Category Archives: MITEF

POWER PITCH

by John Jonelis

What happens when you give kids—kids gifted in math and science—a real chance to bust out with their God given talents and excel?

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  • What if you trust them to lay their greasy little hands on equipment normally available only at elite universities?
  • What if you allow them to direct their own time?
  • What if you challenge them to construct their own goals and learn by themselves how to accomplish them?
  • What if you dare them to build real startup businesses at such a tender age?
  • And what if you throw them into a competition against a panel of critical judges from the real private equity world?

What happens? Good things! Good things happen! They happen here at IMSA – the Illinois Mathematics and Science Academy. I’ll give you an intimate peek at the inner works of this educational powerhouse so you can see for yourself what makes this one of the biggest success stories in the country.

Showcase – Chandra Gangavarapu

This is a high school with a serious entrepreneurship program. Many of the ideas, business models, and pitches produced here outshine what we’re accustomed to in the business world. Mere students, you say? Some of their companies have gained funding and gone to market. And many of these same students intern at real-world startups throughout Chicago.

According to Britta McKenna, Chief Innovation Officer at IN2, “Kids love to have real-world problems to actually work at. This space provides that opportunity.”

Today’s event is the grueling POWER PITCH. Each team presents its company twice before separate panels of judges—the finalists pitch three times.

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What Do the Judges Say?

The judges are all smiles as they feed at the idea bar after the first round. Competitors get whittled down by secret ballot. I corner John Lump. He’s a colleague at Heartland Angels and a professor at DePaul where I’ve lectured at his invitation on risk profiles in private equity. See IN YOUR FACE RISK.

This a practical guy who’s knee-deep in the real world of business as VP of Federal Home Loan Bank of Chicago. I can count on him for an honest opinion. Here it is verbatim:

John Lump — Judge

“I love being a judge here. Second year I’ve been doing it. And it’s exciting and a lot of fun. The enthusiasm and energy of the kids is just fantastic.”

Swelly – Tyler Stock

“I saw several interesting businesses.

  • Swelly is a temporary insurance company.
  • Blabl is a company to help students with speech disabilities.
  • Rethink Numeracy is one that helps students with Downs Syndrome learn math—a more visual approach.

Some really cool ideas here.”

Blabl – Ayan Agarwal

“Obviously these entrepreneurs are quite young. There are some still in Jr. High. You’re talking kids that are 10, 12, 13 years old and already starting businesses! At Heartland Angels, we see entrepreneurs in their 20s up to their 50s and 60s. So these kids need much more mentoring. But I think you’re going to see some business opportunities here.”

Rethink Numeracy – Akshaya Raghavan

I touch base with Moises Goldman. As I’ve said before, he’s an old hand at private equity in Chicago and a VIP here at IMSA. I’ve known him a long time, and trust what he says. He’s a guy that projects humility, but receives deference and respect.

Moises Goldman – Judge

Today Moises is bursting with exuberance and he speaks with more passion than I’ve ever seen. What he says is as intuitive and emotional as it is insightful.

“Two of these kids blew me away. The company is called Fast Exit. One brother is 12 and the other is 15. Twelve and fifteen! I looked at the father and just jokingly said to him, what is it that you do? These kids are very, bright. Very, very bright—both of them.

[Moises is talking about the Orr brothers, Joshua and Maxwell. The older brother is in 8th grade at Avery Coonley. They are each pitching their own companies today.]

“What blew me away was that they’re two brothers, so I look at the father and I just wonder, what are his challenges as a dad with these two amazing kids? Because the social environment that they have—it must be an alternative universe to the one that I’m used to—that I grew up in.”

Jim Gerry with Joshua Orr of Fast Exit

[I suggest to Moises that their home life must be very nurturing.]

“Yes, somehow. But I’m amazed. That really blew me away—that blew me away. Last year, the older boy had a drone project that was a game you could adapt to Dave and Busters in that kind of environment.”

[I recall that drone project and ask if they’re both planning to attend IMSA.]

“The 12-year old—I don’t know. The 15-year old is applying for the coming year.”

OneNote Quiz – Maxwell Orr

Today there are 17 judges at Power Pitch – Patrick Bresnahan, Dane Christianson, Moises Goldman, Joe Jordan, Sanza Kazadi, Christine Krause, Maria Kuhn, John Lump, Josh Metnick, Nancy Munro, Kelly Page, Jacob Plumber, Lance Pressl, Julia Sanberger, Chris Stiegal, Tom Voigt, Joe Zlotniki. I agreed to be an alternate and fortunately don’t get that tap on the shoulder. I want to see the whole event.

Shop Cheetah – Catelyn Rounds, Julian Kroschke

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Entrepreneurship

IMSA’s entrepreneurship program is called TALENT—Total Applied Learning for Entrepreneurship—led by Dr. Carl Heine, Britta McKenna, and Jim Gerry. Jim is technically retired from the program but still volunteers his time. This is too much fun to stay away.

