WPI Announcements RSS Feed / RSS feed for notices and information from WPI divisions, departments, and offices. en Celebrating Innovation and Entrepreneurship at WPI: Highlights from the i3 Lab Demo Day 2025 /news/announcements/celebrating-innovation-and-entrepreneurship-wpi-highlights-i3-lab-demo-day-2025 <p><span>馃殌 Demo Day 2025 at WPI鈥檚 i3 Lab was a success! On September 24th, the Innovation Studio was transformed into a hub of creativity, entrepreneurship, and inspiration as student founders pitched their ideas for a share of $60,000+ in prizes.</span><br><span>We are thrilled to celebrate the hard work, courage, and ingenuity of every team that took the stage 鈥?and to recognize this year鈥檚 winners:</span></p> <figure> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <figcaption>WPI President Grace Wang</figcaption> </figure> <p><span>馃敡 饾檮饾櫍饾櫂饾櫔饾櫁饾櫀饾櫓饾櫈饾櫎饾櫍 饾樉饾櫀饾櫓饾櫄饾櫆饾櫎饾櫑饾櫘</span><br><span>馃 饾棡饾棶饾椆饾棽饾椈饾椂饾棶饾椈 饾棓饾槃饾棶饾椏饾棻: QuickEst Estimations Inc. 鈥?Russell Hertel 鈥?7 (RBE), Luis Alzamora 鈥?6 (RBE)</span><br><span>馃 饾棤饾椂饾椄饾棽 饾棓饾棷饾椏饾棶饾椇饾榾 '饾煶饾煶 饾棓饾槃饾棶饾椏饾棻: BrailleBox 鈥?Jelaleddin Gylychmuhammedov 鈥?7 (RBE), Octavio Bittar 鈥?7 (ECE), Minh Ha 鈥?7 (CS)</span><br><span>馃 饾棔饾槀饾榾饾椂饾椈饾棽饾榾饾榾 饾棪饾棸饾椀饾椉饾椉饾椆 饾棓饾槃饾棶饾椏饾棻: HydroFlex 鈥?Jack Shanks 鈥?6 (ME)</span><br><span>馃弲 饾棯饾椂饾椏饾棽 饾棜饾椏饾椉饾槀饾椊 饾棓饾槃饾棶饾椏饾棻: EpiSafe - Aaryan Panchal '28 (RBE), Ezra Yohay '25 (Phys), Khushal Sharma '27 (ECE), Ethan Takvorian '28 (RBE), Joshua Kashambala&nbsp;</span><br>&nbsp;</p> <p><br><span>馃殌 饾檮饾櫍饾櫍饾櫎饾櫕饾櫀饾櫓饾櫈饾櫎饾櫍 饾樉饾櫀饾櫓饾櫄饾櫆饾櫎饾櫑饾櫘:</span><br><span>饾棪饾榿饾椏饾棶饾棿饾棽 饾棞饾椈饾椈饾椉饾槂饾棶饾榿饾椂饾椉饾椈 饾棓饾槃饾棶饾椏饾棻: FellowBridge - Dan Nguyen 鈥?6 (CS), Ana Merlo '25 (MS BA), Antonela Tamagini '25 (MS CS)</span><br><span>饾椂饾煰 饾棢饾棶饾棷 饾棓饾槃饾棶饾椏饾棻: Cybele Technology - Maxwell Markey (PhD Chem)</span><br><br><span>馃挕 饾檮饾櫃饾櫄饾櫀饾櫓饾櫈饾櫎饾櫍 饾樉饾櫀饾櫓饾櫄饾櫆饾櫎饾櫑饾櫘:&nbsp;</span><br><span>饾棖饾椉饾椏饾椈饾棽饾椏饾榾饾榿饾椉饾椈饾棽 饾棔饾棶饾椈饾椄 饾棓饾槃饾棶饾椏饾棻: Christy Lam 鈥?6 (CS)</span><br><span>饾棗饾槀饾棶饾椈饾棽 饾棗. 饾棧饾棽饾棶饾椏饾榾饾棶饾椆饾椆 饾棓饾槃饾棶饾椏饾棻饾榾 馃敟:</span><br><span>FireMap - Tair Kareneyev '27 (RBE &amp; CS)</span><br><span>Firewise - Dimitris Graikos '25 (MS BA)</span><br><br><span>饾棧饾棽饾椉饾椊饾椆饾棽'饾榾 饾棖饾椀饾椉饾椂饾棸饾棽 饾棓饾槃饾棶饾椏饾棻: Venturly - Khushali Shah '26 (MS Fintech), Labhesh Mahajan '26 (MS CS), Rohan Solipuram '26 (MS Fintech), Mihir Kate '25 (CompE)</span></p> <hr> <p>&nbsp;</p> <figure> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <figcaption>Provost Andrew Sears</figcaption> </figure> <p><span>We were honored to have Provost <strong>Andrew Sears</strong> and Interim Dean of Business School Kwamie Dunbar open the day with a powerful message about the importance of student innovation, and President <strong>Grace Wang</strong> conclude the event and open the evening session, inspiring our community to keep pushing the boundaries of what鈥檚 possible.</span></p> <figure> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <figcaption>Interim Dean Kwamie Dunbar</figcaption> </figure> <p>&nbsp;</p> <p><br><span>We were also privileged to host <strong>Anthony Galgano</strong>, Owner &amp; President of <strong>True Robotics, Inc.</strong>, as our keynote speaker. His story of perseverance and growth deeply resonated with the audience, and he was recognized with the Vignaly Commercialization Fund "Spirit of Joe Award" by the WPI OTIE.</span><br><span>This event would not have been possible without the dedication of our judges: <strong>Christine Murner</strong>, <strong>Evan Cox</strong>, <strong>Geoff Strage</strong>, <strong>Greg Dalle-Molle</strong>, <strong>Joe Klimek</strong>, Lisa A. K., <strong>Paul Kalenian</strong>, <strong>Paul Rummel</strong>, <strong>Peter Cifichiello</strong>, <strong>Roman Fayerberg</strong>, <strong>Sandhya Balasubramanian</strong>, <strong>Tara Ostromecky</strong>, and <strong>Zachary Dutton</strong> 鈥?thank you for lending your expertise.</span></p> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p><span>We also extend our deepest gratitude to our donors and supporters: <strong>Auxilium</strong> Worcester, Aram and Alba Kalenian Award, Henry and Alberta Strage Award, <strong>New England Innovations</strong>, Wire Group, Cornerstone Bank, Joe Klimek 鈥?4, <strong>Bowditch &amp; Dewey, LLP</strong>, <strong>WPI Business School</strong>, <strong>Michael Abrams</strong> 鈥?7, Duane D. Pearsall, and WPI OTIE.