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Fiscal Year 2014
JPECANNUAL
REPORT
2 | JPEC 2014 ANNUAL REPORT
FY2014
AT A GLANCE
ACADEMICS .......................................................... 4
EXperiential learning ................................... 6
Extracurricular Opportunities ............... 8
STUDENT COMPETITIONS .................................. 9
PARTNERSHIPS .................................................. 10
Commercialization COMPETITIONS ........ 13
YOUTH OUTREACH ........................................... 14
ALUMNI .............................................................. 16
TEACHING & MENTORING .............................. 18
CONTENTS
Economic Development Impact
UI’s Office of the Vice President for Research and Economic Development
provides necessary funding to the University of Iowa’s faculty, staff, and
student entrepreneurs. These resources assist the UI entrepreneurs to
convert ideas into business plans.
Total Seed Funding = $293,250
• Awarded $248,500 to UI faculty, staff, students, and
incubator businesses through competitions
• John Pappajohn and Equity Dynamics awarded $24,500
to UI businesses through statewide competitions
• Jacobson Institute awarded $18,250 for youth competitions
• Awarded $2,000 University of Iowa Startup of the Year
Awards during the Hawkeye Innovation Summit
Grants Awarded through JPEC-Sponsored Competitions = 97
• 378 business proposals were submitted by 309 entrants
Outreach
• 975 people attended JPEC-sponsored community speaker
series
• 350 attendees participated in UI’s annual Hawkeye
Innovation Summit
• 300+ attendees participated in JPEC and SBDC
workshops and training programs
• JPEC partnered with 65 organizations to accelerate
entrepreneurship throughout the region
Total Impact
• 244 Startups served
• 712 Clients assisted
• 9,160+ Hours of one-on-one consulting
• 365 Estimated jobs created
• 9,050 Program participants
• $293,250 Seed funding
• 3,990 Enrollments
Academic Impact
Total Enrollment FY2014
• 3,808 undergraduate enrollments
• 182 graduate enrollments
Entrepreneurship Course Sections Taught = 96
• 55 on-campus courses and 41 online courses
Total JPEC Alumni*
• 263 in FY2014
• 2,706 to date (since 1997)
*Includes: BBA Entrepreneurial Management (Track), Certificate in
Entrepreneurial Management, Technological Entrepreneurship
Certificate, and Certificate in Performing Arts Entrepreneurship.
Bedell Entrepreneurship Learning Laboratory
FY2014	 To Date (since 2004)
Businesses 53 	 Student Teams 264
Total Participants 86 	 Total Participants 449
Scholarships Awarded = $22,500
• 17 students received academic scholarships
• Scholarships ranged from $500 - $2,500
Youth Impacted = 6,767
• 3,800 high school students impacted by STEM
Innovator High School Program
• $4,950 awarded in STEM Innovator Teacher Pitch  Win
• 146 young entrepreneurs attended 5 Youth Summer
Camps held in Cedar Rapids, Des Moines, Iowa City,
Mitchell County, and Spencer
• 674 high school students from 56 school districts
entered the Quick Pitch Biz Competition and $8,500
were awarded
INTRODUCTION | 3
Photo by Manny Albadab, IMU Marketing + Design
DearFriends,
Thanks to the outstanding support from our friends and alumni, as well as the University of Iowa and
state of Iowa, JPEC significantly expanded entrepreneurship education and outreach services across the
statethispastyear.Hereareafewhighlightsofthosenewefforts:
•UI Venture School – an advanced entrepreneurship training program based on the Lean
LaunchpadandBusinessModelCanvas
•UI Innovation Associates – a unique internship program connecting top UI students with Iowa
startupandearly-stagecompanies
•Summer Accelerator – an initiative designed to accelerate student venture creation through an
intensivetrainingandmentoringprogram
•STEMInnovator – a program infusing K-12 STEM classrooms with innovation and the
entrepreneurialspirit,focusingoncommunitydriven,interdisciplinary,problem-solvingprojects
These examples demonstrate JPEC and the university’s commitment to deliver high-quality
entrepreneurship education and economic development services to all Iowans. One of the keys to our
continued success will be building upon collaborations with our strategic University of Iowa partners,
Iowa community colleges, regional and state economic development organizations, successful
entrepreneurs,alumni,andfriends.Specialthanksgoouttoallofyouforyourleadershipandsupportof
entrepreneurshipeducationandinnovationinIowa.
Want to get involved? Please contact me at david-hensley@uiowa.edu. Together, we will work with
entrepreneurstoignitetheirpassions,discovertheiropportunities,andlaunchandgrowtheirventures.
JPEC – It all starts here!
