Built for Spartans, FY25 Annual Report - Burgess Institute for Entrepreneurship & Innovation
Students participating in the Entrepreneurship High School Camp in the Entrepreneurship Lab at Michigan State University.
BUILT FOR SPARTANS. BACKED BY BURGESS.
The Burgess Institute for Entrepreneurship & Innovation at Michigan State University is nationally recognized for their academic programming, co-curricular experiences, access to resources, and a strong alumni network. The Burgess Institute inspires, empowers, and equips Spartan entrepreneurs to create lasting economic and social impact on campus, across the state, and throughout the nation.
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THE FUTURE DOESNâT BUILD ITSELF. SPARTANS WILL.
Letter From the Faculty Director, Laurel Ofstein
The Burgess Institute for Entrepreneurship & Innovation had another impactful year, marked by continued momentum, meaningful change, and a deepening of our commitment to student success.
We were honored to host President Guskiewicz and Interim Provost Jeitschko for an in-depth visit exploring MSUâs growing entrepreneurial ecosystem. Their presence and engagement reflected a strong commitment from university leadership to the role innovation plays in student success and institutional excellence.
A major milestone this year was the official launch of the Spartan Founders Club during the 2024 Venture Summit. Years in the making, this new initiative connected members with accomplished Spartan entrepreneurs worldwide. In addition to a financial contribution, members contribute
their time, expertise, and talents to students in the Burgess Institute, and also have the opportunity to collaborate with other like-minded Spartans passionate about investment opportunities through the Spartan Angel Networkâa new partnership between the Burgess Institute and the MSU Research Foundation. The network provides access to earlystage investment opportunities that originate from MSU.
Our team made strategic enhancements to the Entrepreneurship & Innovation Minor Experiences, ensuring more relevant, immersive, and accessible pathways for students across campus. Our flagship event in the spring semester, Burgess New Venture Challenge, evolved this year with a new format, expanded awards, and an elevated experience for students, staff and community members.
This was also a landmark year for community engagement. We hosted the inaugural 517 Entrepreneurship & Innovation Week in partnership
with the Lansing Economic Area Partnership (LEAP), Lansing Regional SmartZone, MSU Research Foundation, and the MSU Innovation Center. This week-long celebration showcased Spartan-founded startups and sparked meaningful regional collaboration across Greater Lansingâs innovation ecosystem. Additionally, we expanded our External Advisory Board with new voices and industry leaders committed to shaping the future of entrepreneurship at MSU.
As we look ahead, Iâm excited to continue championing the creativity and drive of MSUâs student builders, creators, entrepreneurs and innovators alongside our vibrant community of supporters. Hereâs to another year of bold ideas and Spartan excellence.
LAUREL OFSTEIN FACULTY DIRECTOR
Tamira Chapman (BA Supply Chain Management, â01), CEO of Storehouse In a Box, speaking at the Entrepreneurship High School Camp, on behalf of the Chapman Family Foundation.
11
UNDERGRADUATE ENTREPRENEURSHIP PROGRAM NATIONWIDE
The Princeton Review & Entrepreneur Magazine
150
UNDERGRADUATE MAJORS REPRESENTED IN THE MINOR IN ENTREPRENEURSHIP & INNOVATION
COMPANIES IN BUSINESS AFTER 10 YEARS 1 10
325M
FOLLOW-ON FUNDING RAISED IN THE LAST 10 YEARS
CREATOR: BLUTHREADS & CO.
MEGAN TIMMERMAN
For many entrepreneurs, the journey begins with a spark of inspiration. For Megan, it began with a moment that changed everything.
Raised in a multi-generational household, she was profoundly shaped by the love and guidance of her grandparents. Their passing left a void that words couldnât fill. Seeking connection, she invested in an embroidery machine, hoping to channel her emotions into something tangible. At the time, she was pursuing a degree in social work. Starting a business wasnât part of the plan. She was simply looking for a creative outlet.
