Dr. Steven Gray Takes the Lead at HKEC, Ushering in a New Chapter of Entrepreneurial Education and Support
Written by Monica Garza | August 2024
The Herb Kelleher Entrepreneurship Center eagerly welcomes Dr. Steven Gray, an accomplished Assistant Professor of Management at UT Austin’s McCombs School of Business, as its new Director. Gray joins the Center succeeding its previous Director, Dr. Luis Martins, who devoted eight years to empowering Longhorn entrepreneurs and innovators.
With a background in entrepreneurship research, Gray is now transitioning into a new chapter in entrepreneurship education. “My goal is to highlight all of the different ways for students to get started on their entrepreneurial journey,” he shares. Eager to learn more, we had the opportunity to speak with Gray about his personal background, his insights into the evolving landscape of entrepreneurship education, and his vision for the future of the Herb Kelleher Entrepreneurship Center.
Q: Tell me a bit about yourself and what your career journey has looked like leading up to your new role as director.
SG: Before starting my career, I studied psychology. I then began my professional journey as a consultant at IBM. During my time there, I worked on a range of projects with major clients, tackling issues from mergers to process optimization to privatization. That experience took me all over the world and exposed me to many interesting problems, projects, and ideas. It provided a nice foundation for me to start understanding the business world, but consulting was never the end game as a career path. While I continue to draw heavily upon that experience, at a certain point, I was looking for a new career path, and that’s what led me back into academia. It was something that I had always aspired to do, so I went back to school and pursued my doctoral degree at Washington University in St. Louis continuing my emphasis on psychology, but this time looking at it within the context of the workplace.
Not too long into my doctoral program, I became enamored with entrepreneurship as a focal area within which to study organizational life. The thing that really sparked my interest in entrepreneurship was actually going to events, competitions, hackathons, and getting on the ground and seeing people pitch their ideas. Seeing the passion, energy, and enthusiasm captured my interest and desire to better understand that journey — what factors enable entrepreneurship, but also, what are the barriers that can stand in the way? That’s essentially the path that led me into conducting research on entrepreneurs. The focus of my research has primarily revolved around understanding how entrepreneurs find their cofounders, identifying the challenges associated with that vital process, and discovering how entrepreneurs can be more successful in navigating their search for cofounders. I became a part of the HKEC community through my research, which has now led me to this new role as Director.
Q: What are you most excited for in your new role?
SG: I’m excited to get to support aspiring entrepreneurs at various events that bring people together who are wanting to work on new ideas. I am also eager to help channel the resources of the HKEC to those who need them, especially those who are in the earliest part of their entrepreneurial journey. Being able to point entrepreneurs in the right direction and help make their journey just a little bit easier, that’s what I’m most excited about.
Q: Tell me about some of the moments that have shaped your passion for entrepreneurship and education.
SG: There are a couple of distinct areas in which I feel especially bonded to or tied to entrepreneurship, the first being that I come from a family of entrepreneurs. My stepdad started his own business, and my stepbrother continued that business, so I got to see that as I was growing up. My father-in-law and brother-in-law each started their own businesses, and then my wife has had two successful startups along her career as well. I’ve been inspired by each of their journeys — fascinated, intrigued, and curious about the different experiences they’ve had. So that’s part of what shaped my passion, the family connection.
The other part that really inspired me was seeing the process of going from nothing to something in a really rapid way. In one of my research studies, we had a team that, over the span of just a couple of years, worked their way up to be included in CNBC’s Top 25 Upstarts list. Getting to watch that amazing success story firsthand was really fun, so that’s another thing that got me hooked [on entrepreneurship] as well.
Q: Connecting students with mentors is a core pillar of the HKEC’s work. Who has been a key mentor or influence in your life, and how have they impacted your journey?
SG: It is definitely hard to narrow it down — I feel very fortunate to have had so many great mentors throughout life, and the message I hope students takeaway is that having a mentor is a very useful and important thing at every step along the way. In my time at UT, Caroline Bartel (Chair of the HKEC Advisory Board) and Luis Martins (former Director of HKEC) have both been instrumental in providing opportunities for me. During the recruitment process when I was still a doctoral student and was looking for my first role as a faculty member, they were both champions and advocates for me. All along the way throughout my time at UT, they have been there to support me as a researcher and connect me to opportunities that have allowed me to further my career. I owe a lot to both of them for seeing opportunities and ways in which I can expand my impact, and I am so very grateful to both of them for their advocacy and support of me.
