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CBA Offers Business Plan Coaching

Students interested in entrepreneurship—including those who plan to participate in the Innovation Challenge—are invited to attend business-plan coaching sessions put on by the CSULB College of Business Administration.

At 7 p.m. each Tuesday in CBA-139A, a group of MBA alumni called the Founders will hold coaching sessions about business plan writing in particular and starting a business in general. Those who have questions about their innovation, business plan, or how to start a business are invited to attend.

The Founders are comprised of Brian Budzinski, Dean Heiss, JR Jimenez, and Naki Patetefa. Budzinski received his undergraduate degree in aerospace engineering from Purdue University and works as an engineering manager at The Boeing Co. With an undergraduate degree in aeronautical science with a minor in aviation safety from Embry-Riddle Aeronautical University, Heiss works as a senior project manager at Southern California Edison. Jimenez holds an undergraduate degree in psychology from University of California, Irvine and is a marketing and event manager for Entrepreneur Media. Patetefa, who has a CSULB undergraduate degree in finance, real estate, and law, works as a customer support manager at Ultimate Software.

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Innovation Challenge Kicks Off 7th Season

Innovation Challenge snapshotStartups are an important vehicle for U.S. economic growth, accounting for half of all new jobs created. At CSULB, students have a unique opportunity to gain real-world experience in starting a business through the Innovation Challenge, an annual contest that provides the winning entrepreneurial team with $50,000 in cash and services to get started.

Now in its seventh year, the Innovation Challenge is supported by the CSULB Colleges of the Arts, Business Administration, and Engineering, along with industry leaders with varied high-level business experience. The contest is open to all students. Continue reading “Innovation Challenge Kicks Off 7th Season”

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Mentors Are Key in Helping Student Entrepreneurs Succeed

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Lux Nova won the 2015 Innovation Challenge with its idea for a 3D bone printer.

Student teams don’t make it to the CSULB Innovation Challenge finals alone. To get through the contest, they’re matched with mentors who help them think through ideas and submit their all-important business plans.

A joint project of the colleges of Engineering, Business Administration, and the Arts, the Innovation Challenge rewards winning teams with $10,000 in cash and $40,000 in financial, marketing, legal, and other services. The Innovation Challenge is designed to inspire entrepreneurship and produce one commercialization success each year.

Students who participate receive instruction on developing a business plan and help in finding fellow team members. But it’s the advice from mentors that’s most valuable. Continue reading “Mentors Are Key in Helping Student Entrepreneurs Succeed”

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Step 1 to Startup Success: Build a Winning Team

icmeetupThe Innovation Challenge is intended to give students real-world experience in starting a business. And just like in the real world, assembling a diverse team can be a barrier to entry.

Contest rules recommend teams with 3-7 members, since business ideas have a stronger chance of success if teams include people with finance, marketing, design, and technical skills.

“You can’t run a business by yourself,” said Barbara Barcon, an Innovation Challenge organizer and retired vice president and CFO with Pacific Gas and Electric. “You may like your idea, but will others like it? You’ll also need some market research.” Continue reading “Step 1 to Startup Success: Build a Winning Team”

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Are You Ready to Dream Big?

If the enthusiastic crowd at the Innovation Challenge’s second information meeting is any indication, a lot of Cal State University Long Beach students have startup dreams.

startup dreamsThe annual entrepreneurial Challenge, where student teams compete to win $50,000 in funding and services for the best business idea, was started six years ago by the colleges of Engineering, Business, and the Arts. Students at Thursday’s meeting appeared equally divided between the three colleges. Continue reading “Are You Ready to Dream Big?”