Tag Archives: IMSA

TOP OF THE LIST

by Mark T Wayne

“Admirable!  Superlative!  Top of the list!  Gentlemen, you are indeed fortunate that I invited you here!”  I study the greedy faces of my two compatriots—the estimable Donatas Ludditis (good old Don) as well as the execrable Loop Lonagan and his stinking bull terrier, Clamps.  (Claims it’s a therapy dog.)  We are here as judges, along with a crowd of luminaries from Chicago’s startup community for the finals of the tenth annual POWER PITCH competition.  Today we will hear pitches from a host of exciting new companies.  Yes sir!  The enthusiasm is riveting.

Clamps

Don bows politely and speaks like a gentleman.  “Am glad I come,” he says in his charming Lithuanian accent.

Lonagan leers at me.  “Lemme at ‘em,” he says in his gutter lingo.

The IN2 Accelerator

I scan the ranks of judges and note representatives of the Business Plan Police lurking in the wings.  We want no trouble from them. But I must familiarize my guests with the program.  “This, gentlemen, is IN2—potentially the greatest startup accelerator of its kind in the world, with facilities available at a mere handful of elite universities”  I sweep my arm in an arc to indicate our magnificent surroundings. “Offices here and at the huge 1871 incubator.” 

Clamps releases one resounding bark—basso profundo—and lolls a broad tongue out over enormous teeth.  From a suitcoat pocket, Lonagan produces a hunk of meat.  He tosses it into the gaping maw—just as the teeth snap closed in hungry abandon.  This animal and its uncouth owner make up a last-minute replacement, foisted upon me by the editor.

On stage, Dr. Carl Heine announces the first competitor.  With a cane, I prod my guests and lower my voice to a whisper. “Don’t make me ashamed, you two derelicts.”  Don straightens his back and faces front with all due alacrity and respect.  Lonagan slouches like the slob he is.  The round begins:

IN2 Maker Space

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Flameless

Fifty percent of all residential fires are cooking related. This company uses sound waves—yes, sound waves—to extinguish fires automatically.  It is safe. It is neat.  It does not belch messy fluid or poisonous gas, as do other fire suppression methods.  We watch a video showing the system in action and the audience bustles with delight.   Amazing!

“Five minutes!”  The shout stops the speaker in mid-sentence.  That is the kind of strict discipline that warms my heart.  But even under the gun of limited time, their business plan is complete with financial projections, marketing plan, intellectual property, and go-to-market strategy.  Well coached, sir!  Very well coached!

Moises Goldman – Judge

Lonagan elbows Don and whispers:  “Deeze guys look kinda young, doncha think?”  The response to his juvenile utterance gets cut short when the next company is introduced:

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The Oil Magnet

This is a new technology for cleaning oil slicks.  They disburse magnetic nanoparticles into the spill, and then recover black gold with a magnetic boom.  A demonstration unit elicits gasps from the crowd—the team pulls off this whiz-bang presentation with thoroughness and aplomb.  I believe I’m sensing a rhythm to this event.

Demo

The foul Lonagan leans over to me and mutters with his rank breath and wet voice: “How old d’ya s’pose dem guys is?”

“Shush! You, sir, are making a mistake. Mark your judging sheet.” I thump the document with a finger. “The next company is already speaking.” I cannot abide ludicrous interruptions during business hours.

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Series

Ninety six billion dollars of crops are lost annually due to pests, standing water, and soil degradation.  This company uses drones and GPS to scan farm fields automatically, in both the visible and infrared spectrums.  They scrutinize images against a large computer database and detect damage down to the individual plant.  And they do it cheaply.  Their mentor is DuPont.

Don nudges my arm and leans close to my ear, speaking with hushed tones in his broken English:  “In old country, I not see anything like this.  Is just high school.  Am impressed!”

Judge

Apparently overhearing, Lonagan lets out a shout of desperation:   “Hey, yer sayin’ dis’s a high school?—a high school?” After this inane utterance, he buries his face in both hands and moans as if in deep pain.  “And youse guys dragged me outa bed!  On Saturday!”  His outburst elicits a perplexed expression from the speaker and rumblings of outrage from the judges and crowd.  Clamps leaps against his master and howls.  I am astonished—astonished I say—that the man only just noticed the fact that this is indeed a high school.  True, it does not look like one, but nobody can be that obtuse.

Judge

I am unable to restrain myself from delivering a rebuke, and do not spare any volume:  “Sir, your puerile reaction is entirely inappropriate to the situation!”  I fix my stare until the man squirms.

