Financial volunteer gives engineers advice
A banker explained resources to students looking to patent their ideas.
Published Nov. 14, 2006
In a room full of engineering students, a projector malfunction is no problem, or at least it wasn't during an Engineering Entrepreneurs meeting last Tuesday.
The organization invited Centennial Investors volunteer and banker Andrew Beverly to speak about Angel Investing.
Beverly spoke to about 40 students and faculty members in the Engineering Building West Auditorium.
The group provided free pizza and drinks.
Angels, members of Angel Investing, are usually retired business people with large amounts of money.
The group is looking to expand its membership because some students are seeking patents on their projects, and the company wants to help steer them in the right direction, Beverly said.
For aspiring investors just entering the market, Beverly described Angel Investing as a mentoring and coaching group focused on high return rates.
"Understanding the size of the market can be a challenge," Beverly said. "Angel Investing provides the ability to discuss ideas with other investors, share the load of workers and to spread the risk."
Tara Daniels, Entrepreneurs lecture series vice president, said engineering is about
innovation.
"As an organization we want to educate engineers on the business opportunities that are out there," Daniels said.
Todd Sullivan, Entrepreneurs lecture series president, said the group believes engineers are the greatest source of new ideas and technologies that can be commercialized.
"Through the lecture series we are presenting the activities involved in starting a business with an emphasis in high-tech, engineering-oriented products and services," Sullivan said. "Many engineers have a great technology that they have developed, and they are interested in commercializing the technology. Unfortunately, most of these engineers are too narrowly focused on their work, and they do not
spend enough time on
the business aspects of commercialization."
Senior Ray Troy said he came to the meeting to meet people.
"Going into business with a specialized group does have its benefits, but if losing $2,000 is no big deal to you, then going into investing on an individual basis is fine," Troy said.
Founded earlier this year, Centennial Investors actively seeks investing opportunities through its ties with the Columbia Chamber of Commerce and 39 members.
"As an outsider, what I have noticed is that the university has a new attitude and now has a mission of commercialization for its technology," Beverly said.
Beverly listed the Missouri Small Business and Technology Development Centers as one of the many resources for students with business thoughts in mind.
"We exist in part to help you get from where you are now to where Andrew is," Jim Gann, a Small Business and Technology Development Centers counselor, said. "My job is to help educate you on the business side of what you're proposing to do."
