SJSU Is the Epicenter of Small Business Enterprise and Job Creation

SJSU’s unique geography and direct support for Silicon Valley’s storied enterprise culture define us as fertile ground for growth and innovation. Learn more about our economic impact.

This story was originally published in the Silicon Valley Business Journal on December 6, 2024.

San José State University is the beating heart of downtown San José’s vibrancy. Our university is one of the premier, public higher education institutions in the country – noted by the recent No. 4 ranking by the Wall Street Journal/College Pulse Survey. Our impact isn’t constrained by campus boundaries. SJSU’s economic contributions go beyond 40,000 students, faculty, and staff being customers to downtown businesses – we are a driving force for entrepreneurship and growth in Silicon Valley’s core.

Spartan Village on the Paseo, the university’s newest off-campus housing – recognized with SVBJ’s Community Impact award – added nearly 700 new residents and year-round patrons for eateries and entertainment venues. This boon for businesses looking to bolster their workforce and revenue from enhanced downtown foot traffic is SJSU’s direct investment in the future of San José.

From the heart of downtown San José, SJSU’s reach extends to every corner of Silicon Valley and beyond. Explore SJSU’s research leadership at sjsu.edu/research.

Fostering a Culture of Entrepreneurship on Campus and Beyond

SJSU’s Lucas College and Graduate School of Business hosts the Entrepreneurship Lab (E-Lab) which, since 2009, embeds students in startups for a three-unit course featuring direct mentorship and networking. Since the initial cohort, over 200 students interned at 130 companies and 30% to 50% of participants in any given semester receive immediate job offers. Kevin Wick, ‘13 Entrepreneurship, is among many successful E-Lab alumni who create treasured businesses like Guildhall, downtown’s premiere esports, gaming and social venue. E-Lab keeps innovation, success and job creation local and augments downtown’s thriving business community.

The Business Honors Program in the Lucas College opens undergraduate students up to real-world consulting experience while earning college credit. In one project, students collaborated at the downtown office of public accounting firm Burr Pilger Mayer (BPM) to analyze cybersecurity trends, market responses, and SEC compliance to develop client recommendations. Students also gained private equity experience through partnerships with Donald Capital and Four Leaf Acquisition Corporation (NASDAQ: FORLU), an SPAC with a $55 million market cap. Working as analysts, SJSU students analyze data, build financial models, and formulate actionable recommendations, gaining direct and contemporary industry-relevant experience while enhancing professional networks and soft skills.

From their first years  through to a graduate education, entrepreneurial San José State Spartans are enveloped with a culture of pioneering innovation that forms the foundation from which they can realize their dreams.

Driving Downtown Recovery with Small Business Support and Collaboration

SJSU’s Small Business Development Center directly supports small business success in Silicon Valley by connecting entrepreneur mentors to local owners at no cost and with no equity requirement. SBDC programs help local owners with marketing, grants and loans, compliance and accounting workshops, pitch preparation, and go-to-market strategy consulting. SBDC helped generate over $250 million in new taxable revenue and over 5,000 new jobs across Santa Clara County. Part of a network of centers, SJSU’s SBDC opened in 2021 and its portfolio grew to 819 clients, including 36 with direct university affiliation. To date, 91 companies raised over $153 million in capital with SBDC coaching. For one recent SJSU-affiliated venture, SBDC helped secure a $265,000 SBA Small Business Innovation Research (SBIR) grant. From the Research Foundation hub in downtown San José, SBDC is a direct contributor to the city’s future and mutually benefits its students with long-term private sector partnerships and robust career prospects.

The interdisciplinary SpartUp Incubator Program fosters Spartan entrepreneurs — from idea to prototype to planning and fundraising. In the initial year, SpartUp brought together 200 aspiring student entrepreneurs and industry mentors for mock pitching and business concepting to expand SJSU’s enterprising spirit. Together with the SBDC, SpartUp builds long-term, sustainable support for homegrown job creation.

Co-founded by alumnus Dap Ashaolu, ‘05 Management, wife Be’Anka Ashaolu and her sister Jeronica Macey, Nirvana Soul is downtown San José’s cherished café and community hub. Pictured: President Dr. Cynthia Teniente-Matson at the King Library location which opened in spring 2024.

Anchoring a core downtown intersection, critically-acclaimed coffee shop and inclusive community space Nirvana Soul opened a second location at the Dr. Martin Luther King, Jr. Library at SJSU in 2024. Co-founded by alumnus Dap Ashaolu, ‘05 Management, Nirvana Soul is SJSU’s marquee private-public partnership that elevates a unique enterprise and supports Spartans’ business dreams. Nirvana Soul employees SJSU students, pays them prevailing wages, and directly coaches students on entrepreneurship.

The King Library’s Digital Humanities Center will, in part, host a novel City of San José and SJSU project, the AI Center for Civic and Social Good. The City’s $100,000 grant and matching SJSU funds will expand opportunities for AI entrepreneurs and startups, who will help establish downtown as a hub for AI. The university’s forward-facing policy on AI underpins this program and guides the university’s embrace of this promising field of technology.

SJSU’s unique geography and direct support for Silicon Valley’s storied enterprise culture define us as fertile ground for growth and innovation. Together with local entrepreneurs, SJSU stands as the epicenter of the future, investing in tomorrow’s tech leaders, industry disruptors, innovative groundbreakers and countless new jobs to come.

This article is part of the Silicon Valley Business Journal “Elevate” series, focused on positive institutional, corporate and organizational impact in downtown San José. Contributions from Marcus Ismael, Adriana Avila, and Cassie Meyers, University Marketing and Communications.

SJSU’s economic contributions go beyond 40,000 students, faculty, and staff being customers to downtown businesses – we are a driving force for entrepreneurship and growth in Silicon Valley’s core.