Scott Shane Challenges Myths About Entrepreneurship with New Book

The Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors and Policy Makers Live By

What are the odds of getting a venture capitalist to finance your new business idea? If you said less than the odds of dying from a fall in the shower, you'd be right. One of the great myths about entrepreneurship in America is that venture capitalists finance many entrepreneurs' ideas.

Myth or reality: Creating more start ups will transform floundering economic regions, generate innovation and job creation, and perform economic wizardry.

Scott Shane

That's another myth, according to Case Western Reserve University economics professor Scott Shane, who provides a reality check about starting new businesses in his new book The Illusions of Entrepreneurship: The Costly Myths that Entrepreneurs, Investors and Policy Makers Live By. The book is due in bookstores later this month.

Shane, the A. Malachi Mixon III Professor of Entrepreneurial Studies at the Weatherhead School of Management, examines several areas of entrepreneurship and shows the reality of starting a business: That the failure rate is higher and the economic impact lower than many realize. Read more.

Case Western Reserve Junior Set for Semester Exchange as Part of Case-Fisk Partnership

Camille Thornton

Traditionally, students with the opportunity to participate in an exchange program study abroad to explore academic and cultural topics. Case Western Reserve University junior Camille Thornton is learning without leaving the United States.

This semester, Thornton will travel to Nashville, Tenn. for a 15-week term at Fisk University as part of the Case-Fisk Partnership's student exchange program. Thornton is the first Case Western Reserve student—and second overall—to participate in the program.

The student exchange program is the cornerstone of the Case-Fisk Partnership, allowing students from both schools the opportunity to attend the other university for a semester, enroll in dual-degree programs and participate in joint research with a national or international scope. Read more.

Campus News

The Perception Lab, housed in the university's psychology department, is seeking participants for a vision study. Participants must be healthy adults ages 18 and older with no major vision problems and English as a first or native language. The study is noninvasive, and primarily requires looking at images on a computer screen, as well as performing tasks designed to mimic activities of daily living. Total time required will range from two to eight hours. Study participants will be compensated at a rate of $15 per hour of participation. For more information, contact the Perception Lab via e-mail, or by phone at 368-6465.


The university's Sustainability Web site provides information on all things sustainable at the university including recycling, energy conservation, Adopt a Building, Energy Ambassadors and more. Refer to the site for tips on recycling and energy conservation both on and off campus.

The Rainbow Adoption Health Service, an affiliate of the School of Medicine and University Hospitals of Cleveland, is offering a free two-day workshop on international adoption, from 8:45 a.m. to 4:45 p.m., January 12 and 13 at University Hospitals, Bolwell Conference Room A. Guest speakers will discuss a range of topics, and adoptive families will share their experiences. In addition, several experts affiliated with the university will present and answer audience questions. To register, contact Lindsey Houlihan at 216-844-6241.

For Faculty & Staff

The Department of Human Resources is hosting a seminar on resumé writing and interviewing skills from 1:30-3:30 p.m., January 16 in the Toepfer Room, Adelbert Hall. Seminar objectives will include writing an effective, targeted resumé, sharpening interviewing skills and learning how to market skills. The free seminar is open to all university employees. Register via e-mail.

For Students

This section will be updated occasionally during the winter break. Refer to the "Campus News" section for general information.


The Asian Pacific American Medical Student Association is hosting the talk "Hepatitis B in the Asian/Pacific Islander Communities," featuring Ray Kim, an associate professor at the Mayo Clinic, beginning at noon, January 16 at the Biomedical Research Building's Frohring Auditorium. Lunch will be provided by Kim's Catering. Following the talk, Jade Ribbon Campaign lapel pins will be distributed. For more details, send e-mail to Sravan Kakani.

Refer to the Web event calendar for a list of events and activities on campus and in the community today and in the days ahead.

January 10, 2008

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Case in the News

NetWellness site gets state fund infusion, January 8, 2008
The State Library of Ohio and Ohio Public Library Information Network will provide $421,000 of's $600,000 operating budget this year. NetWellness, operated by the University of Cincinnati, Ohio State University and Case Western Reserve University, offers 53,000 pages of health information, and attracts 15 million visitors annually.

Cleveland Councilwoman Patricia Britt accepts clerk position

The Plain Dealer, January 10, 2008
Cleveland City Council is likely to have a new clerk in time for Monday night's meeting. Council President Martin J. Sweeney said Wednesday that Councilwoman Patricia Britt has accepted the job he offered her last month. No opposition is expected from council members, who will have the final say on the appointment at a Monday afternoon caucus. Sweeney said Britt also will leave her job at Case Western Reserve University, where she is a faculty member at the Mandel School of Applied Social Sciences.

New year promises a thrilling ride

Crain's Cleveland Business, January 7, 2008 (subscription required)
Jack Kleinhenz, CEO of the economic consulting and money management firm Kleinhenz & Associates, offers an economic forecast for 2008. Kleinhenz also teaches economics at Case Western Reserve University's Weatherhead School of Management.

Higher Ed News

Call to arms for academic labor

Inside Higher Ed, January 10, 2008
Marc Bousquet's new book, How the University Works: Higher Education and the Low-Wage Nation, takes an uncompromising look at the way colleges employ those who teach -- and how many professors have done nothing as tenured positions have been replaced with adjunct slots.

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