This fall, the UIC Institute for Entrepreneurial Studies will begin a year-long celebration of its 25th anniversary -- a milestone shared by its founder Professor Gerry Hills. In fact, the history of the IES is a virtual litany of Hills' contributions to the field of entrepreneurial research and education at UIC - one that now distinguishes the university's entrepreneurial studies programs as among the most highly regarded in the nation.
The Institute was founded by Hills in 1982 when he accepted an offer to be the Coleman Chairholder in Entrepreneurship at UIC. The Coleman Foundation, tied to the Fannie May Candy Company, donated $1 million to establish what is now the nation's second oldest chair in entrepreneurship.
Hills' entrepreneurship career began by responding to opportunity. "Two things happened to shape the direction of my work," he says. "First, my former doctoral advisor at Indiana invited me to head up a national American Marketing Association effort to assist minority business owners. Second, a group of students approached me requesting the opportunity to earn course credit by doing project work for three entrepreneurial businesses. Through those experiences, I developed a deep appreciation for the significance of new businesses in the American economy. I also realized this was an area that was not being explored in academia."
"By the time I saw the announcement for the chair position, I was fervently committed to the study of entrepreneurship," notes Hills. "When I accepted the position, I thought I would stay for three to five years and then move on. But the fact is I am here today because, for 25 years, I have truly loved my work."
Through Hills' guidance, and the continued generosity of the Coleman Foundation, IES has expanded in scope and depth with innovative programs serving students, business owners and the international research community. UIC was one of the first universities to offer an MBA concentration in entrepreneurship in addition to its PhD programming. The university also recently introduced an undergraduate major in entrepreneurship. And, focusing on real-world business education, the IES and the Center for Urban Business have helped match more than 1,000 CBA student teams with area businesses for project-based learning. In 2005, thanks to the leadership of Professor Rod Shrader, IES launched the cross-campus Concept2Venture business plan competition. Through the C2V, UIC students have successfully created viable new ventures and gained international recognition for their achievements on the competition circuit. Hills believes the growth and success of the program is due, in large part, to the university's outstanding entrepreneurship faculty.
As the founder of the Collegiate Entrepreneurs' Organization, Hills has overseen the establishment of 127 CEO entrepreneurship student clubs nationally. He is helping to spearhead the effort to create a UIC entrepreneurship residence hall where like-minded students can live with, and learn from, each other. He also founded the Chicago Area Entrepreneurship Hall of Fame, which recognizes notable entrepreneurs who have made significant contributions to local business. In the research arena, IES sponsors the annual Research Symposium on Marketing and Entrepreneurship, bringing together top academics from around the world to share their research in this burgeoning field. The symposium, notes Hills, further establishes UIC as a leader in entrepreneurial education and the creation of new knowledge. "The ideas that come out of this annual symposium are having a true impact on the way marketing and entrepreneurship will be taught in the future," he says.
As for reflections on his own 25th anniversary with UIC, Hills notes, "Entrepreneurship has taught me a lot about the value of having passion for your work. It is exciting to be around new ideas, watching them grow from the ground up, knowing the positive impact they may some day have on UIC, business and society. I am grateful for the vision of UIC and the dean of the business school in recognizing the significant role entrepreneurial studies play in the college's curriculum, and I am honored to have had this chance to help see that vision realized."