</span><br><span>Finally, thank you to the entire WPI community and guests 鈥?who joined us to celebrate entrepreneurship and innovation. Your energy made this Demo Day truly special.</span></p> Wed, 01 Oct 2025 12:00:00 +0000 jgylychmuhammedo /news/announcements/celebrating-innovation-and-entrepreneurship-wpi-highlights-i3-lab-demo-day-2025 Goat Impact Summer Accelerator (GISA) Applications Are Open! /news/announcements/goat-impact-summer-accelerator-gisa-applications-are-open <p><span><strong>Program Overview:</strong> The </span><a><span>Goat Impact Summer Accelerator (GISA)</span></a><span> is an immersive 7-week program designed specifically for student entrepreneurs aiming to transform their innovative ideas into viable businesses. GISA provides participants with structured mentorship, hands-on workshops, and a vibrant community environment to accelerate their startup journey and prepare their ventures for commercialization.</span><span>&nbsp;</span></p> <p><span></span></p> <p><span><strong>Program Details:</strong></span><span>&nbsp;</span></p> <ul> <li><span><strong>Dates:</strong> May 12 鈥?June 27, 2025</span></li> <li><span><strong>Location:</strong> i3 Lab, Innovation &amp; Entrepreneurship Center (2nd Floor, Innovation Studio)</span></li> <li><span><strong>Format:</strong> In-person, Monday 鈥?Friday, 9:00 AM 鈥?3:00 PM</span></li> <li><span><strong>Attendance:</strong> Full-time participation is required</span></li> <li><span><strong>Availability:</strong> Only 10 spots available.</span><span> </span></li> <li><span><strong>Eligibility</strong>: Open to undergraduate and graduate students only</span><br>&nbsp;</li> </ul> <p><span></span><span> </span><span><strong>Funding Support:</strong> Each accepted startup team will receive $5,000 in funding to directly support the growth and development of their business. Funding is awarded per startup, not per team member (e.g., a startup with one or multiple team members will receive a total of $5,000).</span><span>&nbsp;</span></p> <p><span></span><span> </span><span><strong>What to Expect:</strong></span><span>&nbsp;</span></p> <ul> <li><span><strong>Practical Workshops:</strong> Gain critical business skills through interactive sessions focused on business modeling, customer validation, fundraising strategies, pitching, and more.</span></li> <li><span><strong>Mentorship:</strong> Work closely with experienced mentors who provide guidance, feedback, and support throughout the program.</span></li> <li><span><strong>Networking:</strong> Connect and collaborate with fellow student entrepreneurs, industry experts, and potential investors in a dynamic startup environment.</span><span>&nbsp;</span></li> </ul> <p><span></span><span> </span><span><strong>Who Should Apply:</strong> Students with innovative business ideas that have potential for commercial viability. Applicants must demonstrate initial feasibility and be committed to dedicating their full attention to growing their ventures during the accelerator.</span><span>&nbsp;</span></p> <p><span><strong>Application Deadline:</strong> Sunday, April 20, 2025. 11:59PM</span></p> Tue, 01 Apr 2025 12:00:00 +0000 musalan /news/announcements/goat-impact-summer-accelerator-gisa-applications-are-open GOAT TANK 2025: WPI鈥檚 Top Undergraduate Startups Take the Stage /news/announcements/goat-tank-2025-wpis-top-undergraduate-startups-take-stage <p><span>Worcester Polytechnic Institute (WPI)鈥檚 <strong>i3-Lab</strong> recently hosted </span><em><span>GOAT TANK</span></em><span>, an exciting pitch competition showcasing the entrepreneurial spirit of undergraduate student startups. Organized by <strong>i3-Lab</strong> the competition brought together over <strong>20 student-led ventures</strong>, culminating in a thrilling final round where <strong>10 finalists</strong> pitched their startups in front of a distinguished panel of judges.