Month: September 2017

A Leap Toward Entrepreneurship

In August, ten aspiring UConn entrepreneurs delivered final business model presentations, marking their completion of the 2017 Summer Fellowship program, sponsored by the Connecticut Center for Entrepreneurship and Innovation (CCEI), The program is designed to help students and faculty develop the skills that they need to bring new products and technologies to market, and provide them with networking, professional services, and dedicated mentorship in order to maximize their odds of success.

Based on their presentations, and the progress that teams made over the course of the Summer Fellowship program, five of the ventures were selected to compete in the Wolff New Venture Competition, being held on Sept. 26, on campus.  The winner of that event will receive $15,000 to support the development of their venture.  Wolff Finalists include Eir Medical Devices, Hans Health, NataSure, Potentiometric Probes and Quantum Purification.

“Over the course of eight weeks, participants have an opportunity to practice core business concepts and skills, meet one on one with experienced entrepreneurs, and get introduced to leaders of professional firms that can offer them pro-bono assistance during the startup and the critical first year of their businesses.”, says CCEI’s managing director, Michelle Cote.  “Many of our mentors and program partners are UConn alumni. They tell us that they get as much value out of the program as the aspiring entrepreneurs do.”

The Wolff Prize is endowed through the Thomas John and Bette Wolff Family Chair in Strategic Entrepreneurship, established to provide leadership for teaching and research in the field of strategic entrepreneurship. The Wolff family has a long tradition of business success, personal philanthropy, commitment to the University of Connecticut. For more information about the Summer Fellowship Program and the Wolff New Venture Competition please visit ccei.uconn.edu

CTSBDC Advisor Receives “State Star” Award, Recognized Nationally

Matt Nemeth is Connecticut’s 2017 America’s Small Business Development Center (ASBDC) State Star recipient. The award is given annually to an outstanding SBDC advisor from each state.  Criteria include showing a strong commitment to small business success; making significant contributions to the state SBDC program; and being an exemplary performer.

“As a millennial and a bilingual speaker with restaurant and music experience, Matt adds diversity and strength to our team. It is my pleasure to honor his contributions to the CTSBDC and Connecticut’s business community with the State Star award,” says Emily Carter, State Director of the Connecticut Small Business Development Center (CTSBDC).

Matt and the other State Star recipients from around the country were recognized at the ASBDC annual conference in Nashville on September 5th, which included a show and reception at the Grand Ole Opry.

Matt credits the collaborative team of advisors at CTSBDC for the success he’s had working with his clients – “Being recognized as the 2017 CTSBDC State Star has been a great achievement that has to be credited to my amazing team.  I feel that without the support of such a knowledgeable, kind, and hardworking team I would not have the successes within my own client portfolio.”

Matt is a business advisor serving businesses throughout the Greater New London County. He has helped over 100 businesses start, secure financing, or strengthen their business since 2013.

Matt came to the CTSBDC with a lengthy professional background in the music industry as a musician and business owner.

Photo credit: American’s Small Business Development Center

Photo caption: Emily Carter, CTSBDC State Director (left) and Matt Nemeth, CTSBDC State Star (right)

UConn-TIP Summer Fellowship program

Jessica McBride, Office of the Vice President for Research

One day after national Start Up Day, 18 UConn students presented their experiences working with startup companies housed in UConn’s own Technology Incubation Program (TIP). The annual Summer Fellowship Research Day took place at the newly expanded TIP facility in Farmington at UConn Health.

For the past six years, academic departments at UConn and UConn Health have provided funding for UConn graduate and undergraduate students to gain research experience and be exposed to entrepreneurship with some of Connecticut’s high-potential technology startups. Students and startups engage in collaborations that offer students invaluable mentorships with experienced technology entrepreneurs and provide companies at UConn’s Technology Incubation Program with introductions to talented would-be employees.

Local entrepreneurs, faculty, university staff, an official from state government, family, and friends of the participants gathered at the Cell and Genome Sciences Building to hear what the students—and their mentors—learned over the course of the 10-week program.

All of the students, who come from both STEM and business fields, underscored the program’s uniqueness and the rare opportunity it provides young scientists and entrepreneurs.

“I had worked in scientific labs in the past, but this is my first experience with a startup,” said Joe Fetta, rising senior from the School of Nursing. “In a startup, you’re not only concerned with developing innovative science, you have to think about how to integrate your product into the market. It’s a whole new perspective.”

The contributions the students made varied depending on their backgrounds and the companies’ needs. Some students told the crowd important about milestones they helped their companies meet.

“This summer I helped Avitus Orthopaedics gain entry into several new markets. Our technology is now being used by surgeons throughout New England and the mid-Atlantic” said Enuma Ezeife, an MBA candidate from UConn’s School of Business.

Ezeife spent her summer immersed in sales and marketing for Avitus Orthopaedics, a medical device company developing novel instruments for minimally invasive surgery. According to Avitus CEO, Neil Shah, the startups who participate in the program gain as much as the fellows.

“We have been blown away by the quality of the students in the UConn-TIP Summer Immersion Fellowship program. After only a few weeks, we felt comfortable having Enuma meet with potential clients on her own. She really learned to speak their language,” said Neil Shah, Avitus CEO. “We’re still in the process of refining our sales strategy, and it became clear quickly that Enuma and the other UConn students from the program could really add value.”

