“I would not be at the level I am at right now without IEI or the Lori Bush Seed Fund,” says Stephanie Taylor, CEO and founder of TailorFit Laundry LLC. “And I’m really grateful for that.”
Recently, three beneficiaries of the Lori Bush Fund, Stephanie Taylor, Emily Kight and Heather Jones sat down together in the new Accelerator at the Innovation & Entrepreneurship Institute (IEI) to discuss their careers, the role that funding played in furthering their business ventures and offered advice to women entrepreneurs.
The Lori Bush Seed Fund provides funding to women entrepreneurs ranging from $500-$10,000 based on defined needs. Funds are provided with the purpose of supporting companies in proving their concept, and where the money will have a significant impact on the company’s ability to progress.
The fund, much like its namesake, supports ideas and models that advance women in entrepreneurship. Lori Bush, MBA ‘85, is the former CEO of Rodan + Fields. During her time there, she guided the skincare company to an annualized run rate of over $1B in revenue. To learn more about Lori Bush, click here.
Taylor, a full-time student at the Fox School, taps IEI’s extensive resources to elevate her business, especially while the company is in the startup phase. Since she was awarded funding, TailorFit Laundry, a mobile laundry service based in Philadelphia, has a host of recurring customers and is being discovered on Google by visitors to the area, including a Los Angeles Lakers sports commentator. She has also seized the opportunity to promote her business during events such as Temple Fest.
She advises women entrepreneurs to believe in their ideas and to dive in headfirst. “You have to know your worth in order for others to know your worth,” she says. “And if you overthink it, you’re never going to jump. That’s what you have to do, you have to just jump.”
In 2017, Emily Kight, BSBIOE ‘18, won second place in Be Your Own Boss Bowl®) (BYOBB®), a business plan competition hosted by IEI. She pitched Prohibere, a leave-in conditioner that she created to lessen the effects of trichotillomania (TTM), a hair pulling disorder that Kight has personal experience coping with. With the funding from BYOBB and the Lori Bush Fund, she was able to manufacture, create packaging and launch digital marketing for Prohibere, which is now available on Amazon.
“Being selected to compete in BYOBB® and other competitions is nerve-wracking because I had never really talked to anyone about this hair pulling disorder that I have had for 20 years,” says Kight. “I’m not big on public speaking, and this was the last thing I wanted to talk about in front of an audience, but it really helped to get started.”
When getting started with a business, Kight suggests, try to remember that failing isn’t a bad thing. “Failure is how you grow and develop as a businessperson.”
She recently decided to move on to her next challenge and is using her bioengineering education to develop a urine test used to screen for ovarian cancer. Funding from the Innovative Idea Competition, BYOBB® and GoFundMe has helped her partner with an R&D laboratory with the goal of creating an affordable, FDA-approved test prototype.
When Heather Jones came up with the idea for her company Luci, she knew that she
wanted to come back to her alma mater, Temple University, for help from the Fox School. She went to IEI for help building out her concept: a community-driven, multi-benefit skin care line made with vegan, cruelty-free ingredients set at a price that millennial and Get Z consumers could afford.
The line launched in September of 2018 and currently has multiple retail channels. The Luci team is now focused on growing their Glow Getter program across college campuses, where brand ambassadors can earn commission while sharing and promoting Luci products. Luci products are made in Milan, Italy, so the money Jones was awarded from the Lori Bush Fund helped her develop packaging, with shipping logistics and supporting marketing efforts.
“The best feedback is when you get it from the customer. As entrepreneurs, we have to pivot very quickly based on what people say. For me, that has been a very important thing to take on,” she says.
Interested in finding out how IEI can help you achieve your entrepreneurial goals? Visit iei.temple.edu.
With $7,000 in prize money on the line, five startups walked away with the cash to grow their ideas at the 21st Annual Innovative Idea Competition in November. The Innovation & Entrepreneurship Institute (IEI) at Temple University’s Fox School of Business hosted the contest, which focused on innovation, entrepreneurship and education.
Big ideas were transformed into reality for the five winning pitches. Grand prize winner PureTrip walked away with $3,500 in winnings for a portable, efficient and lightweight washing/drying machine concept. Created by College of Engineering (ENG) seniors Salmon Alotaibi and Yaqoub Bushehri, the PureTrip team also won the “Crowd Favorite” category.
“The washer can be applied in the real world in multiple ways—military, hikers and even third-world countries can use the equipment for different purposes,” says Bushehri. “We’re creating a prototype with more awareness to attract investors before commercializing and trying to figure out the rights to our idea.”
In the “Innovation” category, Athlete Crush won for a sport-specific, user-generated mobile platform that revolutionizes the way athletes and fans connect. To help athletes build and monetize their brands easily, professor Thilo Kunkel of the School of Sport, Tourism and Hospitality Management (STHM) developed a way to help fans learn more about their favorite athletes, and provides athletes with a platform to promote social good through the medium of sport.
“The idea came while working with professional soccer player Michael Lahoud,” says Joonas Jokinen, Athlete Crush COO. “Michael cares deeply about his homeland of Sierra Leone. He even built a school there. But as a successful athlete, he was having trouble growing his brand. That’s where our idea and inspiration came from.”
Another pitch, Invest Out, founded by Tyrone Glover, FOX ’96, won first-place in the “Upper Track” category. Glover’s company partners home sellers with houses that could potentially sell for more if renovated with capital from interested investors.
“We’re currently beta testing the model with a limited target of area home owners and investors through www.investout.net,” says Glover.
The first-place winner in the “Undergraduate” category was Mouse Motel, a modernized mouse glue trap founded by ENG senior Paul Gehret.
“My dad and I knew how ineffective classic glue traps were and wanted to design a new one that would remedy the (mouse) problem,” says Gehret. “Mouse Motel was our solution. Through many experiments in our basement, we achieved a much higher efficiency than the glue traps that are commercially available.”
Other award-winning ideas included second-place “Upper Track” start-up Miranda, an online legal tech company that provides on-demand, 24/7 remote legal service. Founded by Fox graduate student Nikolas Revmatas, the idea came from Revmatas’ first-hand experience of navigating the U.S. legal system as an international student.
“I’ve had to figure out a fragmented legal system that is often expensive and intimidating,” says Revmatas. “In most cases, I only needed a few minutes of a lawyer’s time. I always wished there was a way to quickly, conveniently and affordably get legal advice, so I decided to create one.”
Founded by Rahul Nimmagadda, FOX ’19, and Jonathan Huynh, FOX ’19, another second-place winner was Mailroom in the “Undergraduate Track”. Mailroom is a digital platform that connects people with trusted small businesses and peers in their community to receive packages.
“We’re looking forward to making a difference in our communities by turning ideas and prototypes into a fully functional Mailroom mobile application that consumers can use,” says Nimmagadda. “We’re hoping that by this time next year, we’ll be making a dent in the package delivery problems that Philadelphians face.”
List of Winners
PureTrip – Salmon Alotaibi, ENG ’19 & Yaqoub Bushehri, ENG ’19
GLOBAL INNOVATION PRIZE
Athlete Crush – Thilo Kunkel, School of Sport, Tourism and Hospitality Management
1ST PLACE – UPPER TRACK
Invest Out – Tyrone Glover, FOX ’96
2ND PLACE – UPPER TRACK
Miranda – Nikolas Revmatas, FOX ’19
1ST PLACE – UNDERGRADUATE TRACK
Mouse Motel – Paul Gehret, ENG ’19
2ND PLACE – UNDERGRADUATE TRACK
Mailroom – Rahul Nimmagadda, FOX ’19 & Jonathan Huynh, FOX ’19
1ST PLACE – CROWD FAVORITE
PureTrip – Salmon Alotaibi, ENG ’19 & Yaqoub Bushehri, ENG ’19
2ND PLACE – CROWD FAVORITE
Mailroom – Rahul Nimmagadda, FOX ’19 & Jonathan Huynh, FOX ’19
Over the summer, the Fox School brought together the top academic marketing researchers from all over the world to present on some of the most pressing issues in marketing science at the 40th annual INFORMS Society of Marketing Science (ISMS) Conference. Professor Xueming Luo, Fox School’s Charles Gilliland Distinguished Chair, served as the general chair for the event that delved into topics like cryptocurrency, artificial intelligence, the shared economy and autonomous driving.
