The Entrepreneurial Development & Assistance Center @ Morgan State University

EDAC

Annual Report
(October 1, 2010 - September 30, 2011)

FY 2011

Annual Report 2011

Table of Contents

Impact 3

Youth 4

Community 6

Morgan Students 8

WOMEN 11

Institute for Contracts & Entrepreneurship 15

Strategic Alliances 16

Media 17
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Alumni Support 18

Annual Report 2011

Impact

MISSION Connecting budding & existing entrepreneurs to resources for venture management & growth.

FY 2010
October 1 - September 30

FY2011

900

Morgan--students, staff, faculty, community individuals, students (in public schools), business owners and b u d d i n g e n t re p re n e u r s re c e i v e services from EDAC via workshops, conferences, speaking engagements, radio workshops, print media and management advisory services.

675

450

225

EDAC has assisted 7000 individuals (2004 - 2011)

Workshops & Conferences

MSU Students

Youth Outreach

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Annual Report 2011

Youth Outreach
EDAC partnered with a youth entrepreneurship organization to hosts a premiere youth-focused entrepreneurship conference that encourages youth to pursue entrepreneurship as a viable career option. It engages youth in the planning, innovation and execution of an entrepreneurial venture, leaving students intellectually charged and ready to propel their creative business ideas. Entrepreneurs Go 2 School (EG2S) is a traveling educational and workforce development tour that features an interactive address by a local entrepreneur. EDAC brings business owners to local schools to share their stories of success and their challenges in pursuing a career in entrepreneurship. Students participate in an interactive program that includes games, prizes, and resources to start their own business. Make It Happen Summer Business Academy, founded by Baltimore's own Kevin Liles, Founder and CEO of KWL Enterprises and one of the most respected executives in the entertainment industry, kicked off its inaugural season in Baltimore. The Make It Happen Foundation was started by Liles and his wife, Erika, to foster an environment for young people to realize their full potential. 20 students from Baltimore City and County public schools participated in the program. The students were tasked with creating a business plan based on some aspect of the media industry. After writing a business plan, the students presented their idea to a panel of judges. All of the teams received a cash prize. The winning team also had an opportunity to hang out with Kevin Liles at the Watch the Throne Concert. In fact, one team is working on turning their idea into a business.

Raquel Suber
Freshmen Psychology Major Morgan State U
Attended the 2008 Youth Business Builders Summer Camp as a student of a Baltimore City Public School

How did EDAC/YBB Summer Camp help you? EDAC/YBB Summer Camp helped me understand what it takes to start and run a business. I gain some valuable lessons and skills from presenting my idea to judges, hands on activities offered by the camp and working as a member of a group. I also learned how to manage my money and new leadership skills. How can EDAC/YBB help you now or in the future? Mr. Omar has already helped me by assisting in some of my job opportunities. In the future, I would like to utilize the services offered by EDAC to help in my career development and mentoring opportunities. Please feel free to share any other information about your academics and career goals below. I'm a full time student striving for a 3.0. My major is Psychology; however, I would like to obtain a minor in communications. I would like to be in the public relations field upon graduation.

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Youth
Being an entrepreneur means being dedicated. Cavonte Thomas

Annual Report 2011

I learned how to market an idea - Keyan Willis

I learned how to budget my money - Rashard Brown

I learned how to plan for the future and make my business successful. Anonymous
* All quotes are from youth that participated in the youth entrepreneurship conference.
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Annual Report 2011

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Community

EDAC in the Community

Financial Education & Entrepreneurial Development (FEED) Workshops hosted monthly TeleSeminar with Author James Merritt How To Publish A Book in 60 days and Make A Profit StartUp Weekend Baltimore (Mentor) 1st Annual Womens Entrepreneur Festival (Panelist/Moderator) Balanced WOMEN Tours (Host) Women entrepreneurs shared their entrepreneurial journey Online Workshop How to Fundraise for Your Project (Host & Presenter) Black Enterprise Conference (Exhibitor)
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Community
Frank Kennedy
Franks Place 6325 Windsor Mill Road. I Woodlawn, MD 21207 410-944-1014 Started Business 2009 Year(s) Participated 2005, 2011 Services Received Business Plan Writing Class and students from Morgan conducted a strategic audit on business EDAC helped me...

