Category Archives: Business Plans & Competitions

Business Model, Customer Development Celebration | USASBE LAUNCH! |

Received an email the other day about a celebration / competition focusing on business models and customer development. Lots of mentoring and tools will be available for undergraduate participants. Check out the USASBE Launch competition website.

USASBE Launch! is an exciting global student startup competition designed to provoke and reward undergraduate students from any discipline who can

1) design an impactful idea,

2) identify, test and validate business model hypotheses using customer development tools and

3) show traction which measures how well a startup is delivering its business model and how well the target demographic is accepting that business model.

There is no required application process, but students can sign up to receive updates. There are no required fees or purchases, there is no required format or procedures. We will recommend a process and tools, and students can engage as much or as little as they desire. The ultimate goal of student participants should be to start a sustainable business and tell an engaging story . . . plain and simple.

via USASBE LAUNCH! | A New Generation of Possibility.

Shark Tank Campus Entrepreneurs, Ball Players Create Coffee Pouches

Just catching up on last nights Shark Tank and glad to see another campus entrepreneur doing well. College baseball players Pat and Matt hit hard with their coffee based chewing tobacco replacement. From the blog Shark Tank Success.

The two invented the Get Grinds Coffee Pouches while in college and playing baseball out in San Francisco, California as an alternative to regular chewing tobacco. By making their pouches using flavored coffee grounds and then adding the same ingredients found in energy drinks like Red Bull or the 5 Hour energy, they have essentially married two unrelated product’s in a rather unique form. The Get Grinds Coffee pouches is a perfect alternative to chewing tobacco and gives you an added boost at the same time.

Another unique advantage to the get Grinds Coffee Pouches especially if you already chew tobacco, is you do not need to continually spit. In Fact, it is encouraged not to spit because you gain more of the energy boosting ingredients by swallowing your saliva. No Kidding! You are essentially brewing the flavored coffee in your mouth. The only thing you need to spit out is the pouch when your done.

Love the flavors that these guys are offering. Also wondering if this could become a product that coffee consumers go for whether they trying to stop chewing tobacco or have never tried it. Here is a story on the ball players from Entrepreneur.

In 2008, after wrapping up their amateur season to return to California Polytechnic State University, San Luis Obispo, to finish their degrees, the two men took the saying a step further.

One too-hot night while working on an economics project, they decided to skip out on brewing a pot of coffee in favor of doing what comes naturally to baseball players: They stuffed wads of grinds in their mouths.

“The buzz kicked in and we said, ‘Shoot, we might be on to something,'” Canepa says.

That something was Grinds, tiny chewable pouches of flavored coffee grinds. Each pouch contains about as much caffeine as a quarter cup of coffee, as well as a smattering of taurine and B vitamins.

Soon after their discovery, the duo dashed off a business plan that snagged $3,000 in a competition at their school’s business department. Later that year, they won $15,000 in a similar schoolwide contest, and a handful of judges signed on as investors. In June 2009, less than a year after the idea was born, Canepa and Pezet officially launched their company, also named Grinds.

 

via Shark Tank Success Stories : Get Grinds Coffee Pouch.

Global Social Venture Competition Call for Entries | #socent #socinn

The Global Social Venture Competition is calling for entries. Deadline is 30 Global Social Venture Competition ImageJanuary 2013. “The Global Social Venture Competition (GSVC) provides aspiring entrepreneurs with mentoring, exposure, and $50,000 in prizes to transform their ideas into businesses that will have positive real world impact. In 2012, GSVC received over 600 entries from 50 countries.”

Here are a few of the eligibility rules.

Submitted ventures should plan to be financially sustainable or profitable; whether it is a commercial business or a tax-exempt organization, your venture must have plans to be self-sufficient on earned revenue.

Submitted ventures must be scalable long term. This criterion will mean different things for each business plan. Scalability will take into account the potential for growth of the business, both financially and in its social impact.

Submitted ventures must have a quantifiable social and/or environmental bottom line incorporated into their mission and practices.

Your team must include a graduate student current or within two years of graduation as of December 31, 2012 from any masters-level or post-graduate higher education program in any area of study in the world; the student must be actively involved in the venture i.e., actively participating in development of the business plan or actively working on the business.

Looking forward to tracking this one and supporting teams from Startup Mason and Mason Center for Social Entrepreneurship as they get involved.

via Global Social Venture Competition.

Ed-Tech Start-Ups Grilled by VCs in Business Competition | The Chronicle of Higher Education

Interesting piece in the Chronicle of Higher Education by Jeffery Young on education technology startups and a recent business plan contest. Glad to see my friends at U of Delaware and their students are working on some cool businesses.

Leaders of 10 education-technology start-ups had eight minutes each to pitch their business plans in front of an audience, get grilled by a panel of venture capitalists, and then face a popular vote online. The big prize: marketing help from Educause and Google.

The start-ups’ chief executives, most of them in their 20s and 30s, talked fast, and when asked by the expert panel what their biggest obstacles were or how they could succeed when others had failed, most answered in slick sound bites that had clearly been rehearsed.

