IBIE Spring 2024 Program Update

Isabella Bank Institute for Entrepreneurship

PROGRAM UPDATE

Spring 2024

FEATURED 6 2

12

4 10

13 16 17

14 2 4 6 10 12

NEW VENTURE CHALLENGE NEW VENTURES. NEW OPPORTUNITY. NVC WINNERS NVC SPOTLIGHT THE JOURNEY TO NVC

15 13 14 15 16 17

PROTOTYPING IN THE DEN WAKELING GENDRON ENTREPRENEURS UNIVERSITY INTERNATIONAL FELLOWS MENTOR SPOTLIGHT ACORN AWARD WINNERS

ADVENTURE A VENTURE | FALL 24 EVENTS SEP

Michigan Collegiate Startup

NOV

16

Challenge Info Session

01

Michigan Collegiate Startup Challenge

Mon | 7:00-8:00 pm | GR 166

NOV

NVC 103: Know Your Customer

04

Mon |6:30-7:30 pm | GR 150G

NOV

NVC Mentor Meetup

07

Thur | 5:00-8:00 pm | GR 150G

Fri |Northern Michigan University

OCT

NVC Kick-off & Ideation

02

Wed |5:30-7:30 pm | GR Atrium

OCT

Meet the NVC Mentors Night

10

Thur |5:30-8:00 pm | Valhalla Axe Throwing

NOV

OCT

Mentor Fusion: Orientation &

Mentor Office Hours

08

11

Idea Powerhouse

Fri|10:00 am-12:30 pm | GR Study Rooms

NOV

Make-a-Pitch Workshop

Fri |10:00-12:00 am |Gr 150G

OCT

19

NVC 101: Success Track

Tue |6:30-7:30 pm | GR 150G

16

NOV

Practice Pitch with the Mentors

Tue |6:30-7:30 pm | GR 150G

21

Thur |12:00-3:00 pm| GR Study Rooms

OCT

NVC 102: A Winning Venture

NOV

22

Make-A-Pitch

Tue |6:30-7:30 pm | GR 150G

21

Thur|4:30-8:30 pm | Park Library

Scan to RSVP for the events

A MESSAGE FROM THE IBIE TEAM We are incredibly proud of our student entrepreneurs!

All year, the IBIE team worked with driven students with incredible and creative ideas, starting with the NVC Kick-Off Ideation Challenge in the fall and culminating with the New Venture Challenge in the spring.

Students often come to us with doubts about their ideas, pitches, and business knowledge, seeking ways to stand out in a competitive job market. It’s crucial to offer them diverse experiential and educational opportunities. Programs and resources like the IDEA Den, the Wakeling and Gendron Entrepreneurial Scholars, University Innovation Fellows, and the New Venture Challenge equip students with essential skills and experiences for the real world. Your support of IBIE programs directly impacts the next generation of CMU entrepreneurs.

We hope you enjoy our update on these exciting opportunities.

Cheers to another great year!

Kaye Reimers | Program & Event Manager Isabella Bank Institute for Entrepreneurship

A big thank you to the mentors, judges, supporters and partners that make what we do possible at the Isabella Bank Institute for Entrepreneurship.

A super special thank you and shoutout to the best student team in the world!

Amy Adams | Graphic Design Coordinator Jazlyn Coles | Ambassador Ekhomen Ehimen-Ebitibituwa | Graduate Assistant Jada Gardner | Communications Coordinator Connor Johnson | Tech Coordinator Reeve Katt | Event Coordinator Skky Lawrence | Graphic Design Coordinator Reshma Chowdhary Potluri | Ambassador Breanna Prince | Communications Coordinator Jackson Raymond | Ambassador

NEW VENTURE C SPRING 2024

$101,000 IN CASH PRIZES AWARDED 106 Participants 55 Judges 66 Preliminary Teams

30 Elevator Pitches 10 Finalist Teams 1 Overall Winner

CHALLENGE NVC Keynote Thank you to our Keynote Speaker, Courtney Lorenz for inspiring over 300 at the April 2024 NVC! Courtney is the founder of Northern Michigan’s first kombucha tea brewery, Cultured Kombucha. Courtney desires to share the health benefits reaped from living foods. She believes that each body has unique nutritional needs on the contrary to what is currently taught.

