Entrepreneurship Society of Notre Dame

The Entrepreneurship Society of Notre Dame is an undergraduate business organization at the University of Notre Dame.
A 2009 article from the Notre Dame Observer, campus newspaper, reported, "When Notre Dame junior political science major Jaime Urquijo attended his first Entrepreneurship Society meeting as a freshman, the club was barely more than five students. Just two years later, club meetings have an average attendance of over 150 students and the club continues to work to bring in more students of all majors."
The Entrepreneurship Society has grown from a handful to over 200 active members and an e-mailing publication of nearly 1,000 subscribers within 24 months. It was also named to the Younoodle.com Alliance for Top 50 International Entrepreneurial University groups. The Entrepreneurship Society has held Keynote events including a 2007 Harvard Business School Alumni Achievement Award Recipient, a business leader featured on the Cover of Entrepreneur Magazine, C-Level Fortune 500 executives, and Silicon Valley Venture Capitalists.
Events and Recent Timeline
1. Fall 2007: Case Study Method meetings were experimented with and in 2008 the inaugural "Case Bowl" competition was established.
2. Fall 2007: Sherry Barrat (Co-President of Northern Trust's Personal Financial Services, with 22% of Forbes' Richest 400 Americans as clients and some $77 billion under management) serves as Keynote Speaker
3. January 2008: The Innovative Moment & Opening Night Première ignites the "Innovation Revolution" at the University of Notre Dame
4. October 16, 2008: Jaime Augusto Zobel de Ayala, (CEO of Ayala Corporation, 2007 Harvard Business School Alumni Achievement Award Recipient, 2005 Management Man of the Year in the Philippines) serves as Keynote Speaker.
5. November 2008: Team Visio Wins inaugural Case Bowl I
6. November 2008: Kevin Connors, former CEO of nine firms and Venture Capitalist at Spray Ventures hosts inaugural CEO Dinner
7. January 2009: new spin off divisions for Venture Capital & Private Equity, along with an E-magazine are launched from a position of organizational strength
8. March 2010: Team North Face Wins Case Bowl II
9. April 2009: Chad Troutwine (CEO of Veritas Prep, Forbes Magazine's 2002 Future Capitalist of the Year and featured Trailblazer on the cover of Entrepreneur Magazine in 2009) serves as Keynote Speaker
10. April 2009: Inaugural Entrepreneurship Week Launched, students interact with 40 University of Notre Dame affiliated venture capitalists, executives, and entrepreneurs during a week of events
11. September 2010: Entrepreneur and Professor Jeffrey Bernel named Advisor
12. November 2009: Team Wins Case Bowl III
13. March 2010: TOMS Shoes Wins Case Bowl IV
14. May 2010: ND SIFE Wins Regional Crown & Rookie of the Year Honors
15. January 2011: Venture Capital Pitch Competition set for scaled up launch
The Opening Night Premiere & Innovative Moment
Now known for its road shows, the Entrepreneurship Society's first road show took place in 2008 before the opening night meeting for new members. A team of 8 officers went dorm to dorm and classroom to classroom all across campus, giving presentations to students of all academic backgrounds about the benefits of the club. Do to this advertising tactic, attendance at the Opening Night Premiere soared from a few dozen to over 100 students, packing a mid-sized auditorium room.
Six leaders (Bob Huguelet, Jaime Urquijo, Michael Streit, Donald Whitley, Mark Bennett, and Kate Von Hoffman) delivered a case method presentation on the history and learning point's about the growth of the multi-billion dollar enterprise, Virgin Group, and its founder and CEO, Richard Branson. Opening remarks were made by Co-President Bennett, who challenged the students to make the most of their talents, using them as a vehicle to help themselves and others through Entrepreneurship. Analytical sections by key leaders like Huguelet, Whitley, and Von Hoffman followed. Then Streit and Urquijo took the stage for the finale.
