Welcome to the Entrepreneurship Academy Blog!!

The IIT Entrepreneurship Academy can help make your business idea a reality.

A university-wide initiative led by IIT Stuart School of Business, the Entrepreneurship Academy invites you to join our network of entrepreneurs and people interested in learning more about startup businesses. Our purpose is to advance the spirit and understanding of entrepreneurship on a variety of levels.

Whether you are pursuing a minor in entrepreneurship, listening to an industry leader at one of our exclusive events, or taking advantage of our networking opportunities, our goal is to connect you with the people and resources that can help make your business idea a success.

Our Google+ community is the best way to stay up-to-date on our programs and events. We are working to create a space for ideas to develop and networks to grow. Follow the IIT Entrepreneurship Academy today for the latest resources, news, and advice from fellow community members.

Name: Erica Bush 

Startup sound bite: “It wasn’t so much that I sought to become an entrepreneur. When I was doing systems engineering at the bank, I was encountering the same problems and coming up with quick ‘band aid’ solutions. At first it didn’t dawn on me to dig deeper and see what the issue was, until my supervisor pointed out that you really have to get to the root of the problem to come up with a real solution. Now, in my life, when I see a problem, rather than a quick fix or a band aid, I try to come up with real solutions that are more long-term and lasting.”

Education: BS, Information Technology and Management, IIT School of Applied Technology, 2006

Business launch: Looking for a way to be more “green” and make better use of reusable shopping bags, Erica invented a product called Double Stax ^TM as part of her company Easy Simple Bags, LLC. The stackable, compact, reusable bin system allows shoppers to buy in bulk without having to remember to bring multiple reusable bags on each trip.

Inside track: Erica was invited to present her business idea to IIT Stuart’s Knapp Entrepreneurship Center Board of Advisors. After that presentation, board member Ronald Rashkow helped Erica connect with a company that helped her find a manufacturer for Double Stax ^TM.

Latest project: After participating in Walmart’s “Get on the Shelf” contest last year and being invited to apply to the ABC show “Shark Tank,” Erica is focusing on marketing her company and identifying stores that will sell Double Stax ^TM. The product is currently being considered for distribution through Menards stores and will be available at Farmer’s Markets and French Markets in the Chicagoland area this summer.

Erica welcomes any feedback on her product, and is particularly interested in marketing advice. Visit http://www.doublestax.com/ to learn more about her product and to connect with Erica.

Erica Bush didn’t plan on becoming an entrepreneur, much less an inventor. No stranger to hard work and persistence, Erica’s business idea developed the way many do — by looking for a real, long-term solution to a reoccurring problem.

Erica earned her bachelor’s degree from IIT in Information Technology Management part-time, while working full-time for IIT Chicago-Kent College of Law. “Working full-time and having a family, I could only go to school in the evening,” she notes. With three kids at home, Erica quickly learned how to make the most of her time, and finished her degree in less than two years.

In 2006, Erica accepted a position with Bank of America, where she was attracted to the idea of combining technology and investment banking. That position was the key to a new outlook, one that would ultimately lead Erica to her business idea.

“When I was doing systems engineering at the bank, I was encountering the same problems and coming up with quick ‘band aid’ solutions,” she remembers. “At first it didn’t dawn on me to dig deeper and see what the issue was, until my supervisor pointed out that you really have to get to the root of the problem to come up with a real solution. Now, in my life, when I see a problem, rather than a quick fix or a band aid, I try to come up with real solutions that are more long-term and lasting.”

Based on that outlook, Erica came up with a novel approach to a tougher-than-expected New Year’s resolution. After committing to use reusable shopping bags to be more “green” one year, she noticed she often forgot the bags, or wouldn’t have enough to contain purchases for her family of six. “I came up with this idea — what if you use fewer bags, and you can store them neater in the trunk of your car?” she says.