Courtney is a lifelong food and beverage entrepreneur who creates value in the health and wellness industry. She is a Certified Culinarian through the American Culinary Federation, Reiki Master, certified meditation facilitator, and NASM nutritionist. She has been published in Forbes, received five 40 Under 40 awards, and was the Great Lakes Culinary Institute’s Alumni of the Year 2019. In 2022 Courtney received an Alumnae of the Year award from Central Michigan University. She holds multiple businesses with her most current holding a top 3 nomination for Small Business of the Year in Traverse City, Michigan.

Centering her life on the pursuit understanding health and wellness, Courtney’s personal mission is to help inspire others to take action and connect to their own health journey.

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NEW VENTURES. NEW OPPORTUNITY.

NVC ‘24 heralded in a new competition category:

Alternative Entrepreneurial Pathways- Powered by Doug Parker As demographics shift and seasoned entrepreneurs seek retirement, the demand for innovative approaches to business ownership is at an all-time high. Alternative Entrepreneurial Pathways powered by Doug Parker caters to a diverse array of entrepreneurial journeys, giving students a platform for charting unconventional routes to success. This category represents the evolving needs of student entrepreneurs, whether they’re inheriting family legacies or eyeing the acquisition of existing ventures.

In addition to the new AEP category, we introduced three additional awards, the Doug Parker Rural Impact Award, Bob Larson Creativity Award, and the Campus Impact Award. With the growth of the NVC competition, we can celebrate the spirit of innovation and enterprise in all its forms.

A big thank you to the donors and supporters who made the 2024 New Venture Challenge possible.

Your contributions foster the next generation of CMU entrepreneurs, • • • • • • • • •

Isabella Bank Brenda & Dennis Buckler College of Business Administration CMU Greg & Sue Cocke Middle Michigan Development Corporation The Korson Family The Reed Family The Labelle Family Tom & Vicki Celani Student Venture Capital Fund

• • • • • • • • •

Team Financial Group, Inc. John G. Kulhavi Bob Larson Michael & Dianne Morey Kristie Nystedt Doug Parker Lyndell Patrick Clyde & Jessica Rucker Matthew Skornicka

“Supporting student entrepreneurs in several pathways is key to our vision at IBIE”- Julie Messing, IBIE Director Senior Gavin Kushmaul Restoration 1 Detroit AEP Winner