</span></p> <p><span>The judging panel featured:</span></p> <ul> <li><span><strong>Joe Klimek 鈥?4</strong>鈥?CEO at Synergy ITS, specializing in innovation and technology adoption</span></li> <li><span><strong>Amy Swotinksy 鈥?6</strong> 鈥?Executive Transformation Coach, Team Innovation Coach, and Champion for Diversity &amp; Inclusion</span></li> <li><span><strong>Bill Wheaton 鈥?3</strong> 鈥?CEO at Symitri, Board Member, Entrepreneur, Angel Investor, and Advisor</span></li> </ul> <p><span>With <strong>over 80 students in attendance</strong>, the event fostered a vibrant atmosphere of innovation, competition, and inspiration. After an intense round of pitches, three startups emerged as winners:</span></p> Fri, 28 Feb 2025 12:00:00 +0000 musalan /news/announcements/goat-tank-2025-wpis-top-undergraduate-startups-take-stage WPI Student Entrepreneurs Win Prestigious Global Pitch Competition with Innovative Wheelchair Motorization Attachment /news/announcements/wpi-student-entrepreneurs-win-prestigious-global-pitch-competition-innovative-wheelchair <p>Technotonin Industries, a team of three young STEM students鈥?including two from WPI鈥攈as been crowned winner of this year's <a>Collegiate Entrepreneurs鈥?Organization (CEO) Global Pitch Competition</a> in Tampa, FL. The team, composed of WPI students Antonio Marzoratti and Ivan Zou, alongside Arav Tyagi, a student from Boston University, won the award November 2 with its groundbreaking technology PAWE (Portable Affordable Wheelchair Enhancer). The battery-powered motorization device is designed to attach to manual wheelchairs, enhancing mobility options for wheelchair users.&nbsp;</p> <p><strong>Read more in the&nbsp;</strong><a><em><span>WPI Journal</span></em></a><strong> about Marzoratti and Zou鈥檚 technology, their entrepreneurial journey, and the support they鈥檝e found on campus.</strong></p> <p>In September 2024, the team gained attention for its invention at <a>WPI鈥檚 Demo Day</a>, hosted by the university鈥檚<span>&nbsp;</span>i3 Lab (Ideate, Innovate, Incubate), where Marzoratti and Zou presented their technological solution and won the 1st Place Kalenian Award and entry into the CEO Global Pitch Competition.&nbsp;</p> <p>Technotonin Industries was part of the first cohort of the <a>Goat Innovators Summer Accelerator (GISA)</a>, WPI鈥檚 intensive program designed to support young entrepreneurs in developing and launching market-ready products. The team credits GISA and the support from the <a>WPI i3 Lab</a> for helping them transform their project into a business and playing a role in their success at pitch competitions. 鈥淲e knew nothing about pitching or how to build a business until we joined GISA,鈥?Zou says. 鈥淣ow we understand that we are building a business and not just a product.鈥?amp;nbsp;</p> <article> <div> <div> <img> <p> <img></p> </div> </div> <div> <p>Left to right: Zou, Marzoratti</p> </div> </article> <p>鈥淥ne of the biggest things is the connection with mentors provided through the i3 Lab,鈥?Marzoratti says. 鈥淲e鈥檙e getting advice from people who have done this over and over again.鈥?lt;/p> <p>The i3 Lab and GISA programs are pivotal elements of WPI鈥檚 mission to foster innovation, entrepreneurship, and real-world problem-solving among students.&nbsp;</p> <p><a>Rosanna Garcia</a>, Paul R. Beswick Professor of Innovation and Entrepreneurship in The Business School, praised the team鈥檚 journey and innovation. 鈥淭he dedication and resourcefulness that Antonio and Ivan have shown are truly inspiring,鈥?she says. 鈥淭echnotonin Industries is a great example of how WPI students are not only solving real-world problems but also developing a strong foundation in business principles.鈥?amp;nbsp;</p> <p><a>Ardian Preci</a>, director of the<span>&nbsp;</span>i3 Lab, expressed his enthusiasm and pride in the students鈥?accomplishments and the support WPI provides to budding entrepreneurs. 鈥?lt;span>Stories like this and students with this type of energy are what make it so exciting to be involved in entrepreneurship at WPI</span>,鈥?he says. 鈥淚f students have dreams of starting something, there is a place and an ecosystem at WPI that can help them realize these dreams.