However, when strangers began asking about the embroidered clothing she woreâeach piece a personal reflection of healing and
memoryâher project quickly evolved into something more. Bluthreads & Co., is a venture that blends her passion for creativity, advocacy, and purpose.
As Bluthreads & Co. expanded, specifically with the Teddy Bear design that was popular on MSUâs campus, the mission also grew. Rooted in the values of community, empowerment, and social justice, Bluthreads stands for more than fashion. The long-term vision for Bluthreads & Co. is to continue fostering community, empowerment and social justice. Timmerman hopes to turn Bluthreads & Co. into a nonprofit supporting mental health awareness and uplifting women, and communities.
The entrepreneurial journey is rarely a straight line and hers has been no exception. Along the way, sheâs navigated the realities of ADHD,
impostor syndrome, and mental health challenges. Missed deadlines and overlooked emails once felt like failures, but sheâs learned to see them as part of the process. Building a business while growing as a person has taught her that success doesnât follow a single path. Itâs messy, uncertain, and often nonlinear but itâs also where resilience, grace, and growth take root.
With the support of her community and her emotional support dog, Blu, she continues to build something bigger than herself. Her entrepreneurial path, born from personal loss, is now driven by a powerful hopeâto create space for healing, advocacy, and belonging for herself and for others.
INNOVATORS: BRCE
MADHAV AGGARWAL TANVI GADAMSETTI
BRCE, a material tech startup, didnât begin in a classroom or a pitch competition. It began with a problem and two Spartans unwilling to let it go unsolved.
Tanvi Gadamsetti and Madhav Aggarwal came to MSU from different worlds. One a former track athlete driven by the pain of preventable injuries, and the other an international student fueled by the weight of his familyâs sacrifice. They shared a belief that real problems deserve real solutions and that athletes, especially women, and those outside the spotlight are underserved by the gear meant to support them.
The co-founders immersed themselves in hands-on innovation: building prototypes in the lab, experimenting with materials, and learning through iteration. One of their earliest breakthroughs
happened unexpectedly while examining their woven composites under a microscope, they discovered the formation of microscopic ridges. That insight led to the development of Microscopic Interlock Technology, now patented as a key component of their high-performance gear.
In the early stages, Gadamsetti and Aggarwal assumed that sharing every responsibility would strengthen their collaboration. Instead, the lack of structure hindered their progress. A series of early challenges, including a loss at the Burgess Instituteâs 2DAY VENTURE , prompted a critical shift in their approach. They came to understand that clearly defined roles, strategic alignment, and mutual trust were essential for sustainable growth.
Every challenge, from failed pitch competitions to skeptical feedback, became fuel. Instead of walking away, they dug deeper by refining their product, reshaping their messaging, and rebuilding their process. What began as an early-stage concept
gradually evolved into a validated solution, not tested in academic settings but by real athletes at consumer-facing events such as SneakerCon Detroit, where their initial prototypes gained traction with paying customers.
What sets BRCÄ apart isnât just the science behind the materialâitâs the purpose behind the mission. Built with intention and tested by adversity, the startup stands as a symbol of whatâs possible when innovation is rooted in lived experience and Spartan grit. For Tanvi and Madhav, BRCÄ is more than a startup, it is a reflection of values that is rooted in research, shaped by experience, and supported by Michigan Stateâs entrepreneurial ecosystem. BRCÄ is advancing a new standard in athletic performance and protection.
Finalists of the 2025 Burgess New Venture Challenge gather after representing their ventures and receiving funding.
BUILDER: LIMITLESS CLUB
EVEREST NOYES
What started as a spark of curiosity in an MSU classroom turned into a full-fledged movement.
For Everest Noyes, founder of Limitless Club, entrepreneurship began with a question: What if students could give back to the very people who inspired them?
While enrolled in the Entrepreneurship & Innovation minor, Noyes found himself consistently energized by student guest speakersâpeers who were building startups, taking risks, and openly sharing their journeys. But through conversations after class, he realized something was missing. These student entrepreneurs often left the stage with applause, but little tangible support.
