CUEED: HELPING MINORITY BUSINESSES
Program officially launches
Kejal Vyas
Issue date: 11/3/09 Section: News
The Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers Business School is doing its best to make Newark and other urban environments better places to live.
On October 27, a discussio n about the CUEED was held in the Dana Room from 11:30-1 pm.
"Our goal is to create wealth in the urban community," said Dr. dt ogilvie, Founding Director of CUEED.
The center selects small and medium sized minority-owned businesses around Newark and provides, business training, and counseling to businesses that pass their screening process.
In its first year this year, CUEED has already assisted three businesses and plans to add a fourth business shortly.
Research on entrepreneurship is also a key aspect to the success of CUEED. They are studying entrepreneurs who have already opened their businesses as well as nascent entrepreneurs (entrepreneurs who are in the process of opening a business).
"We have access to entrepreneurs so we can collect data through interviews," ogilvie said.
Entrepreneurship is "creating new companies," according to Dr. Jeffrey A. Robinson, assistant director of CUEED. Entrepreneurship carries with it different options to make money.
The center has chosen to focus on five areas of research.
Urban entrepreneurship is creating jobs, developing businesses, and community entrepreneurship.
More people are employed by small and medium businesses, according to ogilvie, so developing local businesses will create jobs in Newark.
The "challenge for entrepreneurship, in my mind," Robinson said during his presentation, "is understanding the urban environment."
Robinson argues that understanding the social context of the local community is essential when starting up a business. The social context, in addition to understanding the people, includes understanding the laws and politics of the community.
The second area of research is technology entrepreneurship. These studies focus on the use of technology, like green businesses, as a way to make money.
Social entrepreneurship employs strategies such as social problem solving to make the urban environment a better place.
The research center also studies international entrepreneurship. There are urban areas across the world and the center is studying them as well, particularly the role of entrepreneurship in developing economies.
An aspect of all four of these; economic development is also being studied.
In addition to CUEED, Rutgers Business School has made entrepreneurship an area of study in their MBA program. They plan to introduce entrepreneurship as an undergraduate discipline soon.
"It takes more than education to have a successful business," ogilvie said. Entrepreneurs "have to be creative."
CUEED is trying to become the global leader in studying entrepreneurship.
"It's about putting people into business," Ogilvie said, "and that's what we're trying to do."
On October 27, a discussio n about the CUEED was held in the Dana Room from 11:30-1 pm.
"Our goal is to create wealth in the urban community," said Dr. dt ogilvie, Founding Director of CUEED.
The center selects small and medium sized minority-owned businesses around Newark and provides, business training, and counseling to businesses that pass their screening process.
In its first year this year, CUEED has already assisted three businesses and plans to add a fourth business shortly.
Research on entrepreneurship is also a key aspect to the success of CUEED. They are studying entrepreneurs who have already opened their businesses as well as nascent entrepreneurs (entrepreneurs who are in the process of opening a business).
"We have access to entrepreneurs so we can collect data through interviews," ogilvie said.
Entrepreneurship is "creating new companies," according to Dr. Jeffrey A. Robinson, assistant director of CUEED. Entrepreneurship carries with it different options to make money.
The center has chosen to focus on five areas of research.
Urban entrepreneurship is creating jobs, developing businesses, and community entrepreneurship.
More people are employed by small and medium businesses, according to ogilvie, so developing local businesses will create jobs in Newark.
The "challenge for entrepreneurship, in my mind," Robinson said during his presentation, "is understanding the urban environment."
Robinson argues that understanding the social context of the local community is essential when starting up a business. The social context, in addition to understanding the people, includes understanding the laws and politics of the community.
The second area of research is technology entrepreneurship. These studies focus on the use of technology, like green businesses, as a way to make money.
Social entrepreneurship employs strategies such as social problem solving to make the urban environment a better place.
The research center also studies international entrepreneurship. There are urban areas across the world and the center is studying them as well, particularly the role of entrepreneurship in developing economies.
An aspect of all four of these; economic development is also being studied.
In addition to CUEED, Rutgers Business School has made entrepreneurship an area of study in their MBA program. They plan to introduce entrepreneurship as an undergraduate discipline soon.
"It takes more than education to have a successful business," ogilvie said. Entrepreneurs "have to be creative."
CUEED is trying to become the global leader in studying entrepreneurship.
"It's about putting people into business," Ogilvie said, "and that's what we're trying to do."
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