Since founding director and UConn Health associate professor, Dr. Caroline Dealy, began the program, it has grown from just a few aspiring student scientist/entrepreneurs to a robust class of 18 UConn students in 12 different TIP startup companies. A faculty entrepreneur herself, Dealy is thrilled that the program has been able to grow and provide hands-on career training for STEM and non-STEM students.

“This year we had over 200 applicants for less than two dozen spots. There is clearly an appetite for this type of experiential fellowship,” said Dealy. “Now these students understand that entrepreneurship is how new cures, technologies, and devices are made available as products and services that benefit society. We are thrilled that the collaboration between UConn’s Technology Incubation Program, the Connecticut Center for Entrepreneurship & Innovation at the School of Business, and countless departments are allowing the program to continue to grow and expand.”

According to Dr. Radenka Maric, UConn’s Vice President for Research, the fellowship program is a win-win for both UConn students and UConn-TIP companies.

“Regardless of a chosen career path, entrepreneurial skills and abilities are highly valued and in-demand in today’s economy,” Maric said. “And we know that many of our UConn-TIP companies ultimately hire the student fellows they meet through the program as full-time employees, which helps Connecticut retain the talented young workforce educated in the state.”

State Representative Derek Slap, feels this is a critical part of growing the state’s economy. When speaking to the students, Slap encouraged them to put their new skills to use in Connecticut.

“You are doing amazing things. You represent the growth we need,” said Slap. “Instead of looking outside of Connecticut for your next opportunity, help strengthen our cities, help strengthen our state. We in the state legislature want to know what you need to make that possible.”

According to Dr. Mostafa Analoui, UConn’s executive director of venture development, the UConn-TIP Summer Immersion Fellowship is one of many methods utilized to support the mutual interests of the University, emerging companies like those housed at UConn-TIP, and the state of Connecticut.

“UConn’s Technology Incubation Program is the only university-based technology business incubator in the state and we have a proven record of success. UConn-TIP has helped over 90 companies that have raised $54 million in grants and $135 million in equity and debt since 2004,” Analoui said. “UConn-TIP helps new technology ventures accelerate business and scientific progress while leveraging UConn’s resources. We are committed to helping Connecticut companies grow and training the next generation of scientists and entrepreneurs for the state.”

2017 UConn-TIP Summer Immersion Fellowship Participants

  • Jayant Kanchinadham, M.B.A. candidate, School of Business
    TIP Mentor Company: Shoreline Biome
  • Kseniia Poiarkina, M.B.A. candidate, School of Business
    TIP Mentor Company: CaroGen Corporation
  • Enuma Ezeife, M.B.A. candidate, School of Business
    TIP Mentor Company:  Avitus Orthopedics
  • Ethan Cope, M.S., Professional Science Masters’ program, College of Liberal Arts & Sciences; matriculating D.M.D candidate, School of Dental Medicine
    TIP Mentor Company:  Oral Fluid Dynamics
  • Vijay Kodumudi, M.D. candidate, School of Medicine
    TIP Mentor Company: CaroGen Corporation
  •  Alex Gojmerac, M.S., Professional Science Masters’ program, College of Liberal Arts & Sciences
    TIP Mentor Company: Azitra
  • Ciera Hunter, B.S. candidate, Physiology/Neurobiology, College Liberal Art Sciences
    TIP Mentor Company: Connecticut Children’s Medical Center Innovation Center
  • Brendan Clark, PharmD candidate, School of Pharmacy
    TIP Mentor Company: Reinesse
  • Joe Fetta, B.S. candidate, School of Nursing
    TIP Mentor Company: Reinesse
  • George Andrews, B.S. candidate, Biomedical Engineering, School of Engineering
    TIP Mentor Company:  Avitus Orthopedics
  • Rosalie Bordett, B.S., Biomedical Engineering, School of Engineering
    TIP Mentor Company:  Connecticut Children’s Medical Center Innovation Center
  • Rachel Crossley, B.S. candidate: Pathobiology, College of Agriculture, Health and Natural Resources
    TIP Mentor Company: Torigen Pharmaceuticals
  • Meghan Farrell, B.S. candidate, Communications, College of Liberal Arts & Sciences
    TIP Mentor Company: Diameter Health
  • Stephanie Gomez, B.S. candidate, Medical Lab Sciences, College of Agriculture, Health & Natural Resources
    TIP Mentor Company: Medisynergics
  • Alyssa Matz, B.S. candidate, Molecular & Cell Biology, College of Liberal Arts & Sciences
    TIP Mentor Company: Torigen Pharmaceuticals
  • Orvy Polanco, B.S. candidate, Mechanical Engineering, School of Engineering
    TIP Mentor Company: Innovation Cooperative 3D (IC3D)
  • Taylore Westbrook, B.S. candidate, Computer Science & Engineering, School of Engineering
    TIP Mentor Company: Biorasis
  • Hao Xu, 2nd year Pharmacy candidate, School of Pharmacy
    TIP Mentor Company: Biorasis

 

http://www.newbritainherald.com/NBH-New+Britain+News/296311/program-gives-college-students-realworld-experience