Abstract
This paper employs Frederick Jackson Turner’s Frontier Thesis of American democracy to construct a framework for understanding the U.S. university campus as an entrepreneurial ecosystem. One question that immediately comes to mind when studying ecosystem performance is what the proper unit of analysis is: the country, the state, the city, the region, or something smaller, like an incubator or accelerator? This paper suggests that the open, innovative American frontier that closed at the end of the twentieth century has reemerged in the entrepreneurial economy on the U.S. campus. The contemporary campus entrepreneurial ecosystem offers the characteristics of Turner’s frontier: available assets, liberty, and diversity while creating opportunity, and fostering entrepreneurship and innovation. A case study of the University of Chicago explores governance of the campus as an entrepreneurial ecosystem and the output produced by that campus ecosystem.
Similar content being viewed by others
Notes
At the time this research was published (July 2015), GRPN had a market cap of more than $3 billion.
Online coupon service Groupon was dubbed the fastest growing company in world history by Fortune magazine in 2010. With Mason as CEO, Groupon went public in November 2011; by raising $700 million in 1 day, it became the largest IPO of a U.S. Internet company since Google’s in 2004.
Techcrunch and Angelist are two of the crowdsourced public databases on venture-funded firms, investors, and other information related to entrepreneurship and innovation. In most cases, these sites depend on registered members submitting information with citations and links to citations. For example, SEC filings on ventures included in this research were located via these types of public databases.
Ranked number 10 in world university rankings by Times Higher Education; see http://www.timeshighereducation.co.uk/world-university-rankings/2012-13/world-ranking/institution/university-of-chicago; 2012–2013 QS world rankings. http://www.topuniversities.com/university-rankings/world-university-rankings/2012.
The history of the University of Chicago Press is fascinating in its own right, as it is responsible for many firsts in academic publishing and various other fields. Basic information the organization can be found at http://press.uchicago.edu/press/presshistory.html.
The Harper Center is named after a different Charles Harper. The namesake for the building is Booth graduate Charles M. Harper (‘50), former CEO of ConAgra.
The six Nobel Prize winners in residence at the University of Chicago Booth School of Business in 1997 were George Stigler (1982), Merton Miller (1990), Ronald Coase (1991), Gary Becker (1992), Robert Fogel (1993), and Merton Scholes (1994). See http://www.chicagobooth.edu/about/history.
Staying true to the original and current goals of experiential pedagogy for entrepreneurship, Booth offerings include the following courses: New Venture Lab, Private Equity and Venture Capital Lab, Social Enterprise Lab, Clean Tech Lab, New Venture Challenge, and Entrepreneurial Internship Seminar (Polsky Center, 2012). For a full list of the courses and labs that Chicago offers for students interested in studying entrepreneurship, visit http://www.ChicagoBooth.edu/entrepreneurship/curriculum.
The University of Chicago runs the Department of Energy’s Argonne National Lab and comanages the Fermi National Accelerator Laboratory.
The Social Enterprise Initiative was endowed in 2012 with a $5 million gift from former Computer Discount Warehouse CEO John Edwardson, MBA 1972
In February 2013, Accelerate Labs joined with Colorado- and New York-based venture accelerator Tech Stars. See http://gigaom.com/2013/02/01/techstars-takes-chicago-merges-with-excelerate-labs-incubator-program/. The accelerator continues to work with the University of Chicago and Polsky on various programs.
According to the most recent Bureau of Economic Analysis Report in fall 2013, Chicago continues to be the third largest metropolitan region in the USA, behind New York and Los Angeles and ahead of Houston and Washington, D.C. GDP by Metropolitan Division, BEA 13–42, September 17, 2013. See http://www.bea.gov/regional/index.htm.
References
Acs, Z., & Szerb, L. (2014). The global entrepreneurship and development index. London: Edgar Elger.
Aldrich, H. (1990). Using an ecological perspective to study organizational founding rates. Entrepreneurship Theory and Practice (Spring), 7–23.
Audretsch, D., & Thurik, R. (2000). Capitalism and democracy in the 21st century: from the managed to the entrepreneurial economy. Journal of Evolutionary Economics, 10, 17–34.
Baumol, W. (1990). Entrepreneurship: productive, unproductive and destructive. Journal of Political Economy, 98, 893–921.
Bhave, M. (1994). A process model of entrepreneurial venture creation. Journal of Business Venture, 9, 223–242.
Billington, R. (1966). America’s frontier heritage. New York: Holt.
Bush, V. (1945). Science: the endless frontier. Office of Scientific and Research Development: Washington D.C.t
Calia, M. (2014). GrubHub files for IPO up to $100 millionWall Street Journal. Retrieved fromhttp://onlinewsj.Com/news/articles/SB10001424052702304026804579411112762805686.
Carter, N., Gartner, W., & Reynolds, P. (1996). Exploring start-up sequences. Journal of Business Venturing, 11, 151–166.
Chowdhry, A. (2013) “eBay buys braintree for $800 million to accelerate its mobile payments revenue” Forbes.com. Accessed 9 August 2013. http://www.forbes.com/sites/amitchowdhry/2013/09/26/ebay-buys-chicago-based-braintree-for-800-million/
Daniel, C. (1998). MBA: the first century. Lewisburg: Bucknell University Press.
Daniels, S. (2016) Polsky gives $35 million to expand University of Chicago entrepreneurship. Crain’s Chicago Business. May 23.
Elkins, S., & McKitrick, E. (1968). A meaning for Turner’s frontier: democracy in the old northwest. In R. Hoftstadler & S. Lipset (Eds.), Turner and the sociology of the frontier. New York: Basic Books.
Etzkowitz, H. (2008). The triple helix. New York: Routledge.
