Just before graduating from the University of Michigan, Calvin Schemanski began his start-up.
With two classmates, he got free office space on campus and $7,500 in funding from the university’s student startup accelerator, TechArb.
The project, a restaurant recommendation app called MyFab5 using a “favorites” formula, is now preparing a national launch.
The project is among dozens at Michigan and thousands across the United States getting help from “incubators” at US colleges and universities, often with a dream of launching the new Facebook or Google.
“There’s a real spark of entrepreneurship on campus,” said Schemanski, who graduated in 2012 with a business degree.
“There are a lot of entrepreneur clubs and programs and events every couple of weeks,” he told AFP.
The 23-year-old, who had begun his own pedicab service as a freshman, acknowledged that “it’s definitely a sacrifice” to work nights and weekends on these projects while other students attend parties and football games.
But he said “there is a good support network” of professors and mentors to help students and new graduates get their startups going.
Hundreds of US colleges and universities have created incubators, aiming to provide a different kind of educational experience, and a chance for a successful company.
Read more at: Phys.org