An Engaging Prospect: U of M’s Carlson School’s chapter of Net Impact secures grant to promote small business in Minneapolis’ Cedar Riverside neighborhood
Contacts: Dawn Skelly, Carlson School of Management, (612) 624-8770
Ryan Mathre, University News Service (612) 625-0552
MINNEAPOLIS / ST. PAUL ( 3/12/2008 ) --Minneapolis’ Cedar Riverside neighborhood has morphed many times in the last century to its current status as one of the largest Somali enclaves in the U.S. It is also home to the University of Minnesota’s Carlson School of Management, a top ranked business school. Increasing the Carlson School’s community engagement is what drove Ben Schein to apply for a seed grant that will help the school build stronger relationships and trust with this vibrant community.
Schein is a second year MBA student and president of the Carlson School’s chapter of Net Impact, an international network of MBAs committed to socially responsible and sustainable business. Schein applied for and received a $5,000 grant from the University of Minnesota's Office for Public Engagement.
The Carlson School’s chapter of Net Impact has worked with other community oriented MBA student groups to form a Community Impact Alliance dedicated to having a positive impact on the broader community. In recent years, the Carlson School has also developed increasing expertise and programs around entrepreneurship such as the Carlson Ventures Enterprise and the Gary S. Holmes Center for Entrepreneurship. Schein feels this entrepreneurial focus creates potential synergies with the many small business entrepreneurs in the Cedar Riverside neighborhood.
The seed grant will allow the Community Impact Alliance to create the Carlson Community Small Business Fellows program where MBA and potentially undergraduate students will learn about a specific small business in the immediate community and consult with the business to address key challenges. The end product of the grant will be a booklet of formal case studies on the selected small businesses and a planned community forum to discuss the challenges the businesses are facing.
Schein hopes this process will help the Carlson School become a center for research and understanding of community businesses and especially the immigrant business experience. He feels the Cedar Riverside neighborhood is an incomparable asset. “This opportunity can create a competitive advantage for the Carlson School as a place that can engage and learn from its community from a business perspective,” said Schein.
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