While the domestic application deadline is February 28, the international application deadline is a month earlier on January 27.

UW Foster says the graduate-level program focuses on the core foundations of business. The courses are centred on the entrepreneurial process and lean thinking—the elements th will make you a better entrepreneur.

The participants would be able to avail of connections and advice from leading Seattle entrepreneurs and investors. You will also be working with the School’s best entrepreneurship faculty and startup lecturers besides connecting with the Buerk Center for Entrepreneurship’s resources and competitions. A core group of Seattle entrepreneurs will be the mentors and you will have access to venture capitalists, angel investors, and attorneys

While the domestic application deadline is February 28, the international application deadline is a month earlier on January 27.

Who is the Program Meant For?

The program is for people who have an idea that they are passionate about validating and developing. The participants may be drawn from a college senior in engineering, arts and sciences, or informatics with a real drive to bring an idea to fruition or someone with 5–10 years of experience in a company or startup and now ready to invest in the startup of your own.

You, as a participant, would learn, among other things, the difference between a good idea and great business, about finding a market gap that people will actually pay you to solve.

You would also learn how to quickly test your idea without expending large sums of money, pricing the product, hiring the right type of people and managing the startup funds.

You would also be made aware of the common challenges that bedevil startups and how to avoid them besides dealing with and benefiting from competition.

Admission Criteria

Applicants must have completed the equivalent of a four-year U.S. bachelor’s degree from a regionally accredited college or university. The minimum GPA is 3.0 for the last 90-quarter or 60-semester credits. Studies conducted outside of the U.S. do not need to be converted to a four point scale, but transcripts should be translated to English.

Application Process

You must create your online application profile via the UW Graduate Admissions website. After creating your profile, you will be asked to select program information. Select your application type: “Graduate”and program: “Business Administration – Foster School of Business – MS in Entrepreneurship”. Indicate your desired entry date (e.g. Summer 2017).

Next is a Personal Statement (750 words maximum) to describe your past entrepreneurial experience and the factors that have influenced your decision to become an entrepreneur.

Two short essays of 500 words each are to be submitted. In the first essay. You have to describe the 5 to 7 skills/traits you think an entrepreneur must have and then rank yourself (1-5, with 5 being high) against that list. You also have to give a brief explaintion why you gave yourself that score.

For the second essay, you have to choose one of these 2 questions: What company, currently in existence, do you wish you’d started? Why? Or what problem that currently exists in the world would you most like to solve? How would you begin?

Next is creating a short video (60-90 seconds) to answer one of these questions: What’s unique about you? Would you rather be lucky or smart? Are entrepreneurs born or made? And which one are you?

Then there is the resume. It should be a complete summary of your education, key student activities, and professional work history (if applicable) in reverse chronological format. You have to submit a copy of the unofficial transcripts along with the on-line application.

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The GMAT or GRE are not required for applicants with an undergraduate degree or higher. However, individuals with scores from 2012 or later may choose to submit them for admission consideration. A GMAT/GRE score, or lack of a GMAT/GRE score, will neither be an advantage nor a disadvantage.

A non-refundable application fee of $85 must be paid by credit card through the online application system.

For applicants whose complete application, including all supplementary materials, is submitted by the application deadline, an admissions decision will be provided in March 2017 (date to be determined). All communication regarding the status of your application, including admission decisions, will be through email only.

The total tuition for the program is $24,900 for residents and $38,900 for non-residents. Tuition payments are paid quarterly and due by the Tuition/Fee Assessment Deadline. Admitted students are required to pay a $1,500 non-refundable and non-transferable tuition deposit. This deposit is applied to your summer quarter tuition balance.

(Image Source:flicker)

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Adams’ mother used to make the golden brown caramels as a special treat during the holidays. The secret recipe has been with the Adams family for generations and during a winter break, he learnt how to make the caramels himself.

Adams told The Daily of the UW that he sent the caramels to the owner of a company he had worked with in summer. The owner later told him that the caramels proved so popular that workers kept coming back to his office to take them.

The favourable response as well as knowledge derived at an entrepreneur class inspired Adams and Bircher to develop the idea and create a company to make and market the caramels.

“In a normal class, you do mini projects, but in this class, it’s for real,” said John Hansen, lecturer of the entrepreneurship class. Students are really learning about the issues of manufacturing, packaging, pricing, and customer satisfaction, he added.

Adams and Bircher also presented the idea, after months of deliberations and fine-tuning to investors at the Arthur W. Buerk Center for Entrepreneurship. The Center is part of the Foster School of Business and funds opportunities for students to receive entrepreneurial and marketing experiences.

The company is being run on non-profit lines, with all profits going to the Center. The company has been named Softgold Caramels, drawing from the caramel’s golden colour and its softness.

Unlike the grocery store brands, these caramels contain less preservatives and have a shelf like of three weeks. They are also non-sticky and made with high-quality ingredients, like Himalayan salt and pure vanilla extract.

The caramels production take place on weekends, early in the morning at the commercial kitchen of a student housing center. The cooking takes about 90 minutes and involves a process of melting down the secret ingredients and stirred at a specific temperature. Once ready, the mixture is poured into baking dishes to set.

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The following day, they spend an additional five hours carefully cutting the caramel into squares. Each piece is individually wrapped by hand and packaged to be delivered to the University Book Store and Chandler’s Bay Market & Deli in Kent.

The caramels have proved to be a hit. At present, they are cooking and packaging about 300 caramels a week to meet the demand from local retailers and customers. “I think we need to find a way to make the process more efficient so that we can scale-up and meet the demands of our customer base,” Bircher said.

The company is an all-around student effort. Its logo was created in collaboration with UW School of Design student Natalie Huang, who said that she created a simple and classic logo design. Since the caramels were

home made and a luxury, she says she used a colour palette that is gold like the caramel itself and typography that delivers an elegant feeling.

Adams proposes to eventually expand the company beyond local retailers and customers into the broader market. (Image Courtesy : commons.wikimedia.org)

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