What prompted you to return to school to achieve your MBA?

While finishing my undergraduate degree, I was constantly working and did several full-time internships. Through these experiences in the business world, it became apparent to me that I wanted to expand my horizons and gain deeper knowledge about business.

What was the most important factor for you in choosing an MBA program in the United States?

Back in Germany I was looking at many different programs in Europe and the US, but in the end decided to pursue my studies in America because I believe the MBA program is something that has been established here for quite some time, whereas in Europe only a few schools have been starting to offer a two-year MBA program. Also the system here is more flexible and allows students to apply to the program even though their undergraduate major was not in business. What I really enjoy about the program here is that it is open to so many different students with a myriad of backgrounds, which makes the program and learning atmosphere even more interesting. In my first semester, I learned a lot from my professors but have also been benefiting from the experiences of my fellow students just as much.

Since you have started the program, what has been the most unexpected gain the program has given you?

The most unexpected gain has been maybe what I learned from my fellow students. One thing that struck me was their dedication and discipline, which has inspired me throughout the semester. I admire them for the time and effort they put into their studies while e.g. having a full-time job. Never before in my life have I worked in student teams that are so committed and who bring experiences from so many different places into one room, creating an entirely dynamic and innovative learning environment.

Which class/professor has been your favorite thus far and why?

I really do enjoy my Interdisciplinary Product development class, where I am working with a team that includes design and computer science students for a real client in the financial services sector. In my first semester, I have already learned so many things about teamwork, financial investments, corporate presentation skills and much more. I would recommend this class to every student!

I also took part in the Improvisation & Leadership class taught by Michael Popowits. It is a great class to take right at the beginning of UIC Liautaud MBA program because it teaches every student the fundamentals of business communications and interactions, such as networking and interviews, in such a unique way that it really sticks with the participants. You also learn a lot about yourself in this course and quickly discover areas in which you could benefit from additional professional development.  With the techniques I learned in this course, I learned about some excellent tools to further develop these areas throughout my time at UIC.

What is your favorite aspect of the UIC campus?

I like how the campus has so many different departments who are collaborating with one another and are doing really cutting edge, cross-disciplinary work together to make real life business ventures become reality. Students can take advantage of UIC’s innovative culture through courses like, the Technology Ventures program and Interdisciplinary Product Development. This willingness to cooperate throughout disciplines is a real competitive advantage to UIC and I feel that it is a very stimulating environment for every student.

What advice would you provide to prospective international UIC Liautaud students?

I would definitely advise them to put in as much effort and time as possible into their application, even though it might seem a lot to do, especially for students from European countries where the process is a lot different. In my opinion, every minute you dedicate to the application is worth it. My first semester here has been everything I hoped it would be and could not be happier with my choice.

Upon arriving on campus, I recommend interacting with fellow students as much as possible, since they are one of the biggest assets here at UIC, professionally and personally. Also taking part in social events and one of the numerous graduate business associations will familiarize new students with the mechanics of how the business world works and at the same time provide them with a network that will help them throughout business school and beyond.

If you are an international applicant or are considering applying, I recommend that you attend our online webinar on Tuesday, Jan 21th from 9.00 – 10.00 AM CST, to learn more about our graduate programs and the UIC Liautaud admissions process for international students. This session consists of a short presentation with our Director of Recruiting and Enrollment, Caroline LaTorre, followed by an open Q&A with participants.

The past several years have been a time of exciting change and transformation for UIC Liautaud Graduate School of Business, including a new dean, Michael Mikhail, the new Douglas Hall, the hiring of many additional faculty and career staff, and the start of our new Weekend MBA program. This year, we plan to continue this momentum as we launch a brand new program — the Master of Science in Finance degree (MSF) beginning Fall 2014.

Professional opportunities in finance are changing dramatically as technology has revolutionized access to information, speed of transactions and ability to gather and analyze data.  Our faculty emphasize innovative and developing areas of finance, including risk management, derivatives, corporate finance, portfolio management, banking and global financial markets, giving our students a first look at the newest insights and trends across the evolving financial landscape.

Highlights of the program include:

• Fast-paced and flexible: thirty-two credit hour degree program that can be completed in one year of full-time study (or more than one year of part-time study)
• Financial certification preparation: preparing students to pass key professional exams that measure the competence and integrity of financial analysts. Students will also be prepared for certifications in independent risk management and decision making. 
• Curriculum beyond the typical classroom experience: Chicago is a trading city. It is the birthplace of financial derivatives. UIC Liautaud leverages its strategic location by bringing industry leaders into the classrooms with unique courses that are not found elsewhere, like Market Microstructure and Electronic Trading, Meet the Exchanges, Commodities, Energy and Related Market, Theory and Structure of Options and Futures Markets, and many others.
•  CME Market Training Lab: our virtual electronic trading floor allows students to explore innovative trading strategies through technology that simulates trading floor dynamics. Our students use  Bloomberg Professional and other industry software  that make them marketable and job ready for finance careers. 
• International Center for Futures and Derivatives: brings to campus the who's who of financial trading and engineering from across the US and abroad to exchange ideas. Our faculty are creating new ways of thinking about how financial markets work, market structures, models of price discovery; limit order model, liquidity and price impact, time effects; and, how electronic traders use these ideas to improve trading and research.

If you are interested in the Master of Science in Finance degree, I encourage you to take the next step and sign up for one of our upcoming information sessions. I hope to see you on campus soon! 

