Park, organization offer tools for success
5:01 Entrepreneur Society connects students and businesses
For aspiring entrepreneurs, resources necessary for success are available at the NDSU Research and Technology Park.
In particular, the 5:01 Entrepreneur Society is directly affiliated with the park and provides students with the skills they may need in their entrepreneurial careers.
Tony Grindberg, executive director of the Research and Technology Park, said the organization works to involve students in networking events with researchers and business people.
The name “5:01” refers to the time the meetings start. Grindberg said that name was chosen because most people think of the normal work day lasting from 9 to 5 p.m., so holding the meetings after that time could accommodate students who take classes during the day but are free in the evenings.
The meetings are scheduled months apart and often have a program featuring a sponsor, Grindberg said. The program is designed to provide students with an opportunity to share and learn with others interested in the same ideas.
Seth Froyum, a mechanical engineering sophomore, has been involved with the 5:01 Entrepreneur Society since the fall of 2004.
“ It has benefited me by giving me a chance to experience things that I wasn’t at all familiar with and to meet professionals outside of NDSU,” Froyum said. “It gives students a great opportunity to go and hear and talk to real-world business owners and founders that share their experiences with peers and students alike.”
Froyum is one of 10 students in the organization’s scholarship program.
Kaylee DeGraff, an animal science/pre-vet med junior, also received a scholarship that involved her in the organization.
“ Being involved with the 5:01 society has been a very cool experience,” DeGraff said. “ I have been exposed to topics and issues that I would never have dealt with in my major.”
The area businesses that sponsor the meetings often bring in a speaker to discuss topics pertinent to the business world, such as cash-flow management.
“ I think that the 5:01 society is a unique idea, in that you are able to network with entrepreneurs and are exposed to topics and companies that you may not have an everyday chance to hear about,” DeGraff said. “I think it gives students like me a chance to see what’s beyond the classroom and it opens doors to new ideas.”
Grindberg said the organization will also be involved with the park’s latest project, the incubator building, which is scheduled to break ground in about six weeks.
The idea for the project surfaced five years ago with a vision from President Joseph Chapman.
“ The incubator building was seen as a key initiative for creating an environment on campus for internships and job opportunities for students,” Grindberg said.
Grindberg said the building will be located north of Alien Technology on 19th Avenue, providing a “premier visible location for the center of NDSU technology.”
The center will provide entrepreneurial services such as access to venture capital, supply services, business networking and technical assistance.
A unique opportunity for students that Grindberg pointed out is the availability of a new internship scheduled to begin February.
“ This is a great time to add the internship,” Grindberg said. “It is a good opportunity for someone to learn how to handle the details of constructing a building.”
The deadline for submitting applications for the internship is Wednesday, Jan. 25.
Students interested in joining the 5:01 Entrepreneur Society are encouraged to register in a database online at www.ndsuresearchpark.
com/info/events_registration.
epl.
The organization will hold its next meeting Feb. 7 at the Research and Technology Park.
The event is sponsored by Xcel Energy.