Ryan’s incubator has already begun supporting underage innovation and other entrepreneurship-related activities across campus, she said.
How is this incubator program different from your past work at SEG and others?
The Ryan Incubator is a broad range of entrepreneurial initiatives involving students and alumni of local and global entrepreneurial initiatives aimed at creating economic and social value. The big difference, of course, is that the incubator will be more student-centric.
Interested in collaborating with SEG?
I am a big believer in the ecosystem approach that we developed at SEG and would like to incorporate some of what we learn and develop there into our campus environment. At this point, we assume that some of the work will be student-led and some will be student-assisted. Of course, we hope Ryan Incubator will work closely with his SEG and many of Rhode Island’s leading business support organizations.
But we’re also starting to research other successful university-based entrepreneurial initiatives, and plan to learn from what’s working elsewhere. [Ramirez also helped built a social enterprise initiative at the University of Michigan Business School]
Ever had an incubator on your PC?
Although not a formal incubator program, students participate in entrepreneurship courses and entrepreneurial activities. I have been teaching Social Entrepreneurship at his PC for nearly a decade and have seen first hand the growth of entrepreneurship and talent on campus. PC students are also valued for their entrepreneurial initiative. For example, in 2021 the PC team won his 1st place in his BIG EAST Startup Challenge for his venture “UMeal”. [an annual competition where teams pitch product ideas to a panel of entrepreneurs, venture capitalists, and BIG EAST alumni].
What new product, service, or organization would you like your students to present?
We expect a wide range of ideas from our students and are open to innovation of all kinds. That said, we already know there are areas of interest in including environmental and sustainability issues. science and medical technology; social entrepreneurship and community engagement; family business; non-profit entrepreneurship, especially those that support the College’s Catholic and Dominican identities.
How is this incubator space tied to the Ryan family, who donated $2 million to this program?
Ryan majored in Political Science and is a successful healthcare technology business owner. [Ryan was chairman and CEO of CareCore National in South Carolina, which is a company he co-founded to provide benefit management services to health care providers.].
He is an advocate for the values of a liberal arts education, and his non-business degree PC education has taught him basic skills such as critical thinking, effective communication, a love of learning, a vast worldview, and intellectual knowledge. I believed that it would give me the necessary skills and mindset. The curiosity you needed to succeed as an entrepreneur. [Providence College’s] The Business Innovation Minor and Incubator is specifically designed to support students pursuing a liberal arts or other non-business degree but wanting to learn the fundamentals of business and entrepreneurship.
How does this program help non-business students?
The Business and Innovation minor is designed specifically for fields outside of business [students]The theory is that students pursuing a business major will be exposed enough to business fundamentals that a minor is unnecessary.
We hope that the incubator’s programming and physical space will provide an opportunity for “clashes” between business faculties and students, as well as other non-business faculties and students interested in entrepreneurship. The Ryan Incubator will also act as a ‘clearinghouse’ for all activities related to PC entrepreneurship.
Can you give an example?
Chemistry students interested in developing test strips for the detection of nitrogen and phosphate in stream effluents entering Narragansett Bay discovered fertilizer-induced “dead” in commercially important mollusk habitats. Imagine that you are working with a biology student studying “The Zone”. This student can use the incubator’s resources to explore ways to commercialize technology, obtain patents, perform market analysis, find grants, deal with state regulators, and more. The Ryan Incubator and staff foster connections between science students and faculty with technical expertise, and business students and faculty, while creating much-needed community connections.
What are the benefits of participating in this incubator program for non-business students? What skills can they develop in careers that are not business-centric?
In my view, the most successful entrepreneurial ventures have diverse teams who bring different perspectives, strengths, and skills to the venture. Innovative ideas are often developed in response to specific industry needs. Our vision is that this incubator will break down traditional silos and bring together student teams from different schools across campus to collaborate with community leaders, alumni and others to find the most innovative solutions to solve complex challenges. to come up with effective innovations in
Successful business ventures require individuals with business skills, but not all innovation comes from business schools.
The Boston Globe’s weekly Ocean State Innovators column features Q&A with Rhode Island innovators who are launching new businesses and nonprofits, conducting groundbreaking research, and reshaping the state’s economy. . Send your tips and suggestions to reporter Alexa Gagosz: alexa.gagosz@globe.com.
Alexa Gagosz can be reached at alexa.gagosz@globe.com. follow her on her twitter @alexagagosz and on Instagram @AlexaGagosz.
