NU Venture Hatchery
In February, President Pretty approved the Alden B. Dow Center for Creativity and Enterprise to open the NU Venture Hatchery, the first student business incubator at Northwood University.
Simply put, a business incubator can provide collegiate students both physical and virtual space for their own incorporated businesses to grow. Students must go through a rigorous application process and often have been winners of the Business Startup Pitch Competition or are DeVos Scholars at the University. Students who are permitted to become members of the incubator will be provided with working space, virtual portal space on the NU ABDCCE website, and other helpful resources like alumni Entrepreneurs in Residence to give them advice, coaching and assistance in advancing their student enterprises.
“The NU Venture Hatchery will first be piloted on the Michigan campus”, said Georgia Abbott, Director of the Alden B. Dow Center for Creativity & Enterprise. “Students are allowed to sell their products and services and use their university network, sometimes as their first customers. This accelerates the venture’s launch and the learning that comes from common, early failures in startup”. “We have every intention of providing student business incubation on the FL & TX campuses as we learn from this pilot.”
Regardless of major, all ADP, UG and MBA students can apply to be admitted to The NU Venture Hatchery. “Running an enterprise, no matter how small, provides our students with the experience of entrepreneurship like no other”, Abbott said.
Article written by: Shawn Mersino, Center Adminstrator, Alden B. Dow Center for Creativity & Enterprise