鈥?lt;/p> <p>&nbsp;</p> Thu, 07 Nov 2024 12:00:00 +0000 jcain /news/announcements/wpi-student-entrepreneurs-win-prestigious-global-pitch-competition-innovative-wheelchair Celebrating Innovation and Entrepreneurship at WPI: Highlights from the i3 Lab Inaugural Demo Day /news/announcements/celebrating-innovation-and-entrepreneurship-wpi-highlights-i3-lab-inaugural-demo-day <p><span>On September 18, 2024, WPI's i3 Lab hosted its inaugural Student Demo Day, with awards totaling nearly $50,000 made possible by the generous donations of the <strong>Kalenian Award</strong> setup by <strong>Aram Kalenian</strong> WPI class of 1933 and represented by his son <strong>Paul Kalenian</strong>, the<strong>&nbsp;Strage Innovation Award</strong> setup up by <strong>Henry Strage</strong> WPI class of 1954, and represented by his son <strong>Geoffrey Strage, </strong>WPI class of 1985,<strong>&nbsp;</strong> <strong>Auxilium</strong> <strong>Venture Studios</strong> and <strong>Cornerstone Bank</strong>. This event highlighted the passion, ingenuity, and entrepreneurial spirit of WPI students across three categories: Ideation, Innovation, and Incubation.</span><span>&nbsp;</span></p> <h5><span><strong>Standout Projects and Winners</strong></span><span>&nbsp;</span></h5> <p><span>In the <strong>Ideation Category</strong>, <strong>Samhitha Bodangi</strong> took home the $1,500 prize for </span><em><span>Pipsa</span></em><span>, an AI-driven model designed to predict organ rejection risks.</span><span>&nbsp;</span></p> <p><span>The <strong>Innovation Category was</strong> awarded to <strong>Jackie Edwards '25&nbsp;</strong> and her </span><em><span>SkyFall</span></em><span> team&nbsp;for their innovative solution to combat space debris.</span><span>&nbsp;</span></p> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p><span>In the <strong>Incubation Category</strong>, we saw impressive startups taking shape:</span><span>&nbsp;</span></p> <ul> <li><span><strong>3rd Place</strong>: <strong>Russell Hertel '27</strong> with </span><em><span>Quickest</span></em><span>, a tool to help landscaping companies streamline quoting through aerial mapping.</span><span>&nbsp;</span></li> <li><span><strong>2nd Place</strong>: <strong>Nick Gronda '24</strong> and </span><em><span>Croi</span></em><span>, an app to guide high schoolers through college financial planning.</span><span>&nbsp;</span></li> <li> <p><span><strong>1st Place Grand Prize: Antonio Marzoratti '27</strong> and <strong>Ivan Zou '27</strong> with </span><em><span>PAWE</span></em><span>, a device that turns standard wheelchairs into electric-powered mobility aids.</span><span>&nbsp;</span></p> <p><span>The event was attended by over 150 participants, including students, faculty, and members of Worcester鈥檚 entrepreneurial ecosystem. Partners like <strong>Mass Biotech Initiative</strong>, <strong>Mass Challenge</strong>, <strong>Mass Ventures</strong>, <strong>Rucker Investment, The Cornerstone Bank </strong>and <strong>Wire Group</strong> were present, showing the power of collaboration in supporting young innovators.</span><span>&nbsp;</span></p> </li> </ul> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p><span>We were honored to have </span><a><span><strong>President Grace Wang</strong></span></a><span> and </span><a><span><strong>Provost Andrew Sears</strong></span></a><span> in attendance, and special thanks go to </span><a><span><strong>Dr. Debora Jackson</strong></span></a><span>, Dean of WPI Business School, for her opening remarks on the critical role of entrepreneurship in education. </span><a><span><strong>Professor Rosanna Garcia</strong></span></a><span> the Beswick Endowed Chair of Innovation &amp; Entrepreneurship at WPI followed with an inspiring keynote, sharing her own entrepreneurial experiences and the rewards of overcoming the challenges of building a startup.</span><span>&nbsp;</span></p> <p><span>The evening鈥檚 energy was contagious, and it鈥檚 clear that WPI鈥檚 i3 Lab is fostering a culture of innovation and creativity. </span><a><span><strong>Ardian Preci</strong></span></a><span>, Director of the i3 Lab, perfectly summed it up: "This event shows the incredible interest from students in entrepreneurship. The i3 Lab is here to help turn those dreams into reality."