The University of Chicago New Venture and Small Enterprise Lab at the Booth School of Business

Client applications are now being accepted for the 2015 New Venture and Small Enterprise Lab at the University of Chicago Booth School of Business.

The New Venture and Small Enterprise Lab at the University of Chicago Booth School of Business places teams of four to six MBA students with Chicago-area startups and small businesses to work on a special project over a 10-week quarter. The class gives students exposure to the working environment and culture of smaller companies and the opportunity to work with owners and managers while earning academic credit towards their MBA.

Client companies get to tap the talent and expertise of Booth students through a structured, 10-week class after which they will receive a delivered project addressing their specific business challenge. Past projects have included marketing strategies, sales programs, client assessment tools, investor packages, pricing strategies, developing new markets and even customer-service dashboards.

This course offers a blend of theoretical constructs and practical experience as they relate to emerging businesses through classroom lectures and on-site client experiences. It is taught twice during the 2015-2016 academic year. Once in the Fall quarter starting in late September and once in the Winter quarter starting in January.

If you are interested in learning more about becoming a client company for the University of Chicago New Venture and Small Enterprise Lab please visit www.34701.org and complete a client application.

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Stalled since 2007, the Santiago Calatrva designed Chicago Spire might finally rise 2000 ft out of the ground to take the title of tallest building in the Western Hemisphere and the U.S. The Spire entered receivership in 2010 and in 2013 a U.S. Bankruptcy Judge ruled that Shelbourne North Water Street LP has until March 2014 to put together a reorganization plan. In a potentially positive development, the purchaser of the project’s delinquent debt, RMW Acquisition Co. LLC (Related Midwest), has agreed to provide Shelbourne $1 million in bankruptcy financing. If the U.S. Bankruptcy Court approves Shelbourne’s March proposal, construction of the tower could resume immediately.

Although the Chicago Spire’s foundation work is complete, completing the Chicago Spire may cost in excess of $1 billion. That number previously meant that the 1,193 units in the tower would have to sell for at least $2,000 a square foot to be profitable. However, now that Related is involved in the project an apartment element could be implemented into the design. Texas-based Atlas Apartment Holdings LLC has also expressed interest in providing financing for an apartment element of the project. As of June 2008, Shelbourne had contracts for more than 350 of the 1,193 units, including a $40 million contract for the building’s penthouse with billionaire Beanie Babies founder, Ty Warner.

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