Thomas E. Parkinson

INNOVATION & ENTREPRENEURSHIP
Adjunct Lecturer of Innovation & Entrepreneurship

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Thomas E. Parkinson is a Partner with Woodland Venture Management, which operates two regionally-focused venture capital funds.  He is a partner in both Hopewell Ventures, a $110 million fund targeting the Midwestern United States and Adena Ventures, a $36 million fund investing in low income areas in central Appalachia. He is currently a Director of VHT, Vested Health and Mersive Technologies.  He was a director of TLContact until its acquisition 2007 and SageQuest until its acquisition in 2010.  He participates as a board observer with GamePlan and iTRACS.

Previously, he was the Executive Director of the Evanston Business Investment Corporation.  While there, he made and managed investments in more than 20 start-up companies, including Peapod, Everyday Learning and Illinois Superconductor.

Mr. Parkinson has taught courses in entrepreneurial finance and venture capital at the University of Illinois at Chicago, Northwestern’s Kellogg School of Management, the University of the West Indies and the Czechoslovak Management Center.  He holds a bachelor’s degree in Economics from Northwestern and an MBA from the Kellogg School of Management with a specialization in Urban Economic Development.

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Education
Master of Business Administration, 1985, Finance & Management Policy, Kellogg School of Management, Northwestern University
Bachelor of Arts, 1982, Economics, Northwestern University

Academic Positions
Lecturer, Small Business Finance; MBA Entrepreneurial and Venture Finance, College of Business Administration, University of Illinois at Chicago, 1997-2004
Lecturer, Entrepreneurship, Venture Capital, Development Finance, Kellogg School of Management, Northwestern University, 1993-1996
Principal Investigator, NCI, 1995-1995
University of the West Indies, Entrepreneurial Finance, University of the West Indies, 1993-1994
Czechoslovak Management Center, 1992-1992

Other Professional Experience
Partner, Hopewell Ventures, LP, 2004-present
Partner, Adena Ventures, LP, 2002-present
Partner, Woodland Venture Management, LLC, 2000-2012
Executive Director, Evanston Business Investment Corp., 1996-2000
Chief Financial Officer, Technology Innovation Center, Inc., 1990-2000

 
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Full-Time / Part-Time MBA
New Venture Development (KIEI-940-0)

This course counts toward the following majors: Entrepreneurship & Innovation

Formerly ENTR-940-0

Previously known as Innovation Lab I, this course is the logical continuation of New Venture Discovery (KIEI 462). If a student or student team has a business concept that they want to pursue further, they are encouraged to apply to New Venture Development. This course is focused on testing and validating product-market fit, user interfaces and experience and advancing to the development of a refined MVP concept. Teams are not expected to have programmers at this point as the focus is on using a variety of free ware to test the product/service. A significant portion of the workload for this course will occur outside of the classroom. Students must be prepared to test and validate their business model hypotheses by engaging with potential customers and industry experts. Within the classroom, students will be encouraged to share learning experiences and help other student teams. The course work will be supplemented by guest speakers who are experts in specific industries as well as functional areas and a pool of alumni and local mentors who can assist in the development of their businesses.

New Venture Development will be offered in the fall and winter quarters. Upon the completion of New Venture Development, student teams and faculty will determine whether a team should move to New Venture Launch. Other courses that are beneficial to take in advance of this course are: MKTG 961: Entrepreneurial Tools for Digital Marketing and MORS 952: Building Innovation, Teams, and Cultures Admittance to New Venture Development is by application only. The application is available here.. If a student wants to by-pass KIEI 462, they must identify that they are well versed in the process of design thinking and have already conducted significant market research to validate their business concept.

New Venture Launch (KIEI-942-0)

Formerly ENTR-941-0

Second part of the Innovation Lab sequence. This new experiential course is targeted to students who have business concepts that have been tested to determine that there is a compelling product-market fit. Innovation Lab II will focus on fine-tuning the business model, building out financial projections and preparing investor pitches. A significant portion of the workload for this course will occur outside of the classroom. Students must be prepared to test and validate their business model hypotheses by engaging with potential customers and industry experts. Within the classroom, students will be encouraged to share learning experiences and help other student teams. The course work will be supplemented by guest speakers who are experts in functional areas related to the business model canvas. In addition, students will have access to a pool of alumni and local mentors who can assist in the development of their businesses.
Student teams can be composed of students from other parts of the university, but at least one member of the team must be enrolled at Kellogg.
Students continuing from KIEI 940-0 need approval from Linda Darragh; students who have not been in KIEI 940-0 need to contact Tom Parkinson