Author: allisonbohanan (page 1 of 5)

Entrepreneurship at McCombs– Texas Venture Labs

The Texas MBA Program at the McCombs School of Business is located right in the middle of America’s most innovative city.  As a top entrepreneurial MBA program, Texas MBA can offer many unique resources to prepare students for new business ventures. One of the best resources for aspiring entrepreneurs at McCombs is Texas Venture Labs.

 Jon Brumley Texas Venture Labs (TVL) is an initiative to accelerate startups in taking their innovations to market and help entrepreneurs become leaders in business. As a Texas MBA, you’ll have access to the many resources that TVL has to offer! From pairing up with local startups for a semester-long consulting project, to having the opportunity to compete in the annual Investment Competition, TVL will help you build the skills you need to turn your idea into a success story.

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Texas MBA Career Treks

Each year, the Texas MBA Career Management team leads Treks to various cities to visit the main offices of different companies, giving Texas Full-Time MBA students a great opportunity to learn more about their industry of interest and allowing them to become more familiar with the culture at these companies. Visits typically consist of presentations, Q&A sessions, and numerous opportunities for networking with alumni and executive management.

One of the biggest trends our Employer Relations and Career Management teams have seen has been an enormous increase in student career interest in the West Coast.

In 2010, 9% of Texas MBA graduates landed jobs on the West Coast — that percentage has nearly doubled with the class of 2016! Interest in technology companies has exploded, making it a large area of focus for our annual Treks.

Complementing those two trends, West Coast tech companies have been opening offices and/or growing their corporate presence in Austin i.e., Facebook, Google, Apple, Cisco Systems, eBay, PayPal, VMware and Electronic Arts just to name a few. We continue to build our relationships with these firms, as well as seeking new opportunities.

We have also seen every facet of student interest in entrepreneurship increase, from coming into the program already running a firm, or founding a company in business school, to working at a startup or fast growing company post-graduation.

In response, the Texas MBA Program has created many unique opportunities for MBA students to network with and connect to the startup community. We now host a biannual McCombs Entrepreneurship Night, which showcases startups founded by McCombs MBA students and/or alumni.

That event is held in conjunction with Austin Startup Week in the fall and during SXSW Interactive in the spring. The contacts made during these events are invited to our Entrepreneur Society (ES) events during the school year, such as the Pitch Party in the Fall and ES Connex in the spring, a networking night for local startups looking to hire interns or full-time candidates.

2016-2017 Career Treks 

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Texas MBA students at the Boston Consulting Group offices in Dallas, TX

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Texas MBA students at the Chevron offices in Houston, TX

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Texas MBA students at the A.T. Kearney office in Dallas, TX

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Texas MBA students at the Bain & Company office in Dallas, TX

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Texas MBA students at the Bank of America Merrill Lynch office in New York City

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Texas MBA students at AT&T headquarters in Dallas, TX

 

Navigating Change – A Timely Topic for the Society of Women Engineers

From Sharon Barrett, Director of Working Professional & Executive MBA Admissions

I’m so grateful for this aspect of my job. This week, I had the distinct pleasure of presenting to the Austin Chapter of the Society of Women Engineers on the topic of Navigating Change, one day after this country’s historic election results. Karen Landolt, one of our MBA+ Leadership Program Coaches, engaged this group of 40 smart, professional women in exercises and discussion on this timely topic at Dell’s Parmer Lane campus. Dell and EMC are in the process merging companies, philosophies and cultures, and being aware of something as simple as the difference between Boston, where EMC is based, and Austin’s Dell is so important in forming a more perfect union.

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Women in attendance represented a variety of engineering disciplines from a number of well-known companies in the Austin area, and they left with some practical tools to help navigate change in their organizations, their careers and in life. They also had a chance to network with each other and talk to Dell’s career team, as well as learn more about how an MBA can help advance careers not only through academics, but also through co-curricular resources such as the opportunity to receive 16 hours of one-on-one professional coaching from a prudently procured and prolific list of professionals. MBA+ coaches come with expertise in areas such as communication, executive career paths, leadership presence, professional image, improvisation (thinking on your feet), project management, media presence, creativity and innovation, emotional intelligence, and even accent modification among other skills.