This coming Wednesday, February 5th, UIC Liautaud will have a webinar about what life is like as an MBA student.  I will be moderating the discussion.  As I prepare for the event with my colleagues I realize just how quickly and significantly my life has changed over the past few months as I made the decision to pursue my MBA full-time.  In as much as life as an MBA will change you, challenge your perspectives and push you toward new success; getting to business school is its own journey.  It was not long ago that I was in your shoes, deciding if this was the time for me to go back to business school.  It was a very exciting, and albeit, a little stressful time.  Everything worked out better than I could have ever hoped for.  Receiving my acceptance into the UIC Liautaud Graduate School of Business, interviewing and being offered a Graduate Assistantship, and ultimately starting classes have all been very rewarding experiences. 

I enthusiastically believe being a graduate business student is one of the most worthwhile endeavors and greatest investments you can make in yourself.  Balancing time between classes, work, student organizations as well as networking opportunities is challenging – but well worth the effort.  Looking back at how much I and my classmates have grown professionally and personally since starting at UIC Liautaud just a few months ago, I’m very excited to see what these next semesters bring. 

I invite you to attend our webinar on Wednesday and hear from some of my colleagues as well as myself about our experience thus far as Liautaud MBA candidates.  

Reserve your spot here >>  http://go.uic.edu/studentwebinar

See you on Wednesday!

Michael

        Philippe Kirschey

        Full-time MBA Candidate 2015, Entrepreneurship and Management

        Undergraduate Degree: Mechanical Engineering

        Undergraduate School: Bergische University of Wuppertal, Germany

 

        Career goal: President of CENTA Antriebe Kirschey GmbH

 

        Organizations involved with: MBAA, Innovation Incubator                                  

 

UIC Liautaud recently partnered with UIC’s Office of Technology Management and IllinoisVENTURES to offer Science and Tech fellowships for MBA students. You were lucky enough to be one of the first fellows selected for this program. Can you tell us how this program works and what are some of the benefits you have gained?

I am participating in this fellowship while completing my MBA, providing a continuous real-world learning experience that complements my engineering background and my entrepreneurship concentration in the UIC Liautaud MBA program. As I have gained more experience in the program, I have gotten more involved in new venture  funding projects, providing me with unprecedented access to Chicago's high tech start-up community. 

 This fellowship has placed you at IllinoisVENTURES. Describe your work at IllinoisVENTURES?

Our work varies from project to project. Fellows are assigned to projects for the University of Illinois Chancellor’s Innovation fund; a fund dedicated to the early stage / pre-seed ventures that emerge from technologies researched at the University of Illinois. Typically we run due diligence on those companies and create a confidential memorandum for internal use. This memo includes analysis of the technology, intellectual property, competitive analysis and market analysis. We thoroughly evaluate the company and make recommendations to the IllinoisVENTURES board whether to invest in the company or not. Once we decide to invest we also provide help to bring those companies to the next level in their commercialization process. For example we use our extended network IV has established over the years to connect the companies to the right people that will help to further grow their business.

Can you tell us more about the types of interesting companies and projects you have you have worked on at IllinoisVENTURES?

Typically we work on projects that come from UIC research labs. UIC’s core competencies are medical technologies that will be used for medical treatment. Every now and then we also get technologies from the UIC research labs. These are usually engineering / software based technologies. One of the most interesting projects we were allowed to work on was for a company that combines screens or video walls (hardware) and its’ software to create highly customized and totally integrated visualization and collaboration systems. These range from a multimedia meeting room to 320 degree video caves that enable the use of 2D and 3D visualization.

In which area have you gained the most knowledge since working for IllinoisVENTURES?

I have an undergraduate degree in mechanical engineering from the Bergische University of Wuppertal, Germany. So I was confident in my ability to understand the technology related parts of our work from the very beginning. That being said, I was able to get a much deeper understanding of the business side of technology and the whole technology commercialization process. Also, it has been very helpful for me to learn the critical factors when deciding whether an early-stage company is promising or not. I definitely benefit from the knowledge of my colleague, Danielle Seger, and her venture capital background. We work together as a team very well and continuously teach each other.

 What do you think makes IllinoisVENTURES successful? (Entrepreneur Magazine names it on the national list of Top 100 Venture Capital firms)

IllinoisVENTURES positioned themselves in a very unique spot between the university and private industry, which gives them insights on early stage technologies other venture funds don’t have. This allows IV to do their job better and make smarter investment decisions. IllinoisVENTURES also has the advantage to use technology to cover more ground. It sources medical opportunities from its Chicago campus and technology opportunities from the Champaign campus. Beside the Chancellor’s Innovation Fund, IV has raised two private funds in the range of approx. $20 million each. This shows that people are willing to give money because they believe IllinoisVENTURES is able to invest the money and receive a good return on its investments. In private equity that’s what success is.

How do you think this fellowship has impacted and assisted you in your future career goals?

When I applied for the MBA, I had a vision – to learn the skills needed to function as a link between engineers and business managers. It becomes very obvious that both parties speak their own language and have their own core competencies. When both come together and understand each other, they become a very strong team that can be very successful. The work at IllinoisVENTURES gives me the opportunity to develop these skills. When we work on projects, we look at it from both sides - the engineering and the business side. We then try to translate both sides into a language everyone can understand, which then enables us to make sound decisions. This fellowship has also given me the opportunity to gain knowledge about how to assess new technologies and how to assist them on their way to commercialization. In the future, as I assume a management role in my family business, I will feel confident from the experience and skills gained at IllinoisVENTURES to make decisions about what emerging technology to focus on and which to discontinue.

Are you interested in the venture funding process and science & technology ventures?  Are you preparing for an MBA in Entrepreneurship and/or venture funding? If yes, you could be a candidate for the two-year fellowship offered by UIC Liautaud Graduate School of Business and IllinoisVENTURES. 