Heat2Heal – Sushil and Pranav Upadhyayula

At this place, students get real-life experience and opportunities to solve real-world problems and bring ideas to market. The goal is to instill the thinking patterns and mindset of an entrepreneur:

  • Develop a product
  • Form a team
  • Communicate ideas
  • Formulate a business plan
  • Protect intellectual property
  • Work your network
  • Raise funding
  • Start the business

Really? These are high school kids—some even younger. In a world of schools dominated by gangs, drugs, and fear, who would think them capable of such positive desires and accomplishments? Then I come across one of the quotes on the wall:

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IMSA Fast Facts

  • Teaching philosophy – The Socratic approach. Self-directed learning and problem-based learning.
  • 99.8% of IMSA students attend college.
  • 70.1% pursue majors in science or math.
  • 47% of faculty is PhD.
  • Alumni hail from every district in Illinois.
  • This is the school’s 30th year.

The IN2 Entrepreneurship Center at IMSA

I snag Dr Carl Heine, as he moves between presentations. He’s director of IMSA TALENT, their entrepreneurship program. I ask him if IMSA still has a presence at 1871, the huge incubator in downtown Chicago, or if all the activity is at the new IN2 facility.

Dr. Carl Heine, Director of IMSA TALENT

“IMSA is still a member of 1871. We take our students on Wednesdays to intern at companies. They’re embedded in startup teams. We can’t teach a class that’s better than that.”

“We do it every Wednesday. 1871 is just one location. We have students at the James Jordan Foundation downtown. Three of them are interning there right now, working on summer curriculum. There are students at a variety of other spots, too.”

[“This year’s Power Pitch is better than I’ve ever seen.”]

“POWER PITCH is an event that makes people feel good about the future. I hope you feel that way as a result of your involvement.

“The top three high school teams are advancing to the Next Launch regional competition in Indianapolis on May 17. If you would like to continue to work with your favorite team as a thought partner, a mentor or more, the purpose of IN2 and TALENT is to make that happen.”

Yoda

[I decide that Carl is the Yoda of IN2. I ask him, “What other events are coming up?”]

“This has been an academy for 30 years now, so we’d like to have a celebration. We’ve put it on March 30th this year, so there’s a 30 and a 30. As part of that, we’re doing the ribbon cutting for the IN2 space, and the new science labs that are part of a capital campaign that just wrapped up as well. And we’re celebrating the accomplishments of the institution over the last 30 years.”

This is just brilliant!

IMSA trains students not to fear any subject. I noticed THEORY OF ANALYSIS on the course syllabus. Normally, that’s offered only at the university level and it’s a course that’s hated and avoided by math majors nationwide. Never be intimidated by difficult subjects.

Award Ceremony

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17 Student Teams

IMSA’s President, Jose׳ M Torres, and the Stephanie Pace Marshall Endowment present the awards.

The top three high school teams—Blabl, Heat2Heal and Flameless—advance to the Next Launch Regional Competition in Indianapolis on May 17. The two winning middle school teams are Fast Exit and Shop Cheetah.

Blabl– Ayan Agarwal

 

Social Good Category Finalists & Winners

  • BlablAyan Agarwal – A mobile application that engages speech impaired children in conversation with an avatar – $1000 prize, Top 3 HS team
  • Heat2HealSushil Upadhyayula, Pranav Upadhyayula – A hands-free, self-powered Arthritis Wrap that converts body heat into electricity to provide targeted massaging & heat therapy for stiff joints – $500, Top 3 HS team
  • Rethink NumeracyAkshaya Raghavan – Teaching numeracy to children with Down Syndrome, leveraging their learning strengths.
  • Double-CheckRishi Modi – A protective biometric alternative to prevent ID theft.

Heat2Heal– Sushil Upadhyayula & Pranav Upadhyayula

Social entrepreneurs create self-sustaining businesses that promote social good. The STEM category is for-profit tech companies.

Fast Exit – Joshua Orr

STEM Category Finalists & Winners

  • FastExitJoshua Orr – A life-saving solution for managing exit signs – $1,000 prize, middle school team.
  • Shop CheetahCatelyn Rounds, Julian KroschkeA groundbreaking store navigation system that saves times and routes customers through the store$500 prize, middle school team.
  • FlamelessSivam Bhatt, Nikhil Madugula – Extinguishing cooking fires automatically with sound waves – Top 3 HS team.
  • SwellyAneesh Kudaravalli, Tyler Stock – A mobile app that allows users to get flexible insurance on personal items in an instant.

Shop Cheetah – Catelyn Rounds & Julian Kroschke

 

Other Competing Teams

  • AlertAshritha Karuturi, Priya Kumar – An app that efficiently connects homeowners to rescue workers, saving time and lives.
  • Be BettahZoe Mitchell – The food search engine and cookbook series that allows for bettah nutrition without changing your lifestyle.
  • Electrofood Alex Orlov – A microbial fuel cell that converts food waste to electricity.
  • OneNote QuizMax Orr – The personalized quiz generator.

