04.08.19 Baylor Baugh Center Entrepreneurship UpdatesApril 8, 2019
Dear Friends and Partners,
I am writing this letter to update you on recent developments from the Baugh Center for Entrepreneurship & Free Enterprise and to alert you on upcoming events and opportunities.
The mission of the Baugh Center is to encourage and facilitate entrepreneurship outside the walls of the Baylor Business classrooms. God has blessed our team with generous friends and partners like you with a common heart to help foster and equip like-minded business leaders for worldwide service from within and outside the Baylor community according to the Christian tenets outlined in the Baylor University mission.
The 8th annual Baylor New Venture Competition was held this past February and was a great success! We offered more than $250,000 in cash and prizes and welcomed many new guests and attendees at the Saturday evening awards banquet and elevator pitch competition. Networking opportunities, such as the business showcase and Dr Pepper float break were popular. At these gatherings, guests had the opportunity to interact with the ten finalist teams, entrepreneurs, students and investors. Showcase booths included competing teams and collaborators such as Capitol Factory, Intuit, and the McLennan SBDC.
We would like to express our heartfelt appreciation to the 200 mentors, judges, sponsors, students, faculty, staff and other volunteers who are currently giving and serving to help catalyze successful student ventures. The student teams were impressive, as they hailed from prestigious universities such as the University of California-Santa Barbara, NYU and the University of Pennsylvania. Vita Inclinata Technologies of Seattle University, Feros Freight Innovations of University of Oregon and Contraire of Oklahoma State University earned the top three prizes.
The continued successes of past winners validates the influence and importance of the competition. Orai, the 2018 NVC second place winner, recently announced the close of a $2.3 million funding round with Comcast Ventures. This year's first place winner, Vita Inclinata Technologies, recently signed a $1m+ agreement with the US Army Aeromedical Research Laboratory.
Do you know a high school student who is an aspiring entrepreneur? The Baugh Center is now accepting nominations for the 2019 Baylor Young Entrepreneur Awards (YEA). This competitive awards program honors outstanding young entrepreneurs who are currently running their own businesses while in high school. The program allows hard-working students the opportunity to network with Baylor faculty, college entrepreneurs and alumni business leaders as they compete for cash prizes.
Past YEA winners have had continued success beyond the Baylor contest. The 2017 YEA first place winner and serial entrepreneur, Brennan Agranoff, surpassed $1 million in sales with his company HoopSwagg. Brennan has been featured in major media outlets around the world including CNN, Forbes, ABC, Daily Mail and US News & World Report. In 2018, Madi Smyser won second place with Madi's Munchies. Madi's snacks are available at several Austin area restaurants and shops, and she has been featured on the Rachael Ray Show and in the Austin Woman Magazine.
The Community Entrepreneurship Program (CEP) is a faith-based community entrepreneurship training program developed by Baylor University, hosted by local churches and facilitated by successful executives and entrepreneurs. The CEP team recently completed two pilot projects at Highland Baptist Church and First Baptist Church Woodway, both in Waco, Texas. Thirty-five participants received practical business help from teams of volunteers including Baylor faculty and staff, church members with strategic expertise and Baylor student volunteers. Church members facilitated weekly sessions that integrated Baylor Entrepreneurship content, classroom exercises and group discussions anchored around relevant business topics, while incorporating scripture and prayer in the context of church community. Baylor partnered with Intuit's QuickBooks and San Antonio-based LiftFund to provide venture-specific accounting tools and credit counseling to help prepare participants to secure potential funding. Several participants began the process of applying for business loans to expand their businesses because of the help they received from CEP.
The Baugh Center is excited to be able to serve churches by providing a program that each local congregation may use to practically serve business owners in the community.
Would you like to nominate a family-owned and operated business in your network for the Texas Family Business of the Year? This year will mark the 30th Anniversary of Baylor's Texas Family Business of the Year awards and recognition event. The awards banquet will be held November 8 at Baylor. The deadline for nominations this year is April 30, 2019. Email TxFamBiz@baylor.edu for more information.
Please join us in congratulating our nine outstanding graduating Baylor Angel Network senior analysts: Yasanka Chalsani, Austin MacLean, Matt Suski, Crane McGuckin, Meredith Corts, Caroline Krempa, Chris Moody, Evangelina Wiens and Thatcher Townsend. These remarkable students have worked tirelessly during the past year to operate, build, refine and improve the highly successful Baylor Angel Network. In late 2018, Baylor Entrepreneurship was awarded the coveted Excellence in Entrepreneurship Teaching and Pedagogical Innovation award from the Global Consortium of Entrepreneurship Centers to recognize the remarkable and transformational impact the BAN student analyst program has had on Baylor Business students and the Baylor community. The final BAN meeting of the academic year will be held at the Paul L Foster Campus for Business and Innovation on Friday, April 26.
Finally, if you would like to read a fun story about one of our junior BAN analysts and his entrepreneurial endeavors while at Baylor, enjoy reading through Chris Nunn's story here.
I appreciate you and would love to hear from you!
Dr. Kendall Artz
Director, Baugh Center for Entrepreneurship and Free Enterprise
Curtis Hankamer Chair in Entrepreneurship
Please email Roxie Collier at Roxie_A_Collier@Baylor.edu if you would like to be included on an email list to receive these updates via email.