Entrepreneur and Engineer Kyle Schutter ’10 Powers Takamoto Biogas Forward

As Kyle Schutter ’10 and his roommate were riding back to Providence on the train from Boston one day during their senior year, they did what they often did during their discussions. “We’d just throw these crazy ideas at each other,” Schutter says. The crazy idea this time was biogas. “Have you ever heard of it?” his roommate asked. Schutter hadn’t. “You just take anything that can rot and turn it into fuel.”

After this, Schutter, a biomedical engineering major, couldn’t get biogas out of his head. For a class, he drew up a plan for a biogas company operating in the developing world. After graduation, he considering earning a PhD, but he changed his mind.

“I could get a PhD and know what I’ll be doing for the next seven years,” he thought, “or I could start this company, and I won’t even know what I’ll be doing a year from now.” Young and adventurous, he chose the second option.

After graduating, he went on a fact-finding trip to Africa and started an internship with a biogas construction company in Ghana. It didn’t work out. Schutter didn’t like his boss, and he was being given only menial tasks to do. After five days, he quit and went on his own to Uganda, Rwanda, and, finally, Kenya, which he decided “was a great place to live and start a business.” The country has a reliable cell phone network, he says, and an educated, business-oriented population. Farmers in rural areas—his target customers—have access to banking services. And finally, well ahead of the United States, Kenya has developed a mobile money system in which phones can be used to purchase goods. This makes handling cash unnecessary, which Schutter says reduces “the chances of theft and increases transparency.”

He opened Takamoto Biogas in Nairobi in 2011. He used a biogas system developed by a nonprofit company, taking cow dung, vegetable scraps, cooking grease, and even human feces—pretty much anything organic—mixing in water, and placing it in an oxygen-free container. Bacteria digest the waste, generating natural gas that can be captured and used to fuel anything from a milking machine to a propane cooking range. Over a six-month period, Schutter sold twelve biogas systems, each one costing $1,000.

Schutter turned to friends and family for additional capital, and during the next year and a half he sold twenty more units. If the cost of research and growth are excluded, he says, his company is already profitable.

Ever the engineer, several months ago Schutter began working in his backyard on a new model for the biogas system. He has now lowered the upfront cost to $100 and reduced installation time from twelve days to three hours. This winter he plans a renewed push to sell more units. He also will begin to court outside investors and apply for grants from foundations.

“Right now we are in a good place,” Schutter says. “We could grow faster if we had more cash, but we have to keep” enough cash on hand “because one of the biggest threats to an enterprise is stress and burnout.”

Government corruption can also be a hindrance. A Kenyan official once asked him for a $200 bribe in exchange for a permit. Schutter said he would sell the bureaucrat a biogas system at a reduced price: $1,000. The official didn’t know that what Schutter was charging him was the regular retail price for the system. The bluff worked, and no laws were broken.

For now, Schutter plans to concentrate on Kenya, but he eventually hopes to distribute his biogas systems throughout the developing world. Already, he’s received inquiries from officials in Cameroon, Somalia, and Uganda. “Whether it’s me or someone else,” he says, “this idea will be spread worldwide.”

- by Lawrence Goodman/Brown Alumni Magazine

Brown Entrepreneurs Storm Silicon Valley

Ten Brown students will venture to Silicon Valley January 13th - 18th to launch the inaugural Brown University West Coast Accelerator. These student entrepreneurs will meet dozens of like-minded alumni and supporters from companies such as Dun & Bradstreet Credibility Corp., Google, Facebook and Stanford’s StartX. The lucky ten will hone their business concepts through hands on marketing and technical training. They’ll explore funding opportunities through introductions to Brown alumni with the Band of Angels and Mohr Davidow Ventures. For these ten students, this trip is the opportunity of a lifetime to accelerate their ventures. With one week until show time, students are diligently re-working business models, perfecting pitches, and hosting all-night hackathons to create viable products. The inaugural class exemplifies what is uniquely Brown - a mindset to change the world in meaningful and creative ways. Meet the teams:

Determined to transform political engagement in the United States, Joschka Tryba ’12 and Max Fowler founded LoveGov, an online hub for every citizen to understand and engage in politics, from a local to federal level.

Will Barkeley ’16, the son of a deaf-blind mountain climber and marathon runner, has created Elevate, the next Nike for athletic apparel and equipment, dedicated to serving and recognizing disabled athletes like his father.