Clamps wags his tail as I continue:

“This, sir, is THE high school—IMSA—the Illinois Math and Science Academy—the statewide school for the highly gifted!  You may find other schools riddled with dropouts and illiterate stooges that quickly jettison whatever knowledge they accidentally absorb, but these students WANT to lead society! At this fine institution, 99.8% of the graduates go to college!  Many of the businesses you see here come to fruition and these students intern at actual startup companies around the city!” 

Mark T Wayne

As my gaze bores into his soul, the man appears badly stunned.  Dare I tell him that some of these teams are middle school students?  Those around us seem well satisfied with my lecture, but I cannot be certain that any real ideas penetrate Lonagan’s frontal lobe.  From under my shaggy brows, I pin my friend Don with a meaningful glance and tilt my head in the general direction of the foul perpetrator and his dog.

Don immediately comes to my rescue:  “Loop!  Is great place!  Not gangs here!  No drugs!  No fear!”

“Whatsa funna dat?”

Don keeps at him.  “Faculty 47% PhD!”

“Piled Higher ‘n’ Deeper.”

Clamps barks.

Dr. Heine spares us further histrionics by introducing the next pitch.

Judge

iCane

What grandpa is ever without his cane?  This company makes a smart cane with medical reminders, loud SOS alarm location tracking, geo fencing, pedometer, and Bluetooth.  It folds up and is easy to use.  My walking stick seems inadequate by comparison.  What an excellent idea!

Judges

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epilEXPERT

Fifty thousand people a year die from epileptic seizures. It’s a $27.8B market.  This company makes a device that detects the problem, alerts the caregiver’s phone, and keeps a trail of raw data.

Lonagan slurrs out a belligerent question:

“How y’gonna run a business ‘n’ finish yer education at da same time?”  The man has gone from judge to heckler and I find myself acutely embarrassed for him.  The team covered this point in its presentation.  Like most of these companies, it will license its technology—in my view, an elegant and fully reasonable solution.

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Rethink Numeracy

This is a new way to teach numbers to children with disabilities, and the team seems to have cracked the problem.  They’re already working with neuropsychology experts and marketing their methods through a reputable center for the care of children with Downs Syndrome.

Finals

Lonagan scratches his monstrous dog behind the ears and puts another question: “How y’gonna scale a thing like dat?” 

This slurred interrogatory barely precedes the flashing of a badge. “Business Plan Police.  Please come along quietly, sir.”  Lonagan immediately balls a fist and clouts the officer to the floor.

Clamps licks the stricken man’s face. The officer regains consciousness and blows his whistle.

From out of the crowd, three musclebound agents pile onto Lonagan and hustle him out of the room like a roll of carpet.  I catch a glimpse of his feet kicking and hear him spew a few choice and utterly foul invectives as he disappears out the door.  Clamps bounds after them, tail wagging vigorously.

The crowd hushes a moment, then shrugs off the incident and Don lets out a sigh.  “Is bad.  I wonder do we ever see Loop again.” 

I also feel somewhat perplexed about such a questionable privilege.  In any given year, the Business Plan Police arrest a number of startups—never to be seen again—but I have never known them to abduct a judge at a pitch competition.  I can now relax.  It makes me most grateful.

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Finals

Three high school teams will advance to the regionals.  (Lower grades compete and are rewarded, but they cannot advance.)  Last year, IMSA won the top three slots at the regional competition.  Here are the results of today’s event:

Jim Gerry – IMSA

1st Place –  $1500 – award sponsor: Charles Whittaker

  • OIL MAGNET – Marisa Patel-O’Conner, Eden Gorevoy & Sol Hwangbo (Juniors at IMSA)
  • iCANE – Umika Arora (7th grade at St. Catherine Laboure School)

2nd Place – $1000 – award sponsor: Deliciousness

  • FLAMELESS – Sivam Bhatt & Nikhil Madugula (Seniors at IMSA)
  • RETHINK NUMERACY – Akshaya Raghavan (Junior at IMSA)

3rd Place – $500 – Award sponsor: After the Peanut

  • epilEXPERT – Monika Narain (8th grade at Mead Jr High) & Jayant Kumar (7th grade at Grainger Middle School)

Alternate

  • SERIES – Andre Wiedenmann & Tommy Neidlein

Britta McKenna – IMSA

Other Companies (alphabetical)

  • 21 C2 – Maryam Mufti, Erika Ezife
  • ACTIV8 – Anusha Trivedi
  • AMENITY – Sonia Edassery, Milica Barac
  • COMMUTE – Natalie Sanchez
  • BRIDGE TUTORING – Armando Pizano, David Gonzalez, Cain Yepez & Stefany Boyas
  • ENABLE EQUITY – Rachel Mason, Shikha