“The conference was a great way to learn about the cutting-edge ideas top scholars are developing, and it is also a great forum in which to discuss research with other scholars outside of our own institutions,” says Michelle Andrews, a graduate of the Fox PhD Program and assistant professor of Marketing at Emory University.
With over 850 attendees, the ISMS Conference appealed to a broad audience that included professors, marketing executives, doctoral students and others. Andrews presented on why marketers should invest in search advertising on mobile. Newsworthy companies like Amazon, AirBnB and Uber were vigorously discussed in terms of marketing algorithms, customer targeting and Big Data.
“The unique thing about the conference was that we presented our research, but there were also opportunities for CEOs to give feedback and share their ideas with the academic community,” says Luo.
Planning is already underway for future ISMS conference sites, with Rome hosting in 2019 and Duke in 2020.
Additionally, the National Innovation Conference was hosted at the Fox School in May 2018. With over 200 registrants, professionals and their families networked and discussed the latest in innovation.
“Every two years, the Greek America Foundation hosts a conference that focuses on prominent Greek-Americans, or Greek-related people who have done innovative work,” says Angelika Dimoka, director of the Center for Neural Decision Making at the Fox
School. “The 2018 conference featured several people of Greek origin who came up with creative business ideas during the unrest in the Greek economy.”
NIC hosted an impressive lineup of Greek-American professionals in the contributed commentary regarding innovation and entrepreneurship in the areas of food and beverage, education, nonprofit, science and business. Panels included dynamic women speaking about their professional experiences to “Slay in Your Lane” in the wake of the #MeToo movement, and a discussion around innovation of traditional Greek foods into upscale, modern culinary art in “Food 2.0.” The conference also offered Camp NIC to children of attendees, with hands on innovation-themed activities in food, arts and chemistry.
Other impressive contributions to the event included Huffington Post’s Arianna Huffington’s “Be Fearless” message, as well as presentations from Axios Wines master winemaker Gus Kalaris, President of NowThis Media Athan Stephanopolous, and tech entrepreneur and chairman of Roa Ventures John Roa.
Just one year into business, Jared Cannon, MS ’16, founder of the healthy eating startup Simply Good Jars (SGJ) is making a bold pivot away from individual food-in-jars subscriptions toward a smart refrigerator model that the company says will offer growth and sustainability.
“Over the summer, our waiting list grew to over 750 people,” said Cannon. “So we decided to shut down subscriptions and move to a vending model.”
The decision may seem strange given the popularity of meal subscription services like Hello Fresh and Blue Apron. However, customer loyalty and enthusiasm gave SGJ instant credibility in 2018, when Cannon was selected as a Philadelphia Inquirer Stellar Startup finalist and Independence Blue Cross named him a semifinalist for the Health Hero Challenge.
Cannon and his team are working on securing the capital needed to bring their jars to smart fridges. Plans include nearly 40 of these refrigerators in coworking spaces across Philadelphia. SGJ is already in locations that include WeWork, Pipeline and the Brandywine Liberty Trust corporate office. Business success will mean changing lunch culture at work by building a customer base that is willing to pay for the convenience of healthy, delicious breakfasts and lunches.
There’s a shift happening in the startup landscape, according to Cannon, an energy that is motivating entrepreneurs to solve problems in cities rather than vice versa. He feels a personal responsibility to serve as a part of the solution, something the northern Delaware native may have gained from an unlikely upbringing. Before the chef-turned-entrepreneur took off on his tasty endeavor, Cannon benefited from some unusual experiences.
“In seventh grade I enrolled at a Democratic Free School to learn as an individual,” he said. “There weren’t classes, report cards or standardized tests.”
Cannon attributes his unique perspective as a business owner to his self-governed education. He was given permission to develop differently and to dabble in things he may have never tried—like engineering, computer mechanics and construction. Food wasn’t a focus at the Free School, but at home Cannon learned to love the culinary arts. In their kitchen, the big Cannon family came together. They also instilled a general enthusiasm for the outdoors in their children, which shaped Jared’s value system.
“I think something that’s baked into my generation is an awareness about how our product choices affect the environment,” he said. “My parents taught me to value food and not to waste it—that’s something I’ve carried into my business model.”
Social enterprise is also shifting at SGJ. Instead of contributing meals to Philabundance, the company is now donating funds to help support the Philabundance Community Kitchen. Beyond financial help, Cannon’s team is engaging with the Community Kitchen’s job placement and internship program to offer jobs to their low-income participants and graduates who hope to begin careers in the culinary field.
“We’re young, we’re growing, and there’s nothing better than working on something that you’re passionate about,” said Cannon. “The human element behind a product is the powerful differentiator.”
Beyond the business pivot, there’s more big news for Cannon and the SGJ team. He’s an expecting father just two years out of Temple and a year into business. And beginning in November, SGJ will celebrate another first—a stall at Reading Terminal Market that will be open from Sunday to Thursday, 9 a.m. to 6 p.m. A refrigerator will be on site, though it won’t be smart. Exclusive breakfast and lunch jars will be sold, created in collaboration with other Reading Terminal vendors like Old City Coffee, Martin’s Meats and Sausages, Iovine Brothers Produce, Godshall’s Poultry, Pequea Valley yogurt and Condiment.
“The most stressful thing right now is having all of these dynamic people around me who have bought in, and are taking the risk with me,” he said. “I’m learning how to be the fearless leader that I’m supposed to be, and I take it very seriously that it’s not just me anymore.”
On a bluebird Tuesday morning in Alter Hall, the Fox School of Business hosted the 19th annual League for Entrepreneurial Women’s Conference. With nearly 300 people in attendance, this year’s conference was the largest to date, evidence of strong interest in investing in female innovation. According to stats from the Women’s Business Owner’s Association, there are 11.6 million women-owned businesses in the U.S.—yet only 17% of startups are headed by women.
“From recognizing women who have excelled in the fields of law, business, theater, and sports, along with advice about how to ‘Ask for What You Want’ from entrepreneurs, to the three current students pitching their ideas, the conference represented a true cross-section of entrepreneurship,” said Ellen Weber, executive director of Temple University’s Innovation and Entrepreneurship Institute (IEI).
As the keynote speaker, Yasmine Mustafa (Fox ’06) shared her story of perseverance and inspiration as an undocumented immigrant who is now a proud American citizen and co-founder and CEO of ROAR for Good. As a wearables startup, ROAR for Good helping thousands of women to feel safer around the world. Mustafa relayed a few small business learnings she’s come to embrace over the past few years:
- Others are happy to help
- Get as many no’s as possible
- Give, give, and give some more
Four Temple alumni were inducted into the League’s Hall of Fame during the event, including Arbill CEO Julie Copeland, Blackstar Film Festival founder Maori Karmel Holmes, Axelrod Firm president Sheryl Axelrod, and retired professor and diversity trailblazer Tina Sloan Green. Generosity in words and actions abounded as Copeland doled out “Weapons for Success” to young entrepreneurs in the audience:
- A sense of belief in yourself
- Gratitude, even in the worst times
- Show up every day with love
In candid conversation, Temple Executive Vice President and Provost Joanne A. Epps made a pitch to start-ups to move the needle in innovation.
“I do think it’s important to change the numbers, change perspectives and attitudes,” she said. “It matters profoundly that we don’t have enough female leaders.”
Making pitches of their own, three young entrepreneurs had the opportunity to let the room in on what they were up to. Two Temple students—Stephanie Taylor of TailorFit Laundry and Emily Kight of Ovarian Lab & Biomaterix, gave three-minute pitches. Adding one final voice, eighth-grade student Anna Welsh, founder and CEO of Little Bags, Big Impact, shared her textile recycling business model with a bit of social enterprise mixed in for good measure.
“I design, hand cut, and sew small bags from locally sourced materials,” she said. “I have an accountant, a lawyer, have received an official U.S. trademark, have sold over 1,000 bags and employ two people two part-time. Expansion plans include moving my business out of my parent’s house.”
The Innovation and Entrepreneurship Institute‘s 20th annual Be Your Own Boss Bowl®, where Temple University students and recent alumni live pitch their bold business ideas, happens Thursday, April 19, at Alter Hall, home of the Fox School of Business.