If you’d like for someone from the Texas MBA to speak at your organization whether it’s a public or private company, or a professional or special interest group located in Houston, Dallas or Austin, please contact me at Sharon.Barrett@mccombs.utexas.edu.

International Student Spotlight

Did you know that 28 percent of the Texas Full-Time MBA Class of 2017 are from countries outside of the U.S.? Texas MBAs come from all over the world, and this week we’re highlighting some of our international students who made the long trip to McCombs. Check out what they have to say about Austin, McCombs, and the advice they’d like to share with future international applicants.

 

img-20161014-wa0012Omar Garza, MBA ’17

Where are you from originally? I’m from Chihuahua, a city in northern Mexico that is 230 miles south from El Paso, Texas.

Why did you choose the Texas MBA Program? I chose McCombs because of its very strong Entrepreneurship program as well as the vibrant startup ecosystem at UT Austin and in the city. Austin is one of the fastest growing cities in America and its the perfect place to start a new business.

Any advice for others from Mexico thinking about attending McCombs? My advice to them would be to reach out to current students and alumni.  I’m always impressed by how open and friendly everybody is here and how far people are willing to go to help someone out.

 

dsc_0027-copy Tulio Soria, MBA ’17

Where are you from originally? I am from Brazil. I used to say that I am from São Paulo state. I was born and raised in the countryside of the state, in a small city called Pederneiras with a population of about forty thousand.

Why did you choose the Texas MBA Program? I knew that I needed to be in a tech hub surrounded by brilliant visionaries. The answer for me was the Texas MBA in Austin. The Texas MBA offers challenging courses in information management and analytics, which are essential for a digital leader. Austin has a young, educated population, with a great startup community and fair VC presence, along with a burgeoning creative scene, which is the perfect environment for tech.

Any advice for others from Brazil thinking about attending McCombs? It is an amazing experience to challenge yourself to immerse yourself in a new culture in such vibrant city and program.  My advice for those going through the application process is to visit Austin, visit the school and talk with our alumni and current students.

 

byhYeony Bae, MBA ’17

Where are you from originally? I am from Changwon, a beautiful medium-sized city in southeastern coast of Korea.

Why did you choose the Texas MBA Program? First, I really liked the people and culture. I enjoyed talking to the Admissions Committee and alumni during info sessions and in my interview. I am reconfirming my decision every single day while working with cool, bright classmates and faculty in  a great collaborative culture. Second, the small class size in a huge university setting was very attractive. I wanted to build a strong, personal network in the MBA program and I thought the small class size at McCombs would help me do so. Third, I really wanted to get into the tech industry after completing my MBA and McCombs has a strong network in this industry. Lastly, the location in Austin mattered a lot. I wanted to go through this life-changing experience in a place where I can truly enjoy it.

Any advice for others from South Korea thinking about attending McCombs? You can really be anyone you wish to be in the entrepreneurial and collaborative environment at McCombs. Your classmates, alumni, and faculty will give you full support and help you achieve your dreams – that is the Texas MBA culture. Austin is an amazing place for you to spend two years of precious time and beyond. My time with the Texas MBA and in Austin literally changed my life in many ways. I hope many other Korean candidates come and share my experience.

 

lisa-mariaLisa Maria, MBA ’17

City of Origin: My hometown is in Bekasi, West Java, 20 miles east of Indonesia’s capital city Jakarta, but I spent most of my time from elementary school to high school in Jakarta.