Streit began by comparing maverick entrepreneur Richard Branson to the gun slinging quarterback Brett Favre of the NFL. He explained that, like Favre, many of the strategic moves by Branson were not always recommended by the mainstream and they didn't necessarily look pretty; however, Branson's bold, contrarian style worked even in challenging circumstances. The crowd was very receptive to the comparison between the billionaire British business icon and the aging American sports hero. Urquijo took the last leg of the presentation summarizing everything that an individual and an organization could learn from the Virgin Group case.
After the presentation, scores of new recruits signed up for participation in new projects. The school newspaper, the Observer, wrote a front-page article the next morning on the Entrepreneurship Society, noting its "skyrocketing membership" and labeling it perhaps the "fastest growing undergraduate organization on campus." The week afterwards, dozens of Professors and students circulated congratulatory e-mails for the efforts in re-vitalizing a sense of innovation, entrepreneurship, and social responsibility. This series of pivotal events is now considered the "Innovative Moment" or "the Opening Night Premiere" whereby the Entrepreneurship Society went from a niche sub-culture on campus to a main stream movement, and is often referred back to when identifying the important values of the E-Society. Meetings with attendance levels around 150 students occurred regularly over the next two years. The organization looked to expand off of their success.
In 2009 the school newspaper reported, "The club's leaders are looking to surpass Stanford and Oxford's Entrepreneurial Societies, both of which have more than 3,000 members. '"We can learn from Oxford and Stanford, even just their recruiting structure,"' said sophomore Dominic Fanelli, who is in charge of recruitment for the club. Fanelli and other club members continue to recruit new members with their "road show," where they present the Entrepreneurship Society to various Notre Dame lecture classes."
Recent Past Presidents
Though the organization is young, the Entrepreneurship Society of Notre Dame is becoming notable for helping develop leaders who soon become sought after by some of the top institutions in the world. Recent alumni now work at companies such as McKinsey & Co., Bain & Co., Goldman Sachs, JP Morgan Chase, and University of Cambridge. After several years of professional development, many of them have expressed an interest in tapping into their past networks and launching new enterprises. Below is a list of some past Presidents and leaders and their current endeavors.
Vijen Patel (Vice President 2008)
• Consultant at McKinsey & Company in London
Cecilia Navarro (Vice President 2008)
• Economics Consulting in Florida
Mark Bennett (Co-President 2007-2009)
• Graduate student at the University of Cambridge, England in the MPhil in Innovation, Strategy, and Organizations program
Jaime Urquijo (Co-President 2008-2010)
• Private Banking Analyst at JP Morgan Chase in New York City
Michael Streit (Co-President 2009-2010)
• Associate Consultant at Bain & Company in Chicago
Richard Tillilie (Co-President 2010-2011)
• Investment Banking at Goldman Sachs in New York City
John Rocha (Co-President 2010-2011)
Key Executives: Christian Guzman (Bank of America / Merrill Lynch) Robert Huguelet (Information Technology Management), Phil Pezza (Business Analyst at Target), Kevin Marvinac (E&J Gallo Wineries), Denise Ellison (Investment Banking at JP Morgan Chase), Kate Von Hoffman, Inoh Choe, Anne Laughlin, Christine Lynch, and John Rocha.
Faculty Advisor
Jeffrey Bernel
• Teaching Professor of Strategy at the Mendoza College of Business
• Co-founder and former co-director of the Gigot Center of Entrepreneurial Studies
• CEO of Unitek Solutions
• CEO of American Rubber Products Corporation
• CEO of Bernel Investments
Recruiting
In recent years, the Entrepreneurship Society of Notre Dame has become among the top recruiters for incoming freshmen and sophomores at the school. The club actively seeks these students out and targets students who want to be part of shaping a "different kind of organization," one that paradoxically embraces creativity and fun alongside results and personal development. While every individual is expected to be the best they can be, a supportive atmosphere whereby no one takes themselves "too seriously" has become a hallmark of the close knit relationships between officers and other officers, officers and new recruits, and officers and alumni. Over 50% of Co-Presidents since 2008 have been non-business majors. Recruiting non-business majors and helping them build their network and develop themselves for post graduate opportunities has been a key objective. A major selling point has been identifying the underclassmen with high potential and explaining to them that they can be the pioneers in helping shape the next chapter of the organization. Such a strategic leadership position, in itself, is emblematic of entrepreneurship, innovation, management, and marketing.
