The University of Maryland has recently made a significant leap in the rankings for fostering student entrepreneurialism, landing in the nation’s top five colleges in this category. This achievement, as highlighted by The Princeton Review and Entrepreneur magazine, is a testament to the university’s commitment to providing a robust innovation and entrepreneurship ecosystem that spans across its campus.
Dean Chang, UMD’s chief innovation officer, attributes the university’s success in this area to the continuous expansion of opportunities for students from various majors to learn and practice innovation and entrepreneurship skills. This approach allows students to apply these skills towards creating solutions for society’s grand challenges, showcasing the university’s dedication to nurturing a culture of innovation and problem-solving.
Unlike many entrepreneurship rankings that focus solely on a university’s business school, The Princeton Review takes a holistic approach by evaluating a university’s campuswide entrepreneurship ecosystem. Factors such as academic offerings, mentorships, competitions, programs, centers, and faculty support are all considered in determining a university’s ranking.
At the University of Maryland, nearly one in four undergraduates are enrolled in entrepreneurship courses across 89 majors, taught by a diverse group of faculty members from 30 departments. The university also offers a wide range of courses in innovation-related areas such as creativity, entrepreneurial mindset, social value creation, business models, and design thinking, further enriching the entrepreneurial education experience for students.
One of the university’s recent initiatives, xFoundry@UMD, exemplifies its commitment to fostering interdisciplinary collaboration and addressing complex global problems through entrepreneurship. This XPRIZE-inspired program aims to recruit and train students to work across disciplines and develop innovative solutions that have a positive impact on society while also being financially sustainable.
UMD’s success in entrepreneurship education is further bolstered by its academic units, such as the Academy for Innovation and Entrepreneurship, the Dingman Center for Entrepreneurship, the Maryland Technology Enterprise Institute (Mtech), and the Do Good Institute. These units provide essential support and resources for students looking to pursue entrepreneurial ventures and make a meaningful impact in their communities.
The university’s emphasis on social innovation and entrepreneurship is reflected in initiatives like the Grand Challenges grants program and the annual Do Good Challenge, which encourage students to apply an entrepreneurial mindset to create economic and societal impact. This focus on social entrepreneurship sets UMD apart and underscores its commitment to fostering innovation for the greater good.
In addition to its academic achievements, the University of Maryland has also been recognized for its regional economic engagement and commitment to innovation, earning its second consecutive Innovation & Economic Prosperity designation from the Association of Public and Land-grant Universities. This recognition further solidifies UMD’s position as a leader in fostering entrepreneurship and driving economic growth in the region.
Overall, the University of Maryland’s climb to the top five colleges for student entrepreneurialism is a testament to its dedication to providing a comprehensive and supportive environment for students to cultivate their entrepreneurial skills and make a positive impact on the world. With a strong focus on innovation, creativity, and social entrepreneurship, UMD continues to empower the next generation of entrepreneurial leaders and change-makers.
