entrepreneur

You may have never heard of Joseph Schumpeter, an eccentric Austrian economist who taught at Harvard in the 1930s and '40s. But to those of us who study the strategic and financial dynamics of innovation, he is far more influential than his peers John Maynard Keynes or Milton Friedman. Schumpeter is the guy who made the entrepreneur the engine of growth for an economy, and several Nobel Laureates since have suggested that he was right on most counts.

Lowe Campbell Ewald video. / YouTube.

The South by Southwest festival is happening right now in Austin, Texas. It's where the cutting edge of music, technology and new thinking all come together.

And that's where our next guest has been busy pitching Detroit to all those creative entrepreneurs. Earlier this week, he hosted a session called "We're Moving to Detroit, and So Should You."

Iain Lanivich is the digital creative director of Lowe Campbell Ewald, and he joins us from Austin.

Listen to the full interview above.

You’ve heard it before, folks, time and time again. In today's economy, the more education one attains after high school, the better, right? But what if some students might be better served in other settings, academic or otherwise? Is it time for Michigan to develop some credible alternatives for high school grads? We’ll find out more on today’s show.

Then, we spoke to Daniel Howes about his reporting on Detroit's historic bankruptcy. 

And, Fifth Third Ballpark wants to expand its concessions menu. We took a look at some of the food options fans can vote for, including deep-fried lasagna and a bacon-and-chocolate taco.

Also, how can we keep young entrepreneurs fresh out of college in Michigan? The Michigan Collegiate Innovation Prize awards them for launching their start-ups in state.

And, a new fee system for hunting and fishing goes into effect soon, and it’s the first significant raise in over 15 years. We spoke with Ed Golder of the Michigan Department of Natural Resources about what’s behind this increase.

First on the show, Detroit Mayor Michael Duggan delivered his first State of the City speech last night before a packed, invitation-only crowd. And his message was clear: We are going to change what it means to live in Detroit.

Even among those who have a "wait-and-see" attitude, the mayor's speech is being praised for what many believe is a refreshing attention to detail and the sense that a team is at work.

Detroit Free Press columnist Nancy Kaffer joined us today.

http://bec.umich.edu/

How do we keep our smart, energetic, bright college graduates from packing up and leaving Michigan?

One good way is by helping those with that entrepreneurial spirit to launch their start-ups in Michigan.

That's the idea behind a contest called the Michigan Collegiate Innovation Prize.

More than 81 teams from more than 16 colleges and universities around the state applied to be a part of the contest. At stake? More than $100,000 in prizes and intensive start-up training.

Amy Klinke with the U of M Center for Entrepreneurship in the College of Engineering is the contest director. Dr. Mark Keil is a pathology resident at the U of M Medical School, and he is a member of one of the winning teams. They both joined us today to discuss the experience.

Listen to the full interview above.

Lindsey Smith / Michigan Radio

Three Michigan congressmen met with entrepreneurs in Grand Rapids for “Startup America Day” Thursday. It’s a chance for entrepreneurs to tell lawmakers how they can better support startup companies.

Congressman Gary Peters (D-Detroit) co-chairs the House Caucus on Innovation and Entrepreneurship.

“We’ve got to make sure that we’re creating an environment that entrepreneurs with a good idea have an opportunity to take that idea, capitalize on it and run as long and as hard as they can with it,” Peters said.

gvsu.edu

What's the state of entrepreneurship in West Michigan?

That's the question tackled in a new report from Grand Valley State University's Seidman College of Business. It finds that in just four years, there's been a big change in the way people think about being entrepreneurs.

We wanted to take a closer look at that changing mindset and find out what it means not only for West Michigan, but for the state.

Paul Iseley is chairman of the economics department at Grand Valley State's Seidman College of Business. He joined us today from GVSU.

Listen to the full interview above.

Steve Carmody/Michigan Radio

A fledgling bicycle share company hopes to get rolling in Lansing in August.

A group of college students have founded a company that will provide bikes for temporary rentals.

The idea would be to set up bike rental stations at bus stops and other commuting locations in Lansing to give people an option for the next short leg of their journey.

LinkedIn

As Father's Day is just around the corner, are you thinking about what to get that special man in your life?