After searching extensively in stores and online for a product that would fit her needs, she started sketching out ideas in a notebook for developing the product herself. “I had this idea, but in the beginning I didn’t think it was anything that I was going to create, I was just searching for the product that I needed, and I couldn’t find anything,” she says.

Once it became clear that the right product didn’t exist yet, Erica reached out to a neighbor and friend who could sew, and over a couple of months of collaboration, the two developed the first prototype for Double Stax ^TM. In the meantime, Erica worked with an intellectual property attorney to develop a non-disclosure agreement (NDA), and was asking everyone she talked with to sign one just to be safe.

Once the initial prototype was created, Erica filed a provisional patent and started holding informal demo sessions in her home with friends and family. She would have them review the “description of invention” from her patent application, and then give her feedback on the actual prototype.

“I used that process for the formal patent that I filed later,” she says, “because that was really good feedback for me. When you’re filing a patent, you have to be so precise in your language, and getting that feedback from that process really helped.”

Once she had feedback on her prototype, she started searching for manufacturers. Erica reached out to the Small Business Administrations’ SCORE Association and was put in touch with a volunteer business counselor with a background in manufacturing. After spending 3-4 months looking for domestic manufacturers and sewing contractors trying to create additional prototypes, she stopped by a local manufacturing company called Plano Molding in Plano, IL on a whim. Knowing that the company made tackle boxes and craft storage containers, she took a chance and asked if they could create additional prototypes for her. Although the manufacturer’s price wasn’t one she would choose as part of her long-term business strategy, she was able to purchase 20 additional prototypes, making her search for a manufacturer a bit easier.

“I really felt like I was spinning my wheels a lot, because when you’re starting something new that you’ve never done before – there was a lot of self-doubt, I didn’t know if I was doing the right or wrong thing, but I felt like I needed to be doing something,” she says.

Around the same time, she had entered a contest through Walmart called “Get on the Shelf” for inventors. Armed with a YouTube video and her additional prototypes, Erica officially made her product public and lobbied everyone she had ever met to vote for her product in the competition.

One of those contacts, a former colleague at IIT, suggested that Erica contact IIT Stuart’s Knapp Entrepreneurship Center for additional support. Erica connected with Nik Rokop, and started the application process for the ABC show Shark Tank with his feedback.

Nik invited Erica, along with a group of student and alumni entrepreneurs, to pitch their business ideas to the IIT Stuart Knapp Center’s Board of Advisors for additional support. Erica presented the Board with her current challenge — finding a manufacturer who could work within her price point. Board member Ronald Rashkow, formerly of the Handy Andy retail chain and current founding principal at RPMS, Inc., put Erica in touch with a promotional products company called Konik & Company in Skokie, IL, in hopes that they could recommend some overseas manufacturers.

“What I’m learning is that people really will help you if they think you have a good idea, and if they like you,” says Erica. “This entire experience has been a process, and I am learning constantly.”

With Konik’s help, Erica secured a manufacturer in China, and in August 2012, she received her first product shipment. So far, her business has been completely self-funded. “I really feel like, before I can ask anyone for money, I need to know for certain that they’ll sell,” she says, and with the production process finalized, she is ready to answer that question.

This spring, Erica is negotiating with Menards to debut Double Stax ^TM in their stores, and she plans to participate in several Farmer’s Markets and French Markets throughout the Chicagoland area once they open. Her product will be available for $19.99, and is currently available for purchase on her website as well. Her main goal moving forward is to develop her marketing plan and continue to do market research.

Meanwhile, Erica still works full time with Bank of America and devotes a lot of energy to her family, but is hoping her company will eventually become her full-time career. “My company is called Easy Simple Bags, and what I’d like to do is offer easy simple solutions for your everyday life,” she says. “I hope that the Double Stax ^TM is just one of many products that will make your life easier and simple.”

Congratulations to Darya Ivankina, BSBA ’13, who received the Outstanding Student Employee of the Year Award at IIT’s 2013 Clinton E. Stryker Annual Awards Banquet on Tuesday, April 30. 

