Cangialosi Business Innovation Comp WINNERS Announced
Who took away the cash prize?!
On Thursday, April 23rd, a full house of supporters turned out for the second annual Cangialosi Business Innovation Competition (CBIC). Coordinated by UMBC’s Alex. Brown Center for Entrepreneurship, and made possible by a generous gift from alumnus and serial entrepreneur Greg Cangialosi, the CBIC offers students an opportunity to experience the process of planning a start-up business.
As the members of the teams arrived, a blend of confidence and nervousness filled the air. Seven (7) teams were selected out of 28 applicants to share their business ideas with a panel of three judges; Ed Chalfin, Co-chair of the Baltimore Angels, Kelly Trumpbour, Founder of See Jane Invest, and Demian Costa, Partner of Plank Industries. Teams were comprised primarily of UMBC undergraduate and graduate students, and each was paired with a business mentor to help them further develop and polish their idea prior to the final competition.
Stakes were high with cash awards of $5,000 for 1st place, $2,000 for 2nd place and $1,000 for 3rd place as well as membership to Betamore, a Federal Hill based incubator and educational facility co-founded by Cangialosi.
First place went to Michael Gardner and Nathan Hefner for their development of NeighborhoodNet, a software as a service (SaaS) platform made for creating and managing community associations websites. Michael presented the pitch to the judges solo and did an amazing job. He talked about his prior entrepreneurial endeavors and how he and Nathan were able to develop NeighborhoodNet through their previous experiences. NeighborhoodNet's goal is to give communities an easy way to personalize their sites while also staying connected to their residents.
Second place went to Patrick Wheltle and Robert Oehrli for their company Baltimore Emergency Medical Technology. Kicking the night off with a stellar pitch, Patrick and Robert explained how their electronic triage tag could be used in mass casualty incidents to help save more lives. They explained that technology in this field, and specifically with triage tags, have not changed in 40 years. During mass casualty events patients are tagged with a hand written tag and sorted by priority that way. It is their hope that their electronic tag would allow paramedics to assess patents faster and save more lives faster.
Third place went to Annah Seo and her application called PiVot. This application would enable students and working professionals to independently assess abilities and interests before moving on to explore potential career paths. Her app would be specifically marketed towards the millennial generation when they search for jobs after graduation.
Participation in the competition is just the first phase of the business education the winning teams will experience. By far the most important part of the CBIC will be what comes next, the involvement in Betamore programming and events which will provide valuable connections to the Baltimore business community.
We would like to say congratulations to all participants who entered. We are so proud of the innovation and creativity happening at UMBC and are excited to see what’s next.
Pictured from left to right: Patrick Wheltle, Robert Oehrli, Greg Cangialosi, Michael Gardner, Annah Seo
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On Thursday, April 23rd, a full house of supporters turned out for the second annual Cangialosi Business Innovation Competition (CBIC). Coordinated by UMBC’s Alex. Brown Center for...
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Alex. Brown Center for Entrepreneurship
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The Alex. Brown Center for Entrepreneurship
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Sat, 25 Apr 2015 17:19:33 -0400
Sun, 26 Apr 2015 13:26:30 -0400
Single Carrot Theatre seeks female actors ages 35-50
Single Carrot Theatre seeks female actors between the ages of 35-50 for a role in its upcoming production of Blind from Here by Ensemble Member Alix Fenhagen.
Audition date: Monday, April 27th, 7:30pm-10:30pm
Please Bring to the audition: two contrasting monologues and 16 bars of a song. You will also be asked to read a monologue from the play cold.
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Single Carrot Theatre seeks female actors between the ages of 35-50 for a role in its upcoming production of Blind from Here by Ensemble Member Alix Fenhagen. Audition date: Monday, April...
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Thu, 23 Apr 2015 16:09:10 -0400
Teaching Assistants (Interns) for Young Actors Academy - Spotlighters
Spotlighters Theatre seeks Teaching Assistants (Interns) for Summer Young Actors Academy
About the Academy
Spotlighters Theatre's Young Actors Academy is a year round theatre education program offering training to youth in the Baltimore metro area through an academic and conservatory style approach. The program is designed and facilitated by instructors who work in K-12 schools, colleges/universities, and local, regional and LORT theatres. Our aim is to provide opportunities for serious young actors who want to have fun!
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Spotlighters Theatre seeks Teaching Assistants (Interns) for Summer Young Actors Academy About the Academy Spotlighters Theatre's Young Actors Academy is a year round theatre education...
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Thu, 23 Apr 2015 13:56:33 -0400
Lead Instructors Needed for Young Actors Academy - 2015
Spotlighters Theatre / Young Actors Academy
Seeks Lead Instructor for Classical Theatre summer intensive.