Well, ask virtually any wife and chances are she'll tell you that when the man of the house steps outside his designated "manly chores" and does something that would be considered to be in her domain, that man wants praise and plenty of it.

There's something to this: a Pew Research Center survey finds, of the predictors for a successful marriage, sharing household chores is Number Three on the list, just behind faithfulness and a happy sexual relationship.

All of this inspired a Waterford man to put on his "entrepreneur's hat" and come up with a new business: Man Medals, a witty but pointed way for her to dish out praise to him, and for him to take a bow for helping out.

Jim O'Brien is the founder of the Man Medals, and he joined us today in the studio.

Listen to the full interview above.

Close your eyes for a moment and think about what America looked like, say, in 1962, the furniture, the architecture, the cars. We explore the huge role Michigan had in mid-20th century design.

And, before National Fudge Day--yes there is such a thing--we take a trip to Mackinac Island, which has a pretty legitimate claim as the modern day Capital of Fudge.

And, we interviewed an entrepreneur from Waterford who has developed a unique way for women to show appreciation for the men in their lives.

Also, we took a look at the recent Pew research report.

First on the show, we turned to Detroit News Columnist Daniel Howes for our weekly Thursday check-in.

The theme for today's conversation seems to be: the Day of Reckoning is at hand for Detroit.

Photo courtesy of the University of Michigan

Michigan’s three biggest universities are producing young entrepreneurs twice as fast as the national average.

That’s according to a report by East Lansing-based Anderson Economic Group released today at a conference of business leaders and politicians on Mackinac Island.

Debbie Dingell is chair of the Wayne State University Board of Governors.

“What’s clear is that we in Michigan have young people with ideas, and we’re giving them a university system that’s giving them the tools that they need to actually go out and start that business,” said Debbie Dingell, chair of the Wayne State University Board of Governors.

The report says almost half of the new businesses started by college grads have been started or acquired in Michigan.

University officials say they’ve revamped their curriculum in recent years to encourage entrepreneurship among students.

Steve Carmody/Michigan Radio

Small Flint entrepreneurs are getting a boost from a new micro-lending program.

The group, KIVA.org, uses its website to link small business owners with individuals willing to loan them a small amount of money to get their business started.

Elizabeth Garlow is with Michigan Corps.   She says the future success of the KIVA Flint program depends on local people getting involved.

“It really will depend on how quickly the community rallies around this initiative…and takes action to go and nominate an entrepreneur and lend to them,” says Garlow.

Lindsey Smith / Michigan Radio

A venture capital fund backed by the DeVos family has invested $2.3 million dollars in start-up companies in the past year. The money went to 106 different ideas or projects.

The fund is called Start Garden. It was created nearly a year ago by Amway co-founder Richard DeVos’ grandson Rick DeVos, who’s also an entrepreneur (and founder of ArtPrize). He gave an update on the fund this morning.

This photo has been making the rounds on Facebook.

The photo was pushed out on Ann Arbor SPARK's Facebook page - a group dedicated to building business expansion in the area.

Just two years ago, Blank published an article about the venture capital climate in Ann Arbor.

In a post he wrote in 2011, "What's Missing For Entrepreneurs In Ann Arbor, Mich.," he described the climate as the sound of 'one hand clapping.'

He felt there was plenty of talent, but money and a risk-taking culture were missing in the city (below he mentions VCs - 'venture capitalists').

Lindsey Smith / Michigan Radio

A 13-year-old entrepreneur from Holland finally opened what’s become a controversial hot dog stand Thursday after several weeks of going through red tape.

Nathan Duszynski wanted to make some money. So he bought a hot dog cart and set it up in downtown Holland. But he didn’t realize the cart it went against zoning laws that restrict where and when food vendors can operate.

“I didn’t think the hot dog cart would be such a big deal,” Duszynski said.

Holland city officials shut the cart down.

Lindsey Smith / Michigan Radio

A Grand Rapids entrepreneur is launching a $15 million venture capital fund to turn people’s ideas into successful businesses.

The DeVos family is backing the fund, called Start Garden. Richard DeVos started Amway, now the world’s largest direct selling company.