That disconnect became the foundation for Limitless Club, a
student consulting group to turn novel business ideas into a tangible reality. Everest envisioned a space where entrepreneurs could not only pitch their ideas, but also receive valuable feedback, support, and problemsolving from students across campus. âI just wanted to be in the room with people I thought were cool,â Noyes admits. But that initial drive soon evolved into a mission to create real value for student founders and real experience for their peers.
Today, MSU Limitless Club is the only student-run consulting organization focused exclusively on early-stage student venture on campus. With a come-as-you-are model, Limitless Club invites Spartans from all majors to join, collaborate, and gain handson experience by working directly with startups. Their open-format meetings offer something rare: real ownership in helping build and grow student-led businesses.
A defining moment for Noyes came after partnering with Women in Entrepreneurship to prep students for a pitch competition. âThat was the lightbulb,â he reflects. âWe realized our identity was rooted in helping student entrepreneurs grow. That became our north star.â
Building Limitless came with its challenges. Establishing a new organization in a competitive space required resilience, strategic thinking, and the willingness to take risks. But the impact has been clear: Limitless has not only become a valuable resource for student founders, but also a launchpad for the next generation of entrepreneurial leaders at MSU.
Through this initiative, Everest Noyes has helped redefine what student entrepreneurship can look like, focusing not only on the venture, but on the community that supports it.
VISIONARY:
LEADING DERMATOLOGIST + DIGITAL HEALTH ENTREPRENEUR
DHAVAL BHANUSALI
Dhaval Bhanusaliâs path to entrepreneurship began earlier than most. At just 17 years old, he was accepted into medical school through Michigan State Universityâs Medical Scholars Programâa highly selective track that set the stage for a career defined by innovation and ambition.
During his time at MSU, he earned both the Spartan Scholarship and the Arthur L. Foley Memorial Scholarship, academic honors that reflected his drive and potential in equal measure. After completing his medical training, Dr. Bhanusali pursued a dermatology residency at Mount Sinai Hospital in New York City.
In 2019, Dr. Bhanusali was selected as a Distinguished ScholarâAlumni of the Year for Michigan State University. In 2020, he was awarded the âPatient Care Heroâ award by the American Academy of Dermatology for his work treating scars and the AAD Presidential Citation in both 2024 and 2025 for his representation of the field.
In his career, Dr. Bhanusali has built numerous digital health companies in hopes to better the world. He built HairStim Labs, a company Cosmopolitan tapped as one of their favorite options for receding hairlines and Skin Medicinals, a pharmatech company focused on providing accessible medications for patients. Skin Medicinals now serves over 17,000 Dermatology prescribers, has donated hundreds of thousands and saved the health care system over $250 million dollars. More recently,
Dr. Bhanusali launched AIRE Health, a platform that allows thousands of Dermatologists the ability to distribute discounted skincare products to their patients. He also serves as an advisor for Ephemeral, a tattoo startup working to create nonpermanent radiation cancer tattoos.
Dr. Bhanusali is also active in the skincare world, noted as the âKing of Formulationâ by Elle Magazine and Forbes. He was also selected as part of Allureâs âA-Listââ8 individuals changing and shaping beauty.
Dr. Bhanusali helped formulate Amazonâs first skincare line. He went on to be the founding Dermatology partner in Rhode, the skincare line by Hailey Bieber (recently sold to E.L.F. Beauty for $1 Billion).
Most recently, he announced the launch of Elm Biosciences, a skincare biotechnology company with Martha Stewart. Earlier this year, he was named the Global Innovation Partner for Kenvue, helping lead brands like Neutrogena and others.
Dr. Bhanusali still practices in his office in Hudson Yards, where he is joined by 5 other Dermatologists.
Called âthe office of the futureâ by Haute Living and âThe Destination for Beauty Innovationâ by Forbes, he focuses most of his personal work on complex scars and has had his cases get worldwide recognitionâcovered by outlets like ABC News, People Magazine, the Today Show and others.