Flameless – Sivam Bhatt & Nikhil Madugula

  • SafeSeatElliott Cleven – An app to alert parents if their child is left in a car unattended.
  • ShowcaseChandra Gangavarapu – A web app for musicians and dancers to gain recognition for their art.
  • Social BreadVainius Normantas – Using social media advertisements to raise funding and awareness for communities in need.
  • StrobeJayant Kumar, Zaid Kazmi – LED light strip supplements for fire and carbon monoxide alarms to assist the hearing impaired.
  • Verifact!Shreya Pattisapu – An effective and efficient way to couter fake news.

 

Read Part 1 – THE NAME IS IN2

Hope you enjoyed Part 2 – POWER PITCH

Coming soon – INQUIRY & INNOVATION

 

 

IN2 Contact Info

Address – 1500 Sullivan Rd. Aurora, IL 60506

Website – https://www.imsa.edu/

Carl Heine – heine@imsa.edu

Britta McKenna – bmckenna@imsa.edu

Tami Armstrong – tarmstrong@imsa.edu

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Photography by John Jonelis

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.
.Copyright © 2017 John Jonelis – All Rights Reserved
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Filed under 1871, angel, angel investor, Chicago Startup, Chicago Ventures, Education, Entrepreneur, Entrepreneurship, Events, IMSA, Innovation, Innovation and Culture, Invention, investor, MIT, MIT Enterprise Forum, MIT Enterprise Forum Chicago, MITEF, MITEF Chicago, Social Entrepreneur, Startup, startup company, vc, venture capital

THINK FAST

Combat Brain Training T

Brain Tech – Part 3

Adapted from the Journal of the MIT Enterprise Forum – Chicago

John Jonelis

“I must’ve walked down that alley 100 times, but for some reason something told me I shouldn’t go down there.” But the Marine dismisses the thought and carries on with his mission. Next, he gets blown up.

The soldier’s intuition tells him to avoid the alley but his observation and cognition do not. Something is happening that he cannot account for. How can we fix this picture?

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The Speaker

Armed forces, professional athletics, and even business include crucial bursts of heightened stress and times of rapid change. Such times call for laser focus, situational awareness, and fast mental and physical reactions. We must process real-time data quickly.

New discoveries enable us to rev-up the processing power of our brains. Such training—recently used in the military—is now available to athletes, trading professionals, and business people.

The program is called PACEtmProgressively Accelerated Cognitive Exertion. Over 2,500 individuals, from Marine Snipers, Rangers, Recon and Special Operations Forces, Pilots, Professional Athletes, Business People, and sufferers from Brain Trauma have had their lives positively changed by this training. John Kennedy developed the program and claims that 100% of those have reported significant improvement in performance. A hundred percent!

John Kennedy

Mr. Kennedy’s comments are given before an audience of entrepreneurs, investors, and PhDs assembled at the MIT Enterprise Forum, Chicago.

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The Challenge

Kennedy tells of his call-to-action in 2006 when his brother came back from Iraq and said, “Those IEDs are killing us.”

So he went to IED training. IED survivors accompanied him the whole time, and that motivated him in a powerful way. Meanwhile, the Marines were independently looking for a solution to the problem.

“The Marines had already mapped-out processes,” he says. “The entire kill chain—all the way from motivation to boom. And the prevent chain. Very smart people were doing this. But for every innovation they designed to protect against explosives, the enemy found a way around it. That approach was too slow.”

Up to that point, decision-making science was based on what happened in the past. In a rapidly changing environment, there may not be enough time to think through all that information.

Recalling the story of the Marine in the alley, Kennedy postulates: “If a guy in the field can think better, maybe he can avoid the explosion.”

Combat Brain Training

Speeding up the Brain

What are the components of mental performance? Certainly, there’s learning and experience. According to Kennedy, Marines go through tons of training and over 900 learning objectives. But what is this phenomenon we call intuition? “It may simply be the act of processing information faster,” he says. “Everybody loves a faster computer. How can we do this for the brain?”

Physicists say it’s impossible for a Major League Baseball player to hit a fastball. Think of it: The bat swings at almost 100 mph. The ball comes at the batter at almost 100 mph. There’s no way that consciously, he can see the ball leave the pitcher’s hand and swing the bat in time to hit it. Yet batters DO hit fastballs with startling regularity. Coaches tell the batters, ‘Don’t think,’ because cognitive thought is too slow. When the ball leaves the pitcher’s hand, the subconscious takes over.

According to Kennedy, neuroscientists call this a Zombie System. If you repeat an action over and over again, you get to the point where you react subconsciously. It becomes a habit. Subconscious processing is faster than conscious analysis. “Excellence is a habit,” he says. “Conscious thinking is too slow.”

