Entrepreneur FAQs
A: NVL is a student-run consulting firm at Gonzaga. Students apply what they have learned in the classroom to aid entrepreneurs with their business challenges.
A: Entrepreneurs complete the application describing their business, project needs, and how the students will benefit from working on the project. Student Program Directors interview the entrepreneur and, if accepted, will work with their team to develop the scope of work.
A: The scope is a blueprint for the semester, outlining weekly goals and tasks that guide the team through three phases. Entrepreneurs work with their student Program Director and Project Manager to create and sign off on tasks that benefit all.
A: Entrepreneurs will meet in person or virtually with their team for nine weeks (once a week or every other week). They will also attend several events, including the initial kickoff event, final project presentation, networking mixer with advisors and other program participants, and end-of-the-semester exhibition.
A: The entrepreneur meets their team, explains the scope of work, and determines their meeting schedule. It's a crucial starting point for effective collaboration and communication.
A: There are three sessions during weeks 3, 6, and 9 where teams present to Program Directors, advisors, and entrepreneurs. These presentations discuss completed work and provide recommendations and feedback.
A. During Week 9, the team presents their deliverables, slides, and Executive Summary to the entrepreneur in person. Program Directors conduct an exit interview where the entrepreneur can provide feedback on their experience.
A: A week following the final presentation, all teams and entrepreneurs come together to showcase and share their accomplishments during the semester.
A. Open communication is essential for success. While it is tempting to have the team complete as much as possible, quality over quantity provides the best outcome for everyone.
A: Startups, established businesses, non-profits, and even entrepreneurs with an idea can apply! We also encourage projects that involve any academic disciplines, too.
A. It is ideal for entrepreneurs to be in Spokane, but we can make acceptances on a case-by-case basis.
A: There is no cost, so we can encourage entrepreneurs to offer their time to guide these students as they apply their new skills to solve real-world business challenges.
Student FAQs
A: The New Venture Lab program is a student-run consulting organization. It provides hands-on business experience by completing projects with entrepreneurs in a real-world business setting.
A: Complete the application (on this page). Have questions? Reach out to us at: newventurelab@gonzaga.edu.
A: No, any major is encouraged to apply!
A: Projects may include marketing/branding, social media, market research, financial analysis, etc. Tasks may range from research to creating tangible deliverables outlined in the project scope.
A: Teams are formed based on a combination of skills and interests. A Project Manager leads each team, and consultants collaborate on various aspects of the project, such as research, analysis, and strategy development.
A: While we consider preferences, teams are often formed based on a combining skills and project needs to ensure a well-rounded and productive collaborative experience.
A: The program structure fosters hands-on learning and real-world business experience. Students come away with a deeper appreciation of owning a business and understanding how to manage and solve challenges.
A: Students attend regular team meetings, client interactions, and project-related tasks over nine weeks within the semester. Hours spent per week may vary depending on the project and delegation of tasks from the Project Manager.
A: Yes, students can apply for multiple semesters. The program evolves based on feedback and the changing landscape of businesses, ensuring each semester presents new challenges and opportunities.
A: Students receive initial training and orientation to prepare them for effective collaboration. This may include workshops, resources, and guidance on project management from their Project Manager and the Program Directors.
A: Regular check-ins, reporting sessions, and direct communication with program directors and mentors provide students constructive feedback and guidance throughout the program to support their learning journey.
A: Yes, the program fosters networking opportunities through interactions with entrepreneurs, Program Directors, mentors, and fellow students. Events throughout the semester allow students to make valuable connections that may extend past their time at Gonzaga.
A: The program provides practical experience, exposure to real-world business challenges, and the opportunity to build a portfolio of work. It enhances your skills, boosts your resume, and prepares you for future career opportunities in various industries.