Outside of the above, Dr. Bhanusali actively invests via his VC armâ Health Digital Ventures. His investments include hotels, restaurants, sports teams and CPG brands.
Driven by a desire to expand access and improve outcomes, Dr. Bhanusali has gone on to launch a number of ventures at the intersection of medicine, technology, and consumer products. He has made a name for himself as both a trusted physician and a trailblazing entrepreneur.
Throughout his entrepreneurial journey, Dr. Bhanusali credits much of his growth to the people who supported himâfrom mentors at MSU and Mount Sinai, to fellow entrepreneurs and colleagues who encouraged his vision. Most importantly, he cites his family as his daily inspiration, working hard to live up to the examples they set for him.
Minor in Entrepreneurship & Innovation
The Minor in Entrepreneurship & Innovation gives students the mindset, skills, and experiences to create meaningful change. Combining flexible coursework with high-impact, real-world learning, this 15-credit minor prepares students from any major to understand entrepreneurship as a viable career path and confidently launch ventures, lead teams, or drive change.
Venture Summit
Venture Summit is an annual gathering of Spartan leaders, entrepreneurs, and innovators dedicated to discussing important topics and advancing entrepreneurship education at Michigan State University.
Innovate State Speaker Series
The Innovate State Speaker Series brings emerging and accomplished Spartan entrepreneursâinnovators, builders, creators, and visionariesâto campus for a live, unscripted fireside chat. These 60-minute sessions offer the chance for guests to share their perspectives on a wide array of topics like innovation, startup life, investments, and career paths. These are stories of success, stories of failures, and stories of uncommon willâ and you do not want to miss them.
Student-Made
MINDSET CREATION WHERE SPARTANS START
2DAY Venture
2DAY VENTURE (2DV) is a 36-hour entrepreneurial workshop and experience where Spartans, regardless of their home college, major, or background, develop early-stage ideas with the space, structure, and support to turn them into reality.
Student-Made Michigan State is an online and on-campus marketplace for student makers and creators to sell their products and services. The program includes a centralized online marketplace, six oncampus market locations, pop-up events and a nationwide network of creators.
Burgess New Venture Challenge
Burgess New Venture Challenge is the premier pitch competition for student entrepreneurs at Michigan State University, providing a transformational experience to compete for $50,000+ in funding.
MOMENTUM Pre-Accelerator
The Momentum Pre-Accelerator is a free, six-week immersive experience for Spartan entrepreneurs. The program provides students with seed funding, one-on-one and expert mentorship, and programming designed to set a path for founders to participate in future accelerator programs and investment opportunities.
Venture Kitchen
Venture Kitchen is a licensed commercial kitchen located in the MSU Union that equips students with the regulated production space, individualized guidance, and commercial-grade equipment required to advance ventures involving recipe testing, food packaging, and cosmetic product development.
Venture Creation Program
The Venture Creation program is where Spartans build whatâs nextâ with the space, structure, and support to grow ideas into something bigger.
From Discovery to Launch, the Venture Creation program is designed for students ready to explore an idea and start their own businesses.
Spartan Founders Club
The Spartan Founders Club is a community of accomplished Spartan entrepreneurs who provide strategic guidance, industry expertise, and philanthropic support to strengthen Michigan State Universityâs entrepreneurial ecosystem. Established by the Burgess Institute for Entrepreneurship & Innovation, the Club connects founders across industries and regions to advance student venture development, expand mentorship opportunities, and elevate entrepreneurship and innovation at MSU.
ALUMNI
Spartan Angel Network
The Spartan Angel Network is a community of alumni investors dedicated to supporting early-stage ventures founded or led by Spartans. Through capital, mentorship, and industry connections, the network strengthens the pathway for Spartan entrepreneurs to develop and scale their ventures.
Alumni Venture Support Program
The Alumni Venture Support Program connects Michigan State University alumni with valuable resources and opportunities in their entrepreneurial journey. These initiatives empower the MSU entrepreneurial ecosystem by facilitating connections, fostering talent development, and supporting new business growth.