So Kennedy set a goal: “To make the brain act on real-time data as quickly as on memory.”

The ultimate result is what he calls Cognitively Primed Anticipation. Instead of being overwhelmed, the brain becomes so fast that it’s waiting for information to come in. “We’re working more and more off the Zombie System in the subconscious,” he says. “Freeing cognitive functions to deal with change.”

The marine, going though that alley time after timenow his brain is ready to anticipate more information; he’s effectively using more real-time data. Maybe he notices there aren’t the usual kids in the road any more. The dogs are away. There’s more trash that could be hiding an IED. He’s not confused by his intuition any more—it’s become a cognitive tool for him.

More detail on Kennedy’s program coming in Part 4 of this series.

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GO TO PART 4 – THINK LIKE A ZOMBIE

GO TO PART 1 – WHAT MAKES INNOVATION

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Contacts

MITEF Chicagohttp://www.mitefchicago.org/T MITEF

John Kennedy – Combat Brain Training 

www.combatbraintraining.com

1022 Greenleaf, Evanston, IL 60202

847-791-19825  john@combatbraintraining.com

Photo credits – John Kennedy

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2014 John Jonelis – All Rights Reserved

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Filed under Big Corporations, big money, Chicago Ventures, Conflict, Consulting, Education, Entrepreneur, Entrepreneurship, Entrepreneurship and Politics, Events, MIT, MIT Enterprise Forum, MIT Enterprise Forum Chicago, MITEF, MITEF Chicago, new companies

CHECKBOXES FOR FUNDING

500,000 DOLLARS T- JAJ

Brain Tech – Part 2

Adapted from the Journal of the MIT Enterprise Forum – Chicago

John Jonelis

 Daniel DiLorenzo comes up with a concise list of what’s needed to succeed in fund raising.  He fills in all the blanks before approaching venture capital. He’s highly successful at gaining great gobs money.

“I was a super-optimist,” says Dr. Daniel DiLorenzo. I probably didn’t appreciate how hard it was to get my company funded. I now see it from the other side. A fund may see 2,000 business plans a year and invest in only four. When a VC gets a flood of 2,000 a year, it’s natural to quickly look for a reason to move on the next one. So you line everything up first. VCs are busy – they have a limited attention span. Once you get in, you gotta do a great job.”  money_stack_4

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The Speaker

Daniel DiLorenzo, MD, PhD, MBA, is the founder of NeuroVista and Barinetics. NeuroVista is a cutting-edge medical device company in Seattle that’s out to put a lid on Epilepsy. His comments are for an audience of entrepreneurs, investors, and PhDs assembled at the MIT Enterprise Forum, Chicago.

500,000 DOLLARS 3- JAJ

Checkboxes for Funding

DeLorenzo went at funding intentionally, with a rational process that included a detailed checklist:

  • IP: The IP was possible. It was a great idea. We filed early. We made real good claims. Checkbox filled.
  • Scientific Expertise: At the time, I was an intern. I had no credibility. I got a mentor who is one of the best in the world in that field. He was interested. Boom. Checkbox filled.
  • Engineering expertise: I found a guy who was really bright and designed a similar device for another company. Checkbox filled.
  • The Science: We had the vision but didn’t have people who had actually implanted a device, so we found them. Checkbox filled.
  • The Market: The Market was big. Checkbox filled.
  • Senior Management: We didn’t really have people who executed and ran a company yet, and that was one thing the VCs and I worked to round out.
  • The Pitch: We brought in the team to pitch—not some lone goofball with a laptop. When there’s something with many dimensions of expertise, it’s important to bring the team along. Whenever there’s a question – Boom, you answer it.

Has your company checked all of the boxes?

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GO TO PART 3 – THINK FAST

GO TO PART 1 – WHAT MAKES INNOVATION?

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Contacts

MITEF Chicago – http://www.mitefchicago.org/T MITEF

NeuroVista – http://www.neurovista.com/

Photo Credits – Parker Brothers, MITEF Chicago

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2014 John Jonelis – All Rights Reserved

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1 Comment

Filed under angel, angel capital, angel investor, big money, Chicago Venture Magazine, Chicago Ventures, Entrepreneur, Entrepreneurship, Innovation, investor, MIT, MIT Enterprise Forum, MIT Enterprise Forum Chicago, MITEF, MITEF Chicago, pitch, vc, venture capital

WHAT MAKES INNOVATION?

NeuroBionics T2

Brain Tech – Part 1

Adapted from the Journal of the MIT Enterprise Forum – Chicago

John Jonelis

A member of the audience asks the entrepreneur, “What made you go after private equity? Didn’t you think of partnering with a large manufacturer?”

The speaker’s answer is abrupt and final. “NEVER,” he says. “I wanted to see this through fruition.”

