Wichita State University

Wichita, Kansas

Center for Entrepreneurship

W. Frank Barton School of Business

PETROPOWER, LLC

After winning the first Shocker Business Plan Competition at Wichita State University in 2007, PetroPower LLC was launched in April 2008 in Wichita, Kansas.  Prior to launching, the winners entered the venture incubator, BizInc, which provided PetroPower with WSU faculty, staff and facilities that have helped foster PetroPower in their start-up growth.

Start-ups in BizInc are surrounded by other like-minded individuals with similar goals and dreams of starting new businesses.  BizInc has given PetroPower the ability to capitalize in an environment filled with synergy and support.

PetroPower LLC, a start-up oil field management and service company, whose primary objective is to decrease the cost of oil production and increase the productivity and profits by monitoring and managing oil wells through wireless sensors for oil producers in the United States compared to foreign oil competitors.

By focusing on meeting the needs of independent oil producers to assist them in remotely managing their sites through reliable real time sensor data, PetroPower is projected to be the leading pioneer for the future of innovative technologies in oil fields by monitoring wells, controlling and protecting them more efficiently than ever before.

 

Out of the Classroom Learning

Out of the Classroom Learning

PROGRAM AWARDS & RECOGNITIONS

WSU has consistently ranked among the top undergraduate programs in the nation. In 2007, Entrepreneur Magazine, in partnership with The Princeton Review, ranked WSU as the 11th best program in the country for students seeking an undergraduate degree in entrepreneurship.

WSU was a recipient of the 2008 Global Consortium of Entrepreneurship Centers (GCEC) Award for Outstanding Contributions to Advance the Discipline of Entrepreneurship. Recipients were judged on their dedication to advancing, promoting and supporting entrepreneurship education as a field of study, teaching and outreach to their community.

WSU was also a finalist for the 2008 United States Association for Small Business and Entrepreneurship (USASBE) National Model Entrepreneurship Undergraduate Program.

 

WICHITA State University (WSU) is located in the largest city in Kansas enhancing the classroom experience by providing students greater opportunities in resources, contacts with business and government leaders, employment, and internships.

The Center for Entrepreneurship (CFE), part of the W. Frank Barton School of Business, has gained a national reputation for its programming and its continuing preservation and promotion of entrepreneurial activities. The CFE’s mission is to encourage entrepreneurial thinking and activities through quality education, research, and community involvement. Entrepreneurial degrees are provided at the undergraduate and graduate levels.

Undergraduate Entrepreneurship

The Entrepreneurship major requires the completion of the University's general education courses; the business core, which provides the student with exposure to other business functions, required entrepreneurship courses plus directed and approved electives. Business and non-business majors can earn a minor in entrepreneurship.

Entrepreneurship students develop skills for understanding risk analysis and opportunity recognition, for problem solving; development of a business strategy for a new or growing venture; for research and writing a business plan; for working with clients; and for acquiring capital. To augment classroom work, students can gain real world experience through different networking opportunities.

Undergraduate entrepreneurship majors are eligible to compete for scholarships totaling more than $75,000 annually.

Student Benefits

WSU attempts to monitor and assist students and alumni to become business owners and regional economic contributors in the state of Kansas. Students across campus are encouraged to appreciate and learn about the entrepreneurial process.

With its urban setting, WSU has a strong relationship with alumni and community members who participate in the many outreach programs sponsored by the CFE.  These individuals may be entrepreneurs, venture capitalists, angel investors, members of legal and accounting firms, economic development agencies, and not-for-profits. They participate as judges for the Shocker Business Plan Competition and Forum Series panel, as guest lecturers, and as examples for case studies.

Students are encouraged to broaden their academic experience with domestic and international studies through the exchange programs provided by entrepreneurship student groups: Association of Collegiate Entrepreneurs/Collegiate Entrepreneurship Organizations (ACE/CEO) and Students in Free Enterprise (SIFE).

Unique Entrepreneurship Programs at WSU

Shocker Business Plan Competition: The Shocker Business Plan Competition is the only competition of its nature in the state which is designed to encourage student innovation and venture creation by providing students an opportunity to present new business ideas to local business and community leaders.

BizInc: BizInc is a venture incubator focused on the earliest stages of entrepreneurial business development which accelerates the successful development of start-up companies. BizInc provides targeted resources and services including management guidance, technical assistance, and consulting tailored to young, growing companies.

Entrepreneurship Forum Series for Business Ownership: The Forum Series is an opportunity for students and the community to listen to and ask questions of a panel of professionals, experienced entrepreneurs and support professionals from different fields. Previous topics have included franchising, family owned businesses, acquisitions, start-ups, venture financing, women entrepreneurs, and global entrepreneurship.

Technology Commercialization: With an increase in demand for technology commercialization, WSU recognized the growing opportunity as a means for starting businesses with University-generated intellectual property. Working with University faculty, a course was developed to commercialize technologies with the goal of creating technology start-ups with internships available.