Sincerely,
David K. Hensley
JPEC Executive Director, Clinical Professor and
Associate Vice President for Economic Development
New for FY 2015
• Launch of the BA in
Enterprise Leadership
•Statewide Delivery of UI
Venture School
• Partnership with the Institute
for International Business
4 | JPEC 2014 ANNUAL REPORT
Academics: INVESTING IN
INNOVATORS AND LEADERS
2014 was an exciting year for the University of Iowa John Pappajohn Entrepreneurial Center (JPEC). As one of the
largest entrepreneurial programs in the country, reaching nearly 4,000 students in different majors both online and
on campus, JPEC earned national attention this year for its many accomplishments.
As a leader in teaching, supporting innovation, and entrepreneurial development, JPEC’s curriculum teaches
students critical skills like: strategic planning, negotiation, and financial management from award-winning faculty
and entrepreneurs who have funded, managed, and built startups. Early on, UI students convert what they learn in
the classroom to real-world application for clients across Iowa, in order to be prepared for their future.
ACADEMIC PROGRAM HIGHLIGHTS
BBA: Tippie College of Business students can select a major specifically created to teach students about entrepreneurship.
WhetherinsideaFortune500companyorrunningastartup,entrepreneurialmanagementmajorswillbewellprepared.
CERTIFICATE PROGRAMS: All the certificate programs offer students additional credentials. These programs are a perfect
complementtoanyundergraduatedegree.
•CertificateinEntrepreneurialManagement
•CertificateinPerformingArtsEntrepreneurship
•TechnologicalEntrepreneurshipCertificate
ONLINE EDUCATION: The online education opportunities allow students across the state and the country to continue their
education with the University of Iowa. Through partnerships with many of Iowa’s community colleges, online students can
choosefromtheCertificateinEntrepreneurialManagementortheBBAvirtuallyfromanywhere.
ACADEMICS
“As a JPEC Student Ambassador
I had the opportunity to
network with dozens of
successful entrepreneurs. It
was so rewarding to grow in an
environment full of like-minded,
success oriented individuals.”
Derek Brenner, (BBA, Entrepreneurial
Management, ’14)
Ruokun Yi, IMU Marketing  Design
ACADEMICS | 5
“We started Translacare with a basic idea about helping
people with acquired speech disability (those who
have had a stroke, neurological injury, or suffering with
Alzheimer’s) communicate better. It was an idea I shared
with Rich McCarty and my friend John Slump,” said
founder, Ryan Ries (BS, Neurobiology and Linguistics, ’14).
“Things started moving. I got a spot in the BELL, wrote a
business plan, and started to compete for funds. We won
$100,000 from the Iowa Economic Development Authority,
and $5,000 from the Pappajohn New Venture Business
Plan Competition in 2013. This March, we won $3,000 (3rd
place) at the Johns Hopkins Business Plan Competition
“I am proud of the fact that we are still connected to
all the good people who believed in our idea from the
beginning. I came to Iowa to study what interested me…
biology and language, and maybe to become a doctor.
Translacare was a natural result of my interests.”
6 | JPEC 2014 ANNUAL REPORT
brandmessage.Italsowasfunandfulfillingtoworkwith
the students and give them experience on a real-world
project from an Iowa company,” said Michele Farrell,
MeasuredIntentionsandFarrell’sExtremeBodyshaping.
ENTREPRENEURIAL CO-WORKING SPACES
BEDELL ENTREPRENEURSHIP LEARNING LABORATORY (BELL)
More students than ever started successful new
businesses while utilizing the Bedell Entrepreneurship
Learning Laboratory. In 2015, JPEC will celebrate
the BELL’s 10-year anniversary. BELL residents are
provided office space and mentoring from JPEC’s
Entrepreneur-in-Residenceaswellasopportunitiesfor
funding.BELLentrepreneursalsoenjoynetworkingand
communityexposure.
THINC: INNOVATION AND COLLABORATION LAB
For the first time this year, students met in JPEC’s
new 5,000, square-foot, collaborative-friendly space.
THINC provides space for students in the early stage
of business development to meet and consult with
business clients. This ideation space offers a 3-D
printer and walls of whiteboard space to further
illustrate ideas. It also serves as a popular study place
during finals week and a location for business plan
competitionsandspecialevents.​
EXPERIENTIAL
LEARNING
IOWA INNOVATION ASSOCIATES (IIA)
New in 2014, the Iowa Innovation Associates program
paired UI undergraduates and graduates with Iowa
businesses, startups, and academic and research
organizations. Students received a stipend for their
work in project development, market research,
product design, social media marketing, and software
development. “This summer there were 44 interns at
28 companies across the state. IIA enabled students to
apply professional skills along with communication,
time management, and leadership,” said Phil Jordan,
Tippie business liaison. “IIA presents students with the
opportunities that Iowa businesses have to offer and
keepstalentedstudentsworkinginIowa,”headded.
