The New York Times ran a story in the business section on May 8, 2008 which demonstrates how business students and existing businesses benefit through collaboration. Stetson University business marketing students teamed up with Complete Parachute Solutions Inc., providing fresh marketing ideas and market research which helped Complete Parachute discover new markets and new methods of marketing.

The students provided Complete Parachutes information as to how a Democratic President might affect their business and also found new overseas markets for the company. They also spent time critiquing the company’s website and provided recommendations for making the site more user friendly and with better navigation.

The Kauffman Foundation, formed by Kansas City’s dynamic Entrepreneur, Ewing Kauffman, also encourages this type of collaboration. Vice President for Entrepreneurship, Bo Fishback cites how students research and find answers for companies interested in marketing new products.

Didi Davis Food in Ipswich, MA used a college consulting program at Babson College for putting her new business featuring gourmet condiments on track. Her business didn’t even have a business plan until she teamed up with students. Their first recommendation brought Mrs. Davis and her business into the “real world” with the recommendation for a proper accounting system. The Masters Degree student, Aditi Chowdhary, who headed the team, found the venture gave her management expertise she expects to use in her family business in India after graduation this week.

Stetson’s program is so popular with those contemplating starting a business or needing consulting work from students that Dr. Oliphant reports turning away requests from those wanting a “free diagnosis”.