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2024 NVC WIN High Growth

1st Place: $10,000

2nd Place: $5,000

3rd Place: $2,000

Dominator Cleats Lawai’a Brown

Buff Co. AJ Kostic

ChXpt Rocio Costilla & Marisa Lopez

1st Place: $10,000

2nd Place: $5,000

3rd Place: $2,000

Happypets Lodge Maxwell Grubaugh & Kendyl Wilson

Tides & Tiaras Alina Krasinski

North Woods Music Jacob Mcleod

1st Place: $10,000

2nd Place: $5,000

3rd Place: $2,000

Atti Naomis Foundation Omomoemi Agbegha

Lead You Home Incorporated David Abilez

Sustainabowl Meenakshi Cheella & Rohith Sangars

Main Street

Social Mission

NNERS Overall Best Venture

Alternative Entrepreneurial PathwaysPowered by Doug Parker

$10,000

$5,000

Dominator Cleats Lawai’a Brown

Restoration 1 Detroit Gavin Kushmaul

The Lyndell Patrick Elevator Pitch Competition

Best Overall Pitch: $4,000

2nd Place: $2,000

3rd Place: $1,000

Edgewater Estate Management Trevor Shuman

The Roxie Mela Hammond, Savana Stewart & Jerome Essenmacher

Porta-Wall Marcus Shannon

Honorable Mention: $250

Honorable Mention: $250

Honorable Mention: $250

Raygun Digital Media Justin Miller

Mapscratched Carolina Hernandez Ruiz

KTemp Kenneth Tate

Impact & Creativity

Bob Larson Creativity Award: $5,000

Doug Parker Rural Impact Award: $5,000

Campus Impact Award: $5,000

The Roxie Mela Hammond, Savana Stewart & Jerome Essenmacher

Tides & Tiaras Alina Krasinski

Collegiate Coffee Company Nick O’brien

Venture Gallery

1st Place: $4,000

Team Financial Group, Inc 2nd Place: $2,000

3rd Place: $1,000

Lead You Home Incorporated David Abeliz

Crcl Derek Ballas & Joshua Linn

Main Attraction Retail Mackenzie Good

Brenda & Dennis Buckler Honorable Mention: $250

Brenda & Dennis Buckler Honorable Mention: $250

Rasegan Outdoor Company Robert Rasegan

Polarflex Mitchell Metiva

Audience Choice

Greg & Sue Cocke Top Venture Gallery: $1,000

Team Financial Group, Inc. Top Innovation Showcase: $1,000

Team Financial Group, Inc. Runner-Up Venture Gallery: $500

ChXpt Rocio Costilla & Marisa Lopez

Threads Fashion Show Charlize Wright, Sarahi Flores, Brady Pitcher, Lauren Fulk, Sophie Dehn & Shelby Taber Threads Fashion Show

Sustainabowl Meenakshi Cheella & Rohith Sangars

Team Financial Group, Inc. Runner-Up Innovation Showcase: $500 Chippewa Racing FSAE Nathan Holder, Alec Reilly, Nolan Mango, Matthew Wakulsky, Temirlan Jandaliyev, Breckin Prichard, Kyle Kieser, Ethan Williams & Williams Lyons

Investor & In-kind

Matthew Skornika: Free accounting services for 1 year

Middle Michigan Development Corporation Investor Award: $2,000 & in-kind services

North Woods Music Jacob Mcleod

Starleaf Botanicals Ian Becker

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“I’m happy and blessed to receive this kind of recognition, and it hasn’t fully settled in yet, which is crazy as it started from a small simple idea turning into a big idea that sparked interest in so many people” - Lawai’a Brown

NVC Overall Winner:

Lawai’a Brown On the day of the New Venture Challenge finals, Friday April 19, CMU senior and football player Lawai’a Brown was the last finalist to pitch his idea in French Auditorium. “It was just like a (football) game-day experience; like coming out of the tunnel and seeing the people out there,” said Brown. “Going onto that stage it was like an unreal moment, being able to pitch your idea to these successful people.”

Brown pitched Dominator Cleats to the judges. He spoke of his experiences as a football player and passed around prototypes of his new design: a football cleat that incorporates a flexible, integral hinge, allowing the athlete’s foot to flex naturally when moving.

Brown’s journey to the New Venture Challenge began last spring in Professor John Gustincic’s ENT 495 Venture Development class. Professor Gustincic encouraged students to think like an entrepreneur and view problems as potential venture ideas. As a linebacker for the CMU football team, Brown noticed common injuries from stiff cleats like turf toe and ankle sprains. Brown credits his class and Professor Gustincic for their help, “I did not have a venture at first, but with the help of the class and Professor G, they helped me grow this idea.”

Brown’s first prototype was constructed with two football cleats cut in half and a metal hinge. Brown and Gustincic went to IBIE Tech Coordinator and mechanical engineering junior Connor Johnson to take his prototype to the next level. Johnson explained the process, “in-house 3D printing allowed us to advance the prototype. The original design had a large hinge at the break point, which proved the concept but needed more engineering.

We printed with flexible TPU filament and tested various designs to achieve the desired flexibility. The result was a prototype that looked like a standard cleat but incorporated the innovative features of the Dominator Cleat inside, giving it a sleek and polished appearance.”

Brown knew that NVC required more than his prototype to sell his idea. He needed a compelling 10-minute pitch presentation. He worked with NVC mentors and was a daily visitor at the Presentation Skills Center in the Park Library. Looking back, Brown is grateful for his experiences as a finalist, “just the connections I’ve made at this competition have helped me along the way. I’ve met so many successful people, heard their insights and stories, received their feedback. It’s a great environment to be around.”

All the hard work and practice paid off for Lawai’a. Dominator Cleats took home the Korson Family Top High Growth Award and the Morey Family Overall Best Venture Award for a total of $20,000. Lawai’a Brown is currently working with Professor Gustincic in a summer accelerator program with plans to continue the growth of Dominator Cleats.

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THE JOURNEY TO NVC

Students prepare all year to pitch their idea on the big stage!