Dynamic Organizational Culture
The organization is composed of students of all majors, from all dorms, and hailing from hometowns all over the world. Insiders have described a distinct culture that resembles some sort of hybrid between an academic bent of a premiere graduate business school, the goal-oriented and collaborative atmosphere of a high school athletics team, a social club where members make long-lasting friends, and a service organization where people are able to help people in need through their projects. According to past leaders, students and the organization are striving to achieve the remarkable, but not at the expense of sacrificing personality.
The Entrepreneurship Society of Notre Dame seems to thrive on setting itself apart from other organizations by instilling a contrarian, laid back culture. The occasional prank or wise crack during the middle of competitive analytical presentation has almost come to be expected. In their case studies, the organization focuses on studying young, relevant, billion dollar companies like Facebook, , North Face, and Victoria's Secret. The Entrepreneurship Society studies start-ups in Silicon Valley, and fittingly seems to embody an emerging start-up in Silicon Valley. They reinforce these notions:
Michael Streit, 2009-2010 Co-President and Chairman, said in a 2009 article in the school newspaper, “One thing that’s cool about this is kids are here in sandals and riding bicycles around,” Streit said, “We are having fun and studying business because we like studying business not because we like dressing up in suits. We are really just the cool laid-back business club.”
Kevin Kray, 2008-2010 Chief Marketing Officer, said in a 2008 article in the school newspaper, "The Entrepreneurship Society is not just another nerdy academic club," Kray said. "We wish to hold events that not only foster entrepreneurship and creative thinking but that are also fun and informative."
Jaime Urquijo, 2008-2010 Co-President, said in a 2009 article in the school newspaper, "We try to encourage non-business majors to join," Urquijo said. "We're looking for a diverse group of students with very different ideas and backgrounds. Anybody can be an entrepreneur."
Mark Bennett, 2007-2009 Co-President and Chairman, is remembered for delivering presentations in front of hundreds in Hawaiian shirts, ripped jeans, and sport jackets. However, while individuality and fun was encouraged, it was not at the expense of personal conviction and purpose. He said in a 2009 article in the school newspaper, "Entrepreneurial leadership is a noble pursuit. It can change lives and change the world."
2008 Vice President Bob Huguelet said, "If your passions and dreams are about taking a stand...if it is bold, and unconventional, then we think that's cool. Go after it. Be yourself."
In a 2009 school newspaper noted the talented crop of incoming members, "Club members are given a chance to participate in Case Bowl, where groups research and give a presentation on a certain company. Freshman Kevin Ortenzio was one of this year's participants. "There are talented students here who compete better than I do," Ortenzio said. "It's that competitive atmosphere that drove me to become a part of this club."
Organizational Structure
The Marketing Group for Opening Nights, Keynote Speakers, and CEO Dinners
The Entrepreneurship Society large Keynote events whereby business celebrities share advice and engage in dialogue with students. They also offer more intimate "CEO Dinners," where groups of 10 to 12 can get to know successful business leaders at dinner. Inoh Choe and Kate Von Hoffman were past Directors of this initiative. Organizing and promoting such events for well-being of students is critical.
The school newspaper reported in 2009, "Along with various projects, the club's leaders arranged CEO dinners and keynote speakers to present the society with a short presentation and allow for questions. One of these speakers was Tom Suddes, a Notre Dame alumnus who has founded 19 companies and raised over a billion dollars for non-profit organizations. "We hope that these presentations are inspiring," Bennett said. "They show the students that the people who accomplish remarkable things are normal people who lived a very similar lifestyle to them in college." The club's leaders hope to give students experiences they wouldn't usually have - to give them the chance to meet people and make contacts and, by allowing students of varying majors to work together, to expose them to new perspectives. "Really our biggest focus is education," Urquijo said."