REAL WORLD MEETS EARLY STAGE IOWA COMPANY
ENTREPRENEURIAL MANAGEMENT INSTITUTE (EMI)
JPEC’sEntrepreneurialManagementInstitutepresented
55 undergraduate and graduate students with real-
world business challenges from Iowa employers this
year. EMI students consulted with 42 different Iowa
businesses. Student teams performed competitive
market analysis and research during the semester
and presented their recommendations to each client.
“Workingwiththestudentsandfacultymentorsfromthe
UniversityofIowaenabledustoconfirmandvalidateour
EXPERIENTIAL
LEARNING
“The thing I know I will take away from IIA is all of the experience
it has provided me. I have been put into a situation where I could
collaborate on a business plan and put the plans into action. This
opportunity provided me with real-life experience starting up a
new company, and I could not be more thankful.”
Kelsey Feldmann, Intern for Imblim (BA, Interdepartmental Studies,
Certificate in Entrepreneurial Management, ’15)
MEASURED INTENTIONS: Michele FarrellKelsey Feldmann
EXPERIENTIAL LEARNING | 7
“I felt myself drawn to OEI. High stakes ­— even stimulated
— and the ability to work in a team that needed every
individual member resonated with me.”
Lauryn Gordon (BA, Creative Writing, Certificate in
Entrepreneurial Management, ’14)
VENTURE SCHOOL STUDENT ACCELERATOR
This summer, JPEC selected 11 student teams to
participateinitsfirstVentureSchoolStudentAccelerator
training program. Instead of the traditional eight-week
Venture School program, the Student Accelerator was
expanded to an intensive ten weeks. Both programs
emphasized the Lean LaunchPad method, customer
discovery, and market fit. Participating students had a
chance to be awarded with $3,000 by meeting certain
business milestones and earned three credit hours for
completingJPEC’sAdvancedBusinessPlanningcourse.
“We are mechanical engineers, and the Summer
Accelerator gave us the business skills we needed to
makeSpectatorwork,”saidJonMyers(BSEMechanical
Engineering, ’16). “Our team started validating our
hypothesisandafter40customerinterviews,wehadto
makea bigpivot!”
I-ENVISION
I-Envisionisastudentorganization,withafoundation
in entrepreneurship and civic engagement, that is
open to students in every major. This year over 60
students participated. “The most rewarding part of
I-EnvisionhasbeenallofthepeopleIhavebeenableto
connectwithovertheyears,”saidStevenHensley,vice
president of I-Envision (BBA, in Business Analytics
and Information Systems, Finance, and Certificate in
EntrepreneurialManagement,’15).
OKOBOJI ENTREPRENEURIAL INSTITUTE (OEI)
On August 8, JPEC students traveled to Lake Okoboji
for a week-long entrepreneurial simulation game.
Students teamed up with business executives and
entrepreneurs to develop the most competitive
businessstrategies.“Ihadtheopportunitytoattendthe
OkobojiEntrepreneurialInstitutelastsummerandmet
Kathy Evert, the CEO of Iowa Lakes Corridor. Without
attending OEI, I wouldn’t have had the opportunity
to see what an amazing place the Lakes Corridor is,
and I doubt I would have pursued this job,” said Libby
Glaser (BA, Communication Studies, Certificate in
EntrepreneurialManagement,’14).
OKOBOJI Entrepreneurial INSTITUTE
JPEC AMBASSADOR OF THE YEAR
Chen Cui (PhD, Computer Engineering, ’15) was named JPEC Ambassador of the Year for his outstanding dedication to the program.
Chen was also elected to participate in the National University Innovation Fellowship program for student entrepreneurs hosted
at Stanford University.
“It is my great pleasure to be involved in the University Innovation Fellowship Program. With the aid of JPEC, I conducted an analysis
of UI entrepreneurship landscape. The workshop at Stanford University and Google was eye-opening. I got to know other innovative
fellows from over 80 universities across the nation, and worked together with some of them on new venture ideas.”
VENTURE SCHOOL, IOWA CITY TEAM STUDENT ACCELERATOR
8 | JPEC 2014 ANNUAL REPORT
JPEC STUDENT AMBASSADOR PROGRAM JPEC’s 15 specially
selectedstudentambassadorspromotedJPECthrough
campuswide events, liaised with high profile alumni
and guest speakers, mentored first-year students,
and participated in the I-Envision Entrepreneurship
Program. “The best part about being a JPEC student
ambassador is the numerous opportunities to
network with entrepreneurs and business people
in the Midwest. You get the chance to listen to them
and gain valuable insight,” said Alex Golay (BBA,
EntrepreneurialManagementandMarketing,