Innovation flourished during the demo day for Penn State’s Summer Founders Program on Aug. 8 at Happy Valley LaunchBox powered by PNC Bank in State College.
“It’s been great watching the five teams work through the different challenges of starting and growing a business this summer,” said Lee Erickson, Chief Amplifier at Happy Valley LaunchBox.
A signature program of Invent Penn State, Summer Founders is a 13-week accelerator that provides teams $10,000 in funding, resources and mentorship to accelerate their ideas over the summer. Teams worked full time on their startup, attended weekly dinners and met regularly with advisers throughout the summer.
In order to accelerate the teams, Invent Penn State put together an advisory board made up of individuals with diverse industry and technical backgrounds and years of entrepreneurial experience. Their support, combined with the local entrepreneurs who were guests at weekly dinners, helped the teams move forward and tackle challenges.
Nearly forty startup teams applied for this year’s Summer Founders Program. The five that were selected came from a variety of fields, and included:
Below Summer Founders talk about their experiences:
Derek Barnett (’18, Biology), cofounder of Tutoration.
“It has been an incredible opportunity to work side-by-side with the other summer founders and the LaunchBox team. With the help of Summer Founders, Tutoration has developed from a fun hobby into a functioning and growing business. I cannot be happier with the skills, knowledge, and people I have met throughout this program,” he said.
Jack Mentch (Junior‑Electrical Engineering), cofounder of CastPak.
“The Summer Founders Program is an unparalleled opportunity. From the connections to mentors, to the advice from business leaders. Applying to SFP was the single most rewarding decision I have ever made—I am forever grateful to have been a part of it.”
Ben Cutler (Junior‑Industrial Engineering), cofounder of CastPak
“You don’t often get handed $10,000 and the opportunity to pursue your idea. Invent Penn State and the Happy Valley Launch Box have provided the resources for us to mature both as a company and as young entrepreneurs.”
Shevy Karbasi (Senior‑Biology), founder Moichor
“Being in the Summer Founders program gave us a novel opportunity to work on Moichor full time allowing us to grow our network, further develop our product and learn essential things along the way.”
Jobe Matula (Sophomore‑Marketing, World Campus), founder of The LiveFirst Company
“Through the Summer Founders Program, we have been able to establish a definite path to market, attract a network of advisors and add valuable members to the team. This experience has been invaluable and our successes would not have been possible without it.”
The 2018 Summer Founders Program is provided in partnership with Happy Valley LaunchBox. Funding is made possible through the donations of successful alumni entrepreneurs interested in supporting new student ventures.
The program does not take ownership or equity in participants’ businesses or nonprofits. All that’s asked is participants commit to working hard on their project for the summer and making an impact in their community.
The Summer Founders Program is open to any Penn State undergraduate or graduate student with an entrepreneurial endeavor. Solo founders are eligible, but teams of two or three people are preferred. Every team must have at least one member that is a Penn State student in good standing in order to be eligible. For more information about the program, visit invent.psu.edu/program/summer-founders.
For more information about LaunchBox visit LaunchBox.psu.edu.