2021-2022 IMPACT REPORT New Venture Accelerator
Lou Bifano Lou Director, New Venture Accelerator
Our take on the future has innovation and an increasingly providing products and services across a broad range of solutions manufacturing, digital commerce, social and environmental responsibility, and location-independent solutions serviced by remote workers. Our job is to help develop the critical thinking skills that will enable Everything we do is focused on having a positive impact on our student and faculty entrepreneurs.”
“At Auburn, we think about entrepreneurship, innovation, and products or services in an existing organization, and the third is to grow an existing business.
The students we serve, sometimes called Generation Next, are typically between 18 and 25 years of age and have grown up with personal computers, cell phones, the internet, text messaging and social media. They are taking their place in a world where the only constant is rapid change. To that, our entrepreneurship programs are focused on developing knowledge and critical thinking skills in an action-based, learn-by-doing setting.
To support outside economic development activities in order to strengthen the entrepreneurial ecosystem in our community and state.
2021-2022 impacts - Business expertise - facilities - startup success - eda grant - student success - external engagement - participation & support - Ways to engage 15141287654 3
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To assist faculty members and the Auburn Research and Technology Foundation in their efforts to commercialize Auburn University research and intellectual property.
To provide physical space, workshops, mentoring, coaching, and experiential learning that will accelerate the development of new venture ideas.
To provide the educational foundation, critical thinking skills, and techniques for developing ideas that will lead to a successful business.
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OUR goals
The New Venture Accelerator is jointly managed and governed by Auburn University’s Harbert College of Business and the Auburn Research and Technology Foundation (ARTF).
IMPACT: business expertise
To accomplish our goals, we are growing our team of Entrepreneurs-in-Residence who bring real world experience for the benefit of students, faculty, and the community at large through coaching, counseling, and mentoring.
Zane Barbao, Senior, Management and Entrepreneurship
Entrepreneur-i WARD SWIFT
professionally form a business and present it to investors, I’ve also made invaluable connections with outstanding mentors who inspire me to give back.”
Founder, Feature Finder
Entrepreneur-i sCOTT MCGLON
Jesse Stewart
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“Any time you are insanely passionate about executing your dream it’s very easy to feel isolated. Being in the New Venture Accelerator, you get to be around other entrepreneurs who are just as passionate as you are, just as crazy as you are about their project.”
two businesses received a combined $30 million in funding.
exchange on the African continent, were some of the first participants in what is now known as the New Venture Accelerator.
SECURED $15 MILLION IN SERIES A FUNDING business startup success
impact:
SECURED $15 MILLION IN SERIES A FUNDING
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Financing for Flashtract, the fastest growing provider of try, makes it one of the most successful start-ups in Auburn entrepreneurship history.
impact: entrepreneurialexpanding ecosystem
The entrepreneurial ecosystem at The Park at Auburn combines a business and research environment that fosters creativity and innovation, embraces collaboration, and promotes partnership. It leverages Auburn University’s Intellectual Property Exchange (IPX) assets to technology-based economic development by facilitating technology transfer, developing industry partnerships, nurturing new business ventures, and attracting knowledge-based companies to the park.
In September 2021, Auburn University and the New Venture Accelerator (co-principal investigators Cary Chandler and Lou Bifano) was awarded a $1.3 million EDA grant to foster robust economic growth in the Auburn-Opelika MSA.
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impact:
1st
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Auburn baseball pitcher Brooks Fuller made a winning pitch of another kind – winning the Harbert College of Business’ third annual Halloween Pitch Competition. successstudent
“The New Venture Accelerator has been a huge asset to our development team. I encourage students who have that ‘crazy idea’ for a business model to contact Professor Bifano and his team of entrepreneurs. Having access to professionals within the entrepreneurship department has allowed our business to grow in various ways.”
