Entrepreneur magazine ranks The University of Arizona's entrepreneurship program #2 in the nation
As the Karl Eller Center and McGuire Entrepreneurship Program celebrate their 20th year, student demand and ranking indicators reach new peaks.
TUCSON, Ariz. – April 14, 2004 – Entrepreneur magazine ranked The University of Arizona’s Karl Eller Center and McGuire Entrepreneurship program #2 in the nation in its 2nd annual listing of “Top 100 Entrepreneurial Colleges and Universities” which were released this week. This ranking is the only of its kind in that it ranks entrepreneurship exclusively and does not consider other school disciplines, areas of focus, or reputation factors. The #2 ranking represents votes by entrepreneurship program directors, faculty, and alumni. Moreover, the UA program is one of only five programs that have held the national top tier status from last year. The top tier programs are selected based on analysis of over 60 program elements and from among hundreds of programs. Only 12 programs are designated as national top tier. The other four who have remained in the top tier are Babson College, MIT, UC-Berkeley, and University of Maryland-College Park. Programs that have dropped from the national top tier include Harvard, Stanford, and Wake Forest.
Kenneth R. Smith, interim dean of the Eller College, said, “More than twenty years ago, Karl Eller shared with me his vision for an entrepreneurship program that would prepare students with the knowledge, skills and confidence for entrepreneurial marketplace success. It has been incredibly rewarding to see Karl’s vision become a nationally-recognized reality. Faculty, students, business partners, and program administrators have worked together to create a unique learning experience that gets better and better each year. This is well-deserved recognition.”
The Entrepreneur rankings are compiled by Santa Barbara, CA-based venture research firm TechKnowledgePoint Corp. David Newton, founder and CEO of TechKnowledgePoint says, “This ranking is only entrepreneurship. We measure more than 60 separate program dimensions, and schools like Arizona, DePaul, Maryland, and others have made entrepreneurship their flagship effort. They now have some of the best course offerings, faculty, special initiatives, and opportunities for venturing.”
Applicant pool for the class of 2005 is up across all measurables.
The program has attracted more applicants from more disciplines than at any time in its first twenty years. For the incoming class of 2005, undergraduate applicants in entrepreneurship were up 20% over any prior year. Undergraduate associate applications (students majoring in non-business fields who apply for an associate degree in entrepreneurship) were received from students majoring in mechanical engineering, molecular and cellular biology, other sciences, and public administration. 68% of the incoming Eller MBA class of 2005 applied to the McGuire Entrepreneurship Program. Graduate associate applications have come from fine arts, engineering, optical science, and seven applications from MIS students. The numbers are up across the board, showing that the demand continues to grow for entrepreneurship as an academic area of study in preparation for real-world application. The program has responded to increased demand by opening more program seats. Still, only one in three applicants is accepted to the program.
Rankings are up across the board.
In addition to the Entrepreneur magazine rankings, in the latest US News & World Report survey of graduate business education, released Friday, April 2, Entrepreneurship ranks 13th in the nation, marking the eighth consecutive year of upward movement in this category in both the graduate and collegiate rankings. The program is currently ranked 11th in the US News undergraduate survey, and has remained in the top 5% across all rankings since its inception in 1984.
Gary Libecap, director of the Karl Eller Center and McGuire Entrepreneurship Program, commented, “This program is clearly driving market demand. We are giving students the education they desire, and helping them develop the skills to successfully launch new businesses into the marketplace or give them the business planning skills to hold leadership positions in larger firms. We are constantly evolving the experiential learning-based program to prepare students for the business climate of tomorrow.”
Other McGuire Program notables:
- 750+ graduates.
- More than 250 businesses launched, with a large number located in Arizona.
- Major selected by 60% of Eller MBA class.
- Attracts more honors students than any other major at The University of Arizona.
- Formal partnerships with The University of Arizona’s Office of Technology Transfer, AzCI (Arizona Center for Innovation), Business Development Finance Corporation, and multiple Colleges on campus.
- Eight 2003 undergraduate teams competed in intercollegiate business plan competitions with all eight placing in the top three. Five of the last seven graduate division winners launched businesses within 30 days of graduation.
About the Karl Eller Center at the Eller College
For 20 years, the McGuire Entrepreneurship Program and Karl Eller Center at The University of Arizona have been nationally recognized leaders in collegiate and graduate entrepreneurship education. Among the first such programs in the country, the center has been a pioneer in a highly dynamic and innovative discipline. The center’s programs and initiatives have helped to define this explosive industry.
Associate Director, Karl Eller Center and McGuire Entrepreneurship Program
The Eller College of Management at the University of Arizona is internationally recognized for pioneering research, innovative curriculum, distinguished faculty, excellence in management information systems, entrepreneurship, and social responsibility. U.S. News & World Report ranks the Eller undergraduate program #12 among public business schools and two of its programs are among the top 20 — Entrepreneurship and MIS. U.S. News & World Report ranks the Eller MBA Full-Time program #44 in the U.S. The College leads the nation’s business schools in generating grant funds for research. In addition to a Full-Time MBA program, the Eller College offers an Evening MBA program, the Eller Executive MBA and the Online MBA. The Eller College of Management supports more than 5,000 undergraduate and 600 graduate students on the UA campus in beautiful Tucson, Arizona.
Liz Warren-Pederson, Eller College of Management
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