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Programs
10 Entrepreneurship Tips From Rice Business Podcast Guests
Rice Business has been ranked the No. 1 Graduate Entrepreneurship Program for the seven years in a row, and that’s not by chance. Entrepreneurship has deep roots at Rice, beginning with a curriculum that teaches collaboration and innovation and amplified by a community dedicated to giving back.
Whether you’re sitting on an idea, in the process of raising funds or just piecing together plans for a future venture, here are a few tips Rice Business entrepreneurs have shared on our podcast, Owl Have You Know.
1. Just dive in.
“Entrepreneurship’s in the Rice DNA,” says Senior Lecturer in Entrepreneurship Al Danto ’00. “We always provide a practical framework, but the reality is that you have to get out there and do it. A lot of institutions aren’t gonna give you the free will and support to do that.”
Listen to Danto’s career journey, spanning three decades of experience with startups and entrepreneurial companies.
2. Root your idea in curiosity.
“I hear many of the same ideas over and over again. And I try to find a way to map that idea to a problem that needs to be solved and to a personal interest or curiosity within the founder,” says Hesam Panahi, director of strategic initiatives and programs at the Liu Idea Lab for Innovation and Entrepreneurship (Lilie). “Having that interest and curiosity is what’s going to drive you when you encounter obstacles.”
Tune in to a conversation with Panahi and two alumni entrepreneurs, Taylor Anne Adams ’23 and Delaney Berman ’22.
3. Test your idea through programs.
“If you come to Rice and want to get into entrepreneurship, there are so many programs, like OwlSpark or BlueLaunch,” says Brad Burke, former director of the Rice Alliance for Technology and Entrepreneurship. “You can use these to work on your company and decide, “Is this something that really has legs and that I want to stay with?’”
4. Take advantage of the tools you’re given.
“I can’t take someone without the entrepreneurial drive and turn them into an entrepreneur. But I can take someone who has that drive, and I can give them the tools and frameworks that will help them be successful as an entrepreneur,” shares Yael Hochberg, head of Rice entrepreneurship initiatives at Lilie.
Hear about Hochberg’s impact on Rice’s entrepreneurship ecosystem.
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5. Know your market’s needs.
“Entrepreneurship is the evaluation of the market and its underlying needs,” says Adrian Trömel ’18, chief innovation officer and interim vice president for innovation at Rice University.
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“It’s the evaluation of business models, the ‘product or solution structures,’ and the underlying risk factors that will help you realize: ‘Hey, I can actually create something new that the world hasn’t seen here before.’”
Tune in to a conversation with Trömel and his father, Klaus Trömel ’85.
6. Know and respect your target audience.
“Think about how you deliver something to customers in a way they actually want it, and how you build trust with them,” says Allison Knight ’10, who co-founded Rebellion Photonics at age 24 and founded Alaris Mail after receiving her MBA at Rice.
Hear Knight share her experience as a woman founder in a predominantly male industry and why she believes blue collar work is the next frontier for AI exploration.
7. Build with people who support you.
“The greatest asset that Rice Business has given me is the community,” says founder Joanna Nathan ’19. She launched Prana Thoracic, a healthcare startup dedicated to finding solutions for the detection and intervention of early-stage lung cancer, in honor of her son who passed away at the age of four from an undiagnosed health problem. “Leaning into that community, leaning into your class, and building your network is really important. Everybody is there to collaborate and help you.”
Finding support is especially crucial for entrepreneurs who are entering a new field, shares Turner Hoff ’13, who pivoted to food technology from real estate finance after receiving his MBA.
“If you have an idea which industry you want to be involved in, do everything you can to immerse yourself in that community,” says Hoff. “I’ve found that people genuinely enjoy being helpful to others.”
Hear Nathan’s inspiring personal story and dive into Hoff’s mission to hear more advice for career-switchers.
8. Lead through the trenches.
“They always say that you’ve got to grind through the trenches, but that doesn’t really mean anything until you're actually in the trenches,” shares Scott Deans ’22.
“You have to assess where you are and you have to be prepared for what's ahead. And as the founder, you have to be the one that is leading — whether you’re driving inspiration or whether you’re the one that has to say, ‘This is going to fail, and we need to stop.’”
Tune in to an episode with Deans, a former DI athlete, to hear how he’s integrating cutting-edge technology into sports training.
Hear how the Rice MBA helped Becky Jackson '25 make the leap into entrepreneurship.
9. Take risks and fail forward.
“I had a great professor at Rice tell me the definition of profit is the reward a company deserves for taking risks,” says Dan Tinker ’04. “So tell your team, ‘I want you to think bigger than you’re currently thinking, push yourselves out of your comfort zone and don't be afraid to take risks. If something fails, I need you to fail forward. Try things, learn and get better.’”
Hear more tips from Tinker on keeping a founder’s mentality.
10. Do what makes you happy.
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“I think a lot of people get pigeonholed into thinking that they have to be a consultant or an investment banker because they think about the safety net, but there are a gazillion ways to make money out there,” says Mike Tatz ’14. “I think you’ve got to do what makes you happy.”
“It should be about the journey, not necessarily the mountaintop moment,” agrees Corban Bates ’15. “If you're not going to enjoy that journey, then I certainly wouldn't get involved because it's just not worth it.”
Listen to a conversation featuring Tatz and Bates, the minds behind the Rice Business Veterans Business Battle.
Rice MBAs receive unmatched entrepreneurial support — from entrepreneurship labs taught by leading professors and practitioners to opportunities like the Rice Business Plan Competition, the world’s largest and richest pitch competition for graduate-led startups.
Learn more about how Rice Business can help you launch your idea, and hear more inspirational stories on the Owl Have You Know podcast.
Explore Entrepreneurship at Rice Hear more on Owl Have You Know
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