You could do the same thing. Just be sure to grab as many people from outside your community as feasible, and try to weight the teams in such a way that there is a balance between the entrepreneurs and the newcomers. Diversity of background is essential, but balancing skill sets also brings strength to teams, so ask people to fill out a survey of some kind when they sign up to help you plan the teams.
Keep it inexpensive, provide food/booze where appropriate, and limit the capacity so that there is more interest than you actually invite (enabling you to try it again a few weeks later).
This is unlikely to change the entire culture of the college, but it will bring in new people, new ideas, and perhaps some of the participants will hit on an idea that they can build out into an actual business.