Dr. Daniel DiLorenzo is the founder of NeroVista, a cutting-edge medical device company in Seattle that’s out to put a lid on Epilepsy. His comments are for an audience of entrepreneurs, investors, and PhDs assembled at the MIT Enterprise Forum, Chicago. This guy gives insights that I find both lucid and striking—insights on innovation that clear away the cobwebs—that make you sit up straight and say, “Yes!”

“In med tech,” says DiLorenzo, “and this is crazy but it’s true—research is seen as an EXPENSE. Higher management of a public company is measured by quarterly performance. Money for research takes away from profit.”

That’s true, I’m thinking. But how do you explain all those drugs and devices in the pipeline? He goes on:

“So the way you invest in research without showing that loss is to BUY a company. You’re buying equity that has a value theoretically equal to what you paid for it. So there’s NO LOSS. It’s a crazy reason. It’s not the only reason.”

I have to admit, I never rubbed those two concepts together that way. And it makes sense, too.

NeuroBionics 2

“Another reason is high risk,” he says. “Most large organizations aren’t in business to do high risk/return investments. Then, in a large organization, you have the slowness of the big company.”

The analogy of the big ship avoiding the shallows and taking a long time to turn springs to mind, but then he hits on something more fundamental and meaningful:

“The type of person who likes to work at a big company is a little more risk-averse; they might not be quite as creative; they sure aren’t going to be working till two in the morning on some idea that they’re passionate about. They’re going to do the 9-5 and keep their kids in college. And that’s fine, but that’s what you get.

“When you have a startup, everybody’s on the line. Your capital in the bank goes down, down, down to zero and you’re out of a job. Let me tell you—all I did was work. I didn’t even go skiing once in Seattle, even though I should’ve. You’re focused like a laser.”

And just like that, I understand in depth not just that large companies don’t innovate well, but why most of the innovation comes from entrepreneurs.

“Small companies tend to innovate quicker than large companies, and large companies know it,” he says. “So for all those reasons, the whole ecosystem in the United States favors creative entrepreneurs coming up with ideas. To make that a reality they have to raise money.”

So he didn’t partner with a large manufacturer who would have squelched his project. He built it himself using private equity, counting on the buyout. Great strategy.

Next issue, we’ll take a look at the way Dr. DiLorenzo went about raising that money. Because this guy is highly successful at that game, too.

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GO TO PART 2 – CHECKLIST FOR FUNDING

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Contacts

NeuroVista – http://www.neurovista.com/

MITEF Chicago – http://www.mitefchicago.org/  T MITEF

Photo Credits – NeuroVista

This is a publication of the MIT Enterprise Forum, Chicago.

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link. This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2014 John Jonelis – All Rights Reserved

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Filed under angel, angel capital, Big Corporations, big money, Chicago Venture Magazine, Chicago Ventures, Entrepreneur, Entrepreneurship, Events, Innovation, Invention, investor, MIT, MIT Enterprise Forum, MIT Enterprise Forum Chicago, MITEF, MITEF Chicago, Social Entrepreneur, vc, venture capital

THE SECRET WORLD OF 3D PRINTING

IMG_9570 bJohn Jonelis

What happens when, instead of manufacturing a product with cheap labor overseas, you can select a design from the internet and download it the same way you purchase music and then create the product at the point of sale? Good-bye supply chain. Hello customization.

Sound like sci-fi to you? Well, you can do it right now. Some say it’s the next industrial revolution and the structural changes it promises are staggering.

  1. No factory
  2. No warehouse
  3. No shipping

That’s the future promised by 3D printing.

I’m at the MIT Enterprise Forum’s 3D Printing event, listening to Mike Vasquez PhD of 3D PRINTING REPORTS and Julie Friedman Steele of THE 3D PRINTER EXPERIENCE, both right here in Chicago. Julie’s the gal who’s writing the Encyclopaedia Britannica section on the subject.  And yes, you can go to her place and experience it for yourself.

Julie Friedman Steele portrait

Julie Friedman Steele

I’ll brief you on the whole thing, then show some videos for those who want to dig deeper.

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What’s Different About It?

The idea of printing rather than machining a bolt or a gear may seem counterintuitive. We’re accustomed to the SUBTRACTIVE process—starting with a block of material and whittling it down to the desired shape. 3D printing is ADDITIVE. Layer upon layer is added till the product is built up to its full shape. Almost no waste. Complexity is free. Users enjoy huge amounts of geometric freedom and can build designs once thought impossible.

3-Gears that Don't Work - Henry Segerman - YouTube

For example, here’s a drawing of three gears that can’t move in the real world. They bind each other.  The design is just as impossible as the slogan printed on the graphic.

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Triple Gear - Henry Segerman - YouTube

Triple Gear – Henry Segerman – YouTube

In contrast, the Triple Gear is printed in one piece and actually moves as a unit—something entirely impossible in the recent past. A video on this design is posted below.

