Baylor's Student Start-ups Are Funded by Members of Baylor Angel Network through BAN AV Investment Fund One, LLCApril 10, 2013
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Media contact: Frank Raczkiewicz , (254) 710-1964
WACO, Texas (April 10, 2013) - Four start-up companies owned by students in Baylor University's Accelerated Ventures Program have been funded by members of Baylor Angel Network through BAN AV Investment Fund One, LLC.
BAN is an investor network providing early stage capital to entrepreneurs with developed business plans. BAN has 40 members and has invested in more than 20 start-ups. It funds an average of five companies each year. BAN works closely with Baylor University's Hankamer School of Business and is advised by a board of advisors. Angels contribute a portion of their profits to the Hankamer School of Business and Baylor University.
The four companies - Adanote, Thread Collection, TourMuseo and GarciniaFit, each received $5,000 in seed money as part of BAN's commitment to fund the program for three years. BAN previously funded four student-run Accelerated Ventures Program businesses through the same fund.
"As Baylor Angel Network investors, it is with great pride and enthusiasm in which we invest, mentor and support entrepreneurs and start-ups in the Accelerated Ventures Program," said Pat Horner, BAN board member from McLean, Va., and Waco, Texas. "These are the best of the best in Baylor's top-rated department of entrepreneurship program, and we look forward to their success today and in the future."
Follow this link for more information on Accelerated Ventures Program at Baylor's Hankamer School of Business http://www.acceleratedventuresprogram.com
"BAN's support and funding through the BAN AV Fund will help these new businesses through their critical first year," said Kevin Castello, BAN executive director. "This type of early-stage support greatly increases the chances that they will flourish and grow."
Students enrolled in the two-semester Accelerated Ventures Program at the Hankamer School of Business experience the business start-up process firsthand by taking a company from its conceptualization to selling its products or services. The program includes eight student teams per year with three students per team. Students must launch their companies in 45 days. By the end of the first semester, companies are expected to be generating revenue. By the end of the second semester, they should be profitable.
"As an investor in the Accelerated Ventures Program at Baylor's Hankamer School of Business, I am very pleased we are making another investment in student owned and managed businesses," said investor Jim Foulks, BAN member from Waco, Texas. "This is another example of Baylor's commitment to introduce and involve business students in real-world business operations locally, nationally and internationally on a regular basis. This investment in the future will be of benefit to our community and the nation, and I am proud to be a part of it."
About The Companies
Thread Collection is an online collaboration consisting of up-and-coming fashion designers. It will be a gateway for the designers to gain more exposure for their line, as advertising and marketing will drive traffic to the site and increase the designers' sales.
"BAN is the very reason we even have the opportunity to participate in Accelerated Ventures. We are incredibly humbled by all BAN has done for our class. What an exciting time this is. We never would have dreamed of being given an opportunity such as this! We are so grateful."
-Abbey McNeill, a junior apparel merchandising major, business administration minor from Edmond, Okla.
"Accelerated Ventures has been a wonderful experience so far. In this program, I am learning a valuable skill-set that will prove to be the key to my success. Accelerated Ventures has been the most important class in my college career."
-Osgood Obodo, a senior finance and entrepreneurship major from Mesquite, Texas.
Adanote is an online collaborative platform for students to upload, study, and share their notes for free. The website is currently under development and is expected to launch within the next month.
"BAN and Accelerated Ventures has been an eye-opener for us. The Baylor Business School is one of the best in the nation, but the things we've learned in Accelerated Ventures have shown us what to actually expect in the real world. The BAN funding was essential and instrumental for getting us off the ground."
-Michael Heath, a senior from Round Rock, Texas, studying management and entrepreneurship.
"BAN funding not only gave us the funds we needed, but also introduced us to contacts we can use for future businesses ventures."
-Graham VanDusen, a junior from Longview, Texas, majoring in entrepreneurship and finance with a focus on real estate finance.
GarciniaFit is a health supplements company selling 100 percent pure garcinia cambogia. The HCA extract from garcinia cambogia supplement aids in weight loss by blocking fat and suppressing appetite.
"The Baylor AV program facilitated the start of my very own business."
-Joseph Hsiao, a junior at Baylor majoring in health science studies and focusing on pre-physical therapy.
"BAN has allowed me the opportunity to jump start my career. I am grateful to BAN as I believe that AV is the most educational and important class in my college experience."
-Alex Norell, a junior marketing and entrepreneurship double major from Wayzata, Minn.
TourMuseo replaces existing museum audio tours with a multi-media smartphone tour app. The app makes it free and easy for museums to create and profit from multi-media smartphone-based tours. Museum visitors can browse and purchase these tours within the TourMuseo app on smartphones using their existing billing accounts.
"The BAN advice, guidance, and funding allow students to learn from their experiences creating a real company that benefits the Baylor community. We have learned more this semester, and applied more of our knowledge than we could have imagined."
-Charles Stokes, a junior computer science major at Baylor.
ABOUT BAYLOR UNIVERSITY
Baylor University is a private Christian university and a nationally ranked research institution, characterized as having "high research activity" by the Carnegie Foundation for the Advancement of Teaching. The university provides a vibrant campus community for approximately 15,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating university in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 11 nationally recognized academic divisions. Baylor sponsors 19 varsity athletic teams and is a founding member of the Big 12 Conference.
ABOUT HANKAMER SCHOOL OF BUSINESS
Baylor University's Hankamer School of Business provides a rigorous academic experience, consisting of classroom and hands-on learning, guided by Christian commitment and a global perspective. Recognized nationally for several programs, including Entrepreneurship and Accounting, the school offers 24 undergraduate and 13 graduate areas of study. Visit www.baylor.edu/business and follow on Twitter at www.twitter.com/Baylor_Business.