“ Perhaps with the Mountaineer spirit , we will come together with the common goal of change . Could we fail ? Of course . Are we going to fail ? I don ’ t think so .”
Chambers College of Business and Economics ’ new startup engine , create philanthropic venture capital funds to back the startups created by the engine and create a Center for Artificial Intelligence ( AI ) Management to explore AI opportunities in West Virginia .
As someone who has watched and studied market transitions for more than 50 years , Chambers ’ time and talent are a valuable gift . Under his leadership , Cisco went from $ 70 million in annual revenue to $ 47 billion , and 10,000 employees became millionaires .
“ I love setting goals that many people consider unattainable , and I love teaching people how to dream ,” he says . “ What I am trying to do now in West Virginia is bring all of that together .”
Like Smith , Chambers wants to reinvent education for the digital era by introducing entrepreneurship into every facet and supporting business development , innovation and investment . Chambers is currently volunteering 5 % of his time to providing expertise to WVU leaders like President Gordon Gee and Javier Reyes , Milan Puskar Dean of the business school , while also mentoring the students , faculty , staff and community members who are utilizing the school ’ s startup engine . He also gives financially to existing venture capital funds while helping create new ones to fund the fledgling businesses .
“ I love to build teams , and I am competitive to a fault ,” he says . “ I do billion-dollar acquisitions on a handshake , and that is really the currency I hopefully bring to this project . I am not perfect by any stretch of the imagination . I have made a lot of mistakes . I would argue you are more of a product of your mistakes than your successes . I will do whatever it takes to make this work . I love the work , and I love the people of West Virginia .”
Chambers believes the state ’ s strengths for diversifying its economic landscape lie in its natural resources .
“ Where does West Virginia go as we become a startup state ?” he says . “ We can be the leader in fast-water activity because we have so much fast-water access . We can be the leader
in remote work where employees can be close to Pittsburgh , Philadelphia , New York or Washington , D . C ., but live in an environment like Canaan Valley or Morgantown . We can be a leader in outdoor mountain biking , trails or hiking . We can create startups in each of these areas .”
Above all else , Chambers wants the people of West Virginia to feel free to dream of what could be without constraint or doubt — to dream of new business models , new technologies , new ways of living and new industries .
“ While there is no sure thing in life , look at how far we have come and how far we have the potential to go ,” he says . “ Perhaps with the Mountaineer spirit , we will come together with the common goal of change . If we don ’ t , the outcome is unacceptable , and every West Virginian knows that . Could we fail ? Of course . Are we going to fail ? I don ’ t think so .” •
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