ENTERPRENEURSHIP AT THE CARUTH INSTITUTE

Welcome from the Director

The Caruth Institute for Entrepreneurship was founded at SMU’s Cox School of Business in August 1970, one of the first university-based entrepreneurship centers in the United States. As a student, then an employee, and now director of the Caruth Institute, I have witnessed tremendous changes in entrepreneurship education. I am both honored and thrilled to have been part of the university educational movement known as entrepreneurship for more than three decades.

In 1970, there were few entrepreneurship textbooks or case studies, no models of how a center should be organized or run, and no real guidelines for curriculum. Early pioneers such as Jeff Timmons, Karl Vesper, Bob Brockhaus, and John Welsh (my mentor) worked tirelessly to define the discipline of entrepreneurship, defend its existence in the academy, found relevant journals, and develop educational materials.

W.W. Caruth, Jr. was one such visionary. The Dallas real estate legend and business pioneer founded the Caruth Institute on the belief that individuals are never too young or too old to start their own business. Not long after the Institute was founded, John Welsh, director from 1970 to 1988, and I wrote two books – Administering the Closely Held Company (Prentice Hall) and The Entrepreneur’s Master Planning Guide (Prentice Hall) – so we would have appropriate materials to teach in our Starting a Business certificate course, which has been offered three times a year since 1972 to more than 7,000 practicing and aspiring entrepreneurs.

The Caruth Institute today offers an extensive array of classes, special programs, and resources, including:

• 15 graduate courses.
• The Cox MBA Venture Fund.
• Business plan competitions for full-time MBAs and Executive MBAs.
• The Southwest Venture Forum.
• The Dallas 100TM Awards.
• Undergraduate and graduate entrepreneurship clubs.

From our humble beginnings as a small office operation, the Caruth Institute has grown to keep pace with the burgeoning field of entrepreneurship. With more universities introducing entrepreneurship programs and existing programs launching innovative offerings ranging from student venture funds to elevator pitch competitions, the future of entrepreneurial education appears very bright. As the Caruth Institute evolves, we will continue to remain steadfast to our original mission: to ensure that aspiring and practicing entrepreneurs receive the education and skills they need to succeed.

Jerry F. White