Tag Archives: gifted kids

THIS AIN’T NO LEMONADE STAND

20160402_143634-JAJ TLoop Lonagan—Verbatim

What if y’could combat starvation by producin’ yer own meat ‘n potatoes—and do it right at da local food bank? Hey, I’m lookin’ at a real working prototype here. What about a solution to student debt? Or, maybe fer yer next birthday party, ever’body plays laser tag with drones? Or learns music real fast? Or gets a little help rememberin’ stuff. I can use summa that.

This ain’t no lemonade stand—I’m talkin’ serious business ventures here. One of ‘em launched her company this year and raised $250K in revenue already. Yeah, you heard right—a quarter million bucks. IMG_6636And she’s a high school sophomore! They’s ALL high school students! This is POWER PITCH, ‘n’ we’re at IMSA—the Illinois Math ‘n’ Science Academy. Real smart kids go here. I never seen nothin’ like it—all I remember about high school is gettin’ in trouble all da time.

I sure hope John’s cleanin’ up my language before he prints this stuff.

Editor’s Note—This is a verbatim transcript. It is the policy of this journal to do each writer justice. I might point out that Lonagan doesn’t give himself enough credit. He graduated the University of Chicago with a Masters in Finance.

20160402_143634-JAJ

We got almost 40 teams pitchin’ here, and they’s all real professional-like. One o’ da mentors flew in all the way from Silicon Valley ‘n’ spent days ‘n’ days coachin-up deeze kids. They musta worked their little tails off. DSC_0055Another thing I notice—seems like nowadays, kids wanna do somethin’ good fer da world, insteada da usual greed ‘n’ avarice.

They’s buildin’ a whole wing o’ da school—exclusive fer startups. And today’s winners get thousands in prize money.

Jonelis invited a couple o’ the judges ‘n’ I don’t know why he picked me but I’m glad he did. I mean, c’mon—how can a guy pass up somethin’ like this?

DSC_0052Sixteen of us is tryin’ t’ pick da best o’ da best. Alotta these judges is big-time professional investors I know personal-like, ‘n’ I hear ‘em sayin’ stuff like, “Deeze pitches here is better den downtown.” Sheesh, I feel like a kid in a candy store. I mean, yer lookin’ at da hope o’ tomorrow! And it happens every year!

Just take a glimpse at summa deeze startups. I put ‘em in alphabetic’ order I think. And lemme say thanks t’ Carl Heine who runs dis thing. And Jim Gerry who’s retired but can’t stay away. And Britta McKenna who’s da Chief Innovation Officer. Naturally they’s all PhDs.

20160402_142354-JAJ

Tech Ventures

  • Drone Wars—Having fun with flying laser robots—Max Orr
  • FlashFun—The Personalized Concierge in the palm of your hand—Palak Agarwal
  • Flock—A free and efficient social media platform for easily getting together with your friends—Ben Maher, Timur Javid, Michael Dow, Shrey Patel
  • HeadsUp—A projectable HUD purposed to prevent distracted driving-based accidents by keeping drivers’ eyes up and on the road—Sneha Pathuri, Ian Anderson, Andriy Sheptunov, Xinyu Guan
  • Icosadeck—Icosadeck reinvents the flashcard, making it multi-sided and adding other features to let students note more information, with more organization, and more efficiency—Gunwati Agrawal
  • NoteHub—A Website where students can buy and sell their school notes—Katreena Subramanian, Devan Grover
  • Peanut Butter—Peanut Butter motivates Millennial employees by offering a unique benefit that reduces their student debt—Aneesh Kudaravalli, Tyler StockIMG_6631
  • RemindMe—You shouldn’t have to remind yourself to remember – RemindMe is a smart phone app that uses proven techniques in memory research to help you retain information longer and retrieve it faster—Ahana Narayanan
  • Right Glow—Right Glow is a silicone bathmat that when stepped on glows red, providing the user with a light source that does not cause the temporary blinding sensation associated with turning on a light late at night—Luke Morrical
  • Snowflake—An Automatic, not manual, fridge inventory keeper and recipe recommender—Xinyu Guan, Andriy Sheptunov
  • Vestal—Social platform where you interact with other in Virtual Reality using just a smart phone and a viewer—Isabel Lee
  • XYZone—Improve your pitching accuracy with the only 3D Strike Zone—Hector Correa

Social Ventures

  • AquaFood—A permaculture company proposing aquaponics as a biotechnological solution to combat starvation and environmental problems in your own neighborhood and in the world—Erol IkizIMG_6659
  • Blabl—A mobile application that engages speech impaired children in conversation with a virtual pen-pal—Ayan Agarwal
  • HydroHero—Generate water for the people—George Moe
  • Pass Your Plate—Pass Your Plate helps businesses by taking their waste food and donating it to shelters in the area—Aneesh Kudaravalli, Tyler Stock, Shana Farhang
  • SelfHealth—SelfHealth is a system that puts you in control of your own medical information—Alex Orlov
  • SirenAlert—SirenAlert, is developing a Bluetooth app and signal monitoring hardware to help emergency vehicles avoid traffic collisions and improve response time by alerting even the most distracted drivers, saving lives—John Valin
  • SocialGood—SocialGood translates social media activity into charitable donations utilizing social media activity—Vainius NormantasIMG_6637
  • Thinkubator—Thinkubator is a co-curricular program that challenges students to think & solve pressing community issues, for graduation-required service hours—Sivam Bhatt and Nabeel Rashee
  • The Muzic Academy—It will only take a minuet to learn, but what you learn will last a lifetime—Abinaya Ramakrishnan

