{"id":93204,"date":"2021-05-24T12:46:41","date_gmt":"2021-05-24T17:46:41","guid":{"rendered":"https:\/\/uwm.edu\/news\/?p=93204"},"modified":"2021-05-27T11:12:12","modified_gmt":"2021-05-27T16:12:12","slug":"student-entrepreneurs-win-seed-funding-in-new-ventures-competition","status":"publish","type":"post","link":"https:\/\/uwm.edu\/news\/student-entrepreneurs-win-seed-funding-in-new-ventures-competition\/","title":{"rendered":"Student entrepreneurs win seed funding in New Ventures competition"},"content":{"rendered":"<p>Amelia Faist doesn\u2019t just want to market hand tools \u2013 she wants to promote confidence and tool literacy for women. Faist, an MBA student at 51ÁÔÆæ, is designing a multi-use tool that will meet the ergonomic needs of the female DIYer, while also providing a web-based video library and app.<\/p>\n<p>The idea for her business came from the realization that she was relying on others, mostly men, to assist with her own home improvement projects. When she undertook the work herself, she said, she had difficulty wielding heavy tools that were uncomfortable to hold.<\/p>\n<p>\u201cI see this idea as a means to independence for women like me,\u201d she said. \u201cIt will replace that unsatisfactory hardware store experience with an empowering and informative process.\u201d<\/p>\n<p>Faist recently took home half of the $20,000 prize money in this year\u2019s New Ventures Business Plan Competition, hosted by 51ÁÔÆæ\u2019s Lubar School of Business, giving her a head start on building her business, Piper Tool Co.<\/p>\n<p>The competition, in its 14<sup>th<\/sup> year, is made possible by longtime supporters Bill and Sharon La Macchia. Bill La Macchia is the founder of Mark Travel Corporation and Trisept Solutions, global leaders in travel services and travel technology (both recently merged with Apple Leisure Group).<\/p>\n<p>Faist\u2019s prototype multi-tool handle is designed to function effectively in both lever and twisting motions. In addition, her company will offer a video library and quick-access app for lessons on using tools and making common repairs. \u201cIt will be a collection of fun, beautiful, easy-to-follow tutorials made by other women who are authorities in the home repair and handywork spaces,\u201d she said.<\/p>\n<p>Three others placed in the competition, which is open to students and recent alumni from any discipline.<\/p>\n<h3>Second prize: $5,000<\/h3>\n<p>MBA student Ross Younger\u2019s business plan for a company offering immersive virtual experiences took shape after his previous business stalled because of restrictions during the coronavirus pandemic.<\/p>\n<figure id=\"attachment_93205\" aria-describedby=\"caption-attachment-93205\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-93205\" src=\"https:\/\/uwm.edu\/news\/wp-content\/uploads\/sites\/41\/2021\/05\/ventures250x500-Ross-Younger-51ÁÔÆæ-Entrepreneur-Innovation.jpg\" alt=\"\" width=\"250\" height=\"300\" \/><figcaption id=\"caption-attachment-93205\" class=\"wp-caption-text\">Ross Younger<\/figcaption><\/figure>\n<p>His firm, Advantage Point Virtual Production Company, is creating professional digital content that can be viewed in 360 degrees and navigated online \u201cas if the viewer were there,\u201d he said. Competitors are mostly targeted toward marketing residential real estate, he said. Using a platform that allows clients to customize the embedded features like logos and on-screen contact information, he can appeal to other businesses.<\/p>\n<p>\u201cI take it beyond this core concept by adding interactive elements, meaning the product doubles as both a tour of a physical space and a presentation tool,\u201d Younger said.<\/p>\n<h3>Third prize (tie): $2,500 each<\/h3>\n<figure id=\"attachment_93207\" aria-describedby=\"caption-attachment-93207\" style=\"width: 250px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-93207\" src=\"https:\/\/uwm.edu\/news\/wp-content\/uploads\/sites\/41\/2021\/05\/ventures250x300-Kai.jpg\" alt=\"\" width=\"250\" height=\"300\" \/><figcaption id=\"caption-attachment-93207\" class=\"wp-caption-text\">Kai Kishpaugh<\/figcaption><\/figure>\n<p>HelpMeFind\u00a0is a mobile app envisioned by\u00a0Kai Kishpaugh, a junior in computer science. The product will map the locations of bricks-and-mortar stores, college campuses, airports and other commercial facilities so that customers can find products and services.<\/p>\n<p>Dream Vallie\u00a0is a personal\/professional development company being developed by\u00a0Loren Nelson, a senior in marketing, that will help women find their passions through life coaching, business development programs and transformational events.<\/p>\n<figure id=\"attachment_93208\" aria-describedby=\"caption-attachment-93208\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-93208\" src=\"https:\/\/uwm.edu\/news\/wp-content\/uploads\/sites\/41\/2021\/05\/ventures250x300-Loren-Nelson.png\" alt=\"\" width=\"250\" height=\"300\" \/><figcaption id=\"caption-attachment-93208\" class=\"wp-caption-text\">Loren Nelson<\/figcaption><\/figure>\n<p>Three teams won honorable mentions, splitting another $1,500:<\/p>\n<ul>\n<li>Abbott Communications and Media (Fiona Abbott, alumna)<\/li>\n<li>Afya Teas N Apothecary (Cheyenne McGlaston, alumna)<\/li>\n<li>LOL MKE (Josh Segal, MBA student)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Winners of the New Ventures Business Plan Competition hosted by 51ÁÔÆæ\u2019s Lubar School of Business include a tool handle to aid female do-it-yourselfers, a 360-degree-view digital product and a company that helps women find their path in life.<\/p>\n","protected":false},"author":836,"featured_media":93211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","uwm_wg_additional_authors":[]},"categories":[174],"tags":[],"section":[246,259],"display_categories":[115,116],"related-coverage":[267],"uwmnews-feed":[162],"class_list":["post-93204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","section-business-world-affairs","section-education","display_categories-top-story-secondary","display_categories-top-story-section","related-coverage-entrepreneurship","uwmnews-feed-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Student entrepreneurs win seed funding in New Ventures competition<\/title>\n<meta name=\"description\" content=\"Winners of the New 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