Entrepreneurs receive coaching
WEST CHESTER » Call it a boot camp for entrepreneurs.
Techstars Startup Weekend, held at West Chester University June 1 to 3, gave aspiring entrepreneurs 54 hours to take an idea from concept to creation.
The three-day event was the result of a collaborative partnership between the university, the Greater West Chester Chamber of Commerce and the Chester County Economic Development Council, in an effort to empower entrepreneurs who were interested in learning the basics of launching successful businesses and start-up companies.
During the event, participants had the chance to meet with local business leaders for guidance on the right steps to bring their startup business ideas into fruition.
Led entirely by volunteers, the weekend featured 25 coaches, five judges and three speakers — entrepreneurs or people in the investment community who invest in entrepreneurs.
According to Patricia Diggin of West Chester University — and team leader of the event — entrepreneur-in-residence Chris Heivly introduced the university to the global organization Techstars Startup Weekend. Heivly is a graduate of the school and cofounder of MapQuest.
“It’s a really great way to bring visibility out here to what we do in Chester County. As a university, here at the Dr. Edwin Cottrell Entrepreneurial Leadership Center, we are really passionate about bringing together community members, with students doing something collaboratively,” Diggin said. “That is one of the ways we believe you fuel the spirit of entrepreneurism, which is so important to getting businesses started here in Chester County.”
On the first evening of the three-day event, 25 participants pitched their business concepts to the coaches, who then selected seven ideas for further development. Teams were formed for each concept and the participants spent the next 50 hours meeting with coaches and working on the ideas.
Final presentations were made June 3. A panel of five judges evaluated the final presentations and provided additional feedback to the teams. The teams were evaluated on three main criteria: validation of problem, solution and design and business model.
After the final presentations and review, three concepts were chosen by the judges:
First place: Work Out On Wheels, a mobile gym that comes directly to your home complete with a Red Cross Certified Driver/Personal Trainer.
Second place: InstantFund, a web-based platform that serves as an intermediary to speed up the refund process for online purchases.
Third place: End of Life Wishes, a website that has all the information needed to manage the death of loved ones including counseling services, burial options and estate management.
Techstar facilitator Roger Osorio traveled from New York to help host the three-day event. He said he enjoys helping people learn the process of taking an idea and making it a reality.
“It’s not just about entrepreneurs. It’s really about anyone who wants to learn how to take an idea from concept to creation. We’ve all been in that spot where we’ve talked about an idea but haven’t done anything about it. Part of the reason is we maybe don’t have a process. Through this event, you’re going to learn that process,” Osorio said.
Local entrepreneur Leo Daiuto served as one of the coaches for the event. He is entrepreneur-in-residence at the Rev-Up Center at Penn State Great Valley, and works with local people looking to start companies. He noted that having two full days to come up with a business idea and validate its need in the marketplace was beneficial for attendees.
“I really enjoy working with people who are looking to start businesses. I help give them information and specific pitfalls that I fell in so maybe they won’t. Most of entrepreneurship is execution. Helping people go through the process in incredibly valuable,” Daiuto said.
College student Tyler Kang heard about Techstars through a friend and was among the participants of the event. He recently changed his major to business management and entrepreneurship.
“As soon as I heard ‘startup’ I was interested. I thought this would be a good way to figure out what my next steps should be and how to turn what I’m thinking into something real,” Kang said.
According to Nancy Kunkle of the Chester County Economic Development Council, the inaugural Startup Weekend gave aspiring entrepreneurs a venue to speak with experts who they wouldn’t normally have the opportunity to meet.
“It’s a great event because there are so many ideas out there. A lot of people have ideas but aren’t ready to quit their day jobs. They don’t know if their idea can really become a business,” she said. “It’s allowing the community of people who are entrepreneurs in their heart to take their idea into a place where mentors and coaches can help them work on it.”
Kunkle added that the event will raise awareness that Chester County, “is a community that cultivates startups.”
“It’s also a great way to raise up what partners are available in the community to help you. You don’t have to go to New York, or even Philadelphia to have an ecosystem of support around you,” she added.