Skill Workshops

Seasoned professionals shared their insights, experiences, and expertise during NVC Workshops.

They provided guidance and inspiration to the next generation of innovators.

Mentor Meetups

Entrepreneurship isn’t all work and no play. Social events provided opportunities for students to unwind, connect with peers, and foster a sense of community within the entrepreneurial ecosystem.

Pitch Competitions Students participated in a series of competitions, including the Michigan Collegiate Startup Challenge, Make-A-Pitch Competition, and the New Venture Challenge. These events tested their entrepreneurial skills, challenging them to showcase their ideas, creativity, and business acumen on a larger stage.

UNVEILING THE PRUSA XL:

PROTOTYPING IN THE IDEA DEN The most advanced 3D-printer on campus.

The IDEA Den is an entrepreneurial makerspace and center of innovation at the Isabella Bank Institute for Entrepreneurship (IBIE).

The Den provides space for one-on-one mentoring, open work areas and free support for product design and prototyping.

One vital component of the IDEA Den is Tech Coordinator and senior Mechanical Engineering student, Connor Johnson. He works with students to help propel their prototypes beyond the idea-phase, using his expertise in CAD software and 3D-printing to make prototypes come to life.

We’re excited to announce the Den’s newest addition: the PrusaXL 3D-printer. The large 14x14 bed, expanded printing capacity and enhanced capabilities allow us to take on larger-scale and complex projects - faster.

It is the most advanced 3D-printer on campus.

Prototyping is a free service available for all CMU students. The PrusaXL embodies our commitment to providing students with cutting-edge tools and resources that mirror the demands of the real world.

Do you want to explore the Den? Stop in to meet Connor and check out the new PrusaXL in Grawn Hall room 166!

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WAKELING GENDRON ENTREPRENEURS Founded by CMU alumni Stephen Wakeling and Erin Gendron, the Wakeling Gendron Entrepreneurial Scholars Program (WGE) launched at the start of the 2023-2024 academic year.

The WGE program started as an idea to help students through coaching, networking, and relationship building. As experienced NVC mentors, Stephen and Erin noticed a need for deeper guidance and mentorship.

“From the number of phone calls I received from students and recent alumni asking me about how to deal with the changing world, it became clear that these young people need more of this interpersonal help,” Wakeling said. “We realized they need a different kind of mentor.”

The inaugural cohort of eight students began with a trip to Atlanta, followed by visits to Detroit and the South by Southwest Conference in Austin, where they met figures like Mark Cuban. Stephen and Erin introduced the students to other entrepreneurs, connected with them as a group and one-on-one for guidance and mentorship, and exposed them to different networking opportunities. Throughout the year, scholars organize events on-campus to share their learnings.

“Our first trip to Atlanta blew my hair back,” said Fenton sophomore Mela Hammond. “Stephen and Erin were very much interested in what we all wanted to get out of the program, and they tailored the trips around that.”

Farmington Hills senior Deja Granger notes that this experience meant more than the skills she gained, “Stephen and Erin have given me the confidence to see that I belong in any room I walk into,” Granger said. “I love that I know I can reach out to them — or anyone else in the cohort — for help. I’ve built really meaningful relationships that I know I can lean on.”

Members: Neveah Banks, Deja Granger, Mela Hammond, Alina Krasinski, Erin Markovicz, Jackson Raymond, Riley Robinson, and Kenneth Tate.

UNIVERSITY INNOVATION FELLOWS 2024 marks the third year of the University Innovation Fellows (UIF) program at Central Michigan University. This program, powered by Stanford University’s Hasso Plattner Institute of Design, empowers select students to drive campus change through special learning and travel opportunities.

The UIF fellows undergo intensive training, share ideas, and attend a major conference, which this year was held at the University of Twente in the Netherlands. The 2023-2024 cohort focused on improving communication about scholarship opportunities. They identified an awareness gap between students and administrators and organized a Scholarship Fair at Finch Fieldhouse, connecting students with advisors from all colleges.The event provided crucial information before the spring deadline and helped students navigate scholarship opportunities more effectively.

Julie Messing, IBIE Director brought the University Innovation Fellows to campus in 2021 and is honored to lead the program with significant support from Lon and Vicki Bohannon.