</span><span>&nbsp;</span></p> <p><span>Congratulations to all the winners, and a huge thank you to the <strong>Beswick Family Endowment</strong> and <strong>Joe Klimek</strong> and our other sponsors for contributing to the startup journey of WPI students.&nbsp;</span><span>&nbsp;</span></p> Fri, 27 Sep 2024 12:00:00 +0000 musalan /news/announcements/celebrating-innovation-and-entrepreneurship-wpi-highlights-i3-lab-inaugural-demo-day Business Development Lab Celebrates the Goat Innovators Summer Accelerator /news/announcements/business-development-lab-celebrates-goat-innovators-summer-accelerator <p>The <a>WPI Business Development Lab</a> wrapped up the <a>Goat Innovators Summer Accelerator</a> on July 3 with a Grand Finale pitch competition where WPI student entrepreneurs showcased pitched their businesses to a panel of expert judges.</p> <p>The top three teams qualified for the <a>WPI-i鲁Lab Demo Day</a> on September 18: Elizabeth Fio with "Therapeutic Innovations," Nick Gronda with "Croi," and Antonio Marzoratti and Ivan Zou with "Technotonin Industries: PAWE."</p> <p>GISA is an intensive eight-week program dedicated to nurturing the entrepreneurial spirit of WPI鈥檚 student-led startups. Designed to provide early-stage startups with essential knowledge, tools, and resources, GISA was a transformative journey for all involved.</p> <p>Other students who participated in GISA were Peter Abosede, Samuel Yusuf, Shaun Noronha, Ronak Wani, and Enoch Zhao.</p> <p>鈥淭hroughout the program, participants thrived in a supportive environment and benefited from expert mentorship, practical workshops, and hands-on learning experiences,鈥?said <a>Ardian Preci</a>, director of the Business Development Lab. 鈥淲e saw startups develop innovative ideas and refine their business models, ensuring they are well-prepared to navigate the challenges of the startup world.鈥?amp;nbsp;<br><br><a>Rosanna Garcia</a>, Beswick Professor of Innovation and Entrepreneurship in The Business School, said mentors and judges played a role in guiding the students during the program.</p> <p>鈥淥ur mentors and judges, who witnessed students鈥?journeys, unanimously agreed that all had come such a long way,鈥?Garcia said.</p> Mon, 05 Aug 2024 12:00:00 +0000 musalan /news/announcements/business-development-lab-celebrates-goat-innovators-summer-accelerator Startup Mondays!- The Essential Guide to Building Your Startup's Data Room /news/announcements/startup-mondays-essential-guide-building-your-startups-data-room <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p>The<span> </span><a>WPI Business Development Lab</a><span> </span>role is to guide, and help startups navigate the complex journey from idea to market. As part of our ongoing commitment to empower entrepreneurs, our "Startup Monday" series is dedicated to unveiling key aspects of the startup ecosystem that founders need to master. This week, we're diving into the world of data rooms鈥攁 critical component in the fundraising process, especially when it comes to engaging with venture capitalists (VCs).</p> <p>Data rooms play a pivotal role in streamlining the due diligence process, enabling startups to present themselves in the best possible light. By organizing all your essential documents in one secure location, you not only facilitate a smoother review process for potential investors but also demonstrate the seriousness and professionalism of your venture. Let's explore how to build a data room that reflects the strength of your startup and what items it should contain.</p> <hr> <p><strong>Why You Need a Data Room?</strong></p> <p>Before we dive into the specifics, it's important to understand why a data room is essential for your startup. A data room:</p> <ul> <li><strong>Streamlines the Due Diligence Process</strong>: It allows investors to efficiently review your company's documents.</li> <li><strong>Demonstrates Professionalism</strong>: A well-organized data room shows that you're serious about your business and ready for investment.</li> <li><strong>Protects Sensitive Information</strong>: With controlled access, you can ensure that only authorized individuals view your confidential documents.