It is a great opportunity work with entrepreneurs and technical founders to build world-changing businesses with the potential to create new market opportunities or significantly expand existing ones. A tuition remission and monthly stipend in exchange for working 20 hours per week with UIC’s Office of Technology Management or IllinoisVENTURES  is part of the program.

Learn more about this exciting MBA funding opportunity at this weekend's UIC Liautaud Information Session on Saturday, February 8th! 

Can't make it to the session? Send us an email; and we'll get you connected to our Admissions Team at lgsb@uic.edu.

Since my first semester at UIC, I have heard nothing, but good things about Professor Michael Popowits' Improv and Leadership course. While I consider myself a somewhat outgoing person depending on the occasion, I knew that taking Improv and Leadership would only help me in increasing my level of comfort in dealing with social, and most importantly professional networking, situations.  

Going into my second semester, I wanted to make it a point to add MBA 590, Improv and Leadership, to my Spring 2014 schedule. When I sat down to create my Spring 2014 schedule, I realized I would have a conflict between MBA 590 and ECON 520; unfortunately ECON 520 won the conflict. I was disappointed, but we make difficult decisions all the time, so I knew I would have to get over it. Then the greatest thing occurred, during a meeting with Jeff Wilson, I mentioned the results of my scheduling conflict and he informed me that I may have another option available. It turns out, Professor Popowits teaches an undergraduate version, ACTG 420, of Improv and Leadership, and he holds about 5 seats in one of his undergraduate sections for graduate students.  

With this new information, I quickly emailed Professor Popowits to find out if any seats were still available, and there were! Needless to say, I registered as soon as possible. And, now I'm having a, "Have your cake and eat it too," moment.  

I would suggest to you, if like me you're faced with a similar scheduling conflict, to look into ACTG 420, you may also be able to have a, "Have your cake and eat it too," moment.  

If you're wondering if Improv & Leadership with Professor Popowits is a good investment, I would like to also suggest you take a look at MBA 590 w/ Michael Popowits: A Life-Changing Experience.

Professor Michael Popowits (left) during an improv exercise at Fall 2013 New Student Orientation. 

Soon-to-be graduates and co-founders of NuFortis, Flor Fernandez, Brittany Chibe and Jason Rebello have been unstoppable since winning first place at UIC C2V Business Plan Competition this past December.

The team placed 2nd in the Louisville Cardinal Challenge elevator pitch competition and 6th in the Georgia Bowl competition, and has raised a total of $4,250 in prize money. Their upcoming schedule is jam-packed and will take them to The Big Sell competition at Purdue University March 29th, the New Venture Championship at the University of Oregon 3rd, and beyond.

Nonetheless, they found the time to tell us more about NuFortis and their experience since creating their company. NuFortis is essentially a technology service firm, offering Structural Health Monitoring (SHM) to the civil infrastructure industry: ‘NuFortis is optioning and will license a solution incorporating technology developed and patented by Oak Ridge National labs that not only monitors a structure’s health in real-time, but also continuously forewarns of structural failure…’ What excites the founders the most about their product is that it is a practical solution, which can really make a difference in many industries nationally and globally. ‘We are bringing advanced technology to create efficiency, cost savings and increased safety to the world’s buildings, bridges, nuclear power plants, oil rigs and pipelines.’

When they embarked on their adventure in the MBA UIC Tech Ventures program last summer, once they found an untapped technology and inventors, they were charged with identifying a viable business concept. They evaluated potential technologies based on the amount of research funds already invested in the project, and the potential market size. Their research led them to a technology that ultimately became the foundation of the company they launched, Nufortis.  The technology is backed and protected by 10 patents with more on the way; it has already been successfully tested by NASA and the US Airforce; this year it will be tested by the Federal Highway Administration on an actual bridge that is set to be destroyed.

What made Tech Ventures ‘the single most impactful experience’ of their entire program at UIC Liautaud were the small victories and growth they were able to achieve since their initial success at the UIC C2V Business Plan Competition last year. ’The combination of the long hours of preparation, the strong competition, and networking has been a thrilling ride…Before we began our MBA program we may have talked about the idea of starting our own business. Now we’re actually trying to grow a business that we’ve started.’

Click here for a the full version of the interview conducted with the NuFortis co-founders.

If you are interested in taking part in the Tech Ventures program starting this summer, get more information here.

 NuFortis is a technology services firm offering the next generation Structural Health Monitoring (SHM) solution to the civil infrastructure industry. NuFortis was formed by Brittany Chibe, Flor Fernandez and Jason Rebello. We formed NuFortis in the fall 2013 semester as students in the MBA Tech Ventures Program. NuFortis is optioning and will license a solution incorporating technology developed and patented by Oak Ridge National labs that not only monitors a structure’s health in real-time, but also continuously forewarns of structural failure, thus minimizing the costs and risks associated with failing infrastructure. This is a crucial technology when you consider the aging and rapidly deteriorating American infrastructure like bridges, dams, railways and the economic and environmental costs of structural failure associated with oil rigs, pipelines and nuclear power plants.

2. How did you end up on the same team?

In the first of three Tech Ventures semesters that takes place over the summer you have the opportunity to work on small assignments with as many different people as possible. The goal there is to get a sense of who you think you’d like to try and start a business with. You try to gain an understanding of how well you’d work together, who has complimentary and supplementary skills and abilities, genuine entrepreneurial aspiration, and areas of interest. As anyone that has started a business will tell you, one of the most important decisions you will make in the beginning is who you decide to “go into business” with. Our class had some talented people but in the end you have to choose and make the best decision possible with the information you have. Our team had some natural chemistry which we thought was critical to carry us through those late late nights arguing over business models, what’s important for slides, who’s going to say what etc etc. We’ve said it many times over the last 7 months…we love our team.

