Just over three months after taking the stage as finalists in the 2019 Be Your Own Boss Bowl, twelve Temple University entrepreneurs—along with three others who joined them as members of the Summer 2019 Startup Studio Accelerator cohort—once again got up to pitch their big ideas. This time, they presented an update on their progress since the April 19th Bowl.
“This event is really the culmination of the work that the BYOBB finalists do while they are in the Accelerator program,” says IEI Executive Director Ellen Weber, who launched the inaugural Demo Day event in summer 2018. “It gives them the opportunity to share their progress as well as the milestones they’re still working toward reaching, and to describe the support and funding they need to reach those milestones.” To that end, Demo Day provides a platform for presenting entrepreneurs to make connections with the people who can help them get there.
A crowd of 75 packed into the 1810 Accelerator to see this year’s presenters. Made up of local investors, community professionals, student entrepreneurs, and mentors who have volunteered their time working with University entrepreneurship programs, attendees at the event had the opportunity to visit with each of the presenting companies at an expo prior to the official program. Once the program began, everyone in the crowd shared their feedback in real time via feedback forms completed after each presentation and then shared with the companies. Attendees could include constructive comments, suggestions, or offers of ways they can help.
“Feedback from the business and investor community during Demo Day is an important added value the teams receive for participating,” says Accelerator Director, Greg Fegley. “Several of our teams received key feedback on potential pivots with their business and revenue models, as well as great connections they otherwise would not have made.”
Startup Studio member and co-founder of Switch Stream, Sarah Stanton, agrees. “As young entrepreneurs, it’s important to hear from industry experts and entrepreneurs who’ve been in our shoes before. We’ve learned from other’s mistakes, built relationships, shared knowledge with other cohort members, and refined our pitches for an investor audience.”
The combination of the BStartup Studio member and co-founder of Switch Stream, Sarah Stanton, agrees. “As young entrepreneurs, it’s important to hear from industry experts and entrepreneurs who’ve been in our shoes before. We’ve learned from other’s mistakes, built relationships, shared knowledge with other cohort members, and refined our pitches for an investor audience.”e Your Own Boss Bowl, the Startup Studio Accelerator, and Demo Day—all happening over the course of just a few months—is meant to propel participating companies toward progress, milestones, and success they might otherwise not have the resources to reach.
“Coming off of the BYOBB win, I was overwhelmed with what felt like a daunting feeling of ‘where do we go from here?’” shares Izzy Jackson of Dwell City, LLC. “Startup Studio gave my co-founder and me tangible next steps that helped us progress in measurable ways. I loved the fact that we were encouraged to keep a journal during the nine weeks we were in the program. It helped us track the progress we were making and our thoughts along the way. Plus Greg and Ellen kept us informed of ways that we can leverage resources within the city to move forward.”
Demo Day was one of those ways. And, not unimportantly, it was a way for this group of entrepreneurs to celebrate their completion of the program, a success in itself.
“Demo Day was so much fun,” shares Rachel Cox, founder of Airapy. “It was the biggest crowd I have ever presented to but I wasn’t nervous. The audience was very positive. We got connections to a few potential customers and a local investor that wants to learn more about us. It was very productive.”
Thanks to recently expanded resources and programs for entrepreneurs at Temple University, Demo Day is not the end of the support these entrepreneurs will receive. This past spring, the 1810 Accelerator was launched, and the space includes co-working areas, a creativity lab, a collaboration lab, storage lockers, and conference rooms that can be used by members and alumni. Greg Fegley remains on board full-time and will spearhead the growth of current programs and the creation of new ones to continue supporting entrepreneurs and helping them launch their companies.
“With Greg on Board, teams can stop in at any time to ask questions, share progress, and get advice and guidance,” shares Ellen Weber. “Greg’s being here provides important continuity throughout the program.”
“With the new 1810 Accelerator we now have the space to build our entrepreneurial community within Temple and to leverage the Philly entrepreneurial ecosystem as well,” says Greg. “It also allows us to scale and offer a broader range of programs to shepherd our entrepreneurs through the process from inspiration to fund and launch. We’re excited about these new opportunities and to see our entrepreneurs succeed as a result.”
Want to learn more about the 1810 Accelerator? Email 1810@temple.edu.