</li> </ul> <hr> <p><strong>How to Build a Data Room?</strong></p> <p><strong>Choose the Right Platform</strong><br>Select a secure, reliable data room platform with features like document control, access levels, and activity tracking, there is plenty of data rooms available to startups.</p> <p><strong>Organize Your Documents</strong><br>Create a clear structure with folders and subfolders for categories such as Financial Information, Legal Documents, Product Information, and Company Structure.</p> <p><strong>Prepare Your Documents</strong><br>Make sure all documents are current, accurate, and professionally formatted. This includes financial statements, business plans, patents, and more.</p> <hr> <h3>Essential Items for Your Data Room</h3> <ol> <li><strong>Company Overview</strong> <ol> <li>Business plan, Mission, vision, and value proposition, Market analysis</li> </ol> </li> <li><strong>Financial Information</strong> <ol> <li>Historical financial statements (last 2-3 years), Financial projections and budgets ,Cap table detailing ownership structure.</li> </ol> </li> <li><strong>Legal Documents</strong> <ol> <li>Incorporation documents, Intellectual property rights (patents, trademarks), Contracts and agreements (with customers, suppliers, employees)</li> </ol> </li> <li><strong>Product and Technology</strong> <ol> <li>Product descriptions and roadmap, Details of technology stack, Information on R&amp;D activities</li> </ol> </li> <li><strong>Market and Sales</strong> <ol> <li>Market research and competitive analysis, Sales strategy and traction, Customer testimonials and case studies</li> </ol> </li> <li><strong>Team and Management</strong> <ol> <li>Bios of key team members, Organizational chart, Employee agreements and stock options</li> </ol> </li> <li><strong>Operational Processes</strong> <ol> <li>Internal processes and procedures, Details on supply chain management, Any certifications or awards</li> </ol> </li> </ol> <p><strong>Maintaining Your Data Room</strong></p> <p>Update your data room regularly to ensure it accurately reflects your business's current state.</p> <p>A data room is a powerful tool in your fundraising arsenal. It not only aids in due diligence but also signals to investors that your startup is credible, transparent, and ready for investment.</p> Thu, 28 Mar 2024 12:00:00 +0000 ewickman /news/announcements/startup-mondays-essential-guide-building-your-startups-data-room Startup Mondays: A Customer Discovery Guide /news/announcements/startup-mondays-customer-discovery-guide <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p>&nbsp;</p> <p>&nbsp;</p> <p>At the core of every successful startup is a deep understanding of its customers. The customer discovery phase is not just an initial step but a foundational element that can determine the trajectory of a startup. It's about stepping out of the building, metaphorically and sometimes literally, to engage with potential customers and learn directly from them. This article delves into the essentials of customer discovery, offering a roadmap for startups to navigate this enlightening process.</p> <p><strong>Understanding Customer Discovery:</strong><span><strong> </strong></span>Customer discovery is the process through which startups validate the existence of a problem worth solving and identify who experiences this problem most acutely. It鈥檚 an exploratory phase that requires an open mind and the willingness to be proven wrong, to ensure that you鈥檙e building a product or service that addresses real needs.</p> <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p><strong>Steps for Effective Customer Discovery:</strong></p> <ol> <li><strong>Formulate Your Hypotheses</strong>: Begin with clear hypotheses about who your customers are, the problems they face, and how your product or service can solve these issues. These are assumptions that will guide your discovery process.</li> <li><strong>Develop Your Interview Strategy</strong>: Create a plan for reaching out to potential customers. This includes deciding on the methods (e.g., in-person interviews, surveys, focus groups) and drafting a set of open-ended questions that encourage detailed responses.