Adhikari

  • GOGO RIDERS – Rishi Modi
  • IDEAL SUGAR – Maya Wlodarczyk
  • IDROGENY TECHNOLOGY – Sricharan Sanakkayala
  • IMMERSION – Neil John, Samuel Anozie, Samantha Alexis Lehman
  • INSPIRULINA – Meghan Hendrix, Kanika Leang, Harsha Nalam
  • INSTA-VILLAGE – Catelyn Rounds & Julian Kroschke
  • INTELLIFIT – Steven Andreev
  • INTELLI-TEST – Akash Basavaraju
  • PHOCUS – Matthew Selvaraj, Louise Lima, Vaishnavi Vanamala, Eric Errampalli, Arthur Lu
  • POCKET PASS – Ajay Jayaraman
  • PROMETHEA – Ayush Bhalavat, Ian Son
  • SAVE OUR STARVING SOULS – Shreya Parepally, Sofie Heidrich
  • SCHOOLBOARD – Samuel Anozie, Aryan Walia, Mary Ashley Tenedor
  • SHINDIG – Nikita Elkin
  • TAKE HOME – Aliah Shaira De Guzman, Michelle Sia, Aryan Walia
  • TRANSSPEED – Atharva Gawde
  • THINKING CAP – Nishant Bhamidipati, Ryan Talusan, Micah Casey-Fusco
  • VIRTUPEACE – Michael McKelvie, Max Knutson
  • UNITED 5 AEROSPACE – Levi Raskin, Duncan Osmund, Wyatt Funkhouser, Ethan Tse

Dr. Carl Heine – IMSA

IMSA IN2 Contact Info

Address – 1500 Sullivan Rd. Aurora, IL 60506

Website – https://www.imsa.edu/

Dr. Carl Heine – heine@imsa.edu

Britta McKenna – bmckenna@imsa.edu

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Photography – John Jonelis

GO TO PREVIOUS SERIES ON THIS TOPIC

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. Please perform your own due diligence. It’s not our fault if you lose money..Copyright © 2018 John Jonelis – All Rights Reserved
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Filed under 1871, angel, angel capital, angel investor, App, Characters, Chicago Startup, Donatas Ludditis, Education, Entrepreneur, Entrepreneurship, Events, IMSA, Innovation, investor, loop lonagan, Mark T Wayne, Mobile App, new companies, Startup

INQUIRY AND INNOVATION

by John Jonelis

What happens when you invite the community into your high school and send your high school students into the community?

Amazing things! You create a THIRD SPACE in people’s lives.

[Britta McKenna is the Chief Innovation Officer at IMSA.]

Britta – “You have your home and you have your work and you have third spaces in your life where you feel comfortable and find a community. Robert Putnam believed in third spaces. He has a book called Bowling Alone 1. It used to be that bowling leagues were that third space. People at the bar. Cheers. We want IN2 to be that third space in people’s lives.”

“Look at the ceiling. Look at the lights. Do you see the pattern?

IN2 – Symbolism in Architecture

It’s that intersection of outside and inside. Community coming together to make this a real learning laboratory experience. We want to come in and work on real-world problems and opportunities.

“People can bring problems and opportunities to us and say, let’s figure out how we can work together. Like the State of Illinois with the hackathon we just did—finding solutions to childhood lead poisoning.

“Think about all the things kids are doing that are not helping. Here’s a great place. I hope IN2 can be a third space in people’s lives.”

[The grandness of the idea and the imaginative scope hit home, but ask Britta how IN2 will implement it.]

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Innovation

“We can’t stand still. Education—if it’s doing the same thing over and over and over—is not moving ahead—it’s falling behind.

“IN2 is the intersection of what we do at IMSA and the community. We’re partnering with Invest Aurora, the Woman’s Business Development Center, the Fox Valley Entrepreneurship Center—they are all resources to help what we’re doing here grow and scale.

Business Mentor

[Britta anticipates my next question and gets even more specific.]

“We’ve opened up a cohort of LINKubators 2 These are actual startup companies.  We have three working in the space as a pilot.  Our students intern with them and our network can help them grow.  Our MENTORS, our IDEA BARISTAS, our SUBJECT MATTER EXPERTS can all help them grow. 

“Next fall we hope to have ten LINKubator startups working in the IN2 space during the day when the kids are in class. We’re trying to see what we’re good at and get a rhythm to the space.

“So whether it’s somebody in the community with an idea or a problem—whether it’s students that want to accomplish something new—whether it’s mentors from the community coming here to help the next generation of learners—whether it’s subject matter experts helping a non-profit grow—we want IN2 to inspire students and community to go on and be entrepreneurs and develop their ideas.

