VIDEO: UD expands entrepreneurial experience

The University of Delaware is taking entrepreneurship to a whole new level.

WDEL's Amy Cherry explains.

Many say a vibrant network of entrepreneurs is key to creating jobs.

That's why the University of Delaware will take a $3 million gift from alum and entrepreneur Charlie Horn and establish a creative program in his name.

"We have a great new startup experience that is going to allow any student on-campus to try to conceive, validate and launch a high-growth potential venture," says Dan Freeman, director of the Horn Program in Entrepreneurship.

Freeman says they'll expand the Venture Development Center to help students foster their ideas.

"Validate their ideas about who the customer is, what their problem is, what the solution needs to look like before they waste a lot of time, and potentially money, developing that solution, that as it turns out, nobody in the market might want," explains Freeman.

As proven by Horn's generous donation, Freeman says UD's entrepreneurial community is more than willing to work with students and their ideas.

"Most likely, the problems that you encounter in trying to build a business, somebody else has had that problem before and can probably help you to overcome it much more quickly than you could on your own," says Freeman.

Students will also learn how to deliver their elevator pitches in 60 seconds while building a tolerance for risk.

"The best entrepreneurs are those that aren't afraid to fail and use failure as a teachable moment," Freeman says.

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