship competitions award around $300,000 to 36 student and community businesses. The goal of the center, with the help of our ecosystem partners, is to support, mentor and launch the feeder system of businesses into the community.
Student Entrepreneurship Competitions
- Salisbury University Perdue School of Business Student Entrepreneurship Competitions – Occurs each Spring. The Student Entrepreneurship Competition is a business plan competition open to any current Salisbury University students but you can have people on your team who are not current SU Students. This 30 plus year competition currently awards $100,000 cash, prizes and services to SU student teams. Students participate from all SU majors not just Perdue Business majors. Community and regional sponsors provide the awards and judge on the day of the competition. It includes 3 great competitions in one day! SU students have a chance to win prize money and business start-up awards to fund a business venture they dream of launching. Whether it’s a product or a service the options are endless! With the assistance of our ecosystem partners, we provide training workshops and mentor support to help our students catch the entrepreneurship spirit and turn their idea into reality. Students are not required to start their business in this competition but many do! Each year a number of these student businesses apply to our Ratcliffe Shore Hatchery Competition and a select group are invited to pitch their business in the Shore Hatchery.
- The Perdue School of Business Philip E. & Carol R. Ratcliffe Foundation Shore Hatchery is a bi-annual Mid-Atlantic business competition. The Shore Hatchery is open to any Mid-Atlantic business startup. You do not need to be an SU student. It is a five year $1 million initiative which began in 2013 and recently renewed for a second $1 million 5 year term. The program assists entrepreneurs in creating new jobs in the community. Startups apply for a share of $200,000 annually. The goal of the Shore Hatchery is to reward individuals for their entrepreneurial efforts in the creation and growth of businesses with the potential of positively impacting regional employment within three years. Businesses are required to report back to the Shore Hatchery board annually on their progress.
- Salisbury University has a significant amount of institutional resources, which could be translated into even greater economic development opportunities for surrounding large, mid-sized, and small businesses. For example, Salisbury University’s Perdue School of Business and its Entrepreneurship Competitions have become a critical part of the foundation of the Lower Eastern Shore’s economic development initiatives as it relates to small business development providing a stimulus of entrepreneurial excitement and activity in the region. Over the past 30 plus years, Salisbury University has awarded over $1.6 million through these competitions to area small businesses and start-ups and has collaborated with economic development offices and entrepreneurship support programs in the area. Salisbury University’s Small Business Development Office has assisted among the highest number of start-up companies at universities in the University System of Maryland and continues to help budding entrepreneurs develop and perfect their business plans.
The Innovation, Entrepreneurship and Economic Development Hub (The Hub)
- The Hub is centrally located in the Perdue School of Business. It provides support to aspiring campus entrepreneurs with resources for discovery, idea assessment, business plan development, and entrepreneurship competition readiness. In the Hub we provide mentorship, training, startup resources, and workshops. Open Monday – Friday 8 AM-5 PM.
- The Innovation Lab located inside the Innovation, Economic and Economic Development Hub (The Hub) brings exciting opportunities for new product development to all SU students and the campus community with 3D printing for prototyping and other emerging technologies to support the transformation of ideas to reality. The Innovation lab is open to all SU students, faculty and staff.