“Our goal at IN2 is to blend in with IMSA and be that resource for students and community beyond the classroom. That’s what this is all about.”

Student Entrepreneur

Inquiry

“I think one of our signature programs is our STUDENT INQUIRY AND RESEARCH program or SIR. That really distinguishes us because we don’t have class on ‘I-DAYS.’ Those are inquiry days—that happens most every Wednesday. Traditional class shuts down. We have class Monday, Tuesday, Thursday, and Friday.

“‘I-DAYS are meant for independent exploration—inquiry or research. On ‘I-DAYS, student go down to 1871 and other locations to intern for startups. Now, with the new IN2 facility, our students can work with entrepreneurs right here as well. Either way, through the SIR program, they’re doing research with mentors and business teams.”

Sue Fricano & Tami Armstrong

[I’m joined by Sue Fricano—IN2 site coordinator, Tami Armstrong—Director of Public Affairs]

Sue – “MONDAY NIGHT LIVE is an event put on by Dr. Carl Heine each week. He brings in speakers and he develops programs for entrepreneurs.

Carl Heine

“He puts external students on his TALENT board—entrepreneurial students coming in to learn the different stages of building a business and different skills used in building businesses.”

Tami – “A lot of the students here are part of that as well as members of the community that come to learn more about entrepreneurship.”

Sue – “At IN2 we are trying to give them the expertise to go out and make the initial steps of developing.”

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[Betty Hart is the Innovation Center Program Manager.]

Betty – “We have girls in the STEM program, which is a mentoring peer-to-peer program for girls in 6th to 12th grade.  We have events such as IMSA DAY OF CYBER, which focuses on encouraging students to seek cyber security careers.” 

Betty Hart

Betty – “We have TEAM STEM CAFE, which is a network of local high school students who host quarterly events focused on STEM related topics. And we have THINK CAFE, which is a community initiative that invites organizations to come in and pitch a problem or an idea.”

Britta – “Our charges really are this: The first is to be a STEM teaching/learning laboratory for our best and brightest students across the state. Then we have the FUSION programs.3 These are after-school programs at schools, grade 4-8, all around the state. And we also have the charge of educating the educators. We bring the teachers in and give them professional development, which helps them in science and math.”

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Bring Back Socrates

[I pose a thorny question:  Why teach entrepreneurship at such an early age, rather than prepare the students for college or jobs?]

Tami – “What we’re doing is launching the students so when they leave here, they’re prepared. There’s a big demand for ideas and innovation. Innovation is valuable, and very coveted. We’re supplying that to the workforce.

“We’re also launching research. How can students advance the human condition and solve the world’s grandest challenges?

“That’s what comes from IN2—the ability to make very difficult innovations. When you can harness them, bring them to a place like this, and connect the students with business and industry, dream and idea become reality.”

[Suddenly I get it. I asked the wrong question and now realize the goal is really quite straightforward—to encourage students to think for themselves—to let them discover how to learn. IMSA does it the same way it was done almost 2,500 years ago—self-directed inquiry and innovation—the Socratic Method.]

Student Entrepreneur

Possibilities

Britta – “People think we’re just this gifted school for 650 sophomores, juniors, and seniors from around the state, but we’re not. And people think we’re a private school and we’re not—we’re public. We don’t want to be the best-kept secret in Illinois.”

“And we have a student team called IMSA ELEMENT that teaches the lean startup methodology. Build—measure—learn. Students developed a whole curriculum and teach it to each other. We’re entertaining possibilities.”

  • “We need to be open to ideas, be able to move quickly, and say YES.”
  • “And have FAST FAILS.”
  • “And move toward SUCCESS and ITERATE.”

“We’re not afraid to do that here. In a world where you’re dealing with high-caliber students who don’t fail often, failure is a difficult concept. But once they get the hang of it, they actually become quite good at fast fails.”

Entrepreneur with a solution

The 17%

Britta – “We’re not looking for the vast majority to really understand this space, because we can’t hold everybody. But about 17% in the world are innovators. That’s who we’re looking for—that 17%. Once we get a few of those, they bring their networks. Those are the early adopters, innovators, and they see things much earlier.”

Those are the people IN2 was built to serve.

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This is the final article in this series.

