2019 Chat&Chew : Entrepreneurial Spirit, the Defining Measure
November 14, 2019
By: James Perez
The Convergence of Innovation and Entrepreneurship (CIE) Institute , directed by Professor Jin Montclare, was invited to the Chat&Chew series. Hosted by the Women in Engineering Science Technology and Math (WEST-M), Chat&Chew is an attempt to outreach the Tandon community; highlighting any opportunities that may go unnoticed. With an array of food available and attendees from different backgrounds, this was the perfect networking environment. Nicole Johnson, Assistant Dean for opportunity programs, commenced with a warm welcome and opened up the stage for Diversity and Inclusion Fellow, Shubham Aggarwal to begin giving insight on all of the programs currently hosted by the CIE Institute.
[Above Nicole Johnson, Assistant Dean for opportunity programs]
Shubham began with opening remarks “95% of the CEO’s of startup companies only have a Bachelor’s degree and 5% had a Master’s degree or higher… My message to you is to take advantage of all available resources and that is exactly what I came to share with you today.” Undergraduate students in their sophomore and junior year are able to get a head start on their senior capstone project by electing to take The Pre-Capstone Innovation Course. A course that allows students to develop their entrepreneurial vision by hands on training and mentorship from professors in various fields. The next scheduled course offering is slated to begin in January 2020, but the applications are now close so stay tuned for the next session.
[Above Shubham Aggarwal, CIE Diversity Inclusion Fellow]
With this head start and developed project, students are encouraged to enter in the Capstone Competition, where they have the opportunity to present their projects in the attempts to win cash prizes in various categories. The competition typically runs in May. The Startup sprint bootcamps run in January and in July and is 1.5 week half program that provides the mentorship and preparation needed to launch a successful startup. The CIE Institute provides follow on funding from an NSF I-Corps Sites grant for those teams with a STEM-based venture.
During the presentation of the NSF -Corps Sites funded past participants, were invited to join the panel discussion for a Q&A session.
[Above: Priya Katyal of Brooklyn BioScience and Quinn Helen Robertson co-founder of Curtain Call]
Brooklyn BioScience is a startup company that is working on using an engineered protein to help detoxify pesticides from high value crops such as marijuana, tea and wine. An issue that is a big problem back in her home country of India, Priya Katyal, one of the co-founders stated that her and her team hit a dead end because they knew they had an innovative idea, but the how is what stumped them. Their idea was born from research developed in Professor Montlcare’s Lab and have long since been taking the steps to commercialize their findings. Priya stressed the importance of their innovation, “Everyday consumers are unknowingly ingesting crops contaminated with pesticides.” Back in 2017 they decided to partake in the first summer cohort and have skyrocketed since, raising over $350,000 in capital.
Curtain Call is a concert discovery platform that offers local concerts and events for at a discounted price without having to meet anyone face to face. Co-founder Quinn Robertson explained her frustrations when she was in her undergraduate year trying to get last minute tickets and would have to negotiate the price. “The worst part was having to meet with a stranger to finalize the transaction and that’s when the idea for our platform came to me.” Initially they attempted to begin their startup venture and participated in the J-Term 2019 sprint.
Why did you decide to participate in CIE and how were you able to juggle this responsibility with your other commitments?
Priya “We decided to participate because it seemed like the perfect incubator style accelerator program. We knew we had the right idea on our hands, but we needed help to really develop the idea into a way where it could be commercialized. Finding the right balance at first was difficult because working in a lab is very demanding and also, I serve as a mentor in the Montclare lab. But if you find something that you are passionate about, it doesn’t matter how tired you are you find a way; you make time. Set as many reminders for yourself as you need and with that consistency, the possibilities are endless. If you have one major task divide that into smaller tasks and before you know it everything will be complete.”
[Above Priya Katyal Co-Founder of Brooklyn BioScience]
What is something you wish you had known before participating in the Sprint and why?
Quinn: “Wow where do I start? I guess I would say I wish I understood then the importance of networking and getting out of your comfort zone. Sometimes when your company is experiencing growing pains, you can alleviate some of those burdens with connections built along the way. We are in the most important time of our lives, college, so take advantage of the college experience and really get out there and interact with some of the most brilliant people. That’s how I was able to meet my co-founder. I asked a professor at the time if I could sit in on his class as part of my customer discovery process. He allowed me to present my business model and after, one of his students approached me with interest. That’s where I met Carissa, my co-founder. Finding a partner is a marriage in a sense and that person should be easy to work with and share the same passion as you.”
[Above Quinn Robertson Co-Founder of Curtain Call]
What are some of your biggest takeaways from this experience?
Priya: “It has given me the presentation skills that I needed because it forced me out of my comfort zone. I’ve had to present so many times that now it has become second nature. This entire experience has been great because I get to go out and raise capital to continue on with building the company that I believe in so much. It’s the merging of business and science that I find fascinating while trying to help the world be a better place. Also mentoring is important because it’s good to have someone you can bounce ideas to and get guided in the right direction”
Do you have any advice for students interested in participating in the program?
Quinn: “I would advise if you are going to participate really go for it! Don’t self-doubt, go in open-minded, because what I can tell you now is that your idea is going to change. The mentors really do help you realize things that initially didn’t occur to you. In order to remain stable as a successful entrepreneur you are going to have to outsource many funding opportunities. NOW is the time to build those connections and get your VIP business model together 100% before you get out there to pitch.
The Makerspace Eventspace proved to be the perfect environment for everyone to come Chat&Chew while learning about the CIE Institute. With a variety of programs hosted throughout the year, from Priya and Quinn’s testimony, participating in the sprint is one of the most useful tools an entrepreneur can have in their arsenal. The question I have for you is, are you taking advantage of all the resources readily available to you?
For more information about our programs, visit http://microsites.engineering.nyu.edu/cie/