3. What excites you the most about your company/the solutions you are proposing?

I think what excited us about the technology and our company is that we have a very practical solution that has the potential to really make an impact in many industries. We are bringing advanced technology to create efficiency, cost savings and increased safety to the world’s buildings, bridges, nuclear power plants, oil rigs and pipelines.

 4. When did you know that your idea is actually a viable concept? / And that there is a market for it?

We got excited about it when we first found the technology and had a chance to meet with the inventors. The level of testing and the amount of research dollars that were already committed the product let us know that we were not the only ones that believed in this potential. In addition as our understanding of the technology grew and our understanding of the market size and current competitive landscape grew we knew we had something very viable. The technology is backed and protected by 10 patents with more on the way and it’s already been successfully tested by NASA and the US Airforce and this year it will be tested by the Federal Highway Administration on an actual bridge that is set to be destroyed.

5. What is your business plan competition schedule like this semester ?

Our upcoming schedule is outlined below and we are confirmed through the Oregon competition in April. We have applied to and are hopeful that we will get into the Rice and Global Ventures business plan competitions.

Mar 5 - Critical Pitch competition (associated with University of Chicago Booth Graduate School of Business)

Mar 29 - The Big Sell competition (Purdue University)

Apr 5 - New Venture Championship (University of Oregon)

Apr 11 - Rice Business Plan Competition (Rice University)

May 3 - Global Venture Labs Investment Competition (University of Texas Austin)

6. How many competitions have you participated in so far? / What was your placement in  each of them? / How much money have you won so far?

Including C2V we’ve competed in 3 competitions. As you know we won first place at C2V, we made the final round in the Georgia Bowl competition finishing 6th overall and we recently came in 2nd place in the Louisville Cardinal Challenge elevator pitch competition.  All in all we've won $4,250 and are looking to win more

7. What has been your best moment/experience with NuFortis so far?

Our best moment so far is the combination of small victories and growth since C2V. We’ve been honored to represent UIC in a few competitions on the business plan “circuit” thus far and the combination of the long hours of preparation, the strong competition, and networking has been a thrilling ride. We’re in March now and while it’s been a real challenge the prospects for NuFortis are still very real.                                                                    

8. Where do think your success will take you? ? What do you have in mind for NuFortis future development?

Tech Ventures has set us on a fun, exciting, and exhausting journey that could lead in so many directions and that’s exactly what we wanted, more opportunities. Entrepreneurship is a lifestyle and we’re in that world now with all the ups, downs, and pivots and we’re hanging on and enjoying the ride. The technology itself has so many applications and our goal is to continue to push NuFortis forward and grow it as much as we can in order to make a real impact on the world of Structural Health Monitoring

9. How much was UIC Liautaud able to support you during your project?

UIC Liautaud has played a large role. The relationships that Dr. Shrader has built and maintained have probably played the largest role. Because of his efforts to build Tech Ventures we’ve had the support of some amazing alumni that have given up a lot of their time to support us. In addition we’d like to say thank you to the staff that has supported the logistics of our travel to and from competitions. 

10. Is there anyone you would like to name, who particularly supported you during the business development process? / Do you have a mentor?

We’d like to thank Dr. Shrader along with Tech Venture alumni Michael McCoy and Alex Duchak for the countless hours they have spent advising us. We wouldn’t be where we are now without their consistent support.

11. Who provided you with ideas and support from the technological side?

We’d like to thank our Inventors from Oak Ridge National Labs, Lee Hively Ph.D and Bob Abercrombie Ph.D who’ve been a huge support with helping us understand the nuts and bolts of the technology we’re trying to commercialize.

12. What are your recommendations for students that are thinking about taking Tech Ventures this year?

If a student looking for an opportunity to test their skills, knowledge and abilities in a real world entrepreneurial environment then make the decision and take it seriously from the beginning. The more you view it as a real entrepreneurial opportunity and less like a school project the more you’ll get out of the program whether or not your concept becomes a reality.

13. After having this experience, has this changed your career plans?

We can say that Tech Ventures has been the single most impactful experience of our MBA program at the UIC Liautaud Graduate School of Business and one that will continue to resonate in our respective careers long after we graduate in May. Before we began our MBA program we may have talked about the idea of starting our own business. Now we’re actually trying to grow a business that we’ve started. 

If you would like to learn more about NuFortis' success, click here.

If you would like to continue reading about the UIC C2V Business Plan Competition, click here.

Interested in advertising? This Wednesday, March 12, GMARK (UIC Graduate Marketing Association) will be visiting Leo Burnett, located at 35 West Wacker Drive. Catherine Yi, UIC alumni and Content Manager on the P&G account at Leo Burnett/Arc Worldwide, will be hosting the GMARK tour. Join us as we learn more about the field of advertising and the various departments at Leo Burnett. Also, Leo Burnett's internship application is due March 31; get ahead of the game by learning first-hand what the advertising company looks for in potential candidates. We'll be taking a tour around the building and will have a presentation where representatives from various departments will join us for a Q&A session. We are meeting at 1:45pm in the lobby of the Leo Burnett building and then taking the elevators up to their office as a group. Please RSVP by Wednesday, March 12, at 1pm by emailing gmark@uic.edu. Don't miss out on this awesome opportunity!

Last week‘s “Warm Up With Wine” event marked the kick-off for UIC Liautaud’s newest org on campus: the Liautaud Women’s Network! 

“Warm Up With Wine” was a wine tasting at Gentile’s wine shop where students had the opportunity to meet fellow Liautaud women while sampling a flight of wine. The night involved a little networking, but for the most part, the conversations were kept light with talks about wine & cheese, and plans for future LWN events! 