Exersaur tackles childhood obesity with a dinosaur avatar watch and a social gaming experience. Founded and led by Shawn Medford ’12, Roseanne Fleming ’12, Mark Buller Ph.D. candidate, and Ryan Sailor ’13, Exersaur fights childhood obesity with some fun.

Luke Sherwin '12, Neil Parikh '11, Giles Holt RISD '14, Gabe Flateman '12 and Chris Smothers '11 are disrupting e-commerce with Consignd, a new kind of platform for retail consignment. Consignd allows anyone to consign to or buy from influential content creators.

After spending years preparing for Taiwan preparatory exams, Sabrina Yu '15 co-founded gsuccess, a series of mobile applications to help test-takers in the greater China area conquer standardized exams on-the-go with little cost.

Will Hewson ’14, Gaurav Nakhare '15, and Daniel Hackney ’14 are jazzing up the tedious purchasing headache for consumer durables. They’ve taken their experiences in quick-service management and home-improvement sales to create durgood, an independent online product recommendation tool for durable goods

Brown University has had a long and fruitful history with entrepreneurship with alumni that include the founders of CNN, Nantucket Nectars, National Public Radio, the International AIDS Vaccine Initiative, Ariba, House of Air, Slideshare, and many others. In 2012, Forbes Magazine ranked Brown 13th in the nation for entrepreneurship. Brown is the up and coming University for innovation.

Conceived by Brown alumnus and Trustee Emeritus Jonathan Speed ’84, and planned by the Brown Entrepreneurship Program in partnership with the School of Engineering, the Business, Entrepreneurship and Organizations program, the Swearer Center for Public Service, and the Development Office, the West Coast Accelerator will expand the University’s entrepreneurial footprint to the Silicon Valley, building essential bridges between the University and its many successful West Coast alumni entrepreneurs. A visit to the nation’s technological capital will catalyze the University and Providence’s resources for entrepreneurs.

The spirit which epitomizes the University’s student body is that of an activist and creator. Unsatisfied with the world as it is, students at Brown eagerly seek opportunities to initiate improvements via new knowledge and ways of thought. The Brown Entrepreneurship Program is bringing this mission to new heights this winter. Look for updates and highlights of the Accelerator in coming months at brownep.org

By Elizabeth Weber

Brown Mechanical Engineering Senior David Emanuel ’13 Wins Elevator Pitch Contest with idea for a Backpack Lock

Brown alumni and students had another strong showing at the seventh annual Rhode Island Elevator Pitch contest, as David Emanuel ’13, a senior mechanical engineering concentrator took home the top prize. It was the fifth consecutive year a Brown student or alumnus has won.

Emanuel pitched Lock’d, which enables travelers to attach their backpacks to stationary objects such as hostel beds and train seats.

“With even just a little bit of funding we will fully develop a working prototype, enabling Lock’d to give travelers what they deserve: a worry-free and relaxing adventure,” he said.

David Emanuel

Emanuel is currently in Danny Warshay’s ENGN1010 class, “The Entreprenuerial Process: Innovation in Practice,” and he and his team developed Lock’d as their semester business plan project. Emanuel has also been active in the Entrepreneurship Program’s Idea Labs. The other members of Emanuel’s team are Amanda Lee ’13, Matthew Klimerman ’13, Joseph Stall ’13, and Mehves Tangun ’13. Stall is a business, entrepreneurship and organizations (BEO) concentrator and Tangun is an engineering and economics double concentrator.

The event, sponsored by the Rhode Island Business Plan Competition, was held at the Johnson & Wales University Harborside Campus and included 46 presenters. A total of $1,000 in cash prizes was awarded to the top 10 presenters. Out of the 46 to pitch, 14 had Brown connections, including 12 current students. Of the 10 finalists, an impressive six were from Brown.

Three of the top ten finalists were from Steve Petteruti’s Entrepreneurship I class, Engineering 1930G. Cory Abbe ’13, a BEO concentrator, pitched Sonacatch 3D, an all-inclusive trawl sonar system that keeps underwater fishing nets safe from harm. Other members of the team included David Killian, a computer science concentrator, Vanessa Munoz, a BEO concentrator, and Moss Amer, a BEO concentrator.