Darya has been instrumental in the success of the IIT Entrepreneurship Academy and the IIT Stuart Knapp Entrepreneurship Center, taking on the roles and responsibilities of the associate director after coming on board as a temporary worker. Among her many accomplishments, she created an annual event schedule of entrepreneurship programs and events, helped launch the entrepreneurship honorary society Sigma Nu Tau, developed a team of student workers and managed several ACE students to help with EA/KEC activities, implemented a comprehensive social media strategy, and all while working to earn her BSBA and raising her 4-year-old son.

Name: Matt Dabney

Startup sound bite: “There is no strict definition of an entrepreneur, so if you’re drawn to this industry but don’t think you fit the cookie-cutter mold, get rid of that mold. Put yourself in situations where you see how many times and ways the mold can be broken, because that’s what a lot of entrepreneurs are about — really making those connections and that outside of the box thinking.”

Education: BS, Business Administration, IIT Stuart School of Business, 2005

MS, Finance, IIT Stuart School of Business, 2007

MBA, University of Chicago – Booth School of Business, 2013

First business launch: As part of the University of Chicago’s New Venture Challenge (NVC), Matt worked with a team of fellow Booth MBA students to develop “Who’s In,” a platform that uses near-field communication to organize social outings and connect with your tangential network. The team made it to the semi-finals of NVC.

Inside track: Matt was accepted into the pilot Knapp Center Venture Accelerator Program at IIT, where he laid the groundwork for his current business, Swift Expo, LLC, and mentored other startups.

Latest project: Matt and his business partner Bob Gillespie have developed Swift Expo, LLC, a company that provides scheduling software to streamline event staffing logistics at conferences and trade shows. Key clients include Chicago Ideas Week, C2E2, and NYC’s Comic Con. Matt and Bob are finalizing details for a merger with a similar company to provide more robust conference and trade show services.

For Matt Dabney, identifying “personal pain points” has proven to be a useful strategy for business development.

His first company, “Who’s In,” was born from a conversation about the shortcomings with Bump Technologies. Matt’s suggestion was to use near-field communication to organize social outings and connect with the user’s tangential network. His classmates at the Booth School of Business jumped on the idea, and the team took “Who’s In” to the semi-final round of the Booth New Venture Challenge.

A couple years later, while working at conferences and trade shows, including Chicago Ideas Week and Comic Con, Matt noticed another pain point, this time with the crew scheduling process. “They were all still doing this manually,” he said. “I was dealing with two of the biggest names and a lot of the biggest pockets in the conference and trade show industry. If they hadn’t found a better way, I was going to make one.”

In December 2011, Matt pitched his solution — using only PowerPoint —to coordinators at Reed Expos, the fourth largest in company in the industry. His goal was to determine whether or not conferences would budget for this type of scheduling tool.

One week later, Matt had a budget and his first paying client.

Not too long after that, Matt entered the inaugural group of entrepreneurs in the Knapp Center Venture Accelerator Program at IIT, where he focused on developing his company, Swift Expo, LLC, and worked with a fellow IIT alumnus on developing the software prototype. Along the way, Matt used his connections as a conference volunteer to bring on additional clients.

At the Chicago Comic and Entertainment Expo (C2E2) conference in April 2012, the software platform made a strong debut, reducing 120 hours of crew management time to only 8 hours of work with a 96% satisfaction rate among the show’s crew. A second generation version of the software was used for Chicago Ideas Week and NYC’s Comic Con in October 2012, and after doing several smaller shows and conventions, Matt had six clients.

As the business grew, Matt was focused on the scalability of his platform, and partnered with his friend and mentor from Chicago Booth, Bob Gillespie to further develop his business. A big part of their successful partnership is their perspective that entrepreneurial ventures don’t always have to be instant “homeruns.”

Matt comments, “The startup community is perpetually looking for homeruns. We’re looking for the next super-big thing, instead of focusing on how we can make doubles or triples all day long. How can we consistently build a lot of really healthy companies and make them successful, rather than asking ‘Will this one be a billion dollar company or will it fail?’.”