Annual Report 2011

Round II: Boosting Your Business with Hot Tips, Technology, and your MBS (Maryland Business Stimulus), (Panelist) Keynote speaker at the Year of the Youth and workshop presenter Baltimore Business Journals Growth Expo; conducted a workshop on Game Plan for Entrepreneurs Nationwide On Your Side Tour; conducted a workshop on How to Start a Small Business RULES for Black Men Symposium. conducted a workshop on Starting a Business While Still in School. Exporting 101 Workshop, (Host) They dont teach you this in college hosted by Morgan State Alum Marcel Umphrey
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to identify the resources necessary to operate a business. Prior to starting my own business, I worked for an existing barber shop. I have over 20 years experience in the industry (technical side), but needed assistance with the business side. To help me prepare, I participated in EDACs business plan writing class. The class helped me brainstorm my ideas and understand what I needed to start and grow a sound business. How is EDAC helping you now? Morgan State Universitys students are working to identify strengths, weaknesses, opportunities, and threats in my business. The information from the students report help me as I operate and grow my business. Moving into next year, EDAC will assist me in identifying subject matter experts for my advisory board.

Morgan Students

Annual Report 2011

Entrepreneurial Society
The Entrepreneurial Society's (ES) mission is to expose students to entrepreneurship and provide resources to help them execute ideas into business opportunities. ES members volunteered at the annual youth entrepreneurship conference Students entered the annual Collegiate Biz Challenge Alumni gave back by sharing their experiences with members of the ES

professor) class, aided local businesses by using theory in a real life setting. Entrepreneurs received guidance in: exit strategy for government contracts operational efficiency entrepreneurial ecosystem for space exploration developing a national womens center brand positioning in the marketplace expanding beyond a one person shop

Bootcamp
The mission of West Liberty University's Emerging Minority Business Leaders (EMBL) Program is to develop and empower students from a wide variety of ethnic, economic and cultural backgrounds to become the next

Academics Meet Entrepreneurs

Since 2009, business school students from Dr. Christopher Mathis (school of business

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Morgan Students
generation of entrepreneurs and technology leaders for the advancement of American Society. Eight students from Morgan State University participated in the 2011 Emerging Minority Business Leaders two week (June 11 through June 24) rigorous entrepreneurial

Annual Report 2011

Fey Odukoya
Morgan State U Student (Senior) & Founder of Project Beautify You Started Business 2010 www.pbyinc.org Started Business in 2010 Year(s) Participated 2009, 2010, 2011 Services Received Mentorship for my startup nonprofit business and member of the Entrepreneurial Society EDAC helped me... to connect with seasoned women entrepreneurs, guidance with starting my nonprofit organization and funding through its annual business plan competition. As a student, Im constantly involved in my school work, school clubs and growing my business. Navigating the small business resources can be a challenge. EDAC is a great resource for helping students find the tools needed to start their business while still in school. How is EDAC helping you now? EDAC is currently helping me with the launch of my nonprofit organization by offering me one on one counseling every month, showcasing my organization during conferences, meetings on Morgan State Universitys campus and within the community. This year, my company was a member of the National Advisory Council for the 5th W.O.M.E.N. Conference. Once again, my company was highlighted and I was able to support the efforts of EDAC during the conference. I will remain involved in EDACs activities while at Morgan and when I graduate.

bootcamp in Wheeling, West Virginia. Morgan State University students were represented on 8 of the 10 teams of 60 students from across the country. Congratulations goes out to three MSU students whose team placed 2nd (Kwadwo Frimpong and Elizabeth Sodipo) and 3rd (Jonnai Jones). Out of 60 students, Morgan State University represented the largest number of students from a university and/or college. Omar S. Muhammad served as senior facilitator and business coach to other facilitators and students. Students received classroom instruction on entrepreneurship, information from federal agencies on resources for small business owners, visited local entrepreneurs and received additional information from entrepreneurs and other service providers.
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Annual Report 2011

Morgan Students

Give Back! Morgan Students Society and Students in the E school majors freshmen business time to assist volunteered their conferences-with EDACs major reneurship Yo u t h E n t r e p .M.E.N. Conference and W.O

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Annual Report 2011

WOMEN

The annual W.O.M.E.N. Conference is designed to assist women in managing a competitive and profitable enterprise as a direct result of industry expertise, ideas for small business funding, access to strong peer networks, proven strategies for effective

marketing, work-life balance, and protecting your small business assets. The W.O.M.E.N. Conference represents success through a collaborative environment for aspiring and seasoned women entrepreneurs to thrive.