The 12 finalists will compete for $200,000 in prizes, which will help launch their businesses and take them to the next level. For more information, and to RSVP to the live pitch contest, click here.
In preparation for BYOBB® 2018, we spoke with several past winners and finalists to learn more about the state of their businesses back when they competed, where they are now, and what their next big move will be.
Founder: Joe Green, BBA ’12
About Affinity Confections: “Affinity Confections creates pastries and desserts featuring premium natural ingredients without any artificial flavors or colors. All of our confections are created to be portion controlled and seasonally inspired to highlight seasonal flavors.”
BYOBB® 2015 prize: Third place, upper track ($5,000)
Then: “We were in the growth stage of the business, framing out additional revenue streams, but we were already profitable as a company during the pitch. We wanted the prize money to build out operations.”
Now: “We are currently in another growth phase, expanding our baking operations and creating more packaged products for retail sale. We’ve also gotten several contracts in Philadelphia, with institutions such as University Of Pennsylvania and CHOP.”
What’s next: “We’re working on building production and retail space.”
Founder: Jung Park, BBA ’16
About Cocktail Culture: “Cocktail Culture Co. offers a booking platform for immersive experience-based activities such as cocktail classes and whiskey tastings. We teach the art & craft of mixology with freshly squeezed juices, homemade syrups, and premium ingredients. Our interactive classes offer a promotional channel for liquor brands to market their products for consumer purchase and usage.”
BYOBB® 2016 prize: Third place, undergraduate track ($5,000)
Then: “We were going through the formation/ideation phase. I was still brainstorming the concept, sizing the target market, figuring out how to create value for the consumer, and how to make the idea scalable.”
Now: “We are in the middle of the validation stage. Last year, 2017, was our first real year in business! The first six months were kind of scary, but we saw all our hard work pay off after August. After August was still scary, but a different type of scary, because we were getting flooded with sales and it was definitely overwhelming for our small staff. Some other big changes and growths we had since we were in the BYOBB® ? Well, our website isn’t on GoDaddy Website Builder anymore, so that’s good! That was definitely an ugly time for us. In the beginning, when you don’t have money, resources or help in general, you’re forced to do everything yourself, even when you’re not good at it). We also got a real logo and we’re building traction on corporate sales. We’ve served major names, like Viacom, Microsoft, and ATKearney; and we’re doing an event with the National Air Traffic Controllers Association, so that’s exciting. We’ve been chasing bachelorette parties for a whole year (and some change), so we’re happy to see our hard work pay off. We have bachelorette parties all the time now and they’re almost always $500 to $1200 sales.”
What’s next: “The next step for Cocktail Culture Co. is more sales! We’re trying to figure out the maximum market potential in Philadelphia right now. Last year was proof that it’s a profitable concept. We’re getting our numbers up at our current location and figuring out if it’s a good idea to open a second location in the Philly suburbs. We’ve been talking a lot about Atlantic City in the past two months, so I’m hoping that works out by the end of this year or beginning of next year.”
Founder: Andrew Nakkache, BS ’16
About Habitat: “Founded in 2013, while at Temple University, Habitat is a Philadelphia-based company passionate about helping local businesses and committed to accelerating new ways to live and work within the ‘convenience economy.’ Today, Habitat helps restaurants by providing them a single delivery fleet for all of their orders. We do this through aggregating orders from various ordering sources (Grubhub, Eat24, Phone-ins, etc.).”
BYOBB® 2015 prize: First place, undergraduate track ($21,000)
Then: “We were trying to do too many things then. Our app was a hyperlocal marketplace that looked like Instagram, and functioned like Craigslist, but only for college students and local businesses.”
Now: “We pivoted twice since the BYOBB®. Our first pivot was to focus on food delivery on college campuses: think Caviar for campuses. This pivot gave us focus and insight into the market, which ultimately led to our more recent and successful pivot. We realized that restaurants had a much bigger pain around managing online orders rather than receiving more of them. We’re now B2B, working behind the scenes, and the best part is, as Grubhub gets bigger, so do we!”
What’s next: “This year is all about distribution partnerships that give us scale. We recently signed two partnerships with online ordering companies that have over 50,000 restaurants combined!”
Founder: Nick Delmonico, GMBA ’17
MBA concentration: Health Sector Management
About Strados Labs: “For clinicians seeking critical respiratory data, Strados utilizes proprietary technology to collect and transmit data in a simple, non-invasive manner, improving outcomes and saving money.”
BYOBB® 2017 prize: Grand prize; First place in the Urban Health Innovation track ($60,000)
Then: “Strados Labs had designed a proof of concept prototype and conducted several customer journey maps and studies. As an early start-up, we focused heavily on understanding the pain points of our stakeholders, both patients and caregivers in managing and monitoring exacerbations and complications due to airway compromise. We found that there was a major data gap between what patients knew about their own signs and symptoms and what care teams know about patients in advance of a hospitalization event. We competed in BYOBB® to raise the necessary funding to further the development of our product, and to refine our value proposition to health organizations.”
Now: “Since 2017, Strados has raised more than $200,000 through a combination of business competitions, grants, and early investors. We have finalized our minimum viable product (MVP) and are in the process of conducting a clinical study at a major health system in New York. We have also participated in three globally ranked accelerator programs including NextFab RAPID, Brinc.io Global IoT, and Texas Medical Center Accelerator (TMCx) Cohort 6. The programs not only provided access to capital, but enabled our company to create collaborative partnerships with leading health institutions and care platforms across the country. Strados expanded its management team to include a highly experienced medical device CTO with successful exits and a clinical advisory team that includes physician leaders in pulmonary medicine and respiratory therapies with multiple successful medical devices and drug launches.”
What’s next: “Strados will be launching pilot studies with clinical partners over the course of the summer and will be moving the Strados product further through a full commercial launch. We have some additional partnerships in the pipeline that we are excited to announce in the near future.”
Founder: Lisa Guenst, BA ’13
Major: Community and Regional Planning
About ToothShower: “ToothShower is an oral home care suite for the shower.”
BYOBB® 2017 prize: First place, upper track ($20,000)
Then: “It was our first business plan ever written and there was no revenue. We were in the prototype stage.”
Now: “We have our tooling completed from money we raised on crowdfunding—we raised more than $325,000 through Kickstarter and Indiegogo. And our first run sample has been tested and we are waiting for our second sample to test.”
What’s next: “Once we deliver the product to our crowdfunding backers, we will move into ecommerce sales.”
Founder: David Feinman, BBA ’15
Major: Entrepreneurship, Marketing
About Viral Ideas Marketing: “At Viral Ideas, we create to inspire. We work with companies as their dedicated video partner. We are a modern video production company built for new media. We believe in the power of defining companies why and sharing their why through video and modern media production.”
BYOBB® 2017 prize: Second place, upper track ($10,000)
Then: “Two and a half years ago, while still in college, Zach Medina and I started Viral Ideas with $250 of our own money and just one client. At the time of BYOBB, we had 42 clients and were working out of our office space in Southampton, Pennsylvania. Other than BYOBB® winnings and our original $250, we are proud of the fact that we’re entirely self-funded while sustaining 2x year over year growth.”
Now: “Growing the business hasn’t been easy. It’s meant putting our heads down to focus only on work, overcoming the challenges that most startups face, giving up a social life and making significant sacrifices along the way. Now, less than three years into the business, we were voted Best in Bucks for Media production by Bucks Happening and have more than 120 clients while also working with some of the most significant brands in the world. In 2018, we’re on track to double our revenue again and fully launch our technology platform.”
What’s next: “We’re working to simplify the process of creating a video. After building more than 700 videos for some of the most significant companies in the world, we’ve learned that the process can be drawn out, time-consuming, and complicated. We intend to solve this problem by creating a technology which reduces the amount of time required to develop a video through a technical solution.”
Founder: Ofo Ezeugwu, BBA ’13
About Whose Your Landlord: “WYL is a web platform empowering and informing the rental community by providing landlord reviews, neighborhood and community-driven content, and access to more than 500,000 listings across the U.S.”
BYOBB® 2014 prize: First place, upper track; Best plan by a minority entrepreneur ($20,500)
Then: “We had just launched, with maybe 10,000 or 20,000 users.”
