There is a new housing opportunity for students interested in starting their own businesses called the Entrepreneur House.
The Ohio State Business Builders Club has organized a living-learning program designed to give students interested in entrepreneurialship an opportunity to live together.
The house will be located at 1972 Indianola Ave. and will be equipped with amenities such as a conference room, library and high-speed Internet access in every room.
The idea for the Entrepreneur House came from a similar program at the University of Maryland, said Doug Hange, vice president of the Learning Life Center at OSU.
“Maryland actually has a dorm called the CEO dorm houses where about 100 students live,” Hange said. “Eventually, we would like to also have a dorm dedicated to entrepreneurship, but right now we are just going to see how the house works out.”
Students living in the house will benefit from a variety of activities that focus on starting a business. Residents will have the chance to participate in private seminars and get advice from business owners through the house’s mentoring program.
“The house will play host to private Business Builders Club events targeted at the house’s residents,” said Nathan Hurd, marketing director for the Business Builders Club.
“We hope to provide experience in entrepreneurship that residents might not otherwise have obtained while attending school,” Hurd said.
In addition to the planned activities, students will also be working together to submit an entry in the Deloitte and Touche Business Plan Competition.
The competition, held every year through the Fisher College of Business, consists of participants developing a conceptual business plan and then presenting it to local entrepreneurs.
“Many of the past winners have gone on to actually start the business that won them the contest. We would like to be a contender in this year’s competition,” Hange said.
Five of the eight residents of the house have already been selected, but there are still two spots remaining. Students who are interested in living in the Entrepreneur House next year are encouraged to fill out an application in room 255 of Schoenbaum Hall.
“There’s going to be such a diverse group of people living in the house. Hopefully, this will help to provide a better perspective on business ideas,” said Ryan Mapes, a junior in finance and future resident of the Entrepreneur House.
“I am planning on starting a company with my brother, so this is going to be right up my alley,” he said.
There are qualifications applicants must meet in order to be considered for the program.
“Ideally, we would like people who are passionate about entrepreneurship,” Hange said. “Applicants must be at least 18 years old with a GPA of 2.5 or above. We also require that they are full-time students at OSU with at least three quarters of classes left.”
Students accepted into the program will have to sign a lease agreement and pay $425 a month for rent.
“The rent is a little higher than normal rent, but there is a lot of added value to living here,” Hange said.
