USFSP entrepreneurs compete for start-up funding
Written by Meghan Hoodhood, Nov 22, 2011, 1 Comment
For college students in a struggling economy, there are two options after graduation: go big or go home. For many, this means securing a job, but for six university students, it means standing in front of three judges and selling them an idea.
“An idea stands out only because of the obsessive compulsion of the person behind it. Ideas are a dime a dozen. Relentless entrepreneurs are precious,” said Brent C.J. Britton, chair of Emerging Business & Technology Group at Gray Robinson.
On Nov. 17, three finalists from USFSP and the University of Tampa presented their start-up ideas at the student pitch competition on Gazelle Lab’s Demo Day. They pitched to a shark tank of CEO judges in hopes of winning $6,000 worth of funding toward their business models.
Nathan Schwagler, USFSP professor of entrepreneurship, noted to students the reality of uncertainty in today’s market.
USFSP student Ryan Raghoo shows judges his invention; an umbrella that folds up without getting everything wet.
“Change is happening at such increasing speed, that we can no longer accurately predict what is going to come next,” Schwagler said. “As a result, the optimal strategy is to be ‘flexative’ (flexible and creative) and to forge your own path, to believe in your ability to be the CEO of you. Don’t take it from me, take it from Steve Jobs: ‘It’s more fun to be a pirate than to join the Navy.’ ”
The student pitch competition, held at the Mahaffey Theater, is a part of St. Petersburg’s and Tampa’s Entrepreneurship Month, as well as Global Entrepreneurship Week. Gazelle Lab is a TechStars Network member, a mentor-driven, three-month investment program.
“You have the power to save the world,” Britton said. “Not just change it—save it. Entrepreneurship is the very essence of what it means to be human. We’ve been doing it for 10 thousand generations. Own it.”
After two minutes of presentations, and five minutes for questions, the judges decided on a portioned prize of $2,000 to three students.
One of the winners was Reuben Pressman, a USFSP senior entrepreneurship major. Two University of Tampa students also won for their ideas, including an innovative veteran college Internet community and an all inclusive toll transporter.
“All six of the presentations were tremendous,” said Will Jackson, professor for entrepreneurship and innovation. “It was very competitive and I’m sure a tough decision for the judges to pick.”
Pressman is a former Student Government vice president, and president of three different clubs at USFSP. He worked on the citywide student discount program Bulls in the Burg, involving over 60 businesses in downtown St. Petersburg. Pressman’s project hopes to give an answer to the question that’s followed him throughout his involvement in student government and student life projects.
“One thing nobody has been able to do is increase student engagement and attendance when it comes to events. Clubs are still using flyers and word of mouth to get people to attend events,” Pressman said.
USFSP student Rueben Pressman presents his invention that allows students to check into events by scanning their id cards with a smartphone attachment. Pressman was one of three award winners.
His solution: Check I’m Here.
“Check I’m Here will get rid of the paper sign-in sheets and let clubs slide students’ IDs on their mobile phones or tablets to check them into an event,” Pressman said.
The application could show statistics of on and off campus students, how many meetings they have attended and what department they are in.
“The option for clubs to instantly see key metrics and analytics about who attended their event also allows for a loyalty point system that might encourage more involvement,” Pressman said.
Giving clubs the ability to prove attendance could mean more funding and help to figure out more about their market. That information could show who doesn’t come to their events so they can keep in contact with emails and mobile notifications for those that did attend.
“I was really impressed with how thorough the student pitches were,” said Dino Eliadis, investor and president of DE Inc. “They were a lot better than some of the executive business pitches I see.”
Photos by Daniel Mutter/Feature photo: Judges deliberate over who should be awarded money to help start up their new business ventures.
ugh this is amazing and inspirational! loves