the Foundry, a University of Utah-sponsored peer-based training ground for entrepreneurs that's challenging some long-held notions about how business incubators should work.
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… a host of new ventures to emerge from the Foundry, a University of Utah-sponsored peer-based training ground for entrepreneurs that’s challenging some long-held notions about how business incubators should work. University of Utah post-doc Rob Wuebker and the program’s other founders believe they’ve hit upon a method of fostering entrepreneurs that is not only dirt cheap and easily replicable but--crazy as it sounds--also has the potential to catalyze urban redevelopment and foster the growth of the creative class in places with fledging hipness quotients, from Salt Lake City to Armenia. Recently, the Foundry even caught the eye of Zappos CEO Tony Hsieh, who wants to build his own incubator in Las Vegas. “My MBA would’ve been a complete waste without meeting Rob and his team,” Paul says. The Foundry gave him “the tools to make the idea a reality.”
So what's the secret? The founders say it has a lot to do with social capital: Students form a tight-knit cooperative network, and as the number of viable business ideas dwindles over the course of a semester, they hire each other. This is in stark contrast to the typical incubator, where a competitive zero-sum-game vibe dominates. Participants remain accountable to the group by filing weekly reports, which they upload to Dropbox at least 24 hours before the peer-led weekly meeting at 7:30 a.m.--yes, 7:30 a.m.--Monday morning. In lieu of plodding lectures, students digest the basics of entrepreneurship via bite-sized YouTube videos, so they can spend their Monday meetings helping each other problem-solve. When it works the way it’s supposed to, the instructors are relegated to pouring coffee.
Lately, the Foundry has captivated Zappos CEO-turned-urban renewal champion Tony Hsieh. Hsieh has a $350 million project aimed at building a vibrant urban core in downtown Las Vegas, where his online shoe company is headquartered. Wuebker says he is scheduled to meet with Hsieh and his team in a few weeks to share ideas--Hsieh’s Vegas Tech Fund plans to dole out seed money to community-minded tech startups and, à la the Foundry, spur the growth of a downtown creative class.
“Rob’s created a pirate ship,” says Ben Hadley, who introduced Wuebker to Hsieh. “I wanted the guys in Vegas to know about this pirate ship in Salt Lake City. You know you’re onto something when Tony opens an attachment and says, ‘This is very good.’”








