Ivey New Venture Project

Every year at Ivey, the HBA and MBA classes have the opportunity to participate in the New Venture Project (NVP). The NVP is an entrepreneurial, team-based final project that takes students through the process of developing and launching a new venture from conceptualization to formation.

Students wishing to participate in the project formed groups of three to five and began the ideation/brainstorming process. Participation in NVP was based on submission of a competitive application which was evaluated on the merits of creativity and innovation, clarity of value proposition, engagement and passion of team members, and ability to move the idea forward. Once selected, the teams were able to test and refine their concepts through participation in entrepreneurial skill-building classes, high profile business plan competitions and coaching sessions with Ivey faculty and established Entrepreneurs-in-Residence (EIR). The NVP culminates with the submission of a written plan and a live ‘pitch’ to an external venture review panel.

This year, the EIR who championed the MBA NVP was Ron Close. Ron is currently an EIR at MaRS Discovery District where he helps science, technology and social entrepreneurs commercialize their new ventures. Recently, Ron was President, Bell New Ventures, responsible for driving material innovation at bell. Ron is an experience entrepreneur himself: In 1995, he was co-founder, President/CEO of Netcom Canada, and in 1999 he sold Netcom and became the President of Internet and e-Business for AT&T Canada. Ron later became Director and CEO of Nextair Inc., a publicly-traded wireless software company which was acquired by a major Canadian technology company in early 2005. Ron is an Ivey HBA graduate, and taught the Creativity and Opportunity Recognition course at the HBA level this year.

Dave Simpson, another of member of Ivey’s Entrepreneurship Faculty Team, headed the HBA side of the NVP. Dave is a London-based financier who has operated a diverse range of businesses including restaurants, golf courses, aircraft leasing, oil field serves and retail. Dave is an MBA graduate from Ivey who is extremely supportive of the entrepreneurial lifestyle. He offers his support to HBA entrepreneurs and is extremely involved in the Family Business side of entrepreneurship.

Ransom Hawley, the 2008/09 HBAA President participated in the NVP this year with team’s venture, Campus Visits. “The New Venture Project has been an invaluable experience. Working with fellow entrepreneurial-minded students, brainstorming, and turning ideas into a reality has provided me with real life experience. The lessons I pulled from NVP are applicable to several areas of my work life, and I’d recommend the project to any student, entrepreneurial focused or not.” Ransom worked on Campus Visits (a service offered to upcoming high-school graduates looking to tour university campuses) with Justine Kilby, Danielle Marshall and Heather Payne.

For both HBA and MBA students, NVP was a fantastic opportunity to go through the process of starting their own business with the advice and coaching of experienced entrepreneurs along the way. Each year the NVP provides students with yet another opportunity to apply their business knowledge to the identification and development of a real commercial enterprise while earning a credit toward their degree. For more information on the NVP contact the Entrepreneurship Institute at Ivey.

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