Dr. Bruce M. Firestone, Entrepreneur-in-Residence at the Telfer School of Management, University of Ottawa, believes there are some important bootstrapping elements to be included in an undergrad entrepreneurship program at any major university.

Obviously, in my opinion, we can always use more of these though even here in Pennsylvania in the United States such programs are not completely unheard of.

"Virtual CEO" Randy Komisar gives this overview of what an entrepreneurship program can accomplish in an interview with iinnovate.

But also in a recent post at his personal website The EQ Journal Blog, Firestone recommends:

The new Institute would focus on non VC-funded ventures and enterprises, which form the bulk of new startups in Canada and around the world. This would not preclude the teaching of or research in the field of Angel-funded or VC-funded startups but that would not be the main focus on the new Institute or the undergraduate Concentration or Option.

He further advises anyone developing such a program to:

Develop an annual Bootstrap Awards program to reward the best startups, the cleverest guerrilla marketing, the most unique source of bootstrap capital, the greatest new idea for adding differentiated value, the best new business model, etc.

Though Firestone recommends any university trying to launch such a program will likely need to raise at least $5 million before even getting started, I can't help wondering if there might be ways to bootstrap the effort as well.

Here are some thoughts that I've been mulling over for some time:
• Build an on line component first including blog, social network etc. to provide resources and create buzz for the idea.
• Create an on line donation component and perhaps some other revenue generating efforts like fund raisers on line to raise money for the project.
• Use the initial money raised to fund a series of community forums featuring top notch guest speakers and seek media attention as well as covering the events on line.
• Use the events to raise further funds for future undertakings and to promote the efforts to begin funding classes.
• Create a limited night course series or other program with funds raised and use tuition to slowly grow the program.

Check out this project to partner with high school students in an effort to teach entrepreneurship while launching a brand.

Other thoughts or comments? Leave them below or link to this site and contact me and I will return the link.