Now: “750,000 users, people looking for reviews/rentals (25% MOM growth). 70,000 blog readers/mo (43% MOM growth). More than 500,000 active listings nationwide. Renter search queries, 230% MOM growth. 10,000 landlord reviews in the Northeast. Corporate partnerships with American Express, Allstate, Roadway Moving, Dominion, etc. Recent coverage in Forbes, New York Post, NowThis, The Philadelphia Inquirer, Blavity, Curbed, Newsweek, TechCrunch, etc.”
What’s next: “We are raising capital at republic.co/whoseyourlandlord (go invest!) and working with Univision on a podcast focusing on the following: ‘WhoseYourLandlord (founded in 2013) is a web platform empowering and informing the rental community through landlord reviews, neighborhood-focused content, and by providing access to quality listings across the United States. Their brand has become synonymous with realness, community, and growth. In a time where multicultural communities are under attack in many places across the world, The Take Ownership podcast highlights insightful stories and people who are really doing the work to enlighten folks on mentally and economically taking ownership of the spaces they live in.'”
For more information about Be Your Own Boss Bowl 2018, and to RSVP, click here.
Learn more about the Innovation and Entrepreneurship Institute.
Imagine being thankful your husband allowed you to attend a business meeting. Many of you probably rolled your eyes, but this used to be a common occurrence. While we’ve come a long way, we still have far to go to achieve a diverse and inclusive workforce.
The good news is many women are creating their own paths through entrepreneurship.
According to the 2016 Kauffman Index of Startup Activity, women comprise 40 percent of new entrepreneurs in the U.S. At the Temple University League for Entrepreneurial Women Conference, hosted by the Fox School of Business at Alter Hall, we learned that many of today’s female executives are building diverse and inclusive organizations.
The League, which holds an annual conference, is an advocacy initiative that addresses the growing challenges and interests of entrepreneurial women in the Greater Philadelphia region. It was co-founded by Dr. Elizabeth Barber, associate dean of Temple University’s School of Sport, Tourism and Hospitality Management, and Betsy Leebron Tutelman, senior vice provost for strategic communications. The Innovation and Entrepreneurship Institute (IEI), under the leadership of Ellen Weber, executive director, co-hosts the event.
Fox Focus spoke to two of the conference speakers. Here is the advice Judith von Seldeneck, founder and chairman of Diversified Search, and Allison Francis Barksdale, EMBA ’00, CEO of RISE Leadership, have to offer women who want to start their own companies.
What advice do you have for women starting their own business?
Judith von Seldeneck: Have a good idea for your business. Something that fills a viable, current need. Take it slow, one step at a time. Stay in control of it. Be wary of partners or owners. There’s time for that down the road. Do the work yourself. No delegating early on; hire others to work for you when you can afford it. Have someone you trust who has no interest in the business but who is smart, good at things you aren’t, who you can learn from. You must learn it somehow early on if you don’t have it.
“I know that the inclusion of additional voices—diversity—will lead to better decision making in our global economy.” – Allison Francis Barksdale
Allison Francis Barksdale: I thought I had to do it all on my own. It is so much easier now that I am willing to seek help and follow the examples of others who are experts in areas where I am not. It isn’t always necessary to reinvent the wheel. You can find mentors and other resources. Take advantage of all that is available. You can learn from things on social media (such as LinkedIn), your alumni association (such as the Temple Women’s Network), and lots of other opportunities.
We’ve seen some inspiring stats about women in business. How do you feel the world has changed for women over the last few decades?
JVS: When I started, I was almost a unicorn, constantly dealing with men, competing with men, which I actually enjoyed being the only woman. Now I am surrounded by strong, successful, younger, executive women, and there is indeed encouraging news for women in business: over the last decade, the number of women-owned firms increased 45 percent, compared to just 9 percent for the national average. Female ownership of businesses is up almost 10 percent over the last decade. But there is also one big, troubling statistic to go with all of that cheery news: Women start 38 percent of new businesses, but still only receive between 2 and 6 percent of all venture capital funding. That’s an issue because it tells me that banks and venture capitalists still do not see women as solid leaders and their businesses as solid investments. There is more work to be done, especially on the VC side of the ledger.
However, I believe the momentum for women has turned a corner very recently and we are much more integrated, respected, capable, savvy, and confident as people, not just women, in our abilities to succeed in building and growing businesses! Today, we have great successful women role models like never before. Plus, women now want to generally help each other be successful.
“I can’t think of a better career path for women than owning your own business.” – Judith von Seldeneck
AFB: We have made great progress! The biggest change I see is that women are leading as they are. When I was coming into the workforce in the late 1980’s, women wore bowties and power suits and acted like men. Today, women are leading with feminine power. I am a big proponent of authenticity. My company, RISE Leadership, helps women build their impact and income through authentic leadership. To be the best speaker, leader, or anything, you have to be yourself. You can’t be anyone else better than you can be yourself. That’s what truly creates connection and power.
How should companies respond to this change to cultivate more diverse and inclusive staffs?
JVS: Any company that wants to develop a diverse and inclusive staff has to make that commitment from the top: at the board level, at the CEO level. If there are not clear and strong mandates from leadership to install mechanisms and performance metrics to produce a more inclusive workforce, particularly at the C-Suite level, it’s all lip service. It doesn’t happen organically. It happens when people in power make a conscious decision to open their doors wider, and implement policies and procedures that are fair and direct and will produce that result. How are you scouting for new talent—and where are you looking? You cannot tap new talent streams if you are only going to look in the same places you have been looking for the past 30 years. You should also hire Diversified Search to help find great talent!
At the conference, you said your path has been like the Game of Life. Can you translate your experience into advice for future generations of women in business?
AFB: My entrepreneurial journey was not a straight path to success. The first business I started failed. I opened a flower and tea shop in 2005, which could not weather the economic downturn in 2007. People were losing their homes, so they were not buying a lot of small luxuries. As in life, things don’t always go as planned. There is an element of chance. If you take a look at the board in the Game of Life, the roads have lots of curves, twists, and turns that you cannot always anticipate.
As for advice, I learned to never stop believing in myself. Above all else, you cannot give up on you! Deciding to take an entrepreneurial path will push you to grow in ways that you never anticipated. If you stay focused on success, there may come a time when you have to say to yourself, “Okay I am not letting this defeat me. Where’s the good in this, the lesson that I can learn and move on?”
You have to be willing to see your vision of success differently than how you planned it. Rather than going into business to do and make money, focus more on serving and solving problems that you are designed to solve best. Enjoy the day-to-day and not just the final outcome of your future success. Whatever happens along the way, good or bad, it’s an opportunity to learn and grow, personally and professionally.
What will the future hold for women in entrepreneurship and business?
JVS: I can’t think of a better career path for women than owning your own business. The future is bright and getting brighter. There are now 11.3 million women-owned businesses in the U.S., employing nearly 9 million people and generating over $1.6 trillion in revenues. Those kinds of statistics would have been an unthinkable pipedream 40 years ago. Time heals many misevents. Sometimes it takes longer than we would like. Technology is leveling and normalizing the playing field everywhere and disrupting long-established traditional practices in one fell swoop. I think there is a tremendous benefit for women in business in this explosive transformational environment that is happening so quickly. We need to be riding this tidal wave that is disrupting business everywhere.
“Deciding to take an entrepreneurial path will push you to grow in ways you never anticipated.” – Allison Francis Barksdale
AFB: There isn’t a one-size-fits-all approach. Generally, a company will take on the values of its leaders, especially in the case of entrepreneurs. As in my case, authenticity and speaking up are personal as well as organizational values. It’s exciting to see how more and more women are igniting their power and speaking up. Women are leading in various ways—in small businesses, corporations, politics, and nonprofits (I prefer the term for-purpose). Even though we still have quite a ways to go, especially in corporate and board leadership, I know that the inclusion of additional voices—diversity—will lead to better decision making in our global economy. Women will play a key role in building a more inclusive, cooperative, and optimally functioning workforce. I plan to do my part to make this happen.