Florida, R. (2002). The rise of the creative class. New York: Basic Books.
Galenson, D. (1984). The rise and fall of indentured servitude in America. The Journal of Economic History, 44, 1–26.
Gartner, W. (1985). A conceptual framework for describing the phenomenon of new venture creation. The Academy of Management Review, 10, 696–706.
Gartner, W. (1988). Who is an entrepreneur? Is the wrong question. Entrepreneurship Theory & Practice, (summer), 47-67
Goodspeed, T. (1916). A History of the University of Chicago, founded by John D. Rockefeller. Chicago: University of Chicago Press. Vol. 27, No. 2. Chicago: University of Chicago.
Harper, W. (1905). The trend in higher education. Chicago: University of Chicago Press.
Henrekson M., & Sanandaji, T. (2013). Billionaire entrepreneurs: a systematic analysis(IFN working paper no. 959). [add location]: Research Institute of Industrial Economics.
Higham, C. (1968). The old frontier. The New York Review of Books., (25 April).
Hofstadter, R., & Lipset, S. (1968). Turner and the sociology of the frontier. New York: Basic Books.
Holroyd, M. (1998). GSB launches drive towards center for entrepreneurship. GSB New Venture News, pp., 1–2.
Houlihan, P. (2006). The competitive edge. Chicago GSB Magazine, pp. 18-28.
Isenberg, D. (2014). What an entrepreneurship ecosystem is. Harvard Business Review.
Jacobs, J. (1961). The death and life of great American cities. New York: Random House.
Kaplan, E. (2013). Welcoming remarks (Edward L. Kaplan New Venture Challenge), Chicago.
Katz, J., & Gartner, W. (1988). Properties of emerging organizations. The Academy of Management Review, 3(3), 11–32.
Kerr, C. (2001). The uses of the university. Cambridge, MA: Harvard University Press.
Lipset, S. (1996). American exceptionalism: A double edged sword. New York: W.W. Norton.
Madsen, D. (1993). American exceptionalism. Edinborough, Scotland: Edinborough Press.
McNeil, W. (1991). Hutchins’ university: A memoir of the University of Chicago, 1929–1950. Chicago: University of Chicago Press.
Pletz, J. (2011) “Booth startups net $85 Million–a record for U of C biz school,” Crain’s Chicago Business. 12 July 2011. ChicagoBusiness.com
Polsky Center for Entrepreneurship and Innovation. (2009). 2008–2009 annual report. Chicago: Polsky Center.
Polsky Center for Entrepreneurship and Innovation. (2010). 2009–2010 annual report. Chicago: Polsky Center.
Polsky Center for Entrepreneurship and Innovation. (2011a). 2010–2011 annual report. Chicago: Polsky Center.
Polsky Center for Entrepreneurship and Innovation. (2011b). Firms started by Chicago Booth students received $85 million in funding this year (Press Release). Retrieved from http://www.chicagobooth.edu/about/newsroom/press-releases/2011/2011-07-12
Polsky Center for Entrepreneurship. (2012). 2011–2012 annual report. Chicago: Polsky Center.
Raice, S., & Smith, R. (2011). Groupon IPO cheers valley. Wall Street Journal. Retrieved from http://online.wsj.com/news/articles/SB10001424052970203716204577017773545604142
Roberts, E., & Eesley, C. (2009). Entrepreneurial impact: The role of MIT. Kansas City, MO: Kauffman Foundation.
Rudolph, F. (1990). The American college and university: A history. Athens: University of Georgia Press.
Saxenian, A. (1996). Regional advantage: Culture and competition in Silicon Valley and Route 128. Cambridge, MA: Harvard University Press.
Schramm, W. (1971) Notes on Case Studies of Instructional Media Projects. (Stanford University, California Institute for Communication Research: Palo Alto, CA).
Schumpeter, J. (1942). Capitalism, socialism and democracy. New York: Harper.
Slosson, E. (1910). Great American universities. New York: Macmillan.
Stam, E. (2015). Entrepreneurial ecosystems and regional policy: a sympathetic critique. European Planning Studies, 23, 1759–1769.
Storr, R. (1966). Harper’s university: the beginnings. Chicago: University of Chicago Press.
Thelin, J. (2004). A history of American higher education. Baltimore: Johns Hopkins University Press.
The world’s billionaires list. (2016). Forbes Retrieved from http://www.forbes.com/billionaires/list/4/#version:static
Truong, F. (1998). Ed Kaplan new venture Challenge awards $30,000 in cash prizes. GSB New Venture News, pp. 2-3.
Turner, F. (1920). The frontier in American history. New York, NY: Holt and Company.
Turner, F. (2008). The frontier in American history. Charleston, SC: Bibliobazzar.
Turner, F. (1894). The significance of the frontier in American history. Madison: State Historical Society of Wisconsin.
Turner, F. (1896). September, The problem of the west. The Atlantic.
Van de Ven, A., Hudson, R., & Schroeder, D. (1984). Designing new business startups: entrepreneurial, organizational, and ecological considerations. Journal of Management, 10(1), 87–107.
Veysey, L. (1965). The emergence of the American university. Chicago: University of Chicago Press.
Yin, R. (2009). Case study research: Design and methods. Thousand Oaks, CA: Sage.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Miller, D.J., Acs, Z.J. The campus as entrepreneurial ecosystem: the University of Chicago. Small Bus Econ 49, 75–95 (2017). https://doi.org/10.1007/s11187-017-9868-4
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11187-017-9868-4
Keywords
- Frontier
- Frederick Jackson Turner
- Growth
- Campus
- Ecosystem
- Higher education
- Unicorns
- Innovation
- American exceptionalism
- New venture creation