In the News
Wanting to create an event that would encourage and showcase the real-world problem-solving and creative solutions of the universities employees, the Institute for Innovation and Entrepreneurship created the university’s first “Staff Ideas Competition” this summer. Over 60 people participated in workshops and training sessions in June and July to develop and communicate their product and service ideas into a business competition-style pitch.
“Until this summer, how to get from concept to business had eluded me, I had no idea, really, how to go about it. With the frameworks and encouragement provided at the Staff Ideas Competition sessions, I feel like I am a lot closer to giving this idea an actual fair shot,” said Matthew Unkenholz, the Performance Hall Manager at the School of Arts, Humanities, and Technology, who has been working on a new concept he helped install at the Edith O’Donnell Arts & Technology Building Lecture Hall to integrate colored lighting with musical performances.
Over the summer, the Institute’s faculty provided lunchtime workshops and training sessions on topics such as using a Business Model Canvas, understanding what a Minimum Viable Product is, and the fundamentals of a pitch deck and presenting.
After spending the summer working on their plans and meeting with mentors, nine finalists were chosen to pitch their ideas in person. “We were very impressed with the quality and thought behind the ideas – we initially imagined this as just an idea or concept-level competition, but many of the participants put a lot of effort into maturing their ideas into practical solutions ready for a business discussion,” said Paul Nichols, Executive Director of the Institute.
The competition pitch day was August 19, and six were ultimately chosen as the winners by a panel of volunteer judges and “audience favorites” by the event attendees. The winners were:
Michael Lundie – Product Track, School of Behavioral and Brain Sciences, described his Neuro-insight platform to help companies improve connections and communication inside an organization and with their customers.
John (JD) Thomas – General Track, Office of Undergraduate Education, discussed his “Neighbors Only” online matchmaking system between customers and service providers to quickly connect people experiencing problems directly to those who can solve them.
Kim Warren – Retail Track, Venture Development Center, presented her idea of a “Spa-cation” venue providing full-service amenities for weddings and other large events.
Gloria Shenoy – Audience Favorite, Office of Policy, Accreditation, and Assessment, explained her concept of “EV-ees”, a retail chain catering to electric vehicle owners while they wait to have their vehicle charged.
Julie Weekly and Cerise Hawker – Audience Favorite, Provost’s Office, pitched their UTD improvement idea for campus groups to coordinate purchases of swag items to lower overall costs and increase the quality and relevance of gifts given to guests and volunteers of the university.
The Track winners received $1,000 each and the Audience Favorites won $500.
More than just a pitching competition, the process and interactions were an enlightening experience for the attendees and an opportunity to meet their colleagues. “It was a friendly atmosphere, and I really enjoyed seeing people from other departments and watching their ideas,” added Julie Weekly.
UTD Alumni Relations: Jackson Brougher PhD’22 completed his doctorate in May, but before finishing the degree he was already leading the research efforts of a new pharmacology startup he co-founded as the company’s chief science officer.
Dallas Observer: North Texas beer drinkers rejoice. The long wait is finally over. Peticolas, the beloved Dallas brewery, is making three of its beers available in stores throughout North Texas.
– Duyen Nguyen, BS’22 Accounting
– Chukwudi Ukonne, MBA’24 & MS’24 Innovation & Entrepreneurship
Duyen and I (Chukwudi) both participated in the inaugural cohort of the Blackstone LaunchPad Bridge Venture Fellowship (BVF). After a 3-week period, where we both received training, mentorship, and resources centered around the startup and venture capital industry, we met in person at the concluding event; a mixer that took place at Capital Factory in Austin.
At this event, we got to interact and network with fellow BVF participants from other UT System institutions, our mentors, and sundry industry professionals. It was great fun, and we returned to Dallas the following day to resume our regular academic schedules and put what we had learned into practice.
A few days ago, Duyen and I reconnected to talk about what we had been up to in the months since the Fellowship ended, and whether we had the opportunity to put what we had learned into practice. We spoke about her extremely busy schedule; how she balances her academic life with a promising professional career she just started with a multinational company.
“It’s been so busy,” she said. ‘I started my internship as an auditor a few weeks back and I’m also taking three summer classes, with assignments and exams upcoming. But everything’s working out great nonetheless.”
I told her about my marketing internship with the Institute for Innovation and Entrepreneurship, an opportunity I was able to leverage because of my participation in the Bridge Venture Fellowship.
“It’s been really tasking, but it’s been incredibly insightful so far. I’m learning a lot, working with excellent people, and being exposed to the world of innovation and entrepreneurship. Also, as a beneficiary of the programs offered by the IIE, I’m able to offer some insights on how the institute’s processes can be improved on what students expect from such programs.”
We also spoke about how we had each been applying our learnings from the BVF in our current roles. Duyen mentioned that though she hadn’t found an opportunity to directly apply what she had learned, the BVF was opening doors for her in different ways.
“Just having this Fellowship on your resume makes for a great talking point and has definitely given me access to a lot of professional opportunities. It also shows potential future employers that I’m motivated and driven, so it gives me a professional edge.
I’m also better able to network more effectively and strategically, a skill a learned as a Fellow.’ I still have plans to immerse myself in the world of VC and startups after I graduate in a few months, but the fellowship is already proving valuable to me in other ways.”
For me, one of the most impactful ideas behind the BVF was the diversity. Our cohort had such a diverse background of academic and professional experiences; from people in the medical sciences to engineering students and English majors. I saw people who took unconventional paths to entrepreneurship and was inspired to believe I could too.
About the Bridge Venture Fellowship
The Bridge Venture Fellowship is a 3-week paid learning opportunity for historically excluded students to learn about venture capital and network with peers and industry professionals. The virtual bootcamp is open to 20 students across the UT System schools and culminates in an in-person recruitment mixer in Austin with Texas-based venture capital firms.
The Bridge Venture Fellowship program supports students who have not previously had opportunities to learn about venture capital and encourages Black, Latinx, women, LGBTQ+ students, and those who support them to apply. BVF hosts inclusive, accessible programming that facilitates all individuals, including members of the disability community.