To continue the dialogue on women in business and leadership, feel free to contact Allison: Allison@ImpactwithRISE.com
The Future of Business is Female
The following Temple students and alumnae pitched their companies at the conference:
- Jess Rothstein, Fox MBA, Class of 2018, Play Bucket, playbucketapp.com
- Emily Knight, Engineering major, Class of 2018, Prohibere, biomaterix.com
- Karima Roepel, MTHM ’06, Ambrosia Food Group, ambrosiafoodgroup.com
The Fox School of Business Innovation and Entrepreneurship Institute (IEI) proactively promotes entrepreneurial spirit throughout all 17 schools and colleges at Temple University. IEI offers many years of experience in business development and consulting, a wide variety of skills, extensive networks, and boundless enthusiasm for new ventures and experiential learning.
Ellen Weber, assistant professor and executive director of the Fox School of Business Innovation and Entrepreneurship Institute, earned the David Freschman Award at the 19th annual Angel Venture Fair.
The award, named after the late venture capitalist and consultant for ABC’s hit show “Shark Tank,” was given to Weber for her singular impact on entrepreneurship at Temple and the wider Philadelphia community. She has been an inimitable force in supporting entrepreneurs across the region through her work at the Fox School, and with Mid-Atlantic Diamond Ventures (MADV) and Robin Hood Ventures.
“David was a dear friend, so it was very meaningful to me to win this award,” says Weber. “It was exciting to see so many investors and entrepreneurs under one roof, and to see the continuing growth especially in healthcare, IT, and life sciences.”
Thirty-four early-stage companies came to the Angel Venture Fair, held at the Union League in Philadelphia, to pitch their ideas to a panel of investors in a format similar to “Shark Tank.” Among the pitching companies was Fox School undergraduate Nigel Satenstein’s global e-commerce venture, Pinpointer.
“It gives them the opportunity to get in front of investors early, and we work with them to make sure they’re investor-ready,” Weber says about the work she does preparing students and other entrepreneurs how to pitch ideas to investors. “They don’t just get up and pitch, they’re assigned to coaches, and the coaches add a lot of value. They’re exposed to a large number of investors instead of having to knock on doors. It makes a huge difference for these companies.”
One of the most important steps? Craft a solid elevator pitch. “Elevator pitches are something I work on with students a lot,” she says. “You need to get your idea out clearly and succinctly. If you do, people will ask you for more.”
Pennsylvania is a hotbed for technology and innovation, said Governor Tom Wolf, and is more than capable of tackling upcoming talent gaps in its workforce.
Wolf visited Temple University May 2 to discuss innovation, economic development, and technology for a Philly Tech Week event held at the Fox School of Business’ Alter Hall. He addressed Pennsylvania’s need for self-promotion, with regard to its historical reputation in innovation sectors, and acknowledged the commonwealth’s strength in producing high-caliber college graduates.
Wolf participated in the question-and-answer panel alongside Sharon Minnich, Pennsylvania Secretary of Administration; Krystal Bonner, Director of Digital Communications and Strategy; and Julie Smith, Director of Data and Digital Technology.
Calling himself Pennsylvania’s “Cheerleader-in-Chief,” Wolf also tackled subjects ranging from entrepreneurship and marketing, to statewide data access. He reflected on Pennsylvania’s need for a more-robust conversation with its residents “so I can provide them with what they want, and not what the state thinks they need.”
Wolf’s most significant contribution to Pennsylvania’s technological innovation happened in 2016, a year after the first-term governor took office. Wolf introduced an open data portal to improve the state’s transparency with its residents, and to support cross-agency collaboration. In doing so, Wolf told attendees that he had wished for greater civic engagement and bolstered economic opportunity.
The executive order, he said, has since strengthened Pennsylvania’s commitment to technological innovation and improved access to state-agency data sets. Wolf also has overseen the hire of Pennsylvania’s first open-data officer and data scientist.
“Pennsylvania should not be a shrinking violet when it comes to tech innovation. The state needs to tout its strengths,” said Wolf, making his fifth visit to Temple during his two years in office.
“We are a great place to innovate. Pennsylvania has gotten this reputation in the minds of some that we’re not an innovative place. Pennsylvania is where the action is. It has a great workforce, great institutions of higher education, and great people. Modesty is a wonderful thing, but it keeps us from having a sincere discussion about how great we really are.”
Temple University president Richard Englert and Fox School of Business dean M. Moshe Porat delivered opening remarks, welcoming Wolf and thanking him for his ongoing support of higher education.
“Innovation informs our curriculum, drives our students, and leads new program development,” said Porat. “It’s an important subject because innovation is critical to directing us as a nationally ranked provider of business education.”
“It’s very appropriate for the governor to be here,” Englert added. “You are an outstanding supporter of education and innovation. Thank you for all that you do for Temple and fellow institutions across the commonwealth of Pennsylvania.”
Temple houses undergraduate- and graduate-level Entrepreneurship programs that are ranked top-10 nationally by The Princeton Review and Entrepreneur magazine, and is home to the renowned Innovation and Entrepreneurship Institute, which proactively promotes entrepreneurial spirit and innovation across all 17 schools and colleges.
Christopher Wink, CLA ’08, editorial director of Technical.ly, moderated the panel discussion featuring Wolf. The Management Information Systems department at Temple’s Fox School of Business sponsored the Philly Tech Week event.
Wolf closed the panel with a bit of self-deprecation. He lauded Pennsylvania for its wealth of elite higher-education institutions. Wolf called attention to what national economists have forecast as the nation’s largest talent gap, as members of the Baby Boomer generation begin to retire. He then pointed to the state’s need for stronger retention of its talented college graduates—even citing his two daughters.
“I’m trying to convince them to come back here, and I think I’m going to be successful,” Wolf said, smiling. “We’re not there yet, but we’re better in that area. We should be considered among the top places in the country, if not the world, for innovation. … Pennsylvania is a very fertile place for the kind of new ideas you’re all interested in.”
1. Honeygrow: A #TempleMade Venture
Justin Rosenberg, Fox School of Business, MBA ’09, is the founder of Honeygrow, a restaurant offering healthy fare made with seasonal, local ingredients. Starting this summer, Honeygrow will have 18 locations, including one on Temple University’s Main Campus in Morgan Hall. According to Rosenberg, “I’m a Temple guy. I wrote a chunk of my business plan for Honeygrow at Alter Hall, and the business is very much a #TempleMade concept.” Explore Honeygrow.
2. Yasmine Mustafa Roars for Good
Entrepreneur Yasmine Mustafa, BBA ’06, is an advocate for women. In 2016, she won Philly Geek Awards’ Technologist of the Year for ROAR for Good, a company that makes self-defense wearable technology. The product appears as jewelry but acts as an alarm and safety light that, when activated, connects to a smartphone to text family, friends, 911, or campus security. Mustafa is determined to help women live without fear and reduce the violence against them. Watch her story. Hear her TEDx talk.
3. Neha Raman Brings to Market DIY Nail Polish
In 2015, Neha Raman, who will graduate from the Fox School in 2018, launched a make-your-own nail polish business called Rungh, the Hindi word for “color” (pronounced “Rung”). Her product includes six nail-polish bottles with nail-polish base, 18 pigment capsules, a battery-operated mixer, and disposable mixing wands. Rungh was the official nail polish of Philadelphia Fashion Week in February 2016, the same month Raman was named runner-up in College Pitch Philadelphia. In April 2016, she placed second in Temple University’s Be Your Own Boss Bowl. Learn more about Neha Raman.
4. Adam Lyons Streamlines Shopping for Car Insurance
Founder and chief executive officer Adam Lyons, BBA ’09, launched TheZebra.com to simplify car insurance shopping. TheZebra.com allows drivers to compare over 200 insurance providers on factors such as coverage types, coverage levels, claims rankings, and price. Lyons and co-founder Joshua Dziabiak were named to the 2017 Forbes 30 Under 30 list in the Consumer Tech category, which highlights “game changers” under 30 years old who are revolutionizing industries with a goal nothing short of breaking the status quo and transforming the world. Meet Adam Lyons. Read about his experience pitching his dream investor (hint: it’s Mark Cuban).