</li> <li><strong>Conduct Customer Interviews:</strong><span><strong> </strong></span>Engage with potential customers through interviews, striving to understand their needs, behaviors, and the context of their problems. The goal here is to listen more than you speak, allowing their insights to guide the conversation.</li> <li><strong>Iterate and Refine:</strong><span><strong> </strong></span>Use the insights gathered from these interviews to refine your hypotheses. This may lead to adjustments in your understanding of the customer, the problem, or even the solution you鈥檙e proposing.</li> <li><strong>Identify Patterns and Validate Problems:</strong><span><strong> </strong></span>As you speak with more potential customers, look for patterns in the feedback. These trends are crucial for validating the problems you aim to solve and understanding the commonalities among your target customers.</li> </ol> <hr> <p><strong>Best Practices for Customer Discovery:</strong></p> <ul> <li><strong>Embrace the Learning Mindset:</strong><span><strong> </strong></span>Approach customer discovery as a learning process, where being proven wrong is as valuable as being validated. It鈥檚 about gathering insights to guide your startup in the right direction.</li> <li><strong>Be Open and Curious:</strong><span><strong> </strong></span>Avoid leading questions that confirm your biases. Instead, foster open-ended conversations that allow customers to express their genuine thoughts and experiences.</li> <li><strong>Diversify Your Sources:</strong><span><strong> </strong></span>Speak with a wide range of potential customers to ensure a broad understanding of the problem space. This diversity can reveal different dimensions of the problem you鈥檙e solving.</li> <li><strong>Document Everything:</strong><span><strong> </strong></span>Keep detailed notes from each interview and meeting. These records are invaluable for identifying patterns and informing future decisions<strong>.</strong></li> </ul> <p>Customer discovery is an ongoing process that doesn鈥檛 end after the initial launch of a product or service. It鈥檚 a mindset that values continuous learning and adaptation based on customer feedback. By rigorously engaging in customer discovery, startups can avoid the costly mistake of building something nobody wants, instead creating solutions that genuinely meet customer needs and drive success.</p> Thu, 28 Mar 2024 12:00:00 +0000 ewickman /news/announcements/startup-mondays-customer-discovery-guide Dean's Discourse - March 2024 /news/announcements/deans-discourse-march-2024 <article> <div> <div> <img> <p> <img></p> </div> </div> </article> <p>&nbsp;</p> <p>I recently met with one of my international students. She was remarking with excitement that the Business School is led by women. Three of four of the administrators of the Business School, which includes the Dean and Department Head, are female. Our staff is predominantly female. Forty percent of the Business School faculty are female. Thus, women have a significant leadership role in the Business School and as we recognize Women鈥檚 History Month, this is a source of great pride in our school.&nbsp;</p> <p>Yet, this kind of change in the gender of leadership where women dominate has been fraught with challenges, especially when pay and job status is considered. Historically, as a field becomes more female dominated, the prestige associated with the field often decreases as does the pay. Known as occupational feminization, the theory demonstrates that occupations with a greater share of women pay less than occupations that are male dominated. Researchers attribute this discriminatory bias to two phenomena: devaluation and queuing.