A new Career Services initiative will prepare eight entrepreneurial sophomores to launch their own businesses.
The Kehoe Family Initiative for Entrepreneurial Excellence is a five-semester fellowship during which students will develop their business ideas through a combination of coursework, interactive learning, networking, and mentorship, and working on various projects and assignments. Fellows receive $2,000 in scholarship per semester from the Kehoe family, totalling $10,000 over the course of the program.
Ken Koopmans, initiative director and director of Career Services, said the idea came from the high interest in entrepreneurship demonstrated in Career Services’ annual survey. The college saw this interest and the number of successful graduates who have started their own companies, and started an initiative to provide support to aspiring student entrepreneurs.
“The demand was evident, the purposes of promoting free enterprise and private ownership align well with the mission of the college, and the college has so many outstanding connections,” Koopmans said. “It made sense to bring all these pieces together and develop the initiative.”
“The Kehoe Family Initiative for Entrepreneurial Excellence was founded to develop the next generation of character-driven entrepreneurs and equip them with the skills and knowledge they need to launch a successful business in the 21st century,” Koopmans said.
Applications were open to sophomores in the fall. Applicants were required to submit a resume, cover letter, writing sample from a Hillsdale class, letter of recommendation from a faculty or staff member, and an essay proposing their business idea and describing why they would be a good fit for the fellowship. In the final stage of the application process, initiative directors interviewed top candidates.
“Our inaugural cohort has eight passionate and dedicated students: Caleb Greene, Alydia Ullman, Nicholas Cain, James Simpson, Mary Ruth Oster, Emily Land, Robert McClelland, and Kiley Hatch,” Koopmans said.
Hadiah Ritchey ’20, project manager at Career Services and initiative coordinator, said the students involved have a variety of interests.
“Some people came to the program already having a business they already started,” Ritchey said. “And then some people came with just kind of an idea of something they would love to do in the future.”
Sophomore Emily Land said she plans to open her own social media marketing agency specializing in social media management, content creation, and brand strategy.
“I decided to apply due to my lifelong gravitation towards entrepreneurial activity,” Land said. “I have started many small businesses throughout my life ranging from lemonade stands to a jewelry company. I love the atmosphere of freedom and hard work that surrounds the entrepreneurial sphere.”
Sophomore Mary Ruth Oster has enjoyed developing her plant therapy business idea.
“I am excited for the opportunity to gain a better understanding of business and leadership through the classes, lectures, and mentors the program offers,” Oster said.
Students returned to campus early from Christmas break for a three-day “LaunchPad Symposium” where they learned the fundamentals of starting a business and living a well-balanced life, according to Koopmans. By the end of their senior year, students will have to take Principles of Accounting I and Principles of Marketing I and participate in various interactive seminars on topics ranging from digital marketing to start-up capital. Students meet with the program director every other week during “Ideation Hours,” discussing their business and progress in the fellowship.
Each semester, fellows will also be required to speak with 10 industry professionals, so by graduation, they will have met 50 successful entrepreneurs. Fellows will be matched with a specific mentor senior year to help them prepare for their final business pitch. Between their junior and senior years, the fellows will complete an apprenticeship with an experienced entrepreneur, funded by the initiative.
“The goal for the fellows is that they each will have a fully-formed business idea and plan that is ready to launch as soon as they graduate or sooner,” Koopmans said. “They will also have gained the skills they need to manage and grow their business as time goes on. Fellows will also walk away from the program knowing what it is to lead a well-balanced life and have the tools they need to do so.”
The fellows will also attend Executive Speaker Events, which will usually be open to the entire campus body. The initiative has hosted one speaker so far this semester and plans to host two more.
“We are so thankful to Mr. Kevin Kehoe and the entire Kehoe family,” Koopmans said. “Mr. Kehoe is an experienced entrepreneur himself, and we’re grateful that he is investing in the next generation of entrepreneurs. Without his generosity and support, The Kehoe Family Initiative for Entrepreneurial Excellence would not be what it is today. Other generous donors have contributed, as well.”
Applications will open in the fall of 2022 to sophomores of all majors. Koopmans said the initiative leadership looks for students who are “passionate about entrepreneurship, dedicated to the Hillsdale mission, able to problem-solve and persevere through challenges, and who have a desire to excel in personal growth and leadership.”
Ritchey said a small percentage of entrepreneurs are business majors, so the initiative will provide students with extracurricular support. Career Services will continue offering entrepreneurship resources to all of campus as the program continues to grow.
“This fellowship will act as an incubator for the businesses our fellows plan to start,” Koopmans said. “Everything they learn and work on in the fellowship will help them develop and launch their business upon graduation.”
