Johns Hopkins University Transforms Itself into an Entrepreneurial Powerhouse
The Challenge: Johns Hopkins, a leader in research and patents, wasn't graduating many entrepreneurs. Local investor Christy Wyskiel saw the potential and pitched a plan to create a supportive ecosystem.
The Solution: Johns Hopkins Technology Ventures (JHTV) was formed to bridge the gap. They secured funding, built dedicated spaces, and fostered connections with investors and entrepreneurs.
A Student Hub Emerges: Recognizing the student need, FastForward U (now the Pava Center) launched in 2017. It offers a variety of programs like accelerators, a pre-accelerator, and even a summer incubator.
The Impact:
- Funding: Students can access grants, fellowships, and competitions for financial support.
- Network: A robust network of alumni, mentors, VCs, and industry experts is available.
- Focus: The center caters to students at all stages, "from the curious to the committed."
- Impactful Ventures: Pava Center supports companies tackling real-world problems, not just "the seventh dog-walking app."
Success Stories:
- Tunnel: Founded by Dave Thomas, a Pava Center alumnus, the company develops collaboration software and has raised $850,000.
- CurveAssure: This medical technology startup co-founded by Evan Haas received the President's Venture Fellowship and leveraged Hopkins' scientific expertise.
- Kubanda Cryotherapy: Bailey Surtees, a Hopkins alum, used JHTV resources to build her company focused on treating tumors in animals.
A Thriving Ecosystem: Alumni like Surtees stay connected, mentoring new students and hiring interns. The Pava Center is now a bustling hub for student entrepreneurs.
Lessons Learned:
- Investment is Key: Funding, space, and resources are crucial for fostering entrepreneurship.
- Student-Centric Approach: Tailored programs and support cater to students at various stages.
- Network Effect: Building a strong alumni and industry network provides valuable connections.
Johns Hopkins' transformation serves as a model for universities aiming to cultivate a thriving entrepreneurial spirit among their students.