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Annual Report 2011

WOMEN

A $1,500 scholarship was awarded to Morgan State University sophomore and INSS major Kylea Matthews-Battle.

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Annual Report 2011

7 158 22 participants 129 18-70

Photographer Videographer Speakers (3)

141 17
Women Men

Volunteers (2)

Alumni

Students

Others

#edacwomen2011

Age Range

The hashtag attendees used to tweet during the conference.

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Annual Report 2011

Years in business

31%

30%

39%

Under 1 year

1- 5 years

6 years or more

We will travel...
2 10 1 3 1 106

EDAC

Women organizations

Social Media

10%

How participants heard about conference

29%

62%

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Annual Report 2011

Institute for Contracts & Entrepreneurship

Department of Defense Mentor Protege Program Since 1991, the Department of Defense (DoD) Mentor-Protg Program (MPP) has offered substantial assistance to small disadvantaged businesses. Helping them to expand the overall base of their marketplace participation has produced more jobs and increased national income. The DoD Mentor-Protg Program assists small businesses (protgs) to successfully compete for prime contract and subcontract awards by partnering with large companies (mentors) under individual, project-based agreements. EDAC develops opportunities for academia, industry and government to assist small businesses. EDAC was awarded HBCU of the Year by L3 for being the ideal teammate for the excellent and extensive performance on DoDs Mentor Protg Program Agreement with Intecon LLC. Omar S. Muhammad accepted the award on behalf of EDAC. Les Rose is the president of L3.

James Hamlin
The Avenue Bakery https:// www.facebook.com/ pages/The-AvenueBakery/ 183501368373591? sk=info Started Business 2011 Year(s) Participated 2010 Services Received students from Morgan conducted a strategic audit on business EDAC helped me... to clearly look at the opportunity of opening a bakery on Pennsylvania Avenue in Baltimore. Over the years, Ive done a great deal of work on Pennsylvania Avenue. As part of the revitalization of the area, I thought about creating a business. This is when I went to Omar asking for advice on evaluating the opportunity. Through Omars relationship with students participating in Dr. Mathis strategic business class, I was able to move my concept forward. How is EDAC helping you now? Students from Morgan State University and Omar will visit my bakery at least twice per year to offer advice on operations. In addition, working with EDAC, we will use my conference space in the back of the bakery to hold classes for residents of the community on starting, operating and growing a business.

Mentors

Sample of Services Offered to Proteges

Strategic Planning Capability Maturity Model Executive Management Training ISO 9000 Project Management Branding Strategies

DOD

Prime Federal Contractors

Small Businesses

HBCU/MIs providing development services Page 15

Annual Report 2011

FY 2011 Strategic Alliances

Organization BA Systems, LLC Bank of America Constant Contact CreateIT Photography Darker Than Blue Cafe Downtown Locker Room Dr. Christopher Mathis, professor, MSU Dr. Evelyn Perry, Dir, Profess Dvlp Schools, MSU Dyncorp International Eccentrics The Spa Sanctuary Emerging Technology Centers HunnyDo IBM Isaacs & Simmons, P.C. JoeManns Awards Justin Inspires Juxtopia, LLC L3 Stratis Liv Large M & T Bank Manjoe Insurance MD Dept. of Housing & Community Development MDOT (Office of Minority Business Enterprise) Mind Over Money, LLC Moms R the Best Morgan Stanley Movie Solution MTA Much Moore Consulting NASA Nationwide Insurance PDR Web Solutions Project Beautify You Real Womans Guide United States Small Business Administration Sisters 4 Sisters Network, Inc StartUp Baltimore Strategies Empowerment Group, LLC Substantial Music The Atmosphere Salon University of Taste UP & UP Music Vista Mobile Solutions Virtual EA Women Presidents Educational Organizations-DC Youth x x x x x x Morgan Student x

Areas participated Women x x x x x x x x x Contracts & Business Media

MSU Alum

x x

x x x x x x x x x x x x x

x x

x x x

x x x x x x x x x x x x x x

x x x

x x x x x x

x x

x x

x x x x x x x x x x x x
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x x x x x

Media

Annual Report 2011

EDAC uses media as a platform for assisting small businesses and highlighting activities. Tune in to Briefcase Radio Workshop on WEAA 88.9 f.m., Sundays at 9pm. Follow EDAC on

You can nd some insightful articles on entrepreneurial growth each month in the Baltimore Business Journal.