LWN was co-founded by Michelle Plasz, Danielle Seger, Lauren Van Damme, and myself last semester. The organization aims to connect women pursuing graduate studies at UIC Liautaud and engage them in an ongoing dialogue about the unique challenges and opportunities facing women in business in the 21st century. This organization is open to all students, but most events will focus on how we can support Liautaud women throughout their careers. 

Thank you to everyone who was able to make it!

If you are interested in future LWN events, email us to get updates and follows us on Facebook.

Eugene Fula

Class of: 2014

 Masters of Science in Accounting

Email: Efula2@uic.edu

Full time Position 

Company: PricewaterhouseCoopers

Title of Position: Tax – Financial Services

Why did you chose your current position?

I was interested in tax after completing a corporate tax internship at RR Donnelley.  To me a tax career is a constant learning experience, because regulations are constantly changing, and it becomes a lot more complicated when state & local, and international regulations are introduced. Personally I like to be challenged on a daily basis, and working in tax I feel I will be constantly challenged, and adopting to new regulation as it is changes.

Describe your new role?

As a PwC intern, I was part of the Financial Services group solving tax issues for private equity and hedge fund clients.  When I interned during the summer, my main task was preparing work papers for the 1065 partnership returns, and the associated K-1’s that will be sent out to the partners. During my short time there, I learned a lot, and the senior’s that I would report too were extremely helpful. I was able to not only learn how to do the task, but I also learned the why behind everything I did. I tried to inquire to the reasoning behind it, and in turn that would help me to better complete the task at hand. I learned a lot through this internship and can’t wait to start my full time position in July and continue my learning experience.

How did you obtain your current position?

When I was actively searching for jobs, I was in the habit of checkingUICCareers.comweekly. I would check to see if any new and interesting jobs were posted and one day that paid off when I noticed a tax internship at PwC was just posted. Seeing that posting I proofread my resume one last time, and immediately applied.

While doing all of this, I was still interning at RR Donnelley and made a connection with a manager in PwC’s state & local tax group. So, as soon as I received an email for a schedule a phone interview, I informed her about my interview and she recommended me to the recruiter. After that, I went through the interview process. Which was very informational and everyone I met at PwC was really nice and helpful.  After the interview, I knew that this is a company that I could see myself working for, and that made my choice to accept an offer very easy.

What advice do you have for students currently searching for internships or full time positions?

 My biggest piece of advice is to gain connections any way possible. UIC has lots of events where you can meet professionals, and introduce yourself. If you make a few strong connections, someone will help you in any way they can. Also, I strongly advise to make sure yourUICCareers.comprofile is up to date, and check the postings every week. You never know what opportunity might come up, it could very well be your dream job!

Concentration: Entrepreneurship

Post-Degree Industry/Field of Work: Technology Startups & Economic Development

Undergraduate Degree: Human Communication Sciences and Disorders

Undergraduate Institution: Northwestern University

Current Employer: Associate Vice President for Innovation & Economic Development, University of Illinois; Interim Executive Director & Chief Operating Officer, UI LABS

LinkedIn Profile: Caralynn Nowinski

Why did you return to school to obtain your Graduate Business Degree?

My original intent was to learn the basics of business to better prepare me for a future role within hospital administration. I didn’t expect my MBA experience to drastically alter my future career goals and change my career path from medicine to business. 

What impact has the UIC Liautaud MBA had on you?

The MBA program cultivated my spirit of entrepreneurship. Reflecting on my experiences prior to graduate school, I suppose that spirit was always present, but the Liautaud program inspired the confidence that I needed to explore it deeper. Along with several fellow students and professors, I founded a biotechnology company, SanoGene Therapeutics, which I managed for several years post-graduation. This company was what first introduced me to the world of technology and innovation. 

What were some of the opportunities that became available to you once you received your UIC Liautaud MBA?

As a joint degree student in medicine and business, I chose to postpone a medical residency after graduation and instead joined an early-stage venture capital firm, ARCH Development Partners, as an Associate. Without the entrepreneurial experiences that I encountered at UIC, I would not have been exposed to venture capital and may never have realized my passion for building companies and developing technology.

What course proved to be most useful in your current position?

Nearly my entire MBA experience pivoted around the Technology Ventures Program and ENTR 555: New Venture Formation. Through this program, SanoGene Therapeutics became an independent entity focused on developing novel biologic therapeutics for cancer. Furthermore, this course and my subsequent participation in the Concept2Venture Business Plan Competition introduced me to venture capital and sparked my interest in exploring a career in VC that eventually led to my first post-graduate position at ARCH Development Partners.

Which professor changed the way you think?

Professor Rod Shrader pushed me to not only think like an entrepreneur, but to act like one. His guidance was instrumental in my quest to find a career path that melded my love of science and technology with my drive to succeed in business.

What did the UIC Liautaud MBA offer you that you would not have received elsewhere?

Flexibility. From the start, I thought I was at a disadvantage trying to squeeze my MBA experience into one year as part of the dual degree program.  My schedule became even more complicated as SanoGene Therapeutics began competing in (and winning) business plan competitions as UIC’s representative. Yet, in every instance, the administration, advisors and professors were willing to allow me the flexibility that I needed to make the most of my MBA experience. It was a fantastic year and much of it is attributed to the flexibility that I am not sure would have been possible elsewhere.

What was your favorite aspect of the UIC Liautaud MBA program or the Liautaud Graduate School of Business?

I am continually impressed with the energy and vision of the deans and faculty and their drive to build on the unique aspects of the program. Not only is entrepreneurship evidenced in the students, but it is exemplified in the program as a whole – and not just in the formal entrepreneurship program. You feel this energy in every aspect from marketing to management to finance. 

How would you define the Liautaud student?