Q: What trends do you see shaping the future of entrepreneurship education, and how do you plan to position the center to be at the forefront of these changes?
SG: A few things I want to remind myself of as I’m thinking about this question are: What is not going to change? What is the foundation? And then, what are some of the opportunities on the horizon to reinforce and enhance that foundation? I believe that effective entrepreneurship education follows a model of “guided experience”. Entrepreneurship is not something you can simply learn in the classroom — experiential learning is going to be an intrinsic part of entrepreneurship education. But that experience needs to be guided by those who have come before you. And so, it’s about having mentors, faculty, staff, and peers available to provide advice, guidance, and support during your journey.
Guided experience has been and will continue to be the underlying foundation of entrepreneurial education. But, one new trend that I am hoping to embrace is the role of AI. Regardless of the exact nature of a venture, AI will be a necessary tool for founders, and as a result, the way in which we deliver the education side needs to prepare students for that. So, how can we incorporate AI as a learning tool that can aid entrepreneurship education? And, how can entrepreneurs, regardless of their industry, leverage AI to help develop their venture? These will be key questions at the forefront of our thinking as we evolve our approach to entrepreneurship education.
Q: Young founders are facing new and unique challenges as they emerge into the industry. What advice do you have for founders feeling intimidated to start their entrepreneurial journey, and how do you plan to utilize your role as director to empower them to rise above?
SG: There are often these visions of people standing on stage and pitching to a panel of investors, trying to raise seven figures, but that’s not where the entrepreneurship journey starts. For some, that daunting image keeps them away from entrepreneurship. My hope is that we can highlight for aspiring entrepreneurs several on-ramps for their entrepreneurial journey. If the idea of pitching to a panel of investors seems too intimidating to some, then maybe attending an informal networking event is a more helpful starting point. Or, perhaps a better choice might be enrolling in an introductory entrepreneurship course to gain some of the foundational knowledge about starting a new business. We want to offer students a menu of options so that they can choose the best way for them to engage and begin their entrepreneurial journey. Ultimately, the hope is that we can increase access to entrepreneurship, broaden our reach, and invite people in who have a desire for an entrepreneurial career.
Q: Thinking about the future, what is your vision for the center? What does growth and evolution look like to you?
SG: One of the things that is special about the HKEC is that it has long been at the forefront of entrepreneurial activity, not just in McCombs, but also across the University, which positions the Center to be a hub of connections for student entrepreneurs across and beyond the 40 Acres. We’re in this incredibly resource-rich environment, not only at UT, but Austin more broadly, which is very exciting, but also overwhelming for many students. I hope that we can be a tour guide for students to help them find the right place within this robust ecosystem.
To be even more concrete about one specific example of how that might look, my research has highlighted the importance of finding the right cofounder. And, one of the biggest challenges in finding the right cofounder involves establishing a close connection between business talent and technical talent. Thus, one of our new priorities, in addition to investing into our existing programs, will be to explore new ways to build even stronger ties between McCombs entrepreneurs and UT’s expansive technical talent.
Q: When you look back on your tenure as director, what legacy do you hope to leave behind for future generations of student entrepreneurs?
SG: The main goal is bigger, wider on-ramps to an entrepreneurial career. I hope to leave a legacy where students have different, approachable entry points to an entrepreneurial career. Whether you start out at a big firm and then start a new business later on, or you start out as an employee at a startup, or you have your own venture that is already up and running when you graduate, I want HKEC to be a partner for students seeking an entrepreneurial career, whatever that path might look like. The focus, energy, and emphasis on entrepreneurship at McCombs and at the University level is at an all-time high. It’s an exciting time to be a part of the HKEC!
Gray’s inspiring journey to entrepreneurship and dedication to innovative approaches will certainly bring a fresh perspective to the future of entrepreneurship education. Gray’s mindset will undeniably make him an incredible asset to the HKEC’s efforts in fostering an environment that encourages innovative thinking, entrepreneurial action, and the pursuit of new ventures. We are thrilled to have him leading the reigns as he embarks on his next chapter toward empowering the future generations of innovators at the Herb Kelleher Entrepreneurship Center.
The HKEC offers a variety of dynamic resources to UT Austin students, including competitive funding opportunities, networking events, informative article series, mentorship and more. To learn more about the entrepreneurship resources that the HKEC has to offer, visit our website and subscribe to our newsletter to get involved with future opportunities!