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- Brooks Fuller,FinanceSenior Founder, Move Day
$5,000 in prize money
“After witnessing today’s competition, Lou Bifano and his team have seized my initial concept and advanced it full entrepreneurial ecosystem and is producing outstanding entrepreneurs with a unique Auburn authenticity and flavor.” Mark Forchette, ‘81 Marketing, President & CEO, Delphinus Medical Technologies
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18 $61,000 in seed funding 9
1ST PLACE: IGNTE2ND PLACE: bEST rOPING dUMMY3RD PLACE TIE: TOFT 21533RDBYPLACETIE:fEATUREfINDER FINAL FOUR TIGER CAGE FINALISTSimpact: successstudent The FINAL FOUR Tiger Cage finalists represented the Samuel Ginn College of Engineering, the Harbert College of Business, the College of Agriculture, and the College of Liberal Arts. Tiger Cage and Entrepreneurship have truly become a university-wide initiative. Led by Jacob Cordero, business administration, and Emmett Deen, Computer Science, IGNTE is a platform that gives organizations a means of showing their sponsor’s ads on Twitch. “One of the greatest struggles with our startup was taking the idea and refining it to a real-world application. Tiger Cage helped us immensely with that process and - Jacob Codero, Co-Founder, IGNTE 10
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The Best Roping Dummy was the recipient of the Thomas Walter Center special award for hardware prototyping.
partner support
IGNTE was the recipient of the Burr & Forman legal services in-kind award.
- Will Jordan, Founder, Best Roping Dummy
"Participating in Tiger Cage has been an incredible and rewarding experience. I have always been an entrepreneur, but this competition pushed me to hone my business and pitching skills. I would encourage anyone with an idea to give this program a shot; the work is worth the reward.“
Jesse Stewart, Tiger Cage Finalist, founder of Toft by 2153, and teammate Brianna Parmley, earned 4th place in the 2022 SEC Student Pitch Competition
impact: engagementexternal Pitch competitions | lunch & learns | workshops | guest speakers | and more 12
Parker Duffey, Co-Founder and Chairman, Tailgate Guys, hosts the Board Meeting of the Boys & Girls Clubs of Greater Lee County. Richard B. Curry, Jr., President & CEO said, “Thank you for your willingness to share your space with us - words cannot express how much this simple gesture has transformed our board engagement and experience!”
Dr. Lakami Baker hosts entrepreneurial skills training classes for students that are participating in Auburn University’s Youth Success Plus Program.
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President, Esposito Global Ken Evola
impact: &participationSupport
RSquare Consulting, Inc. Richard Sesek
Samuel Ginn College of Engineering
Samuel Ginn College of Engineering Dan O’Keefe
Director of Employee Connectivity, Fetch Rewards
Teresa Vick
Managing Director, PWC Ben Finley
Ron Schier
Greg Cessna
Owner, Yet Another Broken Egg Virginia Trinkle
Senior Vice President, Regions
TheStretchSol-veRoverRNAPhotoOMNISMoveJustIGNTEGoReceiptFeatureEvaysiaEndeavorFinderLikeHomeDayFactoryNaturalN’GoBestRoping Dummy The Coexistence Project ToftWIREDby 2153 We Parlay 2022 TIGER PARTICIPANTSCAGE 2022 TIGER CAGE JUDGES Best Roping DeadCoexistenceDummyProjectBirdDuckCallsFeatureFinderIGNTENanoxortOMNISRNANaturalSmartStallSwiftSkuToftby2153WELLBLOxSWeParlayVulcanLineToolsXOArmor111Investments 2022 TENANTSNVA 14
Dennis Weese Chairperson, West Point Optical Group
President and CEO, Delphius Medical Technologies
Mark Mettelman
Co-Founder, Triad Advisors Luke Oeding
Founder, The Finley Group Mark Forchette
Executive Director, Economic and Social Justice Center, Miles College Tim Denison President, GDI LLC Mark Esposito
Associate Professor of Mathematics and Statistics, Auburn University Dan O’Leary
Chief Revenue Officer, Aspirent Consulting Ralph Runge
CFO and Chief Operations Officer, Progress Bank
CEO Consumer Fresh Produce Ben Conry Co-Founder, Flashtract Olivia Cook
Matt Kemph In-Q-Tel Mark Ledbetter SVP, Solution Engineering, Cloudera, Inc. Dabsey Maxwell
TIME & TALENT impact: ways engageto Help those looking to start a new business or who may need help growing an existing one— be it a gift of time, talent, or treasure. Mentor a Student Judge a Pitch Competition Be a Guest Speaker Host a Lunch & Learn Lead a Workshop Tell Your Story Entrepreneurs-in-ResidenceScholarshipsPitchCompetitionsFacilityEnhancementsSpeakerSeriesEarly-StageSeedFunding TREASURE 15
where innovation begins
