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Business Incubator Opens for Entrepreneurial Students at Cornell University

Ithaca, N.Y. (PRWEB) April 10, 2008 -- The Student Agencies eLab, a not-for-profit business accelerator for Cornell undergraduate entrepreneurs, is opening today in the Student Agencies building at 409 College Ave.

Student Agencies developed the eLab in collaboration with Entrepreneurship @ Cornell. The eLab will help high potential entrepreneurs to take their business to the next level by providing them with the services, mentorship, and environment that they need to maximize what for many will be a first entrepreneurial experience.

"The eLab is designed to help students build successful businesses and to provide them with a solid foundation that will enhance their likelihood for entrepreneurial success in the future," said Dan Sommer '97, chairman of the eLab Advisory Board.

The eLab effort will be directed by Dan Cohen, eLab's Entrepreneur-in-Residence and a faculty member in the School of Industrial and Labor Relations, who was co-founder and president of his own business for 15 years, while earning MBA and Doctor of management degrees. He taught business strategy and entrepreneurship and also assisted with the student business incubator at the University of Iowa before coming to Cornell last fall.

"It's exciting to help these students take their ideas from inception to a company ready to launch," Cohen said.

Cohen will recruit student entrepreneurs and an array of alumni mentors, manage fund-raising efforts and provide daily guidance to students.

"There is a wealth of Cornell alumni who want to be involved - so many that we can offer students mentors on an industry-specific basis," Cohen said.

The eLab is supported by Student Agencies Foundation, the Leland C. and Mary M. Pillsbury Institute for Hospitality Entrepreneurship and a group of dedicated Cornell alumni.

"Almost a year ago President Skorton asked me why Cornell did not have an incubator to support undergraduates interested in developing their business ideas," said John Jaquette, executive director of Entrepreneurship @ Cornell. "My answer was that the time was certainly right to do it. The board of Student Agencies, Inc. took up the challenge and with the support of the Advisory Council and Governing Board of Entrepreneurship @ Cornell, we worked together to develop this new resource for Cornell students."

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