The school newspaper reported in 2008, "Jaime Augusto Zobel de Ayala II, winner of the 2007 Harvard Business School Alumni Achievement Award, said it is possible to help out poor communities while at the same time making a profit in a lecture hosted by the Entrepreneurship Society Tuesday. Ayala spoke to students about how he has developed business solutions that engage impoverished areas while still moving forward with economic growth.
Ayala is the CEO of the Ayala Corporation and received the award for providing water for poor areas in his home country, the Philippines. At the start of this project in 1999, only 26 percent of people in the Philippines received water 24 hours a day, Ayala said. In 2007, after Ayala and his corporation had completely redesigned the project, the number rose to 99 people. At the same time, the company made a profit, he said. "Originally in 1999, we invested $67 million into the project. The company now makes $50 million per year off this venture," Ayala said.
He said this new way of doing business is exciting and it also does a lot of good for those in need.
Ayala said business ventures that create a social development agenda will help to alleviate poverty in some of the poorest areas of the world, but the process will not be without its hardships.
"Businesses will face both operational and cultural challenges," Ayala said. "They have to take their social development agenda and integrate it with a business strategy."
In order to do this, Ayala said businesses must know about the culture and the people they are trying to do business with and remember that, in some cases, they are working with people living below the poverty line.
"Businesses that are setting out on these ventures need to expand their market but also reach people who have less money to spend," Ayala said. "They need to think of whole new ways to bring costs down."
"You want to touch communities at the lowest level of income and make them your customers," Ayala said. "In order to do that, you have to make it beneficial to them." The biggest challenge that companies will face is changing the way that they do business and adapting their methods so that they will fit with the community and people that they are trying to reach, Ayala said. "The companies that enter into this have to work with these low-income communities in different ways than they normally would," Ayala said. "These are markets that are growing around the world and we have to deal with them in whole new ways."
He said this new way of doing business is doing a lot of good for less fortunate people all over the world and is also profitable when the companies approach the enterprise in the right way.
"There are great opportunities to get good returns by expanding into these poorer areas," Ayala said."If you tackle these areas correctly, you will make a huge profit." Ayala said companies must consider people as well as money when they make decisions about their business ventures.
"Business is not just dealing with numbers and marketing; it also deals with people," Ayala said." We can have capitalism that fulfills social development and addresses the needs of people around the world."
The Case Bowl Group (CBG)
The oldest of the Entrepreneurship Society divisions, the Case Bowl has created a unique tradition on campus whereby a majority of the club's next leaders are developed as freshmen and sophomores. Winners get $1,000 prizes from sponsors. The past 5 Co-Presidents of the E-Society have been Case Bowl participants, though the dynamic of new leaders from within club are evolving. The Case Bowl is student run, with former participants serving in a Director capacity. Past Directors have included Inoh Choe, John Rocha, Kyle Fitzpatrick, Tom Haylon, Denise Ellison, Rina Ventrella, Chris Michalski, Andrew Rehagen, Christine Roetezel, Will Streit, and others.
The origins of the Case Bowl were derived from a group of "fun, organizational strategy nerds." "Three years ago we were just a club of 25 students who would get together and talk about cool companies,” Entrepreneurial Society President senior Michael Streit said. “So then we thought this is fun we have a small group here why don’t we take it to a bigger scale and make it into a competition." The opportunity and demand revealed itself and then Co-President Mark Bennett instituted and organized the first Case Bowl competition.
According a 2008 school newspaper, "The Case Study Bowl first began in 2007 and quickly became the Entrepreneurship Society's signature event. It is based on Harvard Business School's own case study program. This year's Bowl started out with six teams representing six different companies. The preliminaries, held on Oct. 28, eliminated half of those teams leaving the remaining three to go head-to-head in the finals. The three companies that were featured in the finals this year was computer giant Google, holding company Berkshire Hathaway and LCD television manufacturer Vizio."
Each group, composed of three- to five-man teams, had 20 minutes to discuss the history of the company, their current operations, the outlook for the future, and provide an overall analysis of the company in DeBartolo Hall. Following each individual presentation, three University professors serving as judges give their insights on the information presented and the team's performance. "Although the event will be educational and give the audience insight on these companies, it is intended to be a very fun and lively event with a sports theme, audience interaction, free pizza and drinks, an emcee and more," Kray said.