Their mission was to clearly state a problem in higher education they were trying to solve, and then show how their tool would do it.That might sound simple, but one member of the expert panel, John Cammack, of Cammack Associates, said that it’s hard to find a budding entrepreneur who can also make a successful pitch. “It’s one in 50,” he said. He’s also looking for intangibles: “My job is to find companies that have the intellectual skills, the management depth, and really the resolve to take the idea to full realization.”

via Ed-Tech Start-Ups Are Grilled by Venture Capitalists in Business Competition – Wired Campus – The Chronicle of Higher Education.

Kauffman Foundation Grant to StartX (Stanford Student Accelerator)

There is so much going on at Stanford University that its almost impossible to keep track of all of the initiatives. StartX, an accelerator for university students, received a big commitment for additional funding from Kauffman. From the Kauffman Foundation press release:

The Ewing Marion Kauffman Foundation today announced an $800,000 grant to StartX, which runs a startup accelerator for university students, to support expansion and national scaling of the program.

StartX, formerly SSE Labs, was initially launched in 2010 by Stanford students to accelerate the development of the best Stanford student entrepreneurs through experiential education. Kauffman’s grant will help StartX scale its current services and build a model for replication.

“StartX has taken important initial steps to develop an experiential education-based program for founders at the university level,” said Wendy Torrance, Kauffman director of entrepreneurship who leads the Foundation’s curriculum development. “Our grant will help StartX further develop its curriculum and program and identify a model for replication, while bolstering its capacity to gather and analyze data on its work and crucial outcomes.”

StartX, a non-profit organization affiliated with Stanford University that takes no equity from its portfolio companies, has received applications from more than 6 percent of the Stanford student population each year. To date, StartX has supported more than 240 founders and 90 companies in several markets, including clean tech, biotechnology, enterprise, consumer internet/mobile, hardware, healthcare technology and social enterprise. In total, StartX companies have raised more than $70 million in funding.

Will be interested to see how it scales and would like to know how StartX differs from other channels students use to launch firms.

via Kauffman Foundation Announces Grant to StartX.

MSU Celebrates Student Entrepreneurship | Starkville Daily News

A few semesters ago, three students in my New Venture Creation class wanted to pursue the retail breathalyzer market. They chose to create a campus activity app instead. Today I learned from Steven Nalley at the Starkville Daily New that some Mississippi State students have pushed into the breathalyzer market and have done well with their idea (Night and Day Vending) on the business plan circuit.

Parker Stewart is a true competitor.

As CEO of Night and Day Vending, which distributes breathalyzer vending machines called IntoxBoxes, Stewart has entered several student entrepreneurship competitions in association with Mississippi State University. Jesus J. Valdez, a marketing research associate with MSU’s Thad Cochran Endowment for Entrepreneurship, said Stewart not only placed first in the MSU Investing in Innovation’s Student Elevator Pitch Competition, but also third in the student division of the Mississippi Technology Alliance’s New Venture Challenge in Jackson.

Valdez said Stewart’s competitive spirit stretches across the business spectrum and beyond.

“Every competition (Stewart has) been in, he’s placed in, which speaks volumes,” Valdez said. “Last night, there was a competition in bowling with a lot of student entrepreneurs, and he came in second.”

via MSU celebrates success in student entrepreneurship | Starkville Daily News.

2012 Wharton Venture Award Winners | Entrepreneurship Programs

Thomas Baldwin at the Wharton Journal has brief interviews with the 5 recipients of the Wharton Venture Award.

After a highly competitive selection process, five student-led ventures were selected to receive the 2012 Wharton Venture Award (WVA). The WVA Program provides selected student entrepreneurs with $10,000 in funding to pursue the development of their ventures during the summer between their first and second years. WVA is one of several high-impact programs sponsored by Wharton Entrepreneurial Programs (WEP) as part of its ongoing mission to foster entrepreneurship and innovation throughout the Wharton community.

1Docway (Samir Malik WG ‘13)

What: 1DocWay is an online doctor’s office. We connect hospitals with underserved patient populations, through our lightweight technology and implementation service. With 1DocWay, rural, elderly, disabled, and busy patients can schedule appointments online and see their doctor through our secure video chat platform. In doing so, we help hospitals expand their reach of services into underserved areas, building hospitals’ referral base; we work with underserved care facilities to increase access to specialist physicians and improve community health/wellness; and we help physicians improve scheduling flexibility and revenue by expanding their patient pool.

Inspiration: I had always been a start-up kind of guy. I had experience with a few prior startups and when I saw an opportunity to innovate in healthcare, from my perch as a healthcare consultant, I dove right in. Healthcare is a huge space in need of disruption.

Wharton: The HCM program has been a fantastic resource in that I have been able to connect to numerous brilliant colleagues who bring a wide range of perspectives on the healthcare space. My business has got many holes shot through it because of peers in HCM and that has made it stronger and more robust.

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