Dingman Center for Entrepreneurship

Oct 25 2013

Worth Reading 10/25/13

This week we were busy receiving applications for our various programs. For Pitch Dingman Competition, it is still not too late to apply! Register here to win $2,000 seed funding for your business idea by October 27. For Cupid’s Cup,we received impressive applications from Michigan, Massachusetts, and many states in between. Do you have what it take to conquer the toughest business competition and win $75,000? Visit www.cupidscup.com for more detail information and get started!

Now, let’s check out this week’s Worth Reading.

People know funding plays an important role for startups, but do you know how where these funds go to? Check out this infographic and learn about How Funding Works.
Successful entrepreneurs share common traits: They are confident, easy to approach, and most importantly, likeable. Read 6 Habits of Remarkably Likeable People and grasp useful tips.
The art of building credibility is always essential for startups, check out 3 Words That Create Instant Credibility and learn useful concept.
Long-live brands have explicit brand personalities. They have clear visions and provide values to customers accordingly. Read The 10 Questions Every Brand Should Ask To Ensure It’s Simple Enough and make sure the one you build is on the right track.
Office hacks are necessary, but often time they are being ignored. Check out the 25 Office Hacks You Need To Know and stop worrying about your office equipment shortage.

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Tagged Brand, business competition, credibility, Cupid's Cup, Dingman Center for Entrepreneurship, funding, office equipment, success

Oct 23 2013

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Cupid’s Cup Past Winners: Where are they now?

The Dingman Center is now receiving applications for Cupid’s Cup, the nation’s toughest student business competition, chaired by Founder & CEO of Under Armour, Kevin Plank. Unlike business plan competitions, Cupid’s Cup awards student entrepreneurs running a legal business entity that is generating revenue or that has proven traction. For the full criteria and to see last year’s finalists, visit www.cupidscup.com.

This year marks the competition’s ninth year. Over the course of the previous eight years, the Cupid’s Cup winners have not only stayed in business, but have continued to thrive. Let’s take a look back at our past winners.

Earth Starter (2013)
Earth Starter is the creator of the Nourishmat, a product built to accelerate plant growth yields and simplify the growing process. Since winning Cupid’s Cup this past year, Earth Starter has been featured all over mainstream media in publications such as Fast Company, NPR, Yahoo! and Venture Beat. The company has received more than $130K in additional revenue and has sales across 30 states and 15 countries worldwide.

Reed Street Productions (2012)
Read Street Productions aims to create events that blend genres, blur the lines of reality, and are simply fun. The company’s signature event, ‘Run For Your Lives’ is a 5K obstacle course race that tests your speed, strength and endurance through miles of man-made and natural obstacles—all while being chased by hungry, merciless zombies. This year, zombie runs are planned in 25 cities across the United States. The company has also successfully secured sponsorships with Microsoft, Subaru, Project Sole, and XIOS.
http://reedstreetproductions.com/
http://www.runforyourlives.com/

MyFridgeRental.com (2011) MFR-template-2
MyFridgeRental provides college students in the Mid-Atlantic region with convenient and affordable refrigeration rental services. During the two years since winning Cupid’s Cup, the company has made stellar growth in sales volumes by more than 30% each year. Now, the company provides more than 2,500 rental services in more than 15 colleges.
http://myfridgerental.com/

Social Growth Technologies (2010)
Social Growth Technologies is the single channel that delivers high performance online advertising and virtual currency monetization in the social gaming and ecommerce environments. Since Cupid’s Cup, the business won the CJYou Rookie of the Year Award for Performance Marketing Excellence and was named HCEDA’s business of the year. Major clients include Coca-Cola, eBay, and DELL.
http://www.socialgrowthtechnologies.com/
https://www.facebook.com/SocialGrowthTechnologies
https://twitter.com/socialingot

College Media Group (2009) CollegeMagazine_Logo-FIN
The company publshes College Magazine, an online uncensored source for everything that college students want to know. The site features articles ranging from academic advice, student life, NCAA sports news, sex questions and celebrity news. In 2011, the magazine reached 200,000 students at 14 universities in Washington D.C., Maryland, Philadelphia and Florida. Today, the company has more than 4,000 followers on Facebook and Twitter.
https://www.facebook.com/collegemag
http://www.collegemagazine.com/
https://twitter.com/CollegeMag