Program Dates: July 6 - Aug 7, 2015
Mon - Fri, 9a - 4p
Baltimore City (Bolton Hill / MICA neighborhood)
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Spotlighters Theatre / Young Actors Academy Seeks Lead Instructor for Classical Theatre summer intensive. Program Dates: July 6 - Aug 7, 2015 Mon - Fri, 9a - 4p Baltimore City...
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Thu, 23 Apr 2015 12:15:08 -0400
Cangialosi Business Innovation Competition IS TOMORROW!
Come & support UMBC student entrs, Library 7th floor 7-9pm
This is a reminder that the Cangialosi Business Innovation Competition is TOMORROW (4/23)! The event will begin at 7:00pm on the 7th floor of the AOK Library.
Watch seven student entrepreneurs compete on winning the grand prize.
What is the Cangialosi Business Innovation Competition (CBIC)?
CBIC is an opportunity for UMBC graduate and undergraduate students who aspire to fulfill entrepreneurial pursuits. Participants will experience the process of planning a startup business by submitting a competitive and realistic 3-5 page business plan and qualifiers will present their idea in a final competition. The CBIC is a next level competition designed to give aspiring entrepreneurs a real opportunity to experience every aspect of planning to launch a startup. The competition pairs finalists with business mentors from the community and gives them practice presenting their ideas to a panel of experts. It also provides “real world” experience and helpful feedback. In addition to mentorship from real world experts, the program is also designed to connect students to the local entrepreneurial ecosystem.
Prizes:
First Prize= $5,000
Second Prize = $2,000
Third Prize = $1,000
In addition to the seed funding winners also receive support from our sponsors including:
- Free legal services
- Accounting advice
- Membership at the award winning Betamore campus in Federal Hill
- Fundraising advice & pitch practice w/ members of the Baltimore Angels
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This is a reminder that the Cangialosi Business Innovation Competition is TOMORROW (4/23)! The event will begin at 7:00pm on the 7th floor of the AOK Library. Watch seven student entrepreneurs...
http://my.umbc.edu/groups/entrepreneurship/events/31341
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Alex. Brown Center for Entrepreneurship
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Wed, 22 Apr 2015 09:22:08 -0400
Pro Bono Small Business Boot Camp
Educating & empowering small business owners & entrepreneurs
Register to attend a one day event that will provide valuable legal resources and advice for small business owners and aspiring entrepreneurs.
The event is Saturday May 2, 2015 with many different sessions throughout the day. Click here to find out more information and to register!
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Register to attend a one day event that will provide valuable legal resources and advice for small business owners and aspiring entrepreneurs. The event is Saturday May 2, 2015 with many...
http://www.smallbizbootcamp.org/
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Wed, 22 Apr 2015 08:32:38 -0400
Greater Baltimore Cultural Alliance: UALP Fellowship Applications Open!
The Urban Arts Leadership Program (UALP) seeks to identify ten exceptional rising leaders of color who aspire to leadership positions at arts and cultural organizations in Maryland.
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The Urban Arts Leadership Program (UALP) seeks to identify ten exceptional rising leaders of color who aspire to leadership positions at arts and cultural organizations in Maryland.
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Tue, 21 Apr 2015 15:36:21 -0400
The IRC's KAL is a Pulitzer finalist
Kevin "KAL" Kallaugher was a finalist for the 2015 Pulitzer
Cartoonist Kevin "KAL" Kallaugher, IRC artist-in-residence was recognized as a 2015 Pulitzer finalist.
View a TEDTalk by KAL
here.
Determining how to structure your business is one of the most important legal decisions you'll have to make. Luckily for us we have Jason Pappas to help.
Wan to learn more about this topic? We have some good news!
Jason will be teaching a course on Entrepreneurial Finance (ENTR 330) this fall which correlated closely to this workshop’s content. You can find more information about the class here.
You can also find the unedited audio of the workshop below.
Below is a simple table that summarizes the differences between the five structures of business you can have. Overall the best way for an entrepreneur to set up their business is S-corporation or a LLC.
Sole proprietor is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. This means that if someone is to sue your company you are not protected. You also need to pay all taxes on profits that you earn.
A partnership is a legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships. There is also no liability protection in case the company is sued. However, there is pass through on taxes. In short pass through means that you will not be double taxed for any profits. The rate on a securitized asset is "passed-through" to investors once management fees and guarantee fees have been paid to the securitizing corporation.
A C-corporation refers to any corporation that is taxed separately from its owners. A C-corporation is distinguished from an S-corporation, which generally is not taxed separately. Entrepreneurs would not want to structure their business as a C- corporation because there is no pass through on taxes. A C- corporation is best used if you want to reinvest the money into the business and avoid being double taxed.