Teams from Steve Petteruti's Engineering 1930G class

Isha Gulati ’13, pitched PowerHouse, a power output meter that delivers key reading of power output of oarsmen. Other members of her team include mechanical engineering concentrators Elizabeth Gianuzzi ’13 and Francisco Oliveira ’13, and Alice Leung ’13, who is concentrating in electrical engineering.

Tim Kwak ’13, a BEO concentrator, pitched SEVA, software that will allow mariners to indicate their preferred content to be broadcast on a satellite network. Other members of his team included Ilana Foni ’13, a materials engineering concentrator, Ian Hovander ’13, a computer engineering concentrator, and William Gasner, a BEO concentrator.

The other two finalists are also active participants in the Entrepreneurship Program’s Idea Labs. Cliff Weitzman ’16, pitched BoardBrake, an attachable brake for longboards to make skateboarding safer. Sidney Kushner ’13 presented CCChampions, a nonprofit corporation he established to build a national network that links children with cancer to professional athletes.

Established in 2000, the Rhode Island Business Plan Competition recently was named one of the top 40 business plan competitions in the country, and has awarded more than $1.2 million in prizes to competitors developing companies across many industries. The contest required the competitors to pitch their business idea to a panel of eight expert judges from the Rhode Island business community in 90 seconds. The elevator pitch contest is a prelude to the annual Rhode Island Business Plan Competition, which features more than $200,000 in cash and prizes. Applications for the business plan competition close on April 1. Winners will be announced on May 2.

Previous Brown winners of the elevator pitch competition include: Julie Sygiel ’09 in 2008, Adam Leonard ’10 in 2009, Theresa Raimondo ’11 in 2010 and Kipp Bradford ’95 Sc.M.’96 in 2011.

Students demand entrepreneurship training

Clyde Briant, professor of engineering and vice president for research, was in Washington, D.C., on July 11 for a media roundtable hosted by The Science Coalition. Innovation and entrepreneurship was a hot topic. Below is an excerpt from Briant’s answer to the question, “Are we as a nation doing enough as a nation to inspire, prepare and develop the next generation of innovators?” An MP3 recording of the session is available online.

At Brown we have the famous open curriculum – it’s still called the new curriculum even though it started in 1969 – where the students have a tremendous amount of freedom in building up what they are going to take. We attract a cohort of entrepreneurial students. We do have an entrepreneurship program. It’s a student-led organization that’s extremely active, and one I’ve worked with in various ways through the years. I’d guess it’s about eight or nine years ago, really out of student demand, [that] we started a new major — a concentration as we call it — called Commerce, Organizations and Entrepreneurship. We don’t have a business school, but we pulled together engineering, sociology, and economics to launch this new undergraduate concentration. It certainly is one of the biggest concentrations now in a very short time because students feel that they do get experiential learning, they do get a chance to prepare themselves for a career in entrepreneurship. It’s been an extremely successful program for us.

Venture training helps entrepreneurs succeed

Venture for America's first class of 40 fellows, including engineering alumnus Tim Dingman '11, is currently on the Brown campus for the program's inaugural five-week training camp. Founded in 2011 by Brown alum Andrew Yang, the program places recent college graduates who have aspirations for entrepreneurship into two-year apprenticeships at startup and early stage companies in economically challenged cities around the country. In the fall, the first class of fellows will be headed to jobs in New Orleans, Las Vegas, Cincinnati, Detroit, and Providence.

PROVIDENCE, R.I. [Brown University] — For many young people, the way forward after college leads from the classroom to the corporate office, often with a stop at law or business school. But Andrew Yang knew that life after college didn’t have to follow a well-worn path; it was just a matter of making sure recent graduates knew about other options available to them. Seeking to do just that, Yang founded Venture for America, a fellowship program that pairs recent graduates with startups and early stage companies, in the summer of 2011.

Helping startups help host cities
By matching recent well-trained college graduates with
startups and early stage companies, Venture for America
hopes to help the economies of financially strained cities.

Based on the Teach for America model, Venture for America fellows complete two-year apprenticeships with companies in economically challenged cities. Working in a small company, fellows can help to grow the business while also gaining valuable real-world skills and experience. Yang also hopes that the model will have an economic impact on the cities where the partnering companies are located. “Early stage companies are where job growth and innovation are going to come from.”