Go to Part 1 – THE NAME IS IN2

Go to Part 2 – POWER PITCH

 Go to next series – TOP OF THE LIST

 

References

  1. BOWLING ALONE – Robert Putnam
  2. IN2 Launches LINKubator for Fox Valley Startups
  3. IMSA FUSION

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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

 

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 capital, angel investor, App, Chicago Startup, Chicago Ventures, Education, Entrepreneur, Entrepreneurship, Impact Investing, IMSA, Innovation, Innovation and Culture, Invention, investor, Mobile App, new companies, Public Schools, Social Entrepreneur, Social Media, Software, Startup, startup company, Venture

THE NAME IS IN2

by John Jonelis

What happens when you give kids—highly gifted in math and science—a state-of-the-art facility entirely dedicated to entrepreneurship? This could be the best-designed business incubator on the planet and the students are going to create real businesses here. Hey—this is too much fun! It sure doesn’t look like high school to me! Where did they put the usual long halls walled by the usual rows of lockers? Where are the standardized rigid rectangular classrooms?

This is IN2, the new entrepreneurship center at IMSA—the Illinois Mathematics and Science Academy—the Statewide high school for the best and the brightest. It’s located near Chicago and students live on campus, as if attending a university four years too soon.

IMSA will host a big party and ribbon cutting for the new IN2 innovation space on the 30th of the month—that’s the 30th anniversary of the school’s founding. I had the unique opportunity to preview this amazing facility. Here’s a sneak peek:

IN2 at IMSA (Note the unique tables and ping pong net)

Britta McKenna is the Chief Innovation Officer here, and led the team that put this together. As I fumble to get my recorder going, I ask her how they pulled it off. Without any hesitation, she pours out an amazing story—so here it is, verbatim:

[First of all, I asked about the name—IN2. What does it mean?]

“Innovation and Inquiry. When people were in focus groups and asked about IMSA, those were the two words that came up over and over. So the company we worked with used Inquiry & Innovation as IN-IN. That’s why it’s called IN2. So you can say, ‘What are you IN2?’ It can be playful.”

Britta McKenna, Chief Innovation Officer

“The story actually goes back 10 years. It was decided an innovation hub would be built—a physical space and a virtual space.

“Three and a half years ago, we got a gift of one million dollars from Steve Chen to build the innovation center, so then the work really began.”

[Chen is an IMSA alum and co-founder of YouTube and AVOS. I asked Britta how they came up with such a wonderful design]

“I got tapped, as chief innovation officer, to figure out what this would be, what it would look like, how it would operate, how it would be funded. It would have to be a private revenue stream to support this.”

[ALERT—All you budget hawks. She’s talking private funding—and she’s got the corporate connections and alumni to do it.]

Maker Space

“So I brought along students to Silicon Valley—15 of them. We went through Chicago to spaces like Northwestern, IIT, University of Chicago, Fermilab, Argon, 1871, Private Industry Chicago, Next Door, and we also went out to Boston to visit MIT Media Lab, and other spaces out there, including artist colonies to be inspired to by what people were doing coast-to-coast in innovation spaces.”

Multi-use conference rooms

“That was a 2-year research project and included the students all the way. They worked in three teams—Developing Technology, Programming, and Facilities. They helped co-design the space, because they are the users, and too many times, we design things in a box outside of the users. So we implemented a user-designed thinking approach.”

Lab space

“We went to Facebook, Google, Dropbox, AVOS, which is Steve Chen’s newest startup, WeWork, which is a co-working space, and Stanford’s StartX, so we literally have done our due diligence.

“And I asked, ‘What space gets used the most? What’s your favorite thing? And what did you do wrong?’

“It doesn’t mean that those things will all work here, but it’s likely that we might have success if somebody else already has. So we synthesized all of that and I became what is known as the ‘hashtag’ Super-User. And the Super-User is the one that funnels all of this information to the architects, because now it actually has to be designed.”

Idea space

“We went to the community. We came together—58 of us—anyone from a Chicago Public School teacher to a city administrator with City of St. Charles. We got public, private, parents, past parents, teachers—everybody came together and literally built models of this space. We went through the design process with architects, we used Cordogan Clark in Aurora, and we built this—it took about a year to build from the time we broke ground and now we’re opening up.”

Sharing space

“So all the spaces here are influenced either by student ideas or places coast-to-coast that we visited. And so we’d probably say that we’re the first secondary school innovation center in Illinois, and dare we say the United States because we haven’t been able to find something like this. First-to-market is great for Illinois, great for Aurora, and puts IMSA on the map. We invite people to come in and see what we’ve built here.”

Collaboration space

“This is really meant as a convening space. Innovation doesn’t happen unless there are people here. We learned from going coast-to-coast that you can have the coolest space ever, but if there’s nobody there, there’s no innovation happening. There’s nothing happening. It’s all about connecting people.”

Coffee Bar

“One of the biggest places we found is around food. So we have a built-in cafe around the corner because you want to meet somebody for a cup of coffee. You just want to have a casual conversation. You want to have a back-of-the-napkin sketch, that can happen there or it can happen in our idea bar.