5. Chris Wallace Says, Sales Remains People-Centric—Even in the Digital Age
“Sales teams often aren’t aligned with their organization’s strategy,” says Chris Wallace, MBA ’10, managing director, GrowthPlay. In his recent Harvard Business Review article, Wallace discusses how organizations typically spend three times more on sales than advertising, but only deliver 50-60 percent of the forecasted revenue. His passion for sales led him to pursue an MBA at the Fox School and a year after he graduated he founded Incite, a sales force strategy and effectiveness firm. GrowthPlay recently acquired Incite to strengthen its position in the sales effectiveness market. “I could never be where I am today if I didn’t earn my MBA. It changed my career, and helped me see the value of putting people at the center of any business strategy. Today, I help develop better performing sales teams using the skills, knowledge, and business acumen I learned at Fox.” Read his HBR article.
6. Ofo Ezeugwu Wants to Rate Your Landlord
Ofo Ezeugwu, BBA ’13, is the chief executive officer and co-founder of WhoseYourLandlord (WYL), which enables renters to rate their landlords and housing complexes. He graduated from the Fox School of Business at Temple University, where he was the vice president of the student body. He is a Techstars’ Risingstar, one of BET’s #30Under30, and his work has been featured in TechCrunch, The San Francisco Chronicle, The Philadelphia Inquirer, and more. Ezeugwu is based in New York and Philadelphia, is a professional actor and model, has been featured on the Today Show five times, and has worked with Nike, ESPN, and Alfani. Explore WhoseYourLandlord. Watch Ofo pitch on MSNBC:
7. Got a Broken Cell Phone? Call Jesse DiLaura for Repairs.
“I have an obsession with improving,” said Fox School alumnus Jesse DiLaura, BBA ’16, the founder of Repair U—a phone repair company for college students. He is an Entrepreneurship graduate of the Fox School of Business who learned how to turn his hobby, cell phone repair, into a business. The Innovation and Entrepreneurship Institute (IEI) and Temple’s Blackstone Launchpad fed his obsession by offering constructive feedback on every aspect of his business plan. Along the way, he learned the intricacies of launching a business, branding, publicity, and much more. Discover Repair U.
8. Séverine Bandou Adds Scent to Curly Hair Products
“Myjé will enable women with textured hair to neutralize airborne odors without any drying effect,” said Séverine Bandou, a student in the Fox Innovation Management & Entrepreneurship graduate program. “They will experience the sensation of freshly washed hair while saving time and avoiding hair damage due to frequent shampooing, treatments, and styling.” Bandou, who will graduate this year, participated in the Fox School Innovative Idea Competition and placed second in the Graduate, Faculty, Staff, or Alumni category. Read about Bandou on Technical.ly Philly.
9. Nick Delmonico Combines Business, Tech, and Healthcare
Fox School student Nick Delmonico is currently enrolled in Global MBA program. He’s the chief executive officer and co-founder of Strados Labs, a health technology company working on innovative ways to help patients better manage chronic illness in order to live happier and healthier lives. His company is the maker of Pulmawear, a wearable device and companion application providing asthmatics with real-time symptoms monitoring, medication tracking, and personalized analytics to improve self-management. Explore Strados Labs.
10. Brandon Study Wears His Heart on His Sleeve
Understand Your Brand creates awareness about human rights and environmental issues through the apparel manufacturing industry and designs products that tell a better story. Founder Brandon Study is committed to using non-exploitative and minimal environmental impact production, and previously ran Into the Nations, a nonprofit seeking to empower artisans in developing countries. Study, Class of 2017, is a student in the Entrepreneurship Program at the Fox School who has a passion for creativity and social entrepreneurship. Discover Understand Your Brand.
Through entrepreneurship, Temple University students, faculty, staff, and alumni united at the 19th annual Innovative Idea Competition.
The competition engages entrepreneurship at Temple, and invites those affiliated with the university to share their innovative ideas for products, services, concepts, and technologies that could lead to new businesses. Ideas in all stages of development were eligible for submission.
The Innovation and Entrepreneurship Institute (IEI) at the Fox School of Business hosted the Nov. 10 event, which was held at Alter Hall. IEI received 426 submissions from 14 of Temple’s 17 schools and colleges, marking a 21-percent increase in submissions from last year’s competition. The competition welcomed submissions from local community colleges, as part of a program funded by Temple’s Center for International Business Education and Research (CIBER).
“The Idea Competition is unique in that it allows participants to take an idea out of the theoretical and see its potential for becoming a reality,” said Ellen Weber, IEI Executive Director. “All of our participants have access to mentors during the application process who can help them develop their ideas and begin that mode of thinking.”
Ideas were put to the test as finalists competed for spots in eight cash prize categories.
Nigel Satenstein, a Business and Management major at the Fox School, won the overall grand prize of $2,500, as well as the first place in the People’s Choice Award category and the Global Innovative Prize. He walked away as the competition’s winner, with prize money totaling $4,000.
His idea – Pinpointer – would connect the more than four billion people worldwide without a home address to global e-commerce markets through the use of precise digital codes. In countries like China, India, and Nepal, the lack of sufficient home addressing infrastructure makes it impossible for online order deliveries to be shipped to someone’s door, Satenstein said. The customer, rather, has to arrange for pick-up of their orders at nearby landmarks, such as a school or a church.
Pinpointer would deliver a “virtal breadcrumb” technology, Satenstein said, that tracks the customer’s journey from his or her home to the pick-up location. This way, the next time the consumer orders a product online, the delivery service can follow the trail of a previous delivery in order to reach the customer’s front door.
“This was an amazing opportunity from Temple to help jump-start our business, and we hope this momentum will carry through for the rest of our current funding round,” Satenstein said. “Pinpointer will use the money we won to expand our efforts at tech development, hire additional workers and bolster our servers used to store collected data. The rest of the funds will be used for marketing and customer-acquisition efforts.”
Lewis Katz School of Medicine student, Conor Vickers, took home first place for the Graduate, Faculty, Staff, or Alumni category. He won $1,000 for SensiFoam, a concept for a product that would prevent pressure ulcers or bedsores with a disposable foam patch that can wirelessly transmit pressure data to a tablet device. Fox School student Peter Agada clinched second place in the same category and earned a $500 prize, for his wearable balance device. His idea involves eyeglasses that have sensors measuring the head, leg, and trunk movements, and changes in elevation that ultimately would help to prevent falls for the elderly.
In the Undergraduate category, both first and second place went to students from the College of Engineering. Christopher Ricci received the $1,000 first prize with his idea of a regenerative suspension system. Designed for automobiles, it would use kinetic energy from road disturbances to create electrical energy. The $500 second prize went to Emily Knight for Prohibere, which would use a hair and skin serum to eliminate the urge for people with trichotillomania to extract their hair.
Audience members got into the action, too. For the third consecutive year, attendees cast votes for the People’s Choice category using their smartphones.
“The pitch event provides an opportunity for the finalists to use the questions and feedback from our judging panel to identify the next steps toward testing their ideas and building them into something real,” Weber said.
Temple University’s Fox School of Business welcomed Comcast Corporation executive David L. Cohen as the Warren V. “Pete” Musser Visiting Professor of Innovation and Entrepreneurship.
Established in 2015, the Musser Professorship is an endowed term professorship filled by experienced and well-known practitioners who are interested in visiting the Fox School to mentor and engage with students.
Cohen serves as the Senior Executive Vice President and Chief Diversity Officer with the Comcast Corporation. Students, young professionals, and business leaders alike packed into the seventh-floor MBA Commons of Alter Hall to hear Cohen’s Nov. 7 presentation, titled “Leaders Lead.” Temple’s Innovation and Entrepreneurship Institute (IEI) sponsored the event.
As a leader in Philadelphia for many years, Cohen shared what he has learned, the challenges he has faced, and his top-10 traits possessed by effective leaders. Paramount to all, he said, Cohen stressed the importance of volunteer work and involvement with nonprofits.
“I really wanted to be successful and help people outside of the classroom and outside of school,” Cohen said of his early years as a professional. “I volunteered and served leadership roles in nonprofits. Leaders have the opportunity to get involved with issues beyond their businesses. They have a chance to help the community around them.”
Cohen beamed with pride in discussing Comcast’s investment in philanthropy. The company has donated close to $4 billion to communities in which its employees live.
Cohen also shed light on his work with former Pennsylvania Governor Ed Rendell, for whom he served as Chief of Staff from 1992-97, a span of Rendell’s two terms as Philadelphia mayor.