Prototyping is where the industry got its start because it’s such a simple way to create complex one-of-a-kind machines. You design your product using software then print it like a letter off a word processor. But instead of paper and ink, 3D printers work with materials from plastics to ceramics to bronze, copper, gold, and stainless steel alloys, to human biological tissue.

Hospitals use the printers to create titanium hip replacements. Bio-printing is another exciting prospect—printing with human cells that the body won’t reject. One burn victim received a new ear copied and inverted from the other side. Cartilage can be built—dental implants are already routinely made.

There’s even a competition to print edible meat.

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Who Uses it Now?

NASA, GE, Boing, Ford, BMW, Caterpillar, Nike, and Reebok are all working with this technology.

IMG_9552

Burton Snowboard invented the winter alternative to skiing in the ‘70s. Now they constantly improve their products using 3D printing. Under the old design standard, prototypes cost tens of thousands of dollars and took months to complete. Using 3D printers, the process goes from months to days. They iterate prototypes the way they used to iterate sketches. They print out products and test them under actual conditions.

Early adopters are already bringing 3D printers into their homes. Even the Chicago Public Library boasts one. But according to Steele, if you want to operate one, you’d better be capable of building one. “This is a robot with a lot of moving parts that all need service…Unless you’re capable of building a printer, don’t own one…Low-end models melt plastic and that causes bad things in the air—similar to smoking plus hydrogen cyanide…Filtration and a lot more research is needed.” The message is clear: Don’t try this at home—this is for professionals. But don’t despair. Steele suggests that you bring your project to a service provider that keeps up their own printers and takes jobs on contract. Dozens of these exist in Illinois alone.

3D is huge for restoration. Jay Leno, prints hard-to-find parts for his antique cars.

Tiffany and other jewelers are already using it to reduce inventory and create product. But it also brings fear to the industry. It’s now possible to design and produce wedding rings to the match each happy couple’s whim. How many jewelers can afford the equipment?

A high-end laser sintering machine can print within tolerances of 100 microns and produce stronger parts than traditional manufacturing. Such machines cost from $250K to over $1M. Low-end machines can be had for under $5K but their utility is nowhere near the high-end equipment. There’s an active government initiative to create an invent space with less expensive machines.

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Who Knows the Technology?

According to Steele, “By and large, the general public knows nothing about it. You actually have to make something to understand the process. The purpose of THE 3D PRINTER EXPERIENCE is education. That’s how to get mass adoption. Education is the least profitable but the most important.”

Mike Vasquez PhD

Mike Vasquez PhD

During his talk, Dr. Vasquez shows a video of Markus Kayser, an artist who built his own 3D printer for a few thousand dollars. In the Egyptian desert, he used the sun and a huge Fresnel lens in place of a laser. For material, he took what he found—the plentiful and entirely free sand of the desert. Kayser’s video is posted below as well as his talk at TEDx.

Markus Kayser - Solar Sinter Explained - TEDx YouTube

Markus Kayser – Solar Sinter Explained – TEDx YouTube

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The Hackers

One of the great things about the MIT Enterprise Forum is the chance to meet extraordinary people. It turns out that a thriving community exists just for the love of creation—creation of the complex products only possible with 3D printers.  These are the hackers.  Hackers are the early adopters.

I talked at length with Keith Earl Weber II of DRAGON R&D. He uses 3D printers for research and his company takes in jobs. This could be a way to get your project off the ground.

3-D Printer in action - Barnacules Nerdgasm - YouTube

Barnacule Nerdgasm’s Printing Project

I came across a video that demonstrates the practical potential of this technology with great clarity. It’s from an individual that goes by the internet handle of Barnacules Nerdgasm, but don’t let that deter you. His video is posted below.

So, are you ready for a 3D world?  Check out The 3D Printer Experience and find out.

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Contacts

THE 3D PRINTER EXPERIENCE

Julie Friedman Steele on Wikipedia

Julie@The3dPrinterExperience.com

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3D PRINTING REPORTS 

Mike Vasquez PhD

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DRAGON R&D

Contact Keith Earl Weber II  – Kewiiq2@gmail.com

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MIT ENTERPRISE FORUM, CHICAGO

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Video

THE 3D PRINTER EXPERIENCE

Our speaker, Julie Friedman-Steele

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BARNACULES NERDGASM

A hacker prints a transmission.

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HENRY SEGERMAN

First example of a triple gear, as shown at tonight’s event.

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MARKUS KAYSER

Homemade printer using the sun and sand to create products, as shown at event.

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MARKUS KAYSER AT TEDx

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Photo credits – You Tube, The 3D Printer Experience, 3D Printing Reports, Julie Friedman Steele, Mike Vasquez PhD, Markus Kayser, Henry Segerman, Barnacules Nerdgasm,

Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

.Copyright © 2013 John Jonelis – All Rights Reserved

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IF WE BUILD IT, THEY WILL COME

BANANASMoises Goldman PhD – Resident Scientist

EDITOR’S NOTE–Everybody’s familiar with the phrase.  But is there a genuine application in industry for IF WE BUILD IT, THEY WILL COME?  Here’s one offered by a highly respected source:

Many in industry believe that logistics is now THE important field of study. Nothing could be further from the truth.