“We have Idea Baristas that we’re training. They actually wear aprons, and will help people advance their ideas here. They’re all volunteers.”

Idea Baristas.

We’ve got a mentoring office like 1871. We hope by the fall to have regular office hours. So I am a non-profit mentor. On Tuesdays from 4-6:00, I volunteer my time to mentor non-profits in the community. I can go to them. They can come to us.”

Mentoring Office

“Mike McCool, who’s an alum and a software engineer, wanted to donate and I said, ‘How ‘bout we get the McCool View?’ So he funded the beautiful windows that we have.”

The McCool View

“Our reach—about advancing the human condition—can, I think, really be actualized through this space. Not that we weren’t doing it—it just gives us that new front door. The space is just literally right by the front door.”

A huge competition between student startup companies— POWER PITCH—is going on here today. I’ll give you an inside look at that in the second article in this series.

Moises Goldman – Judge at POWER PITCH

I run into an old friend, Moises Goldman—angel investor, a big driver at MIT, and an important contributor at IMSA. Today he’s one of 17 judges at POWER PITCH. I ask him what he thinks of the new facility. Moises responds in his gentle, deliberate, and old-world manner, condensing his thoughts into a few words:

“I think it’s always been the desire to be in a type of space that recognized talented students. This is our recognition of these students. That makes a difference to me.”

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Notable IMSA Alums

The school’s alumni reflect its excellence. Browse through a few:

Steve Chen – Co-founder/Chief Technology Officer of YouTube and AVOS. Early engineer at PayPal.

https://en.wikipedia.org/wiki/Steve_Chen

Steve Crutchfield – Chicago Trading Company. CBOE Advisory Board, Head of Options, ETPs, Bonds at NYSE Euronext.  2012 Crain’s Forty Under 40.

http://marketswiki.com/wiki/Steven_Crutchfield

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Dr. Julia Comerford – Astronomer. Discovered several supermassive black hole pairs—occurring in the merger of galaxies.

http://www.sci-news.com/astronomy/pair-black-holes-distant-galaxy-03546.html

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Dr. Scott Gaudi – Astronomer, discovered over a dozen new planets and a new solar system.

https://www.imsa.edu/news/releases/2012/08/06/president-obama-honors-dr-b-scott-gaudi-91-highest-honor-early-career-scien

http://www.astronomy.ohio-state.edu/~gaudi/

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Nathan Gettings – Co-founder of Palantir. Founder of robotics company Robotex.

https://en.wikipedia.org/wiki/Palantir_Technologies

Also – http://www.robotex.com/

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Ramez Naam – Software developer and international bestselling author. Developer at Microsoft Outlook and Internet Explorer projects.

https://www.amazon.com/Ramez-Naam/e/B001IOH84S/ref=sr_tc_2_0?qid=1489516515&sr=8-2-ent

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Mike McCool – Software Engineer at Google, Robot Invader, Aechelon Technology, Netscape, and many others.

https://play.google.com/store/apps/details?id=com.robotinvader.fooding&hl=en

Rob McCool – Software developer and author. Developed the original NCSA Web server, later known as the Apache HTTP Server. Part of original NCSA Mosaic team with his twin brother Mike.

https://en.wikipedia.org/wiki/Robert_McCool

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Tim Meyer, PhD – Chief Operating Officer, Fermilab

http://www.fnal.gov/pub/about/timothy-meyer.html

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Yu Pan – Co-creator of PayPal and the first employee at You Tube. Co-founder of kid’s kraft company Kiwi Crate.

https://en.wikipedia.org/wiki/Yu_Pan

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Dwan Prude – Financial Analyst, Boeing Company. Motivational speaker.

https://www.imsa.edu/news/releases/2012/08/20/dwan-prude-97-gives-passionate-and-motivational-2012-convocation-address

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Russel Simmons – Co-founder of Yelp. Early developer at PayPal.

https://en.wikipedia.org/wiki/Russel_Simmons

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Clara Shih – Bestselling author, THE FACEBOOK ERA. Founder of Hearsay systems. In 2010, she was named one of most influential women in tech.

https://en.wikipedia.org/wiki/Clara_Shih

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Kevin Wang – Founder of TL;DR Legal. Theil Foundation fellowship recipient.

https://www.imsa.edu/academics/talent/kevin-wang-new-thiel-fellow

Also – http://www.geekwire.com/2012/kevin-wang/

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Sam Yagan – American internet entrepreneur. Co-founder of SparkNotes and OkCupid. CEO Match.com. Named in Time Magazine’s 100 most influential people in the world list.

https://en.wikipedia.org/wiki/Sam_Yagan

 

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Hope you enjoyed Part 1 – THE NAME IS IN2