Dustin Dwyer

In many ways, the headquarters for Eastern Floral in Grand Rapids, Mich. is like a factory. It’s in an old building with brick walls. The floor is smooth, cold concrete. A noisy printer rattles off new orders.

But of course, it smells amazing in here. Designers stand at long wooden tables, primping and pruning flowers. Red tulips. White daisies. Yellow roses. And just about any other flower you can imagine.

Bing Goei, the owner, says this work is more like artistry.

“I think you have to be born with that.” he says. “I was not. I admit it.”

Goei says this with a laugh.

But he was born with something else that turned out to be its own asset. He was born with a foreign birth certificate. His parents were Chinese. He was born in Indonesia, then moved to the Netherlands. From there, they moved to Grand Rapids, like a lot of Dutch people before them. Except, they have a Chinese name.

And like many of those immigrants before him, Goei worked hard. He started in the flower business in high school. Now, Eastern Floral has seven locations, about 60 year-round employees – twice that around Valentine’s Day – and the company has over $5 million in annual revenue.

Goei says being an immigrant, and being an entrepreneur, there’s a connection there.

“Almost every immigrant that comes to this country has come because they see America as that land of opportunity,” he says. “So immediately, their drive is to fulfill that dream.”

The data on this backs Goei up.

The Kauffman Foundation reports that immigrants are twice as likely as people born in America to start a business.

Richard Herman is an immigration attorney in Cleveland. Herman and Cleveland Plain Dealer reporter Robert Smith wrote a book called Immigration, Inc.

More and more people have been attending an annual event that helps entrepreneurs turn their ideas into realities.

It’s called The Annual Collaboration for Entrepreneurship and it happens Tuesday, January 31. It’s hosted by the economic development organization Ann Arbor Spark.

Skip Simms is Ann Arbor Spark’s senior vice president. He says the event helps people with small operations engage in some good old fashioned networking, which can help them grow their businesses. Simms says in a few years’ time, these small start-ups could grow into the next DOW, Kellogg, or GM, and hire thousands of employees in Michigan.

About 1,000 people went last year and the space outgrew its original location at Washtenaw Community College. It now takes place at Skyline High School in Ann Arbor. Tickets are $20 at the door.

Lindsey Smith / Michigan Radio

Governor Rick Snyder says he wants to attract more foreign entrepreneurs to the state. Snyder told a gathering of “The World Affairs Council of Western Michigan” he’d would like to leverage a federal immigration program to attract new jobs and investments.

The EB-5 immigration program

Paul Jendrasiak / GRNow.com

Tonight two Michigan entrepreneurs will give away $5,000 in a competition devoted to creating buzz around good ideas. Rick DeVos and Bill Holsinger-Robinson are trying to help make the best ideas a reality.

On the last Tuesday of each month, Pomegranate Studios (a business incubator DeVos and Holsinger-Robinson founded in Grand Rapids two years ago) offers 5 people 5 minutes to pitch their idea for a business, an organization, art project, anything really.

A panel of 5 judges then awards up to five thousand dollars to those with the best ideas.

Bill Holsinger-Robinson says they want to give people a platform for their ideas to grow.

“The event is really less about the grant making and is more about people sharing ideas and then getting people to act on those ideas within a community.”

Kurtis Garbutt / Flickr

Grand Rapids chef  Brian Gerrity with an idea for an underground supper club called “Fire & Knife” got $2,000 towards that goal.

“I’m a mercenary chef right now, chef for hire. It’s a fancy way of saying I’m unemployed."

He wants to offer a temporary venue where chefs don’t have to worry about normal constraints like food costs holding back their creativity.

5x5night.com

Entrepreneurs will get a unique opportunity to get their business idea off the ground in Grand Rapids. During “5x5” 5 people will have 5 minutes to present their ideas on anything from art to education to business. 5 judges will decide which of the ideas should be awarded up to $5,000.

Amway is one of the leading, if not the largest, direct selling companies in the world. Three people trying to sell the vitamins, cookware and beauty products the company distributes sued an Amway subsidiary in 2007. They claim the company then known as Quixtar misled them about start up costs and how much money they'd make.