Entrepreneurship Resource Nights: Getting Started

Each week you can read a recap of the previous Entrepreneurship Resource Nights (Business Plan Practicum) session. This week, instructor John Zagula (founder, Ignition Capital) lead a class featuring Ambika Singh, the CEO of Armoire and Amy Sallin, director of the Buerk Center for Entrepreneurship.

FIRST SESSION

We had a fun first session of the 2019 Business Plan Practicum (aka Resource Nights). We introduced the class with a lively overview of entrepreneurship and topics to be covered throughout the quarter (and provided cookies!) .

We welcomed Amy Sallin to entice students to enter one (or more!) of the Buerk Center’s 2018 competitions—the Hollomon Health Innovation Challenge (HIC), the Alaska Airlines Environmental Innovation Challenge (EIC), or the Dempsey Startup Competition (formerly the UW Business Plan Competition). Amy spoke about how taking part in a competition is a great way to make some real progress on your idea or vision (or perhaps a Capstone project?) in a low-risk environment. You’ll gain visibility and receive feedback from the experienced entrepreneurial community and start to build your network. And yes, there is prize money! She mentioned that the Buerk Center has awarded over $3 million in funding and prize money since 1998!

We then welcomed Ambika Singh, CEO of Armoire, an on-demand wardrobe company. Singh detailed how Armoire has a huge market opportunity with more than 50 million women making over $40k a year, but facing a world where there are more and more fashion retailers being shut down. That creates an environmental where rental fashion can solve industry issues. Singh spoke about asking for outside advice from people who are on the inside to better be able to recognize groupthink. She suggests everyone start a business that consumes their mind and brings together a team that has the same mindset, passion, and goals.

ENTREPRENEURSHIP RESOURCE NIGHTS LECTURE SERIES

Are you entre-curious but not sure how to begin? Have you always dreamed of creating a company? Do you already have a startup and want to take it to the next level? Students across campus are enrolled in the Business Plan Practicum (aka Resource Nights)—but you can also to drop-in and learn first-hand from local entrepreneurs the essentials of business planning and what it really takes to get a company off the ground! The ten sessions include topics such as: From idea to product; assessing risk; business models and financials; legal issues; crafting and giving a great pitch.

Resource Nights are each Thursday starting January 10 from 6 to 7:50 p.m. in PACCAR Hall 192 (Shansby Auditorium). Can’t make it in person? Lectures will be recorded and the links posted to our website weekly. View the Resource Night schedule for links and complete listing of topics and guest speakers.

QUOTES OF THE WEEK

“The secret of getting ahead is getting started.” – Mark Twain

WEEK TWO

Tuesday, January 17 at 6:00 pm in PACCAR Hall, Shansby Auditorium (room 192)

Guest speaker(s) include David Younger, CEO of A-Alpha Bio (2018 grand prize winner of the UW BPC), as well as a panel of past competition participants. We will also go over the keys to launch:

• Product
• Plan
• Pitch

Reminder, you can drop-in or catch the recording of this weekly course.

QUESTIONS ABOUT THE HIC, EIC or DEMPSEY STARTUP COMPETITION?

Hollomon Health Innovation Challenge: Terri Butler
Alaska Airlines Environmental Innovation Challenge: Lauren Brohawn
Dempsey Startup Competition (formerly UW Business Plan Competition): Sarah Studer

Have a great 2019!