Read Part 2 – POWER PITCH

Go to Part 3 – INQUIRY & INNOVATION

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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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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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4 Comments

Filed under Chicago Startup, Chicago Ventures, Education, Entrepreneur, Entrepreneurship, IMSA, Innovation, Innovation and Culture, Invention, new companies, Public Schools, Social Entrepreneur, Startup, startup company

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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2 Comments

Filed under 1871, angel, angel capital, angel investor, chicago, Chicago Ventures, Entrepreneur, Entrepreneurship, Events, IMSA, Innovation, Invention, investor, new companies, pitch

SIX KIDS PUT TECH COMMUNITY TO SHAME

Rong Mayhem is screaming. “This kid puts the whole tech community to shame! His presentation is better than 90% of the professionals!” Bill Blaire mutters a response as if talking to himself. “Why don’t them guys make that loudmouth pipe down?” Thinking back, I recall Rong Mayhem getting silenced—even banned, but his harsh voice sometimes broadcasts the raw truth and I find that valuable.

In a roomful of investors and professionals, I sit between Bill and a six-foot-six giant of a man, Dr. Alexander Harbinger, three-time Ph.D. Alex looks around me to address Bill in his faintly German accent. “It is my heartfelt belief that the man is correct in his assertion,” he says. Bill responds with a scowl and crosses his arms. I nod and give a thumbs-up—I agree with every word Ron just blurted out.

The next speaker begins his pitch and Alex lets out a whispered, “Yes.” I feel the enthusiasm in the room. He leans close to my ear. “Think of it, John: These are high school children. One is only an 8th grader. And at a time that the public schools struggle to teach reading and simple arithmetic. We are seeing hope for the future of our country.”

I meet his eyes. I see the passion there. I’m getting treated to the six best startup pitches of the year. We’re at POWER PITCH, the capstone event of a partnership between IMSA and the MIT Enterprise Forum right here in Chicago. It’s the 25th anniversary of IMSA—the Illinois Mathematics and Science Academy—the high school with some of the smartest kids in the world. They’re proving it tonight—showcasing their new entrepreneurial program called TALENT.

“Nice digs.” It’s Bill Blaire, patching things up with Harbinger. I lean back in my leather chair and take in the enormous room, the multiple screens—the IBM Innovation Center is a beautiful facility. “TALENT,” Bill says, “Acronym, anagram–whatever. Must stand for somthin’ but I duno what. Teens Always Learn…Ten Advanced Lunatics… That can’t be it.” Then he taps the back of my head. “One thing’s sure—these kids know their stuff—anybody can see that.”

Alex responds for me: “These young people are more than just poised. They are professional and their fledgling ventures deserve serious attention.”

So, Bill challenges him. “You ready to plunk down a quarter mil in a company started by a 17-year old kid?” As the next speaker steps to the front, Alex surprises me. “Yes,” he says.

“What about that 12-year old?”

“Of course.”

Alex is right. These kids are for real. They aren’t geeks and they aren’t loners. Each of them comes with a team. Tonight we’re only seeing technology ventures. In the back of the room sit a group of students with non-tech companies. Smiling. Polite. Quiet. What kind of ideas did they cook up? I wish there was time to hear them all.

At break, a guy I don’t know pulls me aside, bursting with the need to let off some steam. He praises the kids up and down then finishes with, “Don’t you realize these entrepreneurs aren’t even legal age?”

I return to the room and Harbinger is asking Blaire what he thinks about one of the contestants. Alex sees real potential. And sure enough, at the end of the evening that one takes first place and the lion’s share of a fat cash prize.

Back at my seat, Alex points out an older gent in front. “That is Dr. Moises Goldman. He created this partnership between the MIT Enterprise Forum of Chicago and IMSA.” I know Moises. I like him—everybody does. We’re all glad he’s still making an impact on the entrepreneurial spirit of this city. Moises introduces Carl Heine, lead innovation architect of TALENT and I become conscious of an unusual number of Ph.D. level academics in the room.

I think back to the icebreaker before the session. We grab some food and after Bill complains about the lack of beer, he says, “Lookit all these kids in the crowd. Notice something strange?”

It takes me a moment to process that. Finally, “They’re all dressed like business people. Real clean cut. Unusual for high school kids.”

Bill glares at me as if I’m dead from the neck up. “Naw, it’s way bigger than that. Look—none of ‘em is usin’ a smart phone. The only guy doin’ that is the old man over there in the corner.”

I have to smile. Can you beat that?