Other Ventures

  • AlertIsabella Ginnett, Ashritha Karuturi, Priya Kumar
  • Ask Me 101Rishi Modi, AJ Federici
  • CirclesJulian Litvak
  • FunkyPlantsAkshay Verma
  • InspireEsther Mathew, Amahlia SuDSC_0036
  • LinguLucy Liu and Rebecca Xun
  • LoopNicholas Rodriguez, Isaac Adorno
  • LynxAllAnkit Agarwal, Sweta Kotha
  • MusiWebMaya Wlodarczyk
  • OmNoteClaudia Zhu
  • PoweritForwardShriya Chennuru, Harshita Degala
  • SlipTieSushil Upadhyayula, Pranav Upadhyayula
  • Spatio StationMarc Peczka
  • SugarSmart!Aimee van den Berg, Kate Rabideau, Pranav Narayanan, Abhay Gupta
  • The CommunityMadison Mack

Also read – RAW TALENT

Contact IMSA’s Britta McKenna at bmckenna@imsa.edu

Photo credits – IMSA & 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 © 2016 John Jonelis – All Rights Reserved

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WHIZ KIDS

You Don't Want to Compete with this Kidby John Jonelis

You don’t want to compete with this kid.  Believe me.  Just watch his intensity as he pitches his business to some of the private equity luminaries in the city.  I’m a judge at this event and try not to show my feelings of awe as he answers all the tough questions in a pressure-cooker environment without so much as a flinch.  There’s an intimidating team behind him too.  They’re all in middle school.  Middle school!

These guys offer a new white-label web browser that’s secure from hackers at WiFi hotspots.  It’s up-and-running and they’ve got the moxie to ask $100K for 15% of their company!  These are potential recruits for IMSA – the vigorous live-in statewide high school for the best and the brightest.

You don't want to compete with this kid 2

And that kid over there—the one quietly sitting in the background?  The IT department at IMSA is afraid of that one.  “Some IMSA students try to hack the system,” says Carl Heine of TALENT, “but if this kid comes to the academy, we’ll have to keep him close.  He’s the real deal.”

SecuritumFive other teams like this one pitch today and they’re all wonderful.  I’ve seen IMSA students put adults to shame but hey—this is way over the top!  Once again, the TALENT program proves that children can outperform adults in one of the toughest games in town—a grueling pursuit that demands everything you can put out and then asks for more.

I ask you—can you imagine doing that when you were in 7th or 8th grade?  At that age, a pop quiz seemed like a big deal.  I certainly had no dream of running a business back then.  What we have here is a roomful of truly extraordinary individuals coached by wonderful teachers.  I’d like to hire them to create and build the next big company.  Problem is they’re still minors.

PitchThis event is part of an intensive one-week immersion camp held at 1871—a program geared to teach what an entrepreneur goes through by personal experience.  These kids pitch real companies only 3 days into the program.  Three days to form a group, put together a business plan and prepare the pitches we hear today.  Three days!  When I look at the quality of the output, it seems impossible.  But I’m here watching it happen.  Give credit to IMSA’s selection process.  Give credit to Carl Heine, Jim Gerry, and a brilliant TALENT organization with their finely crafted template.

It’s our job as judges to challenge these kids with real business questions.  And we do.  All of them respond well.  We’re asked to rate them on specific categories, and yes, TALENT provides us with an organized matrix to keep score.  Here’s their Pitch Rubric:Judges

  • Pain Point – Do they understand and describe it clearly? Yup.
  • Market Research – Is it clear and complete? Looks that way to me.
  • Competition – Have they identified and clearly expressed their competitive advantage? Yes sir.
  • Product – Do they have a compelling prototype? A prototype? After 3 days! Hey, these kids already have working products! This ain’t your science fair back home, Chumley!
  • Business Model – What’s the go-to-market strategy? What is the likelihood it will be profitable? Chances look pretty good from here.
  • Presentation – Does it convincingly cover all the bases? Yeah. That it does.
  • Questions – Do the answers make you want to invest?

Yes, yes, and yes!  The event ends and we meet everybody.  In a moment of irrational exuberance, I hand my card to a boy and say I’d like to see him pitch to my angel group.  Forgive me.  I sometimes forget myself.  First school, then the business world.  Gotta keep those two straight.  ♦

 

Photo credits IMSA.

To contact IMSA TALENT:  Britta McKenna, Chief Innovation Officer bmckenna@imsa.edu

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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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