Sometimes a great idea is enough, but often entrepreneurs need a little help to keep the lightbulb lit. They need a business plan, financing, advice and encouragement, which is why the Williams College of Business created Xavier-Launch-a-Business—or X-LAB for cleverness.
Designed as a competition, entrepreneurs compete to convince X-LAB judges that they have an idea worthy of winning. The five winning ideas receive as their prizes guidance and the brainpower of the college’s 65 faculty members, 1,000 MBA students, 500 executive mentors and 14 members of the executive advisory board. In less than a month, more than 150 entrepreneurs applied for the five slots. Xavier, meanwhile, gets to help boost the local economy. The ultimate goal: make the business succeed. When that happens, everybody wins.