Concordia University nurturing budding entrepreneurs
The Concordia University (CU) School of Business Administration, under the leadership of Dr. Daniel Sem, introduced its inaugural CU Launch program last fall, inviting students to pitch their original business ideas (a la the reality television show “Shark Tank”) and compete for $8,000 in seed money.
Students learned about business basics beyond the classroom through a series of free workshops leading up to the culminating competition and received personalized instruction and mentorship from Dr. Sem–-an experienced entrepreneur himself–-and other professors in the business program.
The $5,000 grand prize was awarded to a student who designed a prototype of a self-charging lamp with specialized phosphorescent properties. Runners-up were encouraged to further their business development with $1,000 awards.
Concordia University expanded the successful program, extending the offer to the communities surrounding the university’s accelerated learning facilities in Madison, Waukesha, Appleton, and Mequon. The events drew significant interest, with over 70 participant registrations. Participants who continue with the program will be eligible to compete next fall at the second annual CU Launch for $1,000 in seed funding alongside Concordia students. Teams from each group will be judged by separate panels of expert judges, typically business leaders from each community. Then, the winners from each center will go on to compete for an additional $4,000 in seed funds in the regional competition.
“We’ve had a tremendous response surrounding these events, especially considering that it was our first year with the program,” said Dr. Sem. “The program demonstrates the innovation and entrepreneurial spirit that exists among our students and within our communities. With a little support, individuals such as these can rise to the occasion and produce some really exciting, practical, and impactful solutions for others. It is all part of our mission of service in the world, and it is also great fun!”