The team now works out of 1871, where they’ve spent the past few months identifying next steps for the business. In early 2013, drawing on contacts made through Technori and 1871, they announced plans to merge with another conference and tradeshow software company to provide even more robust services for event attendees and crew.

As his business evolves, Matt plans to continue mentoring other entrepreneurs and startup businesses. He returns often to IIT, where he was the first graduate of IIT Stuart’s undergraduate business program, participated in the Kaplan Fellows Entrepreneurial Studies Scholar program, and earned his MS in Finance in 2007.

Incidentally, early in his career, it was a connection with IIT alumnus and Chicago business leader Robert (Bob) Pritzker that led to Matt’s first employment out of college. After working both in supply chain management and business development in two of Pritzker’s companies, Matt affirmed his desire to pursue an entrepreneurial career path. “I realized that, if I’m going to be spending 40+ hours a week at something, I really want to love it,” he says. “Even if it’s kind of an income sacrifice to do it, that’s important to me.” Matt credits this connection as one of his life-changing experiences.

As he continues to explore new startup ventures, Matt ultimately hopes to start his own incubator in the long-term. “The homerun every time doesn’t fit for me,” he says. “I want to start something that makes it easy for good companies to get better.”

In the meantime, he encourages budding entrepreneurs to change some of their perspectives, both on what it means to fail, and on what traditionally makes an entrepreneur successful. “Every entrepreneur that I’ve met – and I guess now, myself included — defines failure differently than other people do,” he says. “It’s not a matter of, ‘I did this wrong,’ it’s a matter of ‘How do I do it better next time?’”

“There is no strict definition of an entrepreneur,” he adds, “so if you’re drawn to this industry but don’t think you fit the cookie-cutter mold, get rid of that mold. Put yourself in situations where you see how many times and ways the mold can be broken, because that’s what a lot of entrepreneurs are about — really making those connections and that outside of the box thinking.”

Interested in learning more about SwiftExpo, LLC, or Matt’s advice for startups? Matt welcomes students, alumni and fellow entrepreneurs to connect via email at matt@swiftexpo.com.

On February 21, IIT alumna and energy executive C.J. Warner spoke to a group of more than 50 IIT students, faculty and staff about the secrets behind her career success as part of a special networking event hosted by the IIT Entrepreneurship Academy.

Ms. Warner earned her undergraduate degree in Chemical Engineering from Vanderbilt University, and began her career at UOP where she learned the ins and outs of refining operations. She earned her M.B.A. degree with a focus on technology management from IIT in 1987 while working full-time in the oil industry.

During her career, Ms. Warner has worked in leadership roles at companies including Amoco and BP. As an executive at BP, she served as head of global refining with 11,000 employees reporting to her. Most recently, she moved from London to San Diego to serve as Chairman and President of Sapphire Energy, a biologist-founded startup focused on producing renewable crude oil from algae, in 2009. Ms. Warner was named Chief Executive Officer in 2012.

“The key to success is doing something you really love, and sticking to that vision,” she told the group, sharing how her career has evolved from oil refining to focusing on identifying renewable energy resources.

After a brief presentation on her own career path and how she maintains a work/life balance with her family, Ms. Warner answered questions from the crowd.

Students Amanda Rapacz and Rani Shah, both juniors majoring in chemical engineering, appreciated her career advice. “I am personally really interested in work

ing in renewable energy,” said Rapacz. “She talked about starting in the petroleum industry and learning that background so that you have all of the facts to move into renewable industries, and that is good advice that I hadn’t considered before.”

Shah agreed, adding that her comments about work/life balance were also helpful. “It was surprising to hear how she has put her family first and is really succeeding in her career. As students, we think about that a lot — how we might one day have that balance in our careers.”

Questions from the crowd ranged from the scientific details of the algae-to-oil process, the challenges of securing venture funding for renewable energy startups, and the corporate culture of Sapphire Energy.