Congratulations to the 2023-2024 UIF cohort on a successful year!

Rebecca Ball Biology

Max Hornak

Environmental Engineering

Tyler Thompson

Economics, Statistics, Music

Carolina Hernandez Ruiz Neuroscience

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2024 JEFF THOMAS

Acorn Award WINNERS

David Nows

Faculty Award Winner “I’m thrilled to share this award with each of its past recipients, all of whom have their own unique story of Jeff Thomas’s impact on them. In many ways, each of us were acorns from the oak tree that was Jeff Thomas.”

In memory of Jeff Thomas, each year the Entrepreneurship Department presents Acorn Awards to individuals who honor Jeff’s legacy and passion for entrepreneurship. The acorn represents a symbol of growth and unlimited potential, which is something Jeff was extremely passionate about. It possesses the “oak knowledge” or all the knowledge that is needed to create the mighty oak tree. The acorn teaches us about our own potential as one acorn can grow into a colossal oak tree and seed an entire forest.

Each year, two recipients receive the Jeff Thomas Acorn Award.

One recipient, a student or recent graduate and the other a faculty member or mentor. The “future oak” award will be awarded to an individual who has really “planted” themselves in the entrepreneurship program by making the most of the opportunities at CMU and has begun to show the early indicators of entrepreneurial leadership. The “oak” award can be awarded to a current or past faculty member, advisor, or alumni who has directly invested themselves, their ideas, connections, resources, time, etc. into the entrepreneurship program at CMU to help develop “future oaks”.

Matthew Skornicka

Young Alumni Award Winner

NVC SPOTLIGHT

Alumni

Spencer Scott ‘13 was originally an engineer major before deciding to switch to business administration, “I think I always knew I wanted to be an entrepreneur but it felt like it contradicted the reason you would go to college in the first place. So even though I was in the business administration program I was actively involved in the New Venture Competition and took any entrepreneurship classes I could.”

He competed in NVC with his venture Funaholic Shades: indestructable sunglasses that could float, break away and reattach, removable/interchangable lenses, sold for $10.

Unfortunately, Scott was eliminated in the first round but he didn’t let that crush his spirit.

Spencer Scott: 2013 New Venture Challenge Alum and Founder & Owner of Lone Star Trash.

Scott now owns three companies, two of which were completely funded by the customers (presales). Reflecting on advice for future entrepreneurs he notes, ”I think everything starts with the customer. If you can get someone to pay you. Then you can likely get two people to pay you. If you can get two people to pay you, you can likely get three people to pay you. And so on and so forth. The rest kind of figures itself out.”

Lone Star Trash is a family owned and operated waste removal company located in Wylie Texas.

“It (NVC) taught me to be more prepared, it taught me how to deal with failure, it taught me how to be resilient, and maybe most importantly, it taught me how to think about starting a business with no money at all.”

With a focus in residential and neighborhood trash removal, their goal is to keep your city clean while providing outstanding customer service.

THANK YOU TO OUR MENTORS! Your experience and guidance is crucial for student entrepreneurs and innovators.

• • • • • • • • • • • •

Joe Affholter Justin Ashman Emily Austin Carter Ballinger Dylan Banagis Skylar Bennethum John Bunch Bryan Caragay Hailey Caragay Casey Croad Glenn Cross Michael Drew

• • • • • • • • • • • •

Tony Fox Courtney Garrett Kelly Grace Stephen Hahn Dom Holmes Zach Huffman Zachary Konarska Anthony Lazzaro Courtney Lorenz Philip Mundt Kyle Murray Olivia Pageau

• • • • • • • • • • • •

Samantha Pina Jeffrey Punches Matthew Skornicka Eris Taylor Alexanderia Tinker Matthew Uhl Stephen Wakeling Dan Ward Emily Worline Ken Williams Penny Woelfert Lauren Zettel

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cmu_ibie

ibieannouncements

Isabella Bank for Entrepreneurship

New Venture Challenge at CMU

“A heartfelt thank you to our amazing team, mentors, alumni, and supporters for your unwavering dedication to our students and program. Your support is invaluable”- Julie Messing

Interested in getting involved? Contact Julie: 989-774-2482 | nvc@cmich.edu