The Liautaud student is tenacious in their pursuit to build a successful career.  They take creative steps in their journey and are not deterred by inevitable setbacks. 

If you were to come up with a tagline for the UIC Liautaud MBA, what would it be?

Fostering a spirit of curiosity, creativity and determination

What advice would you provide to current or incoming UIC Liautaud MBA students?

Take initiative. Anyone can get their MBA, but it’s the path that you choose to fulfill your requirements that defines your experience. Push yourself to navigate a less chartered path, and take advantage of your professors’ and advisors’ energy to help guide you. You won’t fully realize the opportunities that the UIC Liautaud MBA program has to offer until you seek them out – and then the possibilities are limitless.

UIC alumna Caralynn Nowinski, MBA/MD 2007, has become a key trailblazer in the efforts to revitalize the nation’s manufacturing base, with UI LABS. When Caralynn started her MBA journey at UIC Liautaud, she wanted to learn the basics of business to better prepare herself for a future role within hospital administration, something to complement her medical degree. However, once she started her journey, she was exposed to amazing opportunities that allowed her to explore a variety of different avenues.

 During Caralynn’s UIC career, she was one of the first winners of the UIC C2V Challenge, with co-founded concept SanoGene Therapeutics Inc., which was later backed by Cato BioVentures, the venture-capital affiliate of North Carolina-based drug-testing firm Cato Research Ltd. Not only did this experience spark Caralynn’s career, but also helped land her on Crain’s Chicago Business 2008 "Forty Under Forty.”

Now as interim Executive Director and Chief Operating Office of UI LABS, Caralynn has become the face of Chicago. Under the direction of Caralynn, UI LABS will serve as a flagship for U.S. digital manufacturing, which utilizes the latest in technology to improve the manufacturing process. 

More about Caralynn:

Alumni Profile

Crain's Forty Under Forty

More about UI LABS: 

The woman who must make Chicago's new digital manu labs work​

$5M grant supports university manufacturing initiative

Chicago secures digital manufacturing site with help of private funds

How Chicago won it's biggest research deal in a generation

The Immense Ambition of Chicago's Digital Manufacturing Hub

“So where are you going to live?” I heard this question over and over again, when saying good-bye to friends and family to start the UIC Liautaud MBA program in Fall 2013. Organizing a move to a new city is not the easiest thing to do. Here are a few tips to help you with your move.

Incoming international students: When moving to a new city and without knowing anyone, where are the right places to look for an apartment? Where are the best and most convenient areas to live? While I had moved within Europe a couple of times and visited Chicago before, the city seemed to be an enigma for me. I had no sense of orientation and did not know anything about the different neighborhoods or even what rent prices to expect. For me, as an incoming international student, campus housing seemed like a good option.                                                                                                    On campus: Grad students have the opportunity to work with UIC Housing and can live in Single Student Residence (SSR) where each student has an individual room and shares a kitchenette and bathroom within each unit. There are also single apartments available, too. SSR is located on west campus and is very convenient to all kinds of transportation, like the CTA trains, buses, and the UIC Campus Shuttle. Additionally, the entire building is connected via a tunnel system to Student Center West (SCW) and the UIC Sport and Fitness Center. Also, if you're concerned about the roommate situation, put your mind at ease. Campus Housing matches roommates based on personality, determined by a version of the Meyer Brigg's personality test that each student must complete before moving-in. My roommates are fantastic, and it's great how we were paired up based on our respective personalities. 

Off-campus: When thinking about living off-campus, one should keep in mind the location of UIC on the blue line (UIC Halsted) and the time it will take to arrive to campus everyday. An apartment with access to the blue line will make the commute much easier and faster. Popular neighborhoods include: Wicker Park, Gold Coast, Bucktown, Lakeview, Little Italy and Greek Town. Finding an apartment however, will be difficult when searching from another city or country. The search can be difficult because one cannot meet with potential landlords and roommates before moving-in nor physically see the place before signing a lease. It is definitely recommended to find other graduate students to live with since interests and schedules are prone to be alike. Websites that have helped fellow students find roommates and a place to live, are Craigslist, easyroommate.com, and realtor websites. (Listed below)

General advice: Choosing the right neighborhood will also depend on your budget, because costs do vary depending on location. Furthermore, pay attention to the two months lease renewal rule of thumb. Normally, lessees notify their landlord that they will be moving out two months before the end of their lease. So if you are thinking about coming to Chicago in August, start looking by the beginning of June.

Here are some resources that might come in handy when looking for an apartment:

http://www.domu.com/

http://www.craigslist.org/

Not sure which summer and fall classes to take? Then join us for the upcoming UIC Liautaud Summer and Fall Preview event! Faculty from each department will promote and highlight specific information about their elective courses for summer and fall 2014. After the presentations, time will be allotted for informal Q&A sessions where you can gain further insight from CBA professors.

Tuesday, April 1, 2014
4:50pm-5:55pm
Douglas Hall Room 210

Please log in to the Inner Loop student portal to submit your RSVP for this event (once you log in, click the "Events" tab to RSVP).

If you have any questions, please contact the Liautaud Programs Office at 312-996-4573 or at asklgsb@uic.edu.

We look forward to seeing you there!

Mark your calendars for May 9th: the third annual MBAA Recognizing Excellence Graduation Banquet and Awards Night!

Celebrate this year's graduating class of 2014 with Dean Michael Mikhail, UIC Liautaud staff and faculty, and your fellow students! This event will recognize student excellence in achievement, honors, and participation within Liautaud and the wider community. 

Tickets for the event will be sold for $40 and will include appetizers & entrees, as well as an open bar at Hubbard Inn. Due to the limited number of tickets available, we encourage you to purchase your ticket as soon as possible. Graduating students are allowed to purchase up to 2 tickets. This event is open to all current UIC Liautaud students, faculty, and staff.

