Our Review of the Business Institute Program at the Robert H. Smith School of Business
If you’re a high schooler interested in pursuing business or entrepreneurship as a career, starting to prepare early is a great way to set yourself up for success. Students studying business or finance through specialized high school programs and career academies are already off to a great start. However, adding additional business education opportunities to the mix can make your plans and preparation for the future even stronger!
For students at Crossland High School and Potomac High School in Maryland, one great option to look into is the Business Institute Program hosted by the University of Maryland’s Robert H. Smith School of Business. This three-year program, recommended for any student interested in business or entrepreneurship, gives you the opportunity to learn both practical and academic skills for running your own business after graduation or completing further study in the field.
The Smith Business Institute Program is launching in the fall of 2024 and is a promising opportunity for eligible students hoping to expand their leadership and entrepreneurial skills. In this post, we’ll look at essential things to know about the institute and whether it would be a good fit for you.
What do Business Institute Program students do?
Students at the Smith Business Institute will attend half-day sessions at the UMD campus, including educational workshops, group activities, and discussions with Smith faculty and mentors. Topics you’ll study include running and managing a business, submitting and pitching business proposals, and the academic skills necessary to achieve these goals. At the end of your senior year, you’ll also participate in a business pitch competition that could even become a real project you launch in the future.
Since the program has not yet begun, there’s limited information on what you might do at each session. However, you can expect to work with UMD professors and staff alongside your peers on interactive learning experiences that will build your leadership abilities and business knowledge.
When does the Smith Business Institute Program take place?
The Smith Business Institute Program is a three-year activity, where you’ll begin in 10th grade and continue to participate throughout 11th and 12th grade. The program requests that students who apply make a commitment to stay for all three years.
Program meetings are held on three Fridays in both the Fall and Spring semesters. One monthly session will be held in October, November, and December in the fall; and in February, March, and April in the Spring. The Friday sessions take place from 8:00 a.m. to 1:00 p.m. and provide free transportation and lunch for attendees.
The program is held on the UMD campus at Van Munching Hall.
Who can apply to the Business Institute Program?
The UMD Smith Business Program is a local program for rising 10th grade students at two Prince George's County Public Schools (PGCPS), Crossland High School and Potomac High School.
Participants in one of the PGCPS CTE business programs—Academy of Finance, Business Administrative Service, Business Management, or Business Marketing—are especially encouraged to apply. However, any Crossland or Potomac High School student interested in entrepreneurship is eligible for the program.
Only rising 10th graders from these two schools are eligible; there are no exceptions.
How do I apply to the Business Institute Program?
The UMD Smith Business Institute Program currently has its application available here. The application is fairly straightforward and easy to complete. You’ll need to fill out basic information such as your email address, student ID, which PGCPS school you attend, and whether you’re a CTE business program student. There’s also a 150-word essay requirement, for which you’ll write about your interest in business, entrepreneurship, and exploring these fields through the UMD Smith Business Program.
The biggest requirement for applicants is interest and commitment to the three-year program. Academic performance is a less important consideration, and there is no minimum GPA required to apply. So if you’re passionate about entrepreneurship, don’t let grades or attendance rates impact your decision to apply!
How many students are accepted?
Currently, the Business Institute Program is limited to 30 students. For younger students who aren’t yet eligible, details might change by the time you apply. The program website says that “because this is the first year for this program, seats are limited to thirty (30) participants,” indicating that the size may grow in later years.
It’s unclear how this might affect other aspects of the application process. If you’re in middle school or just starting 9th grade, keep an eye out for updates if you’re interested in business or entrepreneurship and think you may want to apply in the future.
Are there any costs involved?
The Smith Business Institute is free for all participants, including transportation to and from your high school and lunch at institute events.
Pros and Cons
Pros:
Spread out schedule: For students who don’t want to add an extra responsibility to their schedule every week, the Business Institute Program makes a long-term learning opportunity a manageable time commitment. While you’ll be part of the program for three years altogether, there are only 6 meetings total during the school year. And since they’re held during the school day, it won’t take extra time out of your schedule.
Cost-free attendance: Many college programs for high schoolers are quite expensive. However, the Smith Business Institute is free, including transportation and lunch. This makes the program a great way of increasing your knowledge and supplementing classroom study that’s accessible to every student.
University affiliation: If you’re considering studying business at the college level, the Smith Business Institute puts you in contact with professors and mentors at UMD’s business school. While there’s no information available about whether this would help you get into the school, the connections you build through the program can help make you an impressive applicant. Either way, you’ll be able to learn whether it might be a good choice for your interests and goals. If you apply to other business schools, the certification you’ll earn from the Business Institute Program will be great to have on your resume.
Cons:
Newly launched program: Since this is the first year of the Smith Business Institute Program, there’s limited information about what you’d be doing at each session and how the program is structured. Nonetheless, applicants in 2025 and beyond will have this information, so it isn’t a long-term issue.
Our Review
The Smith Business Institute Program is a great option for any student at Crossland or Potomac High School interested in entrepreneurship. With a manageable time commitment, cost-free attendance, and opportunities for long-term skill development, the program is accessible to any student and a great way to prepare for the future! While you’ll need to be willing to make a 3-year commitment to the program, it will likely pay off in terms of learning outcomes and career preparation.
If you’d like to participate in a rigorous research program open to high schoolers, you may want to consider the Lumiere Research Scholar Program, a selective online high school program for students founded by researchers at Harvard and Oxford. Last year, we had over 4,000 students apply for 500 spots in the program! You can find the application form here.
Also check out the Lumiere Research Inclusion Foundation, a non-profit research program for talented, low-income students. Last year, we had 150 students on full need-based financial aid!
Alexej is a graduate of Princeton University, where he studied Linguistics, Cognitive Science, and Humanities & Sciences. Alexej works in college admissions consulting, and is passionate about pursuing research at the intersection of humanities, linguistics, and psychology. He enjoys creative writing, hiking, and photography.