The judges make up quite a group—not the usual panel of pitch coaches and angels investors:

  • Bob Geras—CEO of LaSalle
  • Kevin Willer—CEO of CEC
  • Nik Rokop—Executive Director of Knaap Entrepreneurial Center
  • Dr. Lance Pressl—President of the Chicagoland Chamber of Commerce Foundation
  • Jose deFrancisco—Director of Marketing for Cloud Computing at Lucent.

At the end, they present the winners with checks—great big checks.

“Hey, lookit the size of that thing.” Bill laughs but Alex is clearly annoyed with him. “Are you referring to its physical dimensions or the dollar denomination, Mr. Blaire?”

“Both. Big as a tabletop. Numbers ain’t shabby neither. A kid can do a lot with that kinda dough.”

I need to catch a train and quickly look over my notes on the six ventures.

ATONA 

Lydia Auch and Kenso Esquivel – IMSA – 1st Place Winners.

These kids give a peek at the future of music-reading technology and put on a good show too. Kenso tries to turn pages of sheet music while playing a violin. Impossible. His music falls in a heap on the floor. That gets a big reaction from the crowd. Lydia takes over the presentation with this quote, “There has been almost no innovation in music technology since the 15th century.”

Good start.

Their offering is an electronic music reader with double touch screens, each large enough to see an entire sheet of music with e-ink technology—much like an oversized Kindle, not those tiny backlit tablet screens. You can see your music in any light and the device consumes almost no juice. A musician can store an entire library of music in one location and carry it everywhere—and it turns pages automatically with the music. Other features include a tuner, a sound recorder, a metronome, and a USB interface. A musician can scan hard-copy sheet music or download it on the cheap. Hey, I want one of these things.

They acquitted themselves like professional speakers with super-cool visuals, a clever marketing plan, and well-justified numbers. I won’t go into those details—all six contestants did a fine job. The technical side of their presentations wowed us as much as the smooth delivery and slick graphics.

TOSIgram

Andrew Chen – Nequa Valley High School – 2nd Place Winner.

This kid proved that TALENT is open to students outside IMSA. He started with a clear statement. “The way we deal with privacy is broken.” He went on to point out that everybody needs to decide on privacy boundaries. But who wants to read a 9-page document? Who wants to draft one? TOSI stands for “Terms of Service Made Easy.”

A Carnegie-Mellon study shows that reading privacy policies use up an average of 25 days a year per person and soon they’ll be required for the thousands of mobile apps. Every storefront needs one and the list is growing. TOSIgram has created an online step-by-step process to create these documents. It bypasses the lawyers. It provides a summary-driven interface that lets the user quickly drill down to the clauses that matter.

The Living TEG

Shivansh Padhy – Granger Middle School – 3rd Place Winner.

That’s right—he’s in 8th grade, maybe 13 or 14 years old. He poses this idea: “Imagine a world where YOU are the source of power for all your energy needs.” He’s discovered a practical way to use excess human body heat to re-charge electronic devices. This is both extreme green and extremely useful. No more batteries or electrical outlets.

Turns out the human body produces 116 watts of heat every hour. A smart phone only needs five. Body heat can run a cell phone continuously and energy can be stored for higher output devices. His first target is cell phones, then medical electronics, then radios and flashlights. He has a working prototype. If he’s in 8th grade now, what will he do when he gets to IMSA? When he gets to MIT?

TiqFolio

Kevin WangIMSA

This one wins my prize for the best speaker. He’s the super-glib one that caused Ron May to blurt out his praise at the start of the meeting. TiqFolio is a unique online storefront concept for selling digital products—a gap in the market. He’s applying a proven business model to a new segment.

Sofi

Shawn JainIMSA

“Put your portfolio online.” People love to talk about their stocks on the Internet. They love to socialize on the Internet. Why not combine those two? The result is an investor community. People helping each other succeed.

QuickLine

Jennifer Ren, Mitch Bieniek, and Konrad WrobelIMSA

Imagine creating your own bus route—one that fits your needs. These kids have a network to dynamically optimize bus routes and make them more efficient. They gather input from the end user then use a computer algorithm to re-route and size the transportation. A working prototype is already in place in the form of an Android app.

What’s next?

This summer, TALENT is putting on a 2-week micro incubator to bring in partners and make student’s ideas a reality. I’d like to see them find the right consultants and the right investors—the kind that’ll really help these kids.

For Information on the summer TALENT incubator, contact Dr. Carl Heine at heine@imsa.edu

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GO BACK TO PART 1 – THE TWO LAWS

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Find Chicago Venture Magazine at
www.ChicagoVentureMagazine.com
Comments and re-posts are welcomed and encouraged. This is not investment advice – do your own due diligence. I cannot guarantee accuracy but I give you my best.

© 2012 John Jonelis – All Rights Reserved.

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Filed under IMSA, MIT Enterprise Forum