Anaptyx (2008)
anaptyx_logo Anaptyx provides WiFi internet access to apartment communities and municipalities through energy efficient technology. Since 2011, the company has expanded its services to Boston, covering areas such as Boston Common and Greenway Parks.
http://anaptyx.com/

Goozex (2007)
Goozex is an online trading company that allows customers to trade video games and movies in the United States, Canada, and Bermuda. The business idea came from Robert H. Smith MBA Alumnus, Jon Dugan, who was unsatisfied with the low price for exchanging second hand video games. Since the business was established, the company has grown rapidly. In 2008, more than 160,000 games were being traded on the site. In 2012, Goozex was privately acquired by a holding company, Bay Acquisition Corp. for an undisclosed amount. Goozex is the first Cupid’s winner to be acquired by another company.
http://www.goozex.com/trading/asp/welcome.asp
https://www.facebook.com/goozex
https://twitter.com/goozex

North Star Games (2006)
NSG_pink_and_blue_logo_square North Start Games is an innovative board games designed by former Smith MBA Alumnus, Dominic Crapuchettes. Since winning Cupid’s Cup, the company has won a series of awards, including Wits & Wagers being included on many ‘Best Games of Year’ lists in 2007. The game was also awarded as the ‘Best New Party Game’ by Games Magazine. Time Magazine profiled Wits & Wagers as a “Lively trivia game” and highlighted it as a board game ”beyond Monopoly”.
http://northstargames.com/North_Star_Games/Home.html
https://www.facebook.com/northstargames
https://twitter.com/NorthStarGames

Do you think your company has what it takes to join this elite group of Cupid’s Cup winners? Submit your application by January 6, 2014 and we’ll see you on Game Day.

Oct 18 2013

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Worth Reading

Worth Reading 10/18/13

This week the Dingman Center team welcomed the first cohort of Fearless Founders! We hosted a kick-off event for the group where they attended their first workshop and celebrated in the Dingman Center bullpen. Read our last post “Introducing the Fearless Founders” for details on the 22 accepted companies.
We’ve also begun receiving applications for Cupid’s Cup! Check out cupidscup.com for details on this year’s bigger competition. Not sure if you’re ready to apply? Hit the “Apply Later” button on cupidscup.com and we’ll invite you to a webinar on November 6 to answer all your questions.

FF-16Oct13-2

Now, let’s enjoy this week’s Worth Reading:

Digital marketing is getting more and more crucial, especially for startups with small marketing budgets. However, the truth is lots of CMOs still don’t understand how it works. Check out the infographic: Are CMOs ready for digital marketing?
To be a successful entrepreneur, you need to learn how to be a good boss. Read The 10 Best Pointy-Haired Boss Moments From ‘Dailbert’ and make sure you don`t make the same mistakes.
We’ve all met these people: They are likable, welcoming, and seem to know everyone. By speaking with them for 15 minutes, you already feel like you have known each others for centuries. Who are they? They are connectors. Check out Forget Networking. How to Be a Connector and learn a few tips.
Many entrepreneurs disregard the traditional business plan. They think business plans are static and unrealistic. But, there is The Business Plan That Always Works. Check out the article and learn the secrets why.
Every idea has the potential to become a viable business. Read the story of How ’Nightmare’ Producer Tim Haskell Turned NYC’s First Haunted House Into a Year-Round Business and get inspired.

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Tagged business idea, business plan, Connector, digital marketing, dingman center, entrepreneur, entrepreneurship, Fearless Founders, infographic, Networking, startup

Oct 14 2013

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Introducing The Fearless Founders

FF-16Oct13-2

The Fearless Founders program helps prepare student entrepreneurs from idea generation to business launch. The program demystifies the venture creation process by dividing it into three stages: Idea Shell, Hatch, and Terp Startup, each of which with its own deliverables. Powered by the Dingman Center for Entrepreneurship in partnership with the Maryland Technology Enterprise Institute (Mtech), the program will offer students with necessary resources to meet their business requirements.