“There were a lot of challenges Ed faced when he took office: high crime rate, declining population, declining economy,” Cohen said. “The two leadership traits for which I most admired him for were his team-building skills and his communication skills. He had a clear vision for the city and he knew how to communicate that well.”
Cohen then shared his list of 10 must-have leadership skills, a list which included humility, sense of humor, ability to inspire, vision, communication, and others, and showed brief video clips to punctuate each one of them. Cohen answered questions from the audience with topics ranging from challenges in diversity and inclusion, to complexity in building teams.
“Mr. Cohen is such an incredible and influential person, and it’s really beneficial to hear his experiences and advice,” said first-year graduate student Jeffrey Stern, who added that he was grateful to hear first-hand from a business leader like Cohen.
“He placed emphasis on leaders remaining humble and being able to give back to their communities, and those are traits that I’ll always keep in mind for the future,” said senior Economics major Dan McLaughlin.
Following his question-and-answer session, Cohen left attendees with a final piece of advice.
“Learning never stops,” he said, “and it certainly doesn’t stop after you’re finished school. Nothing is impossible.”
This fall, Temple University further strengthened its commitment to entrepreneurship education across all disciplines with the establishment of the Temple University Entrepreneurship Academy (TUEA).
The Academy is geared toward the incorporation of entrepreneurship education in the coursework delivered by faculty members throughout all of Temple’s 17 schools and colleges, and the creation of seminars and services available to students, faculty, and staff at Temple, and enhanced offerings and participation in entrepreneurial activities.
Alan B. Kerzner joined the faculty at Temple’s Fox School of Business as an Assistant Professor of Practice within the Department of Strategic Management. He also will serve as the Director of TUEA, a role in which he will work with other schools and colleges at Temple to facilitate the spread of entrepreneurial practice across the university.
“Entrepreneurial thinking is not present solely within business schools. It can be found throughout a university, particularly one as dynamic as Temple,” Kerzner said. “Our objective is to work with faculty on the implementation of entrepreneurship education across the university, and with students to foster their enthusiasm for innovation.”
At Temple University, entrepreneurship continues to flourish.
Temple is one of five colleges and universities in the United States to have earned top-10 rankings for both undergraduate- and graduate-level entrepreneurship programs, according to a 2015 publication from The Princeton Review and Entrepreneur magazine. Temple’s undergraduate Entrepreneurship program received a No. 8 national ranking, and its graduate program earned a No. 10 ranking.
Temple’s Innovation and Entrepreneurship Institute (IEI) organized its 18th annual Be Your Own Boss Bowl (BYOBB), a university-wide business plan competition held in April 2015 and catering to students, faculty, staff, and alumni. BYOBB makes available nearly $700,000 in cash prizes and related products and professional services, earning it a reputation as one of the nation’s most-lucrative business plan competitions, according to Entrepreneur.
Temple also offers access to the Small Business Development Center, which, for the 2015-16 academic year, consulted with 861 entrepreneurs, resulting in the creation of nearly 450 jobs. The SBDC assisted pre-venture clients in the generation of 46 new businesses in the Philadelphia area, with 60 percent of the clients served originating in Philadelphia.
“There is no better time to begin your entrepreneurial journey than when you are a university student,” said Ellen Weber, IEI’s Executive Director. “Here at Temple, entrepreneurship serves as an inspiration to our students, who can test their ideas in classes or in hands-on workshops. At their fingertips, students have a built-in audience through which to test product and market fit as they prepare to launch, and we provide access to highly experienced mentors who can deliver direction, and funding through BYOBB, our annual Innovative Idea Competition, and the Mid-Atlantic Diamond Ventures, an independent organization that assists emerging technology-based companies in their effort to build sustainable businesses.”
“There are pockets of entrepreneurial activity throughout Temple,” said Dr. Robert McNamee, Assistant Professor of Entrepreneurship at the Fox School. “With the Entrepreneurship Academy, we’re working to create a community of practice across the university.”
According to Kerzner, TUEA is poised to immediately deliver a suite of educational seminars, sessions, and competitions geared toward Temple’s entrepreneurs. They will build upon the Academy’s inaugural workshop, “Doing Well While Doing Good,” which was offered in April 2015 and centered on social entrepreneurship.
This fall, TUEA has plans to offer educational sessions on the establishment successful freelance businesses; the development of prototypes; and the demystification of technology, among others, Kerzner said. The Academy also will welcome a series of Tyler School of Art alumni who have found success in careers as independent entrepreneurs, to speak to current art students.
The future plan is to expand TUEA into new space on the first floor of the 1810 building on Liacouras Walk, to make all of the entrepreneurial services more readily available to the university community.
Lastly, Kerzner said, TUEA has plans to create an on-campus retail space in a heavy-traffic area. The space, he said, will allow student entrepreneurs “a place to sell their products, as they explore the developmental stages, and receive customer feedback.”
“For this space, think retail store meets entrepreneurship testing lab,” Kerzner said. “It will be managed and staffed by students, and feature kiosks designed by students from the Tyler School of Art.
“The establishment of TUEA, and our abundant plans for this academic year, will take Temple’s commitment to entrepreneurship to the next level.”
A half-dozen students are blurring the line between a place of residence and a place of business.
A pot of coffee is brewing on the stove as the housemates amble through the living room. On this morning, one is eating homemade parfait out of a Tupperware container, while another texts feverishly from the edge of the couch. Two others are gathered near the kitchen table discussing their company, through which their friendship and careers intersect.
In all, six 20-somethings from Temple University inhabit a house near 19th and Diamond streets in North Philadelphia. Five currently live there. The sixth, who used to call the two-story townhouse his home, reports there daily for work.
The housemates refer to the house constantly by its street number. But it could just as well be called the House of Entrepreneurs.
It’s where eight businesses are operated between these six guys – three with Temple degrees, and three more set to graduate within the next two years. A number of those businesses are thriving and profitable. Others are either designated as not-for-profit, or are simply too new to turn a profit – at least for now.
“Money isn’t the priority at the moment,” said Jesse DiLaura, FOX ’16. “We’ve prioritized community, learning, and supporting one another over solidified careers.”
DiLaura would know this better than most. One of the house’s current residents, the rising senior switched majors at the Fox School of Business – from Risk Management, which boasts a 100-percent job-placement rate for its graduating students, to pursue a degree in Entrepreneurship.
While The Princeton Review and Entrepreneur magazine rank Temple’s undergraduate- and graduate-level degree programs in Entrepreneurship among the top-10 nationally, career paths for budding entrepreneurs aren’t so easily defined. That’s why these friends cull from their cumulative expertise to make their dreams more of a reality.
“If we need photography for a website, a social-media campaign, or for Kickstarter, we have somebody for that,” said Justin Swallow, TFMA ‘16. “If we need a videographer, a graphic designer, someone with experience writing business plans or working to secure seed funding, chances are someone in the house has done it already and can help you out.”
DiLaura and Swallow are two of the originals at the house. They moved in more than two years ago with Beau Rosario, TFMA ’14, who with the help of his brother, Clint, as well as Swallow and others operates a successful multimedia business out of the house’s basement. Brandon Study, FOX ’17, Tim Mounsey, FOX ’16, and Sean Hawkins, SMC ’18, live in the house, too.
The friends are a melting pot of skills, opinions, and experiences.
Over the summer, Study and DiLaura attended a Philadelphia-based pitch competition, where DiLaura won $500 and received personal congratulations from FUBU clothing-line founder Daymond John, one of the billionaire investors who appears on “Shark Tank.” At the event, John later fielded Twitter questions, one of which came from Study. He tossed a shirt from his fledgling clothing line onto the stage, where John picked it up and gave his approval for the design and concept behind Study’s business.
Those moments are not uncommon for these housemates.
From time to time, the guys within the house will develop business-plan models, then gather his housemates and curate his idea among them as though he’s pitching to John and the rest of the “Shark Tank” panel. More often than not, however, the friends discuss their separate ventures over informal meetings – in meet-ups over lunch, while squeezing in a video-game break to cut the tension from work, or on after-hours rides through the neighborhood on their longboards.
And friendship, they all agreed, does not get in the way of candor.