Why did you choose the Texas MBA Program?  I am a double Longhorn and graduated from the Cockrell School of Engineering for my undergraduate degree. I had an amazing experience and knew I wanted to come back for my master’s. Thanks to the UT network, I had the chance to connect with Texas MBA alumni and heard great things about the program, solidifying my decision to choose McCombs. McCombs is very student-run — being in the program has given me opportunities to be active and assume leadership positions in several amazing organizations. I have been in the technology industry my entire career and plan to go back there after graduation; McCombs’ location in the major tech hub that is Austin, TX has provided me a very valuable network in that industry.

Any advice for others from Indonesia thinking about attending McCombs? Austin has similarities with Indonesia in a lot of ways. Indonesian people are known to be very friendly, so are Texans with their Southern hospitality. Austin’s economy is growing rapidly, so is Indonesia’s. And the food scene… Austin has such diverse food options like Indonesia does, although I must admit nothing beats Indonesian food.

luciaLucia Galvez, MBA ’17

Where are you from originally? Lima, Peru

Why did you choose the Texas MBA Program? I wanted a top MBA program with a strong Management curriculum complemented with hands-on experiences, as well as a collaborative environment that fits my personality. I had the privilege of visiting McCombs before applying and people made me feel super comfortable!

Any advice for others from Peru thinking about attending McCombs? McCombs has a lot of opportunities that I discovered after I enrolled in the Texas MBA Program and I knew I made the right decision. If possible, come to Austin and interact with the McCombs community to make sure it is the right fit for you!

To learn more about the Texas MBA Program, admissions events, and application information, please visit the Texas MBA website.

How an MBA Can Help Your Startup Succeed

From Harlan T. Beverly, PhD, Texas Evening MBA ’04

Every year, thousands of students flock to MBA programs nationwide to learn the craft of business. In recent years, many of those students  have come with a gleam in their eye, that of launching and succeeding with their own startup.  At The University of Texas at Austin, MBA applicants can earn a scholarship for their idea, assuming their idea is strong enough. One of the key questions about entrepreneurial education, though, is this: what does it take to succeed at a startup? And more to the point, is that something you can learn in an MBA program?

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2016 TVL Scholarship winners Josh Berrington (left) and William Wilder (right)

Researchers in entrepreneurship have typically focused on the attributes of the founding team as key predictors of success.  While it is obvious that certain characteristics like risk tolerance, persistence, and charisma could be helpful in getting an entrepreneur started, there is still much debate about what it really takes to have a successful startup.

In 2004, I was one of those MBA students with that startup fire in my eye.  Now, a dozen years later and with three successful startups under my belt, I believe that there are many critical things that a student can learn in an MBA program to help better their odds of success.  Here are three things I learned as part of my MBA that I have leaned on to beat the steep odds of startup success (less than 1 in 10).

First and foremost: Define success before you begin. 

Not every startup idea is destined for an IPO or billion-dollar exit.  An MBA helped me to learn how to assess the business potential of a startup idea and set realistic goals for what success looks like.  All too often, startups fizzle out because they reach too high or even achieve limited success…but fail to exit at the right time.

Second: Learn, learn, learn. 

No matter what it’s called – “market validation” or “lean startup” or listening to customers – learning, and adapting is essential to success.  My MBA helped me understand both what I needed to learn (pricing for example), and how I could learn what I needed from real customers quickly.

Finally: Success is never achieved in a vacuum.

My MBA helped me to understand the importance of networking. Hiring and firing are essential leadership skills as a company grows, and an MBA not only helps you understand the leadership principles, but also helps you develop team-based skills to work well with others. For me, it was at UT Austin that I met the co-founders of my first company, as well as many future business partners.

Clearly there are many things to learn and skills to develop as part of an MBA. Can they help an entrepreneur be successful?  Absolutely.  The University of Texas’ Jon Brumley Texas Venture Labs has proven capable of developing MBA students into successful startup founders. The new Texas Venture Labs MBA Scholarship is now open and accepting qualified applicants with world-changing startup ideas. Learn more about the application requirements and submit your application today!

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