In this first Idea Shell cohort, the goal for the teams is to identify the value proposition through market research and the customer discovery process. They will participate in a series of workshops over the course of seven weeks and learn the necessary skills to refine their business and better understand their customers. In the final week, each team will be required to present on their progress and will receive $500 dollars in seed funding.

This fall, we were impressed by the quality and number of applications, but ultimately selected 22 teams for the first Idea Shell cohort. Congratulations to all the teams!

417 App Studios
Ghedalia, Gold-Pastor Major: Mechanical Engineering
Zach Matz Major: Kinesiology
Ed Luo Major: Finance

Advanced Heliostats
Andrew Oles Major: Mechanical Engineering

Amlith
Carson, Myers Major: Computer Engineering
Daniel Bolton Major: Mechanical Engineering
Manjur Ahmed Major: Electrical Engineering

Bacon Barbell
Toni, Zhang Major: Marketing and Neurobiology

Casco Tech
Pedro Henrique, Santos Carvalho Major: Civil Engineering
Felipe Israel, Camargo Pereira Major: Computer Science

Color Changing Soap
Erica, Long Major: MBA
Laura, Long Major: MBA

Ethical Clothing
Chetan, Singh Major: Economics

Food Recovery Network
Ben Simon Major: Government and Politics
Evan Lutz Major: Business

Grid-Works-Inc
Thomas, Luginbill Major: Entrepreneurship

GYM SUPREME LLC
Obidi, Orakwusi Major: Government and politics
Kachi Ilochonowu Major: Economics

Imaginex
Eric, Mintzer Major: Business Management
Anthony, Ingelido

Leagueflow
Aaron, Schwartz Major: Economics

Live Unchained
Kathryn, Buford Major: Sociology
Gary Fong

MyLevelLearning
Meir, Snyder Major: Entrepreneurial Operations

Parallel Tracks
Daniel, Noskin Major: Business Management and Marketing

PoliRoots
Mohsen, Farshneshani Major: Government and Politics
Mohsen Farshneshani, Lamar Rogers

Prasidiux, LLC
Kevin, Diehn Major: Chemical Engineering
Bani Cipriano Major: Chemical Engineering

Rafiki Beads
Kikanae, Punyua Major: Economics
Mackenzie Burnett Major: Government and Politics

Sweet Buds
Allan, Nicholas Major: Engineering and Business
Erica Yingling Major: Biology
Ningwei Li Major: Finance and Economics
Peter Weng Major: Biology

The Island Pop Shop
Tenaj, Ferguson Major: Nutrition and Food Science

VentureBoard
Scott, Block Major: Information Systems
Justin, Searles

We wish all the participating teams good luck. We will keep our readers updated on their progress in future blog posts. Stay tuned!

Tagged dingman center, entrepreneurs, Fearless Founders, incubator, Mtech, student

Oct 04 2013

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Worth Reading 10/4/13

The Dingman Center always embraces new and different perspectives. This week we had an old friend hang out in our office. Sean Virgile, a current PhD student at UMD, used to come to the Dingman for advising. This week he began to mentoring a group of MBA students. Sean successfully founded Diagnostic anSERS and competed in a series of business competitions including Cupid’s Cup. Thank you for paying it forward, Sean!

Screen Shot 2013-10-04 at 10.39.44 AM

Now, let`s check out this week’s Worth Reading.

The government shut down exemplified the most inappropriate reactions when faced with doubters. Check out the Leadership Lessons From a Dysfunctional Congress and avoid making the same mistakes in your business.
When emailing with investors, you do not want to make any mistakes. Tips? Details matter. Find out the Dos and Don’ts about emailing with your investors.
One way to start a company without creating a new product is by consulting. Check out the Three Tips to Start a Consulting Business and become a consultant now.
Everyone has his or her own roadblock, which hinders him/her from taking the first crucial step to start a business. Read Starting a Business: The Idea Phase to realize how and what to do to be an entrepreneur. Starting a business might not be as hard as you think.
Check out some of the Innovations with the Coolest Designs. See how simple ideas turned out to be destructive technologies.