“We all accept and seek each other out for feedback,” Hawkins said. “We are all radically different people and we embrace that any comment is coming from a place of positivity. That’s why, while living here, it’s very easy to be inspired by one another.”
A stroll through the home, at 19th and Diamond, offers a glimpse of their collective creativity. The living-room walls are littered with samples of their work: Photography portraits of their friends, cropped tightly to show only their faces. Posterboards of past business-plan events that they have either hatched, competed in, or won. Discarded Philadelphia streetsigns rigged with lightbulbs, and converted into impromptu lighting fixtures.
Creativity, like entrepreneurship, is a thread that binds these students.
“The collective drive of this house and the diversity of projects being undertaken at any given time provides us with a depth of insight and experience that I think we all apply in our projects and businesses,” said Mounsey. “The collaboration that goes on here not only fuels professional success, but it fuels our personal success.”
“It’s safe to assume we talk a lot about our work, but we talk about our lives, too,” added Study. “It’s not just about forwarding our businesses; it’s about forwarding our friendships.”
Ellen Weber can attest to the value afforded by entrepreneurial collaborative space. As the executive director of Temple’s Innovation and Entrepreneurship Institute (IEI), Weber has spent most of her professional career working in the areas of entrepreneurship, investing, start-ups, and consulting.
With these students, Weber sees “a group that gives as much as it takes.”
“When entrepreneurs occupy collaborative, co-working spaces, they push one another, share ideas, and make one another better,” Weber said. “You can see the energy magnifying within entrepreneurs when they have mentorship opportunities like this. And for these specific students, they not only eat, sleep, and breathe entrepreneurship; they’re living it, too. It’s 24/7 for them, and it’s pretty remarkable.”
Like their academic majors, their business ventures are just as unique.
DiLaura, who will graduate from Fox in January, founded RepairU. The company offers iPhone and iPad repair services for college students by college students at discounted rates. He hopes to operate it out of a food cart near Temple’s Bell Tower by the start of the academic year.
Rosario, who in 2014 graduated from Temple’s School of Theater, Film and Media Arts (TFMA), got his start as a provider of wedding photography, videography, and disc jockey services. He turned Beau Rosario Photography into Philamedia, a commercial media provider. His brother Clint, who lived at the house during his breaks from Eastern University, is the company’s sound engineer. And Swallow, who graduated from TFMA in May, is Philamedia’s commercial videographer.
“We’ve grown from getting free furniture for doing a photoshoot at Kardon/Atlantic (Apartments at Temple) to now generating ads for SEPTA Silverliner, the Mann, the Philly Pops, and many more,” said Beau.
While Swallow is employed by Philamedia, he supports his housemates’ ventures. A graphic designer, Swallow has provided input and collateral for “pretty much every business that’s ever come through here,” DiLaura said.
Study, who will graduate in May, twice considered art school before pursuing an Entrepreneurship degree from the Fox School. He started a non-profit in 2015 called Into The Nations, to help artisans in developing countries develop sustainable business models. And in July, he launched a Kickstarter campaign for Understand Your Brand, an apparel company that utilizes all-natural dyes and an ethically responsible, no-waste factory in Cambodia that pays its employees above the living wage.
“We were learning about the state of the apparel business in this class at Fox, and I wondered, ‘Why is no one else panicking about this like me?’” Study said. “It started as a social-awareness campaign for the class, and it’s become so much more.”
Mounsey, who earned his Entrepreneurship degree in 2016, is a business development analyst by day with Philadelphia-based private equity firm, LLR Partners. He’s also founded a Temple-wide innovation festival, What IF, which held its inaugural events in April. Back in 2015, Mounsey also paired with Study to develop Cycle Clothing Company, a zero-waste lifestyle apparel company which became the foundation for Study’s Understand Your Brand Kickstarter. Their venture placed third in the social-impact track of Temple’s Be Your Own Boss Bowl, which is considered one of the nation’s most-lucrative college business plan competitions, according to Entrepreneur magazine.
“The success and marketing effort of What IF wouldn’t have been possible without the collaboration of our house,” Mounsey said. “Every design, marketing flyer, and video script was created in collaboration of at least two to three house members. It was the perfect opportunity for all of us to combine our expertise.”
Lastly, there’s Hawkins, who will graduate in 2018 with a Communication Studies degree from the School of Media and Communication. He’s presently in the pilot phase of launching a branding company, Big Boi Studios, and a related YouTube channel.
Six friends. Eight businesses. One house.
“If you would have asked me years ago about my college experience, I never could have envisioned it would look anything like this,” Rosario said, “and I hope I’m still doing something like this, and with these same guys, in 10 or 20 years.”
Entrepreneurs piled into Alter Hall clinging more than posterboards and presentation materials. They also brought dreams of success and self-employment.
Temple University’s Fox School of Business hosted casting associates from the hit ABC show “Shark Tank,” which features self-made millionaires who award mentorship and financial support to budding entrepreneurs in exchange for equity stake in their businesses. More than 170 Temple students, alumni, faculty, and staff applied in the hope that their June 11 pitches would result in selection to appear on a future episode of the show.
“I walked in the room to make my presentation, and I immediately felt so nervous,” said Fox Part-Time MBA student Vinti Singh, who pitched a standing CT scanner for horses that wouldn’t require anesthetization. “I can only wonder what it’s like to deliver a pitch in front of the actual sharks.”
If accepted by “Shark Tank,” Temple entrepreneurs were told they would receive a call from one of the show’s casting associates within two to three weeks.
Casting associates listened to 60-second presentations inside the Steven H. Korman Conference Room, with two Temple entrepreneurs having to deliver their pitches simultaneously and side by side. The associates asked entrepreneurs to reveal both the monetary value they would ask of the Sharks, and to name the Shark with whom they most strongly identified.
Caren Sachs, an associate for the show, told applicants prior to their casting calls that “personality is just as important as your pitch.” She emphasized that “Shark Tank” seeks entrepreneurs who can speak energetically about their businesses, products, and concepts.
Alter Hall’s Undergraduate Commons served as the waiting room for Temple entrepreneurs before their number had been called. Applicants paced the room, rehearsing their talking points and working through their demonstrations.
College of Education alumnus Rich McFillin hoped to sell the casting associates on his Garage Bow Company, which manufactures and sells magnetic red bows that make garage doors decoratively resemble wrapped presents during the holiday season.
“They didn’t throw me any curveballs,” McFillin said of the casting officials. “They asked me questions I knew I had the answers to, and I could tell they were excited, which made me excited, too.”
Joseph Green’s pitch lasted more than five minutes, seemingly attracting the attention of a “Shark Tank” official. The Fox School alumnus is the owner of Affinity Confections, which offers sweet dessert treats in smaller portions. Recently, Green has begun packaging and selling the various sauces and coulees he manufactures using premium ingredients.
“I guess they liked what I had to say,” Green said of his pitch. “I’m looking to expand my products some more, and use any initial investment I would receive for packaging and to continue making a name for ourselves.”
Brandon Study, a Fox School senior majoring in Entrepreneurship, said he felt confident while making his pitch. Temple University “prepares you for moments like this,” he said. “That training is what helps you thrive in crunch-time situations.”
Two days prior to the casting call, Temple’s Innovation and Entrepreneurship Institute (IEI) and Blackstone Launchpad offered a pitch-coaching session open to all entrepreneurs hoping to polish their pitches. Jesse DiLaura, a senior Entrepreneurship major at Fox, arrived at the coaching session to prepare for his pitch. Instead, he worked with fellow Temple entrepreneurs to improve theirs.
“I had rehearsed what I was going to say thousands of times,” he said, “and I thought, ‘If I can help out a fellow entrepreneur who had a question about his or her pitch, why not do what I can?’ I wasn’t planning on being a coach, but I had to speak up and try to get at least one person from Temple on the show.
“People need to know that great things are happening with entrepreneurship at Temple.”
“The IEI was delighted to welcome casting associates from ‘Shark Tank’ to Temple University,” said Ellen Weber, Executive Director of Temple’s IEI. “Choosing Temple as a host for an on-campus casting call validates the IEI’s mission, to provide students, faculty, staff, and alumni entrepreneurs with programs and opportunities to succeed.”