"It teaches the audience about several highly successful and innovative companies, as well as how they can relate to them," Kray said. "Students can learn about the companies being presented and learn how to relate their successes in their own lives. They also learn innovative and creative ways of performing presentations." At the end of each presentation, the teams discussed how their particular company's ideals can apply and be implemented into the average student's life. All three teams informed the audience to remain true to their ideals when setting goals and to always retain integrity in everything that they do. After all the presentations had been given, audience members were given a ballot to vote on which presentation they thought had been the best overall. The audience was asked to judge each group based on the presentation of the material, creativity and the relevance of the presentation. The audience accounted for 50 percent of the vote, and the judges the other 50. After all the votes had been counted, team Vizio was declared the winner of the Case Study Bowl."
• 2008 Fall Champions: Team Vizio
• 2009 Spring Champions: Team North Face
• 2009 Fall Champions: Team
• 2010 Spring Champions: Team TOMS Shoes
The Social Entrepreneurship & Consulting Arm
The Social Entrepreneurship & Consulting Arm was once an infant organization itself. But after the success of the Case Bowl, this arm has spawned sustained success and provides some of the best real-world experience of any club on campus. Looking to continue the phenomenal success achieved since its inception in 2008, the Notre Dame Entrepreneurship Society's Social Entrepreneurship & Consulting wing plans to expand the scope and depth of its operations by increasing the scale of its consulting projects, and maintaining a high level of educational value for students who provide service to the citizens of the greater South Bend area.
Working in tandem with the South Bend Small Business Development Center, club members have provided local entrepreneurs with professional consulting services, applying concepts learned in the classroom and engaging in high-level industry research. The society looks to expand this particular area of operation from two projects per academic year, to two projects a semester, while stressing the hands on business-oriented service opportunity it provides to students.
In the Notre Dame spirit of service, the society also aims to continue its strategic partnerships with local banks in helping provide personal financial education services to low-income, Spanish speaking families in South Bend and Mishawaka. This service offers students the unique opportunity of promoting the values inherent in entrepreneurship, while serving the community in a meaningful and productive manner.
The society will also continue its oldest service project, termed "Invention Convention," in which Notre Dame students assist high school students with their creative business plans, helping foster an education in entrepreneurship for South Bend's brightest young scholars.
These projects are among the dearest to the Notre Dame Entrepreneurship Society, and constitute one of the club's core competencies, combining community service with hands-on experiences in entrepreneurship. In particular, the club's website highlights 4 of its core projects.
SBDC Initiatives
In 2007, the SBDC initiative was one of the most tangible projects in the entire Entrepreneurship Society portfolio. The brainchild of Cecelia Navarro, an economics major, the group worked hand-in-hand with the to provide short-term consulting to local small businesses. The group worked with two companies over the course of the school year, delivering professional presentations to the businesses at the end of the spring semester.
In 2008, future club Co-President Michael Streit took the reigns from Cecelia and was able to capitalize on the growing popularity of the Entrepreneurship Society as a whole by adding dozens of new members. He formed five teams - each of which met with a different small business owner multiple times throughout the course of the year. The businesses served ranged from a manufacturer of pet coffins to an eye glass boutique.
Perhaps more important than the business advice given during that year, however, was the generation of leaders that was cultivated. After one year of “on-the-ground training,” six members of SBDC teams stepped up to lead groups of their own in the 2009-2010 campaign. Thanks to the sheer quantity of talented leadership, these leaders were able to focus specifically on one project for the entire year, as opposed to having to divide their time. The results were outstanding.
Under the leadership of Social Arm VP Lauren Sullivan, who succeeded Streit, leaders Matt Dabaco, Katie Zillmer, Liza Navarro, Eileen Sullivan, Caitlin Alli, and Kyndrea Head worked with small businesses to provide real, actionable business advice. Their work was profiled in the , which quoted Dabaco as saying, “It (is) hands-on stuff. It’s better to get real-world experience rather than just being in the classroom.”
