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Alumni, scholars to share success stories of entrepreneurship

The state of entrepreneurship in the 21st century, from globalization to the dominance of intellectual capital, will be the topic of discussion tonight at 7 p.m. in McCosh 10.

The Forum on Entrepreneurship: Progress, Problems, Prospects, Policies will present a panel of University alumni who have founded and operated new enterprises.

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Mahlon "Sandy" Apgar, a visiting professor in the Program in American Studies and the Wilson School, is currently teaching a new course titled AMS 314/SOC 315: Entrepreneurship in America. High student interest in the course prompted Apgar to organize the forum.

"[The] forum was inspired by students in my class who observed that they . . . have little exposure on campus to coursework on the contributions and creative aspects of entrepreneurs and the new enterprises they launch," Apgar said in an e-mail.

Apgar said students are especially intrigued by the subject of entrepreneurship "because of career interests and the large number of [University] alumni-entrepreneurs who have achieved distinction in many fields."

According to American Studies program director Sean Wilentz, who aided Apgar in organizing the forum, entrepreneurship is an important issue in students' lives.

"Students, like the rest of us, are bombarded with myths and fantasies about entrepreneurship, some pro and some con," Wilentz said. "No one could deny that entrepreneurship is a crucial aspect of American business. The forum will . . . help those who attend to distinguish fact from fancy about entrepreneurial businesses."

Wilentz said the forum was planned long before the current economic downturn, but that "the topic of entrepreneurship is of perennial importance."

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He said he hopes current recessionary conditions will serve to highlight both the difficulties and the opportunities that entrepreneurs now face and have faced in the past.

The forum, according to Wilentz, will cover "the evolution of entrepreneurial strategies in both the public and private sectors over the tumultuous past three decades."

"No one can deny that entrepreneurship has long been a vital aspect of American economic and social life," Wilentz said. "On the whole, American studies programs around the country have slighted this, as they have slighted business generally. At Princeton, we take the whole matter more seriously, in all sorts of ways."

The posters advertising the forum scattered throughout campus ask in bold letters, "Do you want a job?"

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According to Apgar, many people have both the quality and the skills to be successful entrepreneurs, but do not know much about what entrepreneurship is.

"[The forum is] an opportunity for students to learn from Princeton alumni that are successful in entrepreneurship what hurdles they overcame, how they did it and what guidelines they have for students that are interested in entrepreneurship," Apgar said.

Apgar said the panel will include a venture capitalist, four practicing entrepreneurs and the leading academic expert in the country on the subject.

He said the forum will be wide-ranging in scope, "from how you think about an idea that could be a new business, to where you find the capital, to how you organize and find the people and the expertise to help you and how you can sustain a new enterprise and watch it grow."

According to Apgar, some University alumni are among the most distinguished entrepreneurs in the country, despite the absence of a University business school.

"My hope is that this event will increase awareness of students and also members of the faculty and leaders in the Princeton community," Apgar said. "I hope this will jump-start a broader-based Princeton initiative in entrepreneurship."

Speakers at the forum will be Dixon, Bonsal, Harvard Business School professor William Sahlman '72, founder and CEO of Prospect Technologies William Lewis '71, founder and former CEO of Resounding Technology Adam Frankl '86 and Exchange.com founder and former CEO Stig Leschly '92.