During her visit to IIT, Ms. Warner also made a presentation on “Growing the World’s Fuel” at IIT’s Wanger Institute for Sustainable Energy Research (WISER), and spoke to the AIChE student chapter on campus. “It’s really exciting to be back on campus and see how vibrant it has become,” she commented, noting that there are still elements of campus that she remembers from her time here.

Following the Q&A session, Ms. Warner mingled with the guests and posed for a few photos with students. Nik Rokop, managing director of the IIT Entrepreneurship Academy and the Knapp Entrepreneurship Center at IIT Stuart, works to create these opportunities for students to connect with IIT alumni and successful entrepreneurs. “The IIT Entrepreneurship Academy is a resource for all students who are interested in entrepreneurship,” he says, “and we encourage students from all across campus to take advantage of these events and programs to learn from some great business leaders.”

Name: Alex Uribe

Startup sound bite: “My Zen moment is when I’m with my team, we’re brainstorming, and we’re actually working toward creating something. To me, saying  ‘Let’s build this’ — and to have the people to do it, has to be one of the neatest experiences ever.”

Education: AA, Philosophy, and AS, Business Administration, Miami Dade College

BS, Business Administration, IIT Stuart School of Business (2014 expected)

First business launch: After working for the Apple Store in Miami, FL, for three years, some of his regular customers suggested that he consult. In 2009, Alex founded an organization that is now Five Three, Inc., offering tech services including network deployments, data storage, and web development.

Inside track: Alex landed an internship with1871 this spring with the help of Nik Rokop from the IIT Entrepreneurship Academy, and connects with other entrepreneurs at guest speaker programs through the Knapp Entrepreneurship Center.

Latest project: Alex and his team at Five Three have recently founded a new company, Zeppla, Inc., and are developing a platform for food trucks. Since everyone working on the project is a full-time student, programming and development is happening on weekends and academic breaks.

He can’t pinpoint a specific moment when he became an entrepreneur, but Alex Uribe’s first business opportunity presented itself while at his first job, working at an Apple Store in Miami, Florida. He started a little more than a year before the first iPhone was released, while still in high school. Alex says he wore many hats at the time — doing everything from basic repairs to hosting workshops and one-to-one sessions for the store’s customers.

To his surprise, Apple’s customers would soon become some of Alex’s first business clients.

By 2009, in addition to working for Apple, Alex was also pursuing an associate’s degree at Miami Dade College, where he was elected student body president of the Wolfson campus. After three years in retail, Alex put in his notice with Apple to focus on his education and student government.

Some of the regular Apple customers were hoping to keep working with Alex, however.

“A lot of them would ask, ‘Would you want to consult outside of the store?’” says Alex, who admitted the idea seemed interesting. “I formed many strong relationships with customers, and so consulting came very natural after I left Apple.”

As the demand for his consulting services grew— from network maintenance to data storage, and then to web development — Alex assembled a team of programmers and designers, and his business evolved into a company now known as Five Three, Inc.

While still consulting, Alex learned about Illinois Institute of Technology and Stuart School of Business. “I was studying business, but I wanted to be in an environment where there were lots of engineers and computer scientists who I could communicate with and work with,” he says. After hearing about IIT from a former classmate who had recently transferred, Alex applied and was admitted in August 2012.

Now, in his second semester as a full-time IIT student with a company still based in Miami, Alex has made arrangements to keep Five Three, Inc. running smoothly. This means starting his day at 4:00 or 5:00 a.m. with consulting work, followed by a packed schedule of classes, studying, part-time work, and student activities — including the IIT Rock Climbing Club. “While I was in Miami, it was a similar type of chaos,” he says, adding that he strives for a work/life balance in the evenings.

A full schedule doesn’t keep him from jumping on new opportunities, though.