<span>[1]</span>Devaluation is a process of devaluing and lowering the rewards of positions associated with women. We have seen this bias in effect as previously male dominated positions became female dominated, such a teaching or nursing. As more women entered the profession, the rewards of the position decreased. Queuing is the process of excluding women from roles that have been historically dominated by men. This 鈥渟ticky floor鈥?obstacle faced by women is commonly seen when women are clustered at entry level positions, with fewer climbing to the senior leadership ranks. However, in those instances when women are able to ascend to the senior ranks, the glass cliff looms as an obstacle. Women are given significant leadership roles during times of crisis when the likelihood of failure is greatest. It creates the opportunity to scapegoat women when the organization fails.&nbsp;</p> <p>More recent research attempted to determine whether feminization effects still exist.<span>[2]</span> The short answer is yes. In their study, researchers recognized the growing numbers of women in highly paid occupations like STEM fields. Nevertheless, they concluded that there remains this persistent notion of predominantly male jobs and predominantly female jobs, with female jobs having lower wages. Additionally, women had materially higher part-time employment and shorter work weeks even when employed full-time.<span>[3]</span> The researchers posit that women may opt for so called female jobs because these roles offer needed flexibility in terms of parental and family sick leave, which suggests that wage gaps that exist due to feminization will not be resolved unless the inflexibilities of occupations are addressed.</p> <p>So, how is it that the Business School enjoys such female leadership? The answer to that question differs for each leader; however, there are common themes that can be highlighted. Each senior female leader in the Business School is a trailblazer in her own right. Whether she was the first or the only one in her field, our stories as women are ones of perseverance in the face of difficult odds. And because we persisted, we stand to encourage those who have come after us, paving the way and hopefully making the path easier for future generations. More than offering encouragement, we are using our capital to help other women. As former Secretary of State Madeline Albright noted, 鈥淭here is a special place in hell for women who don鈥檛 help other women.鈥?We have to be champions for each other and not hinderances.&nbsp;</p> <p>Specific to the pay inequities that we see in the feminization of roles, women are learning to be better negotiators by creating networks to help us navigate salary discussions. We must know our worth and be prepared to tell our story so that we can effectively advocate for ourselves. And when we do not know what a specific role is worth, leverage your network to get more information. For example, within Business Schools, the Association for the Advancement of Collegiate Schools of Business (AACSB) publishes salary schedules so that all can know the specific salary schedules by discipline.</p> <p>The biases associated with occupational feminization continue to exist and threaten to weigh us down. But we can overcome the challenges as we persist together. In the academy, our students, faculty, and staff are looking to us as women to lead. In industry, our colleagues and co-workers are looking to us as women to lead. Therefore, let us lead and pave the way for others to follow with the hope that through our collective efforts, we overcome the sting and stigma of gendered bias.&nbsp;</p> <p><span>Blessings,</span></p> <p><span>Dean Debora Jackson</span></p> <hr> <p><span>[1]</span> <span>Asaf Levanon, Paula England, Paul Allison, Occupational Feminization and Pay: Assessing Causal Dynamics Using 1950鈥?000 U.S. Census Data,&nbsp;</span><em><span>Social Forces</span></em><span>, Volume 88, Issue 2, December 2009, Pages 865鈥?91,&nbsp;</span><a><span>https://doi.org/10.1353/sof.0.0264</span></a><span>.</span></p> <p><span>[2]</span> <span>John T. Addison,&nbsp;et al. 鈥淭HE OCCUPATIONAL FEMINIZATION OF WAGES.鈥?</span><em><span>Industrial &amp; Labor Relations Review</span></em><span>, vol. 71, no. 1, 2018, pp. 208鈥?1,&nbsp;</span><a><span>https://doi.org/10.1177/0019793917708314</span></a><span>.&nbsp;</span></p> <p><span>[3]</span> Ibid, 236.</p> Thu, 21 Mar 2024 12:00:00 +0000 ewickman /news/announcements/deans-discourse-march-2024