The University of Maryland ranks among the top five universities in the nation for fostering entrepreneurship among students, according to rankings released today by The Princeton Review and The Princeton Review. entrepreneur magazine.
UMD ranks No. 5 among all institutions (up two spots from last year), No. 4 among public universities and No. 1 in the Mid-Atlantic region on the 2024 Annual List of Undergraduate Entrepreneurship Programs. This marks the ninth consecutive year that the University of Maryland has ranked in the top 10. The university also jumped from 18th to 13th place for graduate entrepreneurship education.
Dean Chan, UMD's chief innovation officer, said the university's rise to the top of entrepreneurship rankings is due to its broad and robust innovation and entrepreneurship ecosystem across campus. .
“The University of Maryland stands out because it consistently offers students of all majors the opportunity to learn and practice innovation and entrepreneurship skills and apply them to creating solutions to society's great challenges. That's what we're doing,” Chan said. “It’s great to see our University of Maryland break into the top five.”
While many entrepreneurship rankings focus solely on a university's business school, The Princeton Review reflects the entrepreneurship ecosystem across university campuses, including academic offerings, mentorship, competitions, We analyze various factors such as programs, centers, and faculty support.
Nearly one in four undergraduates in 89 majors, or more than 7,000 students, are enrolled in UMD's undergraduate entrepreneurship courses, taught by 59 faculty members across 30 departments. Beyond traditional entrepreneurship, UMD also offers his more than 100 courses in innovation-related areas such as creativity, entrepreneurship, social value creation, business models, and design thinking.
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A recent high-profile example of the university’s commitment to student entrepreneurship is the new xFoundry@UMD. This is an XPRIZE-inspired initiative aimed at recruiting and training Terps to work across disciplines and build solutions designed to address complex global problems. .
Amir Ansari, who oversees xFoundry as co-founder and executive director of UMD, said: “We want our students to start their careers by doing something important to society while at the same time becoming profitable, independent and successful. “We want them to know that they can also create business ventures.” EA Fernandez IDEA Factory is his high-tech workshop focused on collaboration between all 12 of his schools and colleges on campus.
From the academic department's Academy of Innovation and Entrepreneurship, to the Dingman Entrepreneurship Center at the Robert H. Smith School of Business, to the Maryland Institute of Technology and Enterprise (Mtech), Chan said. The academic department is said to have helped UMD achieve high ratings across the board. ) from the A. James Clark School of Engineering to the Do Good Institute at the School of Public Policy. Meanwhile, financial aid and scholarships, such as those awarded through the Southern Management Leadership Program, which provides tuition funding to transfer students at diverse community colleges, are another important criterion. Additionally, student-led innovation programs such as Startup Shell, Bitcamp, and Technica are also key factors that differentiate UMD.
It also doesn't hurt that the university boasts an impressive list of alumni who went on to launch highly successful business ventures. These include Google co-founder Sergey Brin '93 and Squarespace founder and CEO Anthony Casalena '03. Kevin Plank '96, Founder, Executive Chairman, and Brand Chief of Under Armor.
“We are proud of the reputation we have for graduates who launch multibillion-dollar startups, or unicorns, and apply entrepreneurship to create economic and social impact. We are even more proud of our focus on social innovation and entrepreneurship, which are important drivers for the participation of so many students,” said Chan, adding that the university’s Grand We highlighted our Challenge Grants program and our annual Do Good Challenge.
Many of the same efforts that helped move UMD closer to the top of the Princeton Review's rankings helped the university recently earn the Innovation and Economic Prosperity designation from the Association of Public and Land-grant Universities (APLU) for the second year in a row. I also contributed to what I did. According to APLU's website, it is an institution that has “demonstrated a substantial and sustainable organization-wide commitment and strategy for local economic engagement, growth, and economic opportunity.”
“The university's strategic plan prioritizes efforts to foster innovation, entrepreneurship, and inclusive economic development, all of which are supported by APLU and the Princeton Review,” said Gregory F. Ball, vice president for research. This was an important factor in receiving praise from both parties.” “So many people on campus are worthy of admiration, and we should be extremely proud to work at a university that prioritizes ingenuity and creativity in everything we do.”