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Sep 27 2013

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Worth Reading

Worth Reading 9/27/13

This week we released our latest newsletter; take a look for updates on our connected community of remarkable entrepreneurs.

Now check out what’s worth reading.

Shooting a new movie is like starting a new business, both of which require lots of collaborating. Check out this article and get insights from “House Of Cards” Producer Dana On What Hollywood Can Teach Startups About Collaboration.
There are several reasons Mexican companies are getting a lot of attention. Read through the 7 Reasons Investors Are Looking South.
What does it take to become an entrepreneur? Here are the simple Tips.
Twitter’s Jack Dorsey Aims To Export Silicon Valley-Style Entrepreneurship To Detroit. Can he achieve it? Read the article to find out.
Richard Branson has been known as a successful and creative entrepreneur. His charisma, vision, and boldness set him apart from other competitors. Read his Five Top Tips To Starting A Successful Business and apply in life.

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Sep 20 2013

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Worth Reading

Worth Reading 9/20/13

This week we attended the First Look Fair, one of the longest running involvement traditions at UMD, to introduce new students to the Dingman Center. We were lucky to have a booth next to our friends at the Academy of Innovation & Entrepreneurship who joined is in celebrating the new campus-wide Innovation Fridays!

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Now, check out what we think is worth reading this week.

Many people think of Silicon Valley as the main pipeline for entrepreneurs, but there are other states that deserve more of your attention. Take a look at the Spreading the love of Silicon Valley and find out what they are.
Everyone has equal 24 hours in a day, but why are some people more productive and efficient? Learn from the smartest people by reading The Habits of the World’s Smartest People and start to work smarter now.
Busy entrepreneurs need to deal with hundreds of challenges every day. Staying efficient and not forgetting things is critical. Read How To Take Exceptional Notes and Be Productive with Paper and start to get more organized.
Can entrepreneurs be fostered through curriculum? Or they are born with special entrepreneurial genes? Read Are entrepreneurs born or made? and form your own opinion.

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Tagged AIE, dingman center, entrepreneur, entrepreneurship, First Look Fair, UMD, University of Maryland, worth reading

Sep 12 2013

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Dog Days Are Over: Part 2

Always iterate. Pivot when needed. Listen to your customers. At the Dingman Center, we teach these principles every day to students. And, we practice what we preach. In Elana Fine’s latest blog post, she let you know that we spent the summer examining our signature programs to make sure we’re delivering the strongest portfolio of programs, services and products possible. Some programs got a name change, some a curriculum change but all were examined to make sure we’re delivering on our mission to build a remarkable community of entrepreneurs.

Innovation Fridays – For years, the Dingman Center has been dedicated to inspiring Fearless Ideas through our weekly Pitch Dingman sessions. Over the past year, we have been collaborating with several campus groups to transition Pitch Dingman to campus-wide Innovation Fridays sessions. Only the name has changed–the process remains the same. By joining our colleagues we are able to reach more students. Read here for all the details of this expanded commitment to student entrepreneurs. http://ter.ps/39w.

Fearless Founders – As we continue our movement to focus more on the people in our community we’re offering V 2.0 of our EnTERPreneur Academy. A cohort approach to guiding students from idea to launch that leverages tenets of the lean startup methodology, including customer discovery and developing an MVP. The new curriculum focuses more on equipping the founders and more closely resonates with the students we serve.

AdVENTURE Challenge: China – Amazing Race meets Shark Tank this May in Hong Kong and Beijing. A more immersive and impactful China Business Plan Competition where MBA students will earn points visiting startups, multinational corporations and cultural sites. The challenge will culminate with a final competition at Peking University. Students compete for cash prizes alongside peers from Smith, Peking, other Chinese business schools, and Technion-Israel Institute of Technology. In an expanded effort to teach the students the complexities of global business, they will work on cross-cultural teams to compete in the competition.

Dingman Center Angels – the region’s most active angel network does it again. This year we will set up shop at partner incubators and workspaces like Uber Office, 1776, Acceleprise, Bethesda Green and ETC to increase access for regional companies.

The Pitch – We have developed a new communications vehicle, The Pitch. This email digest is sent bi-weekly on Tuesdays to communicate to our audience the Dingman Center’s breadth of activities and leadership throughout the region.

While it may seem much has changed, our commitment to discovering, equipping, connecting and celebrating entrepreneurs remains the same. If you’re interested in joining our community or participating in any of these programs, send us an email at dingman@rhsmith.umd.edu. To stay connected with the Dingman Center follow us on Twitter and like our Facebook page.

Tagged AdVENTURE Challenge, China, Dingman Center Angels, Dingman Center for Entrepreneurship, entrepreneurship, Fearless Founders, Innovation Fridays

Sep 11 2013

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Dog Days are Over: Part 1

How is it that the first day of school always feels the same? No matter how old you are or where you are from, you know what I mean. You walk outside and the air feels a bit crisper than the day before. It might be 90 degrees, but the morning always brings a chill and a nostalgic reminder of the annual nervous excitement a new school year brings. And yet, despite new classes, new clothes, new friends and, if you are lucky a new Trapper Keeper, when you walk in the building the energy is familiar and reassuring.

At the Dingman Center, we too are greeting the new school year with nervous excitement. We took advantage of the quiet dog days in Van Munching to revamp and reenergize our programs, team and brand. As we reopen our doors, our community will see an office space that reflects our warmth and creativity, experience programs that reflect our collaborative nature and entrepreneurial spirit and new team members that share our passion and commitment.

But, like the nostalgic feeling of the first day of school, the Dingman Center is always the Dingman Center. Entrepreneurship may come in and out of style like skinny jeans, but the Dingman Center and our commitment to entrepreneurs has remained constant for 27 years. Our players aren’t always the same, our programs grow and change over time, but last week, on our first day, the energy in the Dingman Center was familiar and reassuring. It reminded me why we worked so hard all summer to bring you the new and improved Dingman Center we promised last spring.

So what did we do this summer?

New (ish) Office
Our office space reflects the culture of our community of remarkable entrepreneurs. Our walls represent quotes that move us and inspire us. Framed words reflect our vocabulary. Fresh whiteboard paint awaits your Fearless Ideas. Toys show our playfulness and sense of humor.

New Team Members
Two of this year’s key strategic initiatives are to strengthen our community and to position our programs at the intersection of curriculum, practice and research. To help us achieve this vision, we have made two key hires that will build stronger, ongoing relationships between our external community and our faculty partners.

Adam Van Wagner ‘11, Community & Venture Programs Coordinator – Co-Founder of 2011 Cupid’s Cup winner MyFridgeRental.com who will facilitate connections between all of our constituencies.

Alyse Carter ‘11, Dingman Center & M&O Coordinator- a thoughtful and hardworking Terp who will support Center operations and coordinate efforts with entrepreneurship faculty.

Become part of our connected community of entrepreneurs.
Our team and our programs have always been half of our story. The spirit and success of the Dingman Center relies on you. Stop by our offices, follow us on Facebook, and Twitter, attend our events and refer your friends and colleagues.

The chill is in the air…don’t be nervous..be excited and Be Fearless.

-Elana

Elana Fine (@elanafine) was appointed Managing Director of the Dingman Center in July 2012, after joining the team in 2010 as Director of Venture Investments. As Managing Director, Elana’s primary focus is leading the Dingman Center in support of its mission and strategic plan. Key responsibilities include oversight of our student venture incubator, Dingman Center Angels investor network, business competitions, and technology commercialization efforts. Elana also develops and maintains relationships with donors, board members, EIRs, the Smith School community and other campus and regional partners. She is also serving as co-chair of the Dean’s Task Force on Entrepreneurship and Innovation and will be working with our Academic Director to expand the Dingman Center’s research activities and curriculum development.

Tagged Adam VanWagner, Alyse Carter, dingman center, Dingman Center for Entrepreneurship, Dog Days, elana fine, entrepreneurship, Summer