Yang says it may take a few years for the effects to be obvious. “This year we’ll send five students to a city, but next year it might be 10 and then 10 again the next year. By then, the first group of students will be starting companies, and they will hire some from the next group. It’s a long-term plan to help these economies; there aren’t any quick fixes,” Yang says.

Before heading off to their respective cities, Venture for America fellows take part in a five-week training camp that prepares them for their new jobs.

Since mid-June, the first class of 40 fellows has been on the Brown campus, taking part in the program’s inaugural training camp. Each day they gather on the third floor of Pembroke Hall for a day filled with lectures and lessons by an impressive roster of industry experts — McInsey and Ideo are two of the companies taking part — followed by skill development, with small groups completing tasks such as creating a business model or programming a computer.

In September, they’ll head off to five cities around the country — New Orleans, Las Vegas, Cincinatti, Detroit, and Providence — to begin their apprenticeships. Four fellows talked about what they’re learning from the program and where they’re headed in the fall:

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Tim Dingman graduated from Brown in the spring of 2011 and was entering the fifth-year master’s in engineering program when he began to think about what he’d do when he got out of school. As an organizer of the A Better World By Design conference for two years, he had realized that a lifetime in the research lab wasn’t for him: “I always felt there was a large disconnect between what was happening in the lab and what was happening in the real world where you can make the biggest immediate impact.” So when he found out about Venture for America, he knew immediately that the program would give him that dual outlet that he needed. In the fall, he’s headed to Detroit to work for Accio Energy, an early stage company that works on harvesting wind energy by giving an electrical charge to water droplets.

Dingman says that the training camp is giving him a wide range of skills to take with him to his new job, most notably the ability to be more open to feedback. “It seems intimidating to give someone very specific and personal feedback, but I’ve realized that in fact, it’s something to be encouraged and embraced to have a fully function team.”

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Scott Lowe had two specific criteria in his search for a job after graduating from the University of Oklahoma in 2012: “I wanted something intellectually stimulating but also high impact.” A program at his alma mater that had him working on commercializing technologies developed by University of Oklahoma faculty helped him realize that he also had an interest in entrepreneurship. So when a friend told him about Venture for America, it sounded like the perfect fit. The aspiring CEO says the training camp is providing valuable lessons he’ll be able to put toward his future goals. “I’m viewing this as CEO training. A CEO doesn’t have to know a lot about any one thing but needs to know a little bit about every aspect of the company, from finance to sending e-mails effectively. I think they’re doing a great job of CEO training.”

Headed to Detroit in the fall to work as a software analyst at Digerati, Lowe hopes to wear many hats during his apprenticeship. And while the transition from his small Oklahoma town to a very large city will no doubt take some getting used to, Lowe says he’s excited for the potential Detroit has to offer. “One of the fellows, Derek Turner, has a great quote: ‘There are empty skyscrapers (in Detroit). Where else would you want to start a business?’ I think that really speaks to why I’m excited.”

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Melanie Freidrichs won’t have far to go when she begins her apprenticeship this fall. The 2012 Brown graduate will be heading down the hill to Providence-based Andera, an early stage company that creates software for small banking companies. It’s an ideal assignment for Freidrichs, who hopes to remain in the industry for the long term. “It’s an area that has been on the forefront of technology in many ways, but I do think there is a long way to go in terms of mobile banking and mobile payments and seeing what can be done to play with the traditional banking model to make that information easier to understand and more accessible for everyone.”

Freidrichs says she’s thankful for all of the technical skills she’s acquiring in the training camp, such as programming and Java, which will serve her well at her new job. She says she also appreciates the balance of startup and corporate perspectives that has been offered, despite Venture for America’s primarily small-business focus. “I don’t feel that the best entrepreneurs are the one’s that get caught up in being super startupy. I’m trying to look at what influences I can take from big business versus the startup world to be the best entrepreneur.”

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When Michael Mayer was preparing to graduate from the Wharton School of the University of Pennsylvania in 2012, he turned to family and friends for guidance. Many of them had had success in banking, so Mayer chose a similar path, starting out as an intern for Credit Suisse the summer before his senior year. But when the company offered him a job, he turned it down. “I had an incredible summer, but the day-to-day in banking was not something I could get behind and get passionate about,” Mayer says. He confesses that he was initially nervous about his decision, but when he stumbled upon Venture for America, he knew he’d made the right choice. “It was kind of love at first sight,” Mayer says.