Don't forget to nominate your fellow students and vote for your favorite professor by April 10th! 

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Below you can find a detailed description of the awards available for nominations.

1. Academic Excellence Award- Awarded to the student who achieved the highest degree of academic excellence at this level.
2. Student of the Year Award - The award recognizes up to three students for their commitment to (1) character, (2) service and outstanding contributions and (3) academic achievements.
3. Most Valuable Player Award - Students nominated for this award should include those who you always want to work with in class or on a group project. These nominees are hard working team players who consistently go above and beyond the call of duty to ensure that your team completes a project successfully. They are always willing to take on extra assignments and help others in a team.
4. The Networking Expert Award - Students nominated for this award should include those who are always ready to meet new people and make new connections. Nominees should also include those who are always willing to connect friends with other professionals.
5. Most Likely to Become CEO Award - Nominees for this award should include students who are ambitious and driven to working their way up the ladder. They emerge as natural leaders in professional, academic, and volunteer situations.
6. Liautaud Rising Star Award - This will be awarded to rising second-year students. Nominees should include any first year student who has demonstrated significant dedication and commitment to Liautaud through academic excellence, community engagement, innovation, and/or leadership.
7. Liautaud Leadership Award - Honors a Liautaud student who has demonstrated leadership in one or more campus and/or student developed project(s) and/or student organizations leading to the success of the initiative or organization.
8. Liautaud Community Impact Award - Honors a Liautaud student who has made an outstanding contribution to the wider community by dedicating a significant amount of time, effort and creativity to one or more community service project(s) or organization(s). The honoree’s volunteer activities in a community setting will demonstrate an outstanding level of caring, dedication and selfless commitment to others.
9. Liautaud Innovation Award - Honors a Liautaud student whose contribution has led to the creation of a new project, new program, or new service to address a need in the University or Liautaud community.
We look forward to celebrating our student successes at the MBAA Recognizing Excellence Banquet on May 9th! 

*Previous winners can be found here. 

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Questions? Email us.

Industry/Field of work: Nonprofit Management

Undergraduate degree: Communication Arts and French (majors); Business Administration (minor)

Undergraduate School:University of Wisconsin-Madison

Organizations involved with:InKIND

What prompted you to return to school to achieve your master’s degree?

I minored in Business Administration as an undergraduate student and really enjoyed the experience. The education that I received in accounting, management, marketing, finance and general administration was really practical and useful in the early years of my career. When I started working in my current position as Executive Director of two small nonprofit medical associations, I quickly realized that I would benefit from reinforcing and deepening my business and management knowledge.

My former boss and mentor encouraged me to pursue an MBA. I had also been considering certificate programs in nonprofit management that would take less time and be less expensive than a master’s degree. She helped convince me that an MBA would deliver more value and make me a more well-rounded employee and job candidate down the line. I’m thankful that she gave me that extra push.

What was the most important factor for you in choosing a master’s program (or factors you considered)?

When choosing a MBA program, I was primarily concerned with school reputation, location (I only considered Chicago-area programs), and value.

Why did you choose UIC Liautaud for your graduate study?

UIC was the clear front-runner of all of the programs that I considered in the Chicago-area. I was drawn in by its central location and in-state tuition prices, the dedicated faculty/staff, strong reputation for educational rigor, vibrant student community, and hands-on learning opportunities hooked me. So far I’m very happy with my decision.

We all know that people pursue graduate school to increase their business knowledge, but since you have started the program, what has been the most unexpected gain the program has given you?

I’m still very early in the program (only two classes under my belt), so I think and hope that my answer to this question will evolve over the next several years. That said, even in my second semester, I’m consistently surprised at how quickly and frequently I can apply concepts I’m learning in the classroom to my job. It’s probably one of the few benefits of working full-time while pursuing a degree! I’ve also been so pleased to gain new friendships and build my professional network. It’s fun to operate within a community of classmates who share similar interests and motivations as me.

What is your favorite aspect of the UIC campus and why?

Douglas Hall is a great home base for the UIC MBA program. It’s modern, clean, and there are plenty of spaces to meet with group members and get work done. UIC’s proximity to public transportation is a huge plus and makes it easy for me to get to and from my classes.

How would you define the Liautaud student?

The Liautaud students that I have encountered so far are approachable, ambitious and motivated. Not only do they apply themselves at work and in the classroom, they also find time to get involved on campus and have fun. It’s a very welcoming group.

How do you like to spend your free time?

During my free time I like to read, watch movies (especially documentaries), and run or hit the gym depending on the season. I love trying new restaurants and cooking at home with my husband. I’m lucky to have a lot of family and friends in Chicago, and I spend as much time with them as possible. When I have the time and money, I like to travel - something I hope to do much more of once I graduate.

Do you want to develop valuable experience in leadership while having fun with your peers? Then consider becoming a future GMARK Leader! GMARK is now recruiting for our 2014-2015 Leadership Board! 

The Graduate Marketing Association is dedicated to developing the skills and knowledge of students interested in studying Marketing at UIC through professional networking, industry connections, and events. Not only does GMARK strive to educate its members and the UIC community about the field of Marketing, it also successfully encourages students to establish relationships among each other.

Click the link below to see the list of board positions and let us know which position you are interested in by sending a brief statement of intent by Monday, April 21st to Gmark@uic.edu. We look forward to hearing from you!

Click here to see the list of board positions available!   

Starting Fall 2014, UIC Liautaud will provide incoming students with the opportunity to have a student mentor during their first semester at UIC. 

