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Clarkson University Student Entrepreneurs Win $7,000 in Raymond von Dran IDEA Awards Competition at Syracuse University
[A photograph for media use is available at http://www.clarkson.edu/news/photos/ideaawards2012.jpg .]
Two teams of Clarkson University student entrepreneurs recently won funding in Syracuse University’s Raymond von Dran IDEA Awards competition.
Eleven Clarkson student teams competed for more than $150,000 in seed funding at the event, where Clarkson served as one of five angel-level sponsors.
Innovative Delivery Systems (IDS), a company formed by first-year School of Business students enrolled in the Introduction to Business Innovation and Entrepreneurship course was awarded $5,000.
IDS has created a Web app that allows spectators in stadiums and arenas to order concessions on their mobile device for delivery to their seats.
Freshman financial information analysis major and honors program student Andrew J. Wegner of Farmington, N.Y., and freshman business studies major Dietrich Diehl of Clarence Center, N.Y., and several other students, who were founding members of the company, will continue to develop IDS at the end of this semester.
Cliquer, created by junior innovation and entrepreneurship major Joshua H. Langtry of Beaver Dams, N.Y., was awarded $2,000 for his idea, which offers high school students a simple and more social way to transition from high school into college.
Funding awarded to the student companies will be used for start-up expenses, including salaries of company owners and employees, rental space, marketing, legal, web sites, and proof-of-concept development.
The event provided more than just startup capital for winning teams. “Participation in the event was valuable not only for our winning teams, but also for those who competed for the first time,” says Marc Compeau, director of Clarkson University’s Reh Center for Entrepreneurship. “In fact, seven of our teams were engineering students; and for them to get excited about moving their innovations to market will have a lasting impact across campus.”
The competition is part of the Raymond von Dran Innovative and Disruptive Entrepreneurship Accelerator (IDEA), which has provided funding to help student entrepreneurs launch their ventures since 2009.
“The judges were impressed again this year with the quality of business ideas, talent, and excitement in our student entrepreneurs,” said Bruce Kingma associate provost for entrepreneurship and innovation at Syracuse University. “The number of applications tripled from last year, so it was very competitive to make it to the final pitch round. We hope that even more students know about these competitions next year so that we continue to grow as a resource for student entrepreneurs.”
Clarkson University launches leaders into the global economy. One in five alumni already leads as a CEO, VP or equivalent senior executive of a company. Located just outside the Adirondack Park in Potsdam, N.Y., Clarkson is a nationally recognized research university for undergraduates with select graduate programs in signature areas of academic excellence directed toward the world's pressing issues. Through 50 rigorous programs of study in engineering, business, arts, sciences and health sciences, the entire learning-living community spans boundaries across disciplines, nations and cultures to build powers of observation, challenge the status quo, and connect discovery and engineering innovation with enterprise.
Photo caption: Two teams of Clarkson University student entrepreneurs recently won funding in Syracuse University’s Raymond von Dran IDEA Awards competition. Joshua Langtry (left) was awarded $2,000 for his idea. Andrew Wegner (center) and Dietrich Diehl Innovative were awarded $5,000 for their company’s idea.