Any budding entrepreneur who understands the power of this combination should be camping on the university steps begging to be admitted.
This week’s announcement of the acquisition of Phurnace Software by BMC Software of Houston is one more evidence that one of the richest environments for entrepreneurship is in the university classroom. The news reminded me of the comment by Piryx CEO Tom Serres that “being a business student and building a company at the same time is probably one of the smartest things any young entrepreneur can do.”
Phurnace was started by Texas MBA student Daniel Nelson (photo) as a class project along with Robert Reeves, a UT economics major.
They followed a proven path I’ve highlighted before:
1) An idea spurred by a classroom project,
2) embraced by students who network across disciplines at the university,
3) refined as a viable business model throught the rigorous Moot Corp competition (which they won), and
3) nurtured within the Austin Technology Incubator at UT Austin.
Any budding entrepreneur who understands the power of this combination should be camping on the university steps begging to be admitted.* I’m sorry for this lapse into blatant promotion of the institution, because that isn’t what my blog is about. But I honestly wish more entrepreneurs understood what is going on here.
*Camping on the university steps is not recommended. Begging is not an accepted (or effective) university application process.