Follow Omar S. Muhammad on Twitter @improveprogress as he documents his journey with entrepreneurs offering them tips and advice to improve and progress within their business.

www.facebook.com/ edaccampus.
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Alumni Support
Marcel Umphrey
A+ Neighborhood Homebuyer
www.apnhomebuyers.com Started Business 2005

Annual Report 2011

Throughout the year, alumni participated in EDAC events by assisting students and giving back via resources and their time.

Year(s) Participated 2005 & 2009 Graduated from Morgan State University in 2006 with a B.S. in Physical Education Services Received B u s i n e s s P l a n W r i t i n g C l a s s , Yo u t h Entrepreneurship Outreach to middle/high schools

Alumni participated in the Entrepreneurial Society activities, the annual youth entrepreneurial conference, the summer

Youth Business Builders summer institute, on the radio workshop, and hosting activities to support youth entrepreneurs. Many of the alumni who assisted where under 30 years old.

EDAC helped me... focus my company. Initially, my partner and I focused on residential redevelopment. During EDACs 8 week business plan bootcamp, we were able to network and learn from other aspiring entrepreneurs. One of the main focal points of the business plan boot camp was to introduce participants to industry specified entrepreneurs who shared how they started and strategies they used to grow their business. It really gave us a first hand look into the industry we were operating in. Our focus increased to other areas of the real estate industry. How is EDAC helping you now? Through BriefCase radio workshop, Im serving as a subject matter expert on deal making. I also give back by speaking to youth during the entrepreneurial tours offered by EDAC. In addition, as a growing entrepreneur, I find myself seeking advice and guidance from Omar. I would recommend and support any service or event they (EDAC) offer to season and aspiring entrepreneurs.

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Sounding Board
Brad Redd, Metlife LaKeisha Grant, Virtual EA Teanna Jones-Dixon, L3 Stratis William Mapp, III, BA Systems, LLC Gregory Reyes, Dyncorp Stanley Tucker, MMG Group Tiffany Lymon, Mind Over Money Isaac Manjoe, Manjoe Insurance Dr. Jayfus Doswell, Juxtopia, LLC

2012 Objectives
Achieve all Title III Objectives Develop entrepreneurship initiatives to assist veterans (MSU Goals 4 & 5) Expand the skill set of students, faculty and entrepreneurs in the federal government market space (MSU Goal 1, 4 and 5) Conduct research on entrepreneurship as a tool to assist entrepreneurs (MSU Goals 2, 4, 5) Develop business clinics within the community to further assist entrepreneurs (MSU Goals 1, 4, 5) Develop initiatives to support technology entrepreneurs of color (MSU Goals 1, 2, 4, 5) Develop a mentor tool to assist entrepreneurs (MSU Goals 1, 4, 5) Assist other universities in creating entrepreneurial centers (MSU Goals 1, 4, 5)
The Entrepreneurial Development & Assistance Center (EDAC) objectives are in line with Morgan State Universitys Goals from its strategic plan. Visit http:// www.morgan.edu/Strategic_Plan.html to review Morgan State Universitys Strategic Plan.

Staff Omar S. Muhammad, Director Yvette Racks, Administrative Assistant Andre Smith, Graduate Assistant

Morgan State University Entrepreneurial Development & Assistance Center (EDAC) Earl G. Graves School of Business and Management 1700 E. Cold Spring Lane McMechen Building, Suite 102B Baltimore, MD 21251 443-885-3663 443-885-8345 fax www.edacmorgan.com

Funding for the Entrepreneurial Development & Assistance Center is made possible by a grant from the United States Department of Education, Title III Program