The mentorship program aims to encourage student engagement and collaboration between new students and students who have completed at least one semester at UIC Liautaud. The program’s success will depend on student mentors, mentees, and UIC Liautaud staff taking an active role in the acclimation process. UIC Liautaud will match incoming students interested in participating in the mentoring program with a student already enrolled in one of our graduate programs (MIS, MSA, and MBA) based on criteria indicated in the match application. 

The most important task of a good mentor is to help and encourage the mentee make the most out of their UIC Liautaud experience.  Although the role of mentor is an informal one, it is of great importance and value to our incoming students.

Mentors will provide informal advice to the mentee on basic level aspects of what organizations to join, classes mentee should consider that are valuable to the student experience, and what resources to use for purchasing book, and/or studying strategies, etc. The mentor should be able and willing to provide mentee with supportive guidance and constructive feedback. 

Why be a mentor?

• It's an easy way to get involved at UIC Liautaud with less commitment than being in a student organization, especially if you are employed full time and on campus only a day or two every week
• Expand your network
• Have the opportunity to assist in the development of the new students
• Practice your soft skills
• Add a leadership role to your resume, which always looks good when applying to a new job!

What it takes to be a mentor: 

• Must have at least one semester completed at UIC Liautaud 
• Commit to checking in with mentee in person twice a semester
• Be available and accessible to mentee via email throughout the course of his/her first semester
• RSVP to beginning of semester social where you will be introduced to your mentee and have the opportunity to network with the other mentors

UIC Liautaud is looking for current students to mentor the incoming class, if you are interested in being part of this exciting new program, please fill out this brief survey.

Looking for elective courses to take in the fall 2014 semester? Below is a preview of some marketing and entrepreneurship courses that are offered this coming fall.  If you have any questions about these courses and/or the registration process please contact the Liautaud programs office at 312-996-4573 or email Dawn Birkland or James Brown.

MKTG 594: Marketing Analytics (CRN: 28091) Wednesday:  6:00pm – 8:30 pm, Instructor: Alan Malter

Why study Marketing Analytics?

As an executive or manager, you must be an effective decision maker.  Marketing decision-making involves putting together concepts, data, analyses, and simulations to learn about the marketplace and to design effective marketing plans.  Marketers are seeing increasingly faster changes in the marketplace and are presented with an ever increasing amount of information.  Marketing is now more than ever becoming a mixture of science and art.
 
In MKTG 594: Marketing Analytics, students will learn concepts and work hands-on with data and software tools for making decisions regarding segmentation and targeting, positioning, forecasting, new product and service design, and the elements of the marketing mix.

Through the course students will emulate what organizations go through each day.  You will learn to take advantage of the massive amounts of data available in most organizations, using that data to make better-informed decisions, and to create compelling evidence to persuade other executives and managers to support those decisions.

If you are looking for a career in marketing or are currently working in the field, the skills learned from this course are essential to your growth as a marketing professional.

Click here to access an article that covers the growing need for professionals with analytical skills.

ENTR 502: Entrepreneurship (CRN: 23350) Tuesday:  6:00pm – 8:30pm, Instructor: Maija Renko

Whether you are interested in becoming an entrepreneurship or not, the skills learned in ENTR 502 can guide you throughout your career.

Many entrepreneurs spend years developing skills and experience as traditional employees working for others before venturing out on their own.  The mindset and skills that can make you a successful entrepreneur are the same ones that can make you a successful executive.

In ENTR 502: Entrepreneurship you will cover the following:
•    Explore the process of entrepreneurship with particular attention to the pre-startup and early stages of business creation.
•    Learn how to recognize, define, test and exploit business opportunities.
•    Explore what is means to develop an “Entrepreneurial Mindset”.
•    Determine the feasibility of a business concept through industry, market trends, economic, breakeven, and risk analyses.

What is an entrepreneurship course without learning from real entrepreneurs? Throughout the semester presentations will be given by local Chicago entrepreneurs.  This will give you a glimpse of what it is like to be an entrepreneur.

MKTG 565: Marketing Communications and Promotional Strategy (CRN: 37167) Monday:  6:00pm – 8:30pm, Instructor: Elina Tang

The course provides a detailed exploration of the Integrated Marketing Communications (IMC) process.

•    Advertising (Ad design & Management)
•    Sales promotion
•    Public relations
•    Personal selling
•    Direct marketing
•    Digital/Interactive media

The course will be case based and will take you through the above steps to determine if a campaign is meeting its designated goals.  The course will also cover literal communications within an ad, dealing with encoding and decoding messages and the proper channels through which messages should be delivered.

MKTG 574: Product Planning (CRN: 29842) Thursdays: 6:00pm – 8:30pm, Instructor: Anna Cui

Do you have an interest in creating and managing products? Product Planning may be of interest to you.

This course focuses on the development and management of new products from a marketing perspective.  It is designed to help you understand the important issues involved in the process of new product development and learn tools and techniques that facilitate decision-making in new product management.

You will study the needs and wants of consumers and through research you will learn to understand the opportunity for a product. 

Below are the learning objectives that you will gain through completion of this course:
•    A thorough understanding of issues related to the product planning and development process.
•    Importance of marketing in new product management.
•    Apply strategic thinking to analyze new product management issues.

MKTG 571: International Business Operations (CRN: 26301) Wednesday: 6:00pm – 8:30pm, Instructor: Cheryl Nakata

Business from a global perspective.

The course presents a broad overview of the issues and the environment confronting managers and firms operating in the global economy.  Themes covered will include the policies and problems firms operating across international frontiers face and the social questions they generate.

Below are some goals for students in this course:
•    Understand fundamental issues in and approaches to international business.
•    Learn how to analyze business situations, and develop and implement effective plans and solutions.
•    Appreciate the impact of cultural values and orientations on global business.