Logistics is simply a natural process that is part of any enterprise. It is inherent in any enterprise trying to minimize cost, maximize profits, or simply optimize its performance. (I am not talking about probabilistic or statistical studies.)

Moises Goldman 2

Let me clarify with an example: When Dole Foods or Chiquita Banana initially found that better fruit was grown in Latin America; they initially went down there, picked the fruit, and brought it back to the U.S. for processing.

Low Hanging FruitUltimately, common-sense logistics influenced their thinking and they moved their processing plants close to the source. This not only made economic sense but also being close to the fruit allowed them to be first in picking the best.

By moving industry to the source, it will remain close the best fruit it can pick. If we break ground close to the source, I am certain that: IF WE BUILD IT, THEY WILL COME.

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GO BACK TO PART 1

Contacts

This article was adapted from a paper for the Institute for Work and the Economy by Moises Goldman PhD. www.workandeconomy.org

Moises Goldman—Moises6@comcast.net

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money.

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Copyright © 2013 Moises Goldman – All Rights Reserved

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Filed under big money, chicago, Chicago Ventures, Economics, Entrepreneur, Entrepreneurship, Entrepreneurship and Politics, Financial Markets, Fiscal Policy, Information, Innovation, Innovation and Culture, MIT, MIT Enterprise Forum, MITEF, new companies

MIT WHITEBOARD CHALLENGE

Mark T Wayne BOTTOMJohn Jonelis

From special correspondent – Mark T Wayne

Five minutes, a marker, and a whiteboard. That’s all you get with this jaded crowd of critics, skeptics and swarming humanity.

You’ve come here to bare the greatest idea of your life and all the dreams that go with it. You competed for a chance at this grueling event against near a hundred early-stage teams. You’re one of only ten to make the finals.

Now they give the signal and you start like a runner off the blocks. And when your five minutes are up, it’s “NEXT!” No excuse will answer, sir! You are not permitted to utter another word so you sit down to bite your nails.

I can barely credit how fast ten contenders go by without a break in the action. .

Whiteboard Competitor

The Competition

This is the main event for the MIT Enterprise Forum, Chicago. No tricked out slide show or video allowed here. You must draw while you talk. The whiteboard is blank and indeed frightening to behold.

You swallow your fear and draw stick figures, perhaps, with a fat electronic pen. AnotherMITEF logo device projects your illegible scrawl onto a big video monitor so the WHOLE crowd can watch you make a fool of yourself. And use it you must—oh yes, you can’t ignore the whiteboard. It’s the only tool you get to express your idea, besides flapping your jaw.

I see you fidget and turn pale like some of the other folk as you try to explain your complex technology to a disgruntled audience of frowning faces while under the gun of the timer. Was that a nervous tick I just saw? Control yourself, sir!

Mark T WayneThis ain’t the typical pitch contest. You competed with scores of other teams on the value and marketability of your idea. That means all ten of you show up here tonight with something worthwhile. Now you get judged again on merit, but also on communication and use of the whiteboard.

Why do you do it? It’s not the $3,000 first prize—that only amounts to party money. No, the real goal is exposure. A chance to round up some angel capital from those sitting among this distinguished crowd and maybe push your idea to the next level. That and the simple satisfaction of coming out on top.

MITEF Chicago has been putting on this competition for some time. I consider it a premier event. To give you the flavor of it, here is a wonderful short video created in a previous season:

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This Year’s Winners

SIRAGO— Deniz Alpay—First Place

MIT White Board ChallengeUnfortunate patients are going straight from Stage 1 to Stage 4 cancer right in the hospital as a direct result of an innocuous and ubiquitous procedure called the biopsy. The problem is rampant in some cancers.

Gentlemen take note: If the oncologist suspects testicular cancer, no biopsy will be done. No sir! The surgeon removes the offending testicles forthwith! This is execrable sir! I wince to hear such words!

Breast cancer is yet another prevalent victim to this culprit. But whatever the cancer, it happens in three ways:

  • When removing the biopsy needle, infected tissue gets dragged away from the site.
  • Sometimes infection spreads through the hole left by the needle.
  • At other times, the infection enters the bloodstream directly because of the needle wound.

Ugh! Horrible stuff! Ought not to be allowed! Could it be that a patient stands a chance of living longer without any test whatsoever?

Mark T Wayne

Pay close attention because the numbers do not favor you. 12.5 million Americans have cancer right now—and that’s expected to rise dramatically. During the span of a lifetime we are talking about one in every two men—one in every three women. I look around the room and wonder—does any man here still have the stones to remedy this injustice?