A limited liability companies (LLC) is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This structure also allows you to choose how you want to be taxed and if you can discriminate distribution between owners.
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Determining how to structure your business is one of the most important legal decisions you'll have to make. Luckily for us we have Jason Pappas to help. Wan to learn more about this topic?...
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Alex. Brown Center for Entrepreneurship
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Mon, 20 Apr 2015 22:41:11 -0400
Entrepreneurs Panel Discussion Recap
Four Entrepreneurs talk to UMBC students about what it takes
The entrepreneurial panel discussion this semester was full of diversity, both in industry and backgrounds.
If you missed this informative and exciting workshop be sure to listen to the unedited audio of the workshop available below.
Maneet Sarai, an alum of UMBC, is the CEO/Founder of SeeFuture, which is a company designed to provide job seekers an inside track to employment. Joseph Hyman, also an alum of UMBC, is the CEO and Founder, MoJoe Brewing Company. MoJoe is a technology company that specializes in mobile brewing solutions. Dr. Kimberly Brow is the founder and CEO of Amethyst Technologies, LLC (currently located at bwTech@UMBC Accelerator and Incubator). Amethyst personnel are changing the world by developing quality programs for clinical trials, global health, biodefense, and drug development in the U.S. and Africa. Finally, Patrick Rife, also an UMBC alum, is the founder of Pixilated, an event photo booth company.
Q: What prompted you to become an entrepreneur?
Paul- I had graduated with a degree in art history. I found a job and worked for a couple years but didn’t feel like it was what I should be doing. It wasn’t my long term goal. I started thinking about an idea for an event photo booth and after sharing ideas with friends and gaining confidence I decided to take the leap.
Kim- I was in grad school and got a job in a very small company where I was the second employee. I realized that I wanted to stay out of corporate America. I was in the right place at the right time.
Joseph- I have always knew I wanted to be an entrepreneur. When I was younger I would always see opportunities to make connections with people and some money on the side. I learned how to decide if certain ideas were viable and worthy of perusing. I wanted to make sure I had the resources to fully execute it.
Maneet- I found out that I am not a “9-5” guy. I wanted to be my own boss and make my own schedule.
Q: What are some surprises and lessons learned along the way?
Paul- I was surprised to find out that I am a good entrepreneur. This role has allowed me to be myself and create amazing things.
Kim- I am surprised every day. I have learned to never be surprised and to always be prepared and flexible.
Joseph- Working with a physical product instead of a service/software is very difficult and I was surprised how hard it was to secure funding and support for a product before it was built. I learned that it is important to build a team of people that have many different skills but that can work together.
Maneet- I was surprised about how wrong I usually am. I always think I’m right, when in reality it’s the exact opposite. I have also learned how to pivot and stand out of the crowd.
Q: What have you had to sacrifice to be an entrepreneur?
Paul- Nothing. I would be sacrificing my potential as a person if I wasn’t doing what I’m doing now.
Kim- Everything. You need to do what needs to be done and that means giving up time and pay sometimes.
Joseph- Time and money. You need to be committed to making your idea happen. You also give up your sanity since you think about your business 24/7
Maneet- Time and money.
Q: What are the basic traits that make entrepreneurs successful?
Paul- Tenacity, veraciousness, bringing a unique point of view to the market, and being confident in who you
Kim- Confidence and a commitment to not failing
Joseph- Creativity, perseverance, and leadership
Maneet- Able to accept rejection, don’t be afraid to ask for help, learn many things in many fields.
Q: What advice would you give to entrepreneurial students?
Paul- Figure out what your minimal viable product is and go for it! Just do it and do it now!
Kim- Be financially prepared
Joseph- Try your best to get away from self-doubt. Every good idea started from somewhere so research your idea and commit to it.
Maneet- You don’t have as much risk since you are younger, so calculate the costs and if you can do it, go for it!
Q: What is your management style?
Paul- I try to bring people who want! I want them to work, have fun, and present. I hire for culture not for skill
Kim- I have evolved from a micromanager to more of a builder of teams. It has been nice to go from very protective of my company to see it expand.
Joseph- I try to manage like a “bootstrap culture.” We are all young and poor at my company but we’re all bright!
Maneet- I am a very similar manager to Paul.
Q: Do you ever wake up wishing you were not an entrepreneur?
All four speakers said no they would not choose anything else.
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The entrepreneurial panel discussion this semester was full of diversity, both in industry and backgrounds. If you missed this informative and exciting workshop be sure to listen to the...
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Alex. Brown Center for Entrepreneurship
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