The Invention Convention Program
Designed to give our members the opportunity to mentor South Bend high school students in constructing viable business plans. The group, consisting of a 5 to 10 person team, meets once per week on either Tuesdays or Thursdays in the spring. There is a culminating presentation by the high school students to a group of business panelists and dozens of other onlookers in April every year. The owner of the winning plan receives a $1000 prize and a trip to New York.
The El Campito Program
Designed to serve the Hispanic community of South Bend in educating them about personal financial issues. This is an opportunity to give back to the community and to apply any of the Spanish, personal finance, consulting, and presentation skills that students are looking to develop. The group, consisting of a 5 person team, partners with JP Morgan Chase in putting on the events.
SIFE
The Notre Dame school website reported the following a press release about SIFE, an Entrepreneurship Society and Social Arm spin off project which was founded at Notre Dame by Lee Svete (the Director Career Services), Dr. Charles Crowell (the Director of the Computer Applications Department), Mark Bennett (former Entrepreneurship Society Co-President), and other key leaders including Kevin Marvinac, Philip Pezza, Camila Bernal, and Cecilia Navarro. While it took several years for the action plans to be implemented, the successive Co-President and Chairman of the Entrepreneurship Society, Michael Streit, led a coalition of students, faculty members and organizations to win a regional SIFE championship in its inaugural year.
The SIFE team consisted of members of three of Notre Dame’s most impactful and socially-conscious clubs - the E-Society, GreeND (an environmental awareness group), and the Student International Business Council (another undergraduate business club). Together, they presented projects that the team had worked on for the previous year. The regional victory was an impressive feat - SIFE liaison Jonathon Kropf, a several-year employee of SIFE, said he had never seen a rookie club win the award in its first year. The SIFE victory cemented cross-club relationships that will allow for increased collaboration and innovation in the future.
SIFE (Students In Free Enterprise)
University of Notre Dame SIFE TEAM Wins Regional Competition
On March 24, 2010, the inaugural University of Notre Dame SIFE (Students in Free Enterprise) team competed at the SIFE USA Regional Competition at the Renaissance Cleveland Hotel in Cleveland, Ohio, where they were awarded both Rookie of the Year and Regional Champion (League #4) titles. The event was one of 12 SIFE USA Regional Competitions being held across the United States in March and April.
The University of Notre Dame SIFE program is one of more than 500 SIFE programs in the United States. Participating students use business concepts to develop community outreach projects that improve the quality of life and standard of living for people in need.
SIFE is an international non-profit organization that brings together the top leaders of today and tomorrow to create a better, more sustainable world through the positive power of business. Founded in 1975, SIFE has active programs on more than 1,500 college and university campuses in 40 countries. Through projects that improve the lives of people worldwide, the university students, academic professionals and industry leaders who participate in SIFE are demonstrating that individuals with a knowledge and passion for business can be a powerful force for change. For more information, contact SIFE World Headquarters at 417-831-9505 or visit www.sife.org.
The Venture Capital Division
The Venture Capital Division is the youngest division of the Entrepreneurship Society, but looks to be gaining traction and strength. There have been several dinners and Skype Sessions with Venture Capitalists, and beta testing on new "Pitch" competitions that are becoming increasingly popular, with Professors and executives judging. Some have projected the Venture Capital Division as the next "Social Entrepreneurship and Consulting Arm" of the Society - in that a new incubated division could spawn growing success to the point where it had a notable tradition itself, much like how the Case Bowl has developed over three years and now the Social Arm is developing.
The E-Magazine
The E-Magazine is another young division of the Entrepreneurship Society looking to gain traction. While it is a work in progress, the idea to have a magazine for young entrepreneurs is one that is interesting and has potential.
Strategic Alliances
IrishAngels
Mike Vogel, an IrishAngel, is quoted as saying, “I applaud the Entrepreneurship Society and its leadership team on breaking through the clutter of so many events on campus and getting so many students involved or attending the events…being able to have new, young students excited about business and entrepreneurship is super.”

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