The young lady draws a clear picture on the whiteboard and presents a solution. It is a hollow needle. An agent is pumped into the needle to plug the opening. Then the biopsy needle follows. When the biopsy is extracted, any unwanted tissue cannot pass the plug.

Mark T WayneI let out a lungful of air. Whew! Such a simple solution. And having seen it described so well, there is no doubt in my mind that it will turn the trick. Something so easily incorporated into existing procedures will likely be widely adopted. In fact, hospitals already exhibit interest.

This young lady is articulate with an excellent command of the white board. I believe she well deserves her First Place finish. I vote for this one myself.

Later while writing my notes, it occurs to me to research the name Sirago. I find some USS Siragointeresting imagery here and wonder if it is intentional. Sirago is the namesake of a 1946 WWII American attack submarine that destroyed two German submarines. This is a boat that survived two major surgeries. It was modernized in 1949 and again in 1962, after which it continued operations until 1972—a good long life for a weapon of war. I see it lancing through the waves in triumph.  I let you draw your own mental image.

Sirago Check 2

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COUP $ITY— David Hazan—Second Place (It’s pronounce it “koop city.”)

This is a free mobile game concept where players generate coupons that increase in value based on game play. You must play the game to earn the reward. That is significant!

I am known to play a game of Whist or Poker. I imagine myself, ordinarily reluctant to Mark T Waynefool with coupons, now proudly presenting my prized ticket to the cashier with a flourish and a knowing smile. The coupon displays right on my smartphone and I keep that contraption in the pocket of my white vest.

There can be no doubt that a market exists. The Mobile App industry has grown from zero in 2007 to 25 billion today and game-based advertising is popular.

David came with his own enthusiastic cheering section, which never hurts.

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TRIBAL SCIENCE—Mike Vasquez—Third Place

Dr Mike VasquezThis PhD is an engineer as well as a sports nut. He calls the device a Rip Chip. It answers questions such as: “How fast? How high? How many revolutions?”

Let’s say, just for the sake of argument, that you’re one of that peculiar brand of Tribal Sciencelunatic that lifts weights, hurdles down icy ski slopes, or performs tricks on a snowboard or skateboard. Now you can read precise statistics fed right to your smartphone. Why would you want to do that? It turns out there are a number of rational reasons:

  • You can improve your performance.
  • You can quantify what you did and compare it to other lunatics.
  • You can hold yourself accountable to another person—preferably your psychiatrist or surgeon.
  • You can directly compete with like-minded individuals in far-away places who also have Rip Chips installed on their devices of doom.

I have to admit, this may change the way athletes compete, play, share, and train. We are looking here at 50 million potential users. .

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EATERIA— Ola Ayeni—The Mark T Wayne Business Award

EateriaAll but one of the ten offerings have yet to go beyond the IDEA stage and form a REAL business. Therefore it is my duty to offer my own award. I hearby select Eateria, a company that helps restaurants induce people to come back and eat more food at their particular establishment. And they do it without weapons! Look at this ultra-professional video:

You will find six more videos posted on the Eateria website. They leave no doubt how Eateria Logothis offering works.

And they’re already generating press.

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GO TO – THE BEST CHALLENGE YET

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Notes & Links

Judges – This is an intimidating bunch if I ever saw one:

Jed AbernethyJed Abernethy

Big Idea Forum

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David BrownDavid Brown

Ungeretti & Harris LLP

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Moises GoldmanMoises Goldman PhD

M&J Acquisitions Moises6@comcast.net

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Steve SmithSteve Smith

Global Strategy Implementation

(He flew in from Amsterdam for the event.)

The Nameless RabbleThe Nameless Rabble

Yes, the audience votes too.

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Nancy MunroMODERATOR – Nancy Munro of KnowledgeShift pulls off this event with her usual aplomb. She’s the Chapter President of the MIT Enterprise Forum, Chicago. And it ain’t at all boring for this old man to watch her erase the whiteboard ten times, either.

LOCATION – This is taking place at a hotbed of innovation, TechNexus, the home of the Illionois Technology Forum. The law firm of Ungaretti & Harris is also a sponsor.  Quartet IdeaShare makes the slick infrared and ultrasound whiteboard display tool that’s helping with all this suffering tonight.

MIT Enterprise Forum

THE TOP TEN COMBATANTS in alphabetical order:

The USS Sirago (SS-485) attack submarine from Wikipedia.

Photography Courtesy of: MITEF Chicago, Steve Smith, Moises Goldman, David Brown, Jed Abernethy, Nancy Munro, Mike Vasquez, Eateria, Wikipedia.

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GO TO – THE BEST CHALLENGE YET

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Chicago Venture Magazine is a publication of Nathaniel Press www.ChicagoVentureMagazine.com Comments and re-posts in full or in part are welcomed and encouraged if accompanied by attribution and a web link . This is not investment advice. We do not guarantee accuracy. It’s not our fault if you lose money. .Copyright © 2013 John Jonelis – All Rights Reserved . .

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