At IIT Stuart, Alex takes advantage of programs from the Knapp Entrepreneurship Center and the IIT Entrepreneurship Academy, including guest speaker presentations. Alex says that, as an entry-level entrepreneur, he learns a lot from these programs. “To be able to sit in a room and hear from CEOs — I see these people who are serial entrepreneurs in their 40s and 50s who have made million dollar companies, and I think it’s amazing to hear what they have to say. They have incredible insight.”

Most recently, Alex worked with Nik Rokop, managing director of IIT’s Entrepreneurship Academy and Knapp Entrepreneurship Center, to land an internship at 1871 in Chicago this semester.

Now, Alex and his partners at Five Three, Inc. are developing their next venture — Zeppla, Inc. — which will provide a platform for food truck vendors based on an idea from one of Five Three’s clients. The team has been able to fund Zeppla with their personal consulting income, while working on programming during academic breaks. “It’s just an excellent project that we’re working on as a team, developing software that these trucks will be using,” says Alex, “and whether or not it’s huge — as soon as a truck is willing to pay us to use our software, we will be happy with where we’ve gotten, to be honest.”

As Zeppla gets closer to launch, it’s clear that entrepreneurship will continue as a theme in Alex’s life. “My Zen moment is when I’m with my team, we’re brainstorming, and we’re actually working toward creating something. To me, saying  ‘Let’s build this’ — and to have the people to do it, has to be one of the neatest experiences ever.”

Alex has summarized his advice for new entrepreneurs before, but his overarching key to success is seizing opportunities. “I’m good at recognizing opportunities and trying to take as many of them as possible, and it hasn’t failed me yet,” he says.

Well, first you need to be invited! It is, after all, an honor. Should you accept, or as the comedian Groucho Marx famously said: “I don’t care to belong to any club that will have me as a member.”?

Already a member? Step up and be a leader! Reply to this message and we’ll put you on the list to join a meeting that will determine the leadership of the Sigma Nu Tau Chapter at IIT!

Any club will be as meaningful to you as you make it. You can be a silent member, basking in the glow of others’ achievements. Or, you can take a leadership role, and create a valuable experience for yourself and others. Take SNT for example. One way to honor entrepreneurs is to hold an annual event, recognizing the achievements of entrepreneurs. Which entrepreneurs? IIT students, faculty, staff, alumni and prospective students.

Who gets to choose these honorees, and what is the process? What are the criteria? Well, that’s what YOU, as a leader of this organization, can help determine. Imagine, not only having the opportunity to research these amazing people, but interview them, meet them, and be with them on the same stage?

OK, what do you think of joining now? Nominate yourself (see eligibility: http://sigmanutau.org/prospective-members/) or a friend/colleague.

Nik Rokop

Managing Director

IIT Entrepreneurship Academy

Last night, five different local startups officially launched at the 14th overall Technori “pitch” event.  The night began with an extremely motivational presentation by, Orlando Saez, a successful entrepreneur, alum of Illinois Institute of Technology (IIT) who is most well-known for being the Vice President of Boingo Wireless.  The main take-away garnered from him was that “seeking and expanding your diversity” is key to success.  In other words, the more people a person meets, and the more experiences a person encounters allows for an increased appetite of risk because you have that “safety net” to fall back on.  That “safety net” in this context means other entrepreneurs to seek out for help, because their aid and guidance can be invaluable and can expedite tasks that are causing difficulty.

Birdfeud was the first local startup to present, and are trying to solve a “lack of engagement” brands are having regarding their online presence.  Over 95% of those who “like” a facebook page never go back, so Birdfeud has created a social discussion tool, which allows brands to create live discussions that involve debatable questions.  Best of all, users can use Birdfeud without ever leaving Twitter (Facebook coming soon) through their use of API’s!

Matchist was presented next by serial entrepreneurs and Co-Founders Stella Fayman and Tim Jahn.  Matchist solves a problem that almost every entrepreneur has experienced; finding quality freelance development.  Using a very personalized and vetted screening, they are able to match entrepreneurs and developers in a harmonious way.  Furthermore, with their trusted, secured online payment system, grievances over payment issues become a non-factor.  With a pricing structure that falls wells below that in which recruiters would charge for this same service, it seems as though Matchist is destined for success!

Next up was a B2C photo sharing application called Mirrorgram.  This app was already a featured app in the app store, and already has over 200,000 downloads.  Parsecco followed and introduced the crowd to a new concept, “do what you love with people you trust.”  With a focus on creative workers combined with the skyrocketing increase in contingent-type jobs, Parsecco seems to have found a very niche market.  Lastly, a clothing manufacturing and design company united the crowd and evoked an emotional appeal as Stock Manufacturing and Design (SMD) emphasized their unique attribute of actually manufacturing clothes domestically.  Approximately, 98% of clothes are manufactured overseas, and through controlling the supply chain from start to finish combined with an  innovative e-commerce system, Stock has its eyes set on disrupting the status quo!

Ryan Kantor, 

IIT Chicago-Kent College of Law  

Chicago is quickly becoming a major player in the startup world. It’s mayor, Rahm Emanuel, has voiced his support and future hopes of growing the entrepreneurial community in Chicago into a “start-up hub in three years”.  Providing both legal services through the Entrepreneurial Law Clinic at Chicago-Kent College of Law, and business development services through the Knapp Entrepreneurship Center at the Stuart School of Business, the Illinois Institute of Technology (IIT) is contributing to this movement in a big way.  The IIT community has even secured an office inside of 1871, which has allowed local startups to receive even more help and support from the likes of Heather Harper and Nik Rokop.

Both Heather and Nik have been working closely with startups all over the city, and have been able to integrate student involvement within the process.  Heather for example, takes her clinic students to weekly office hours at 1871, where they give legal advice to the entrepreneurs at 1871.  Nik hosts entrepreneurial events including a recent one titled “First Ever: Meet-Up at 1871”.  This event was a huge success and not only allowed IIT students interested in entrepreneurship to learn about 1871, but also led to some potential job pairings between IIT students and startups working inside of 1871.

Just last year one of Nik’s entrepreneurs, an IIT graduate, Neil Gupta participated in the first ever Think Chicago.  A few months ago, Neil incorporated his company and received $25,000 from Catapult Chicago, one of  many incubators sprouting up here in the city.  Gupta decided to stay in Chicago rather than return to Silicon Valley, where he is originally from.  Like many young entrepreneurs, Neil has found that the Chicago weather is more conducive to staying inside and getting the job done than those warm, and distracting, Silicon Valley winters.

Neil and the many other entrepreneurs sticking it out in Chicago are evidence of Chicago’s rise to becoming a national hub for start-ups.  And IIT, has shown that it is willing to put its “money where it’s mouth is” by bringing,  passion, expertise and resources to help foster success in this cities entrepreneurs and their startup companies.

Ryan Kantor,

IIT Chicago-Kent College of Law

I’ve had a few people who come through 1871 and wonder what it’s like behind the glass wall. Is it just ping-pong all day, with free pizza and beer thrown in to mix things up? Are we all running around “collaborating” with each other while coding through the night working on the new-new thing?

The truth is, in some ways it’s a lot like any other work environment. Sure, the hours are a lot more flexible, and I don’t think anyone really does a startup unless they are truly passionate about the problems they are solving – but we’re all in here trying to thrill our clients, bring in more of them, and make most importantly make this one of best places to work in the country. Probably sounds a little bit like your day at work too?

What makes 1871 different than every other co-working or entrepreneurship facility is the people that are here. The entrepreneurs are incredibly gifted and the “community” (a catch-all word that includes the mentors, investors, and the rest of the ecosystem) is deep and incredibly generous with time and resources. You can easily walk through the lobby and brush shoulders with Stuart Larkins, Sam Yagan, Troy Henikoff, Gen Theirs, and Chuck Templeton. If you don’t recognize those names – go Google them. They will all say hi, ask about your business and see how they can help.

Being here, constantly interacting with top-caliber individuals forces me to raise my game to a whole different level, and the result can be incredibly valuable. Here’s an example of that in action:

Last week I was offered a last-second invitation to present to the Association of National Advertisers while they were meeting at 1871.  That’s awesome in-and-of-itself, exactly the type of value-add that only comes from being in the Midwest’s hottest innovation space. Because I was a last second inclusion, I didn’t have any time to put together a formal demo – and thanks to AV issues I wasn’t able to even show our visual demonstration. The challenge provided an opportunity, as I came up with a new spin on our value proposition in realtime. In front of the nodding audience, I told them:

“If the projector was working, I’d basically show you the perfect email – which is what we help our clients send. How do we know it’s perfect? Easy – we have open and conversion rates that are 2-5x what our clients usually send and they generate a lot more revenue than the industry standard. What makes it perfect – three key things:

1)   A professional, clean, visually appealing style

2)   Personalization and data driven optimization on every element of the email, from the time of day to the subject line and especially the content in the form of personalized product recommendations

3)   It’s generated automatically, so it doesn’t take hours or days to put together. You set it up one once, and forget about it while it generates revenue for you”

Lo and behold, the messaging resonated – these professional marketing leaders seemed to really get what I was saying. Next step, validate the marketing strategy with a number of fellow entrepreneurs and start updating the marketing collateral. Thankfully, 1871 is full of people who can help me with all of those things as well – so you can probably imagine what my next day in the office was like!

ABOUT THE AUTHOR:

Erik Severinghaus, Founder & CEO,
SimpleRelevance

Erik is a Chicago-based serial Entrepreneur, Intrapreneur, and business leader who is an avid mountain climber, water polo player, ironman triathlete, skier and adventure seeker. He is currently finishing up his MBA in Entrepreneurship at Kellogg School of Business.

As a student at the University of North Carolina, he was part of the founding team for iContact (a leader in email marketing), started and operated MainBrain, a K-12 education software infrastructure company, and helped run a small consulting firm.

After college, Erik took a consulting job at IBM and in six years rose to a position as a Partner in IBM’s IT Optimization Practice. Some of the highlights at IBM include bringing new products to market and acquiring a patent on fundamental cloud computing algorithm.

An entrepreneur at heart, Erik left IBM to return to building startups in April of 2011.

ABOUT SIMPLERELEVANCE:

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It’s simple. So simple, that within hours of receiving a list of customer emails we’ll have you armed with recommendations that will blow your mind.

When the MonkeyBars team first formed, we were just a few kids from IIT that wanted to throw a Hackathon because one of our partners, Nishanth Samala, made it sound cool and because it felt like we would be doing some good on campus. We stumbled through it and managed to get 25 participants after begging our rather large volunteer team to compete. We didn’t realize the impact this type of event would have in our community, until afterwards, when we learned that one of our teams learned how to code for Windows Mobile overnight and won first place in our category.

That was last March. Our team spent the last 7 months planning and pushing our latest Hackathon and the results have been astounding. Not only did we attract 60+ participants to compete for 24 hours, we heard of more teams learning new languages overnight and building amazing things, like an Unmanned Air Vehicle, an RPG productivity tool, and an iTunes app for events at IIT (https://www.facebook.com/Liveiitup?fref=ts). These are just a few examples of what students can do overnight with some passion and dedication to making their idea come to life.

In Chicago, it’s all about the business plans and the financial market. There isn’t a true space for technological innovators to thrive and grow organically as in other places, like the Bay area in California. MonkeyBars is taking our passion for innovation and learning to the next level by forming a company with the goal of developing the tech community in Chicago, starting with IIT. To accomplish this goal, we need a community.

If you would like to join us, please reach out to us at info@hackthemonkey.com or check out our facebook page: https://www.facebook.com/hackthemonkey

We’re cooking up some innovative plans for the Spring, so stay tuned!