December 21, 2004 11:29 AM

Giving new meaning to working your way through college
Posted by at 11:29 AM

Never mind those unpaid college internships or those co-ops that pay minimum wage, how about starting and running your own small business while attending college? In Business Week's "A Dorm for Dreamers and Doers," they profile a new concept in college theme housing at Babson... a dorm for entrepreneurs.

Now [Mark Prondzinski]'s one of 21 entrepreneurs living in Babson's E-Tower dorm -- an idea factory of sorts for students determined to launch the next big thing. The alternative housing option for undergrads is currently home to 12 businesses, from a maker of organic apple chips to a clothing line and a mobile DJ outfit. Located on Babson's Wellesley (Mass.) campus, E-Tower is equipped with a central office with a server, printer, copier, fax machine, and a conference room. Residents meet there for Sunday night brainstorming sessions -- and no one leaves until 100 ideas are up on the massive whiteboard.

There are similar programs at other business schools, like the R.H. Smith School of Business at the University of Maryland, but E-Tower is the first of its kind started for students, by students. In 2001, a group of undergrads pitched the idea of a living space where they could live and breathe entrepreneurship 24/7, and the higher-ups gave it the green light.