One aspect of the program that attracted him has the community outreach component. “You’re going to these places that need help, and not only are you helping to grow a business and enhance the local economy, but you’re also there to mentor kids at high schools or start some kind of social program to help people connect, so there’s a whole different aspect that you don’t get working at a startup elsewhere.” Mayer will be able to put that philanthropic spirit to good use in New Orleans, where he’ll be working for market research technology firm Federated Sample. Where he goes after his apprenticeship, he’s unsure, but he’s certain that he’ll value and use the network of fellows he’s met at the training camp for many years. “When I have a business idea, the first people I’m going to call are the fellows. While we’re here, we’re throwing out ideas left and right, giving constructive criticism and helping each other out, so we’re all going to be close and comfortable talking about our new ideas later on. I’m so excited to see what the future holds.”

Three Brown Teams Named Finalists in Rhode Island Business Plan Competition

Three Brown teams, all with connections to the School of Engineering, were named finalists at the 2012 Rhode Island Business Plan Competition. In total, 75 emerging entrepreneurs applied to the competition, and seven have been selected as finalists, including four in the entrepreneur track and three in the student track. All three of the finalists in the student track were from Brown and the School of Engineering.

One of the finalists, JCD Wind, was from Steve Petteruti’s Entrepreneurship I class and Entrepreneurship II classes, Engineering 1930G and Engineering 1930H. JCD Wind, included James McGinn ’12, a biomedical engineering concentrator, and Carli Wiesenfeld ’12, a commerce, organizations, and entrepreneurship (COE) concentrator. The company aims to make seamless, high strength lightweight carbon fiber turbine blades. McGinn is also a member of the men’s rugby team, and Wiesenfeld is a member of the women’s gymnastics team.

A group of four graduate students in the Program in Innovation Management and Entrepreneurship (PRIME) master’s degree program were also among the semifinalists. Solar4Cents included PRIME students Sean Pennino, Bhavuk Nagpal, Xiaotong 'Peter' Shan, and Meng 'Milo' Zhang. Solar4Cents is a manufacturing company that aims to produce low-cost, thin-film copper, zinc, tin, and sulfur solar cells for solar panel manufacturers.

The third finalist in the student track is Overhead.fm, which includes Brown undergraduates Parker Wells '12, a mechanical engineering concentrator, and Stephen Hebson '12, an economics and history double concentrator. Their plan is to produce a web app to provide a customizable stream of music for in-store use, licensing music directly from the artists and labels.

The contest will award more than $200,000 in prizes. In order to receive prizes, applicants must agree to establish or continue operations in Rhode Island. Winners will be announced on May 3 at RIBX 2012 (Business Expo) at the Rhode Island Convention Center in Providence. The event is free and open to the public. All finalists will make brief presentations of their business plans at the Expo. Please go to www.ri-bizplan.com for more details. Established in 2000, the Rhode Island Business Plan Competition has awarded more than $1 million in prizes since its inception.

For the official RI Business plan release on the competition, please go to:
http://www.ri-bizplan.com/DefaultPermissions/2012FinalistsNamed/tabid/258/Default.aspx

For the Providence Business News story on the event, please go to: http://www.pbn.com/Biz-plan-competition-names-finalists,67143?category_id=27&sub_type=stories,packages

Rachel Decker Accepted into Entrepreneurial Fellows Program at Slater Technology Fund

Rachel Decker ScM '11, a current Program in Innovation Management and Entrepreneurship (PRIME) master's degree student, was just accepted into the Rhode Island National Science Foundation’s Experimental Program to Stimulate Competitive Research (NSF EPSCoR) Entrepreneurial Fellows Program at the Slater Technology Fund.

A collaboration initiated in 2008 between Slater and the Rhode Island NSF EPSCoR, the program is designed to encourage entrepreneurship in the life sciences and biotechnology industries in Rhode Island by formally engaging local university students in the venture development process.

The Entrepreneurial Fellows Program is designed to attract and support a next generation of entrepreneurs in the life sciences industry by drawing students from the state’s colleges and universities into active participation in the process of venture development. Fellows engage in venture development by working with both academic researchers and industry professionals to understand the process of start-up formation, the development of business plans, the recruitment of entrepreneurial teams, the raising of early-stage capital, and the implementation of commercialization strategies. A goal of the program is to better inform students of the career development options available within the life sciences industry and to help integrate them into the knowledge-based economy in Rhode Island

The Entrepreneurial Fellows Program was launched in 2008-2009 with a group of seven students from Brown University and the University of Rhode Island. The pilot-scale program was continued in 2009-2010 with another six students from Brown and the University of Rhode Island.


About Rhode Island NSF EPSCoR
The Rhode Island National Science Foundation Experimental Program to Stimulate Competitive Research (Rhode Island NSF EPSCoR) builds partnerships between state government, institutions of higher education, and industry to effect lasting improvements in Rhode Island’s research infrastructure and national R&D competitiveness. Rhode Island NSF EPSCoR began in 2004, receiving federal funding commitments in excess of $26.75 million. For more information, visit www.riepscor.org.


About Slater Technology Fund
The Slater Technology Fund is a state-backed venture capital fund that invests in new ventures committed to basing and building their businesses in Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership, and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.

Brown Students Perform Well at Elevator Pitch Contest

Professor Eric Suuberg reports that students from his ENGN 1930G Entrepreneurship course performed well in the Rhode Island Business Plan Competition’s Elevator Pitch Contest this week. The event took place at the new R.I. Center for Innovation and Entrepreneurship and is considered a preview to the 2011 Rhode Island Business Plan Competition.

The winner, Theresa Raimondo '11, a chemical engineering concentrator, pitched an idea for a container that can quickly heat and cool beverages and won $300. The winning idea, called HnC (hot and cold), grew out of Suuberg's entrepreneurship class in which Raimondo and six other undergraduates have been working on a way to improve the taste of food eaten by astronauts, who don’t have access to refrigeration in space. Using compact thermoelectric technology, the beverage container they’re designing will heat or cool any drink between 50 and 150 degrees Fahrenheit within 90 seconds. The team is proposing to commercialize the product, which, it says, has the potential to redefine the beverage market. Raimondo made her 90-second pitch to a panel of judges and more than 200 audience members, and finished first in a field of 48 aspiring entrepreneurs.

In addition, students and alumni from the Program in Innovation Management and Entrepreneurship (PRIME) were presenting, and Joseph Ramos ScM'10 finished second. Ramos, of Axena Technologies in Providence, won $200 for his idea for a start-up company to combat health-care associated infections. Axena Technologies was founded by four graduates of Brown University's PRIME master's degree program. The biomedical engineering company utilizes a novel antibacterial technology to coat medical devices in order to mitigate healthcare-associated infections.

Dan Aziz '05, of PriWater in Providence, received $200 for his pitch for a drink to help pregnant women decrease the chance of certain birth defects.

Each of these teams is expected to do well in the actual business plan competition next semester.

RI Business Plan Competition Press Release:
http://www.ri-bizplan.com/News/Dec2010ElevatorPitchResults/tabid/231/Default.aspx

Providence Business New online edition that described the outcome of the competition: See http://www.pbn.com/Revolutionary-beverage-container-garners-top-prize-at-elevator-pitch-competition,54251

Present and Past: Rhode Island Business Plan Competition winners from Brown

Brown students enrolled in Entrepreneurship & New Ventures ENGN1930x course consistently do well in the Rhode Island Business Plan Competition. This year Speramus, which developed its business plan in the course last semester, won the student track. The company is creating an online fundraising platform that uses a proprietary ranking system to match donors with individual support opportunities. In addition, Bakodo which developed its business plan in the course last year was runner up in the entrepreneur track. The company is focused on developing a highly-targeted, contextual barcode ad-serving network that aims to optimize return on investment for advertisers. For more information on this year's winners, visit here.

Last year's winner, Runa, who also developed their business plan in the Entrepreneurship and New Ventures course continues to make excellent progress. They have successfully raised funds from angel investors, successfully built out their vertically integrated supply chain in Ecuador, and begun selling their initial tea products in both loose leaf pouches and single serve bags. If you are interested in trying Runa, feel free to buy a cup at Blue State in Providence which now proudly serves it! You can read more at www.drinkruna.com

In addition the runner-up from last year, Eulie has also grown from the intial business plan they developed in the Entrepreneurship and New Ventures course. Both founders raised capital to work full-time on Eulie, developed and successfully tested a novel patent-pending fabric combination that is leak proof, and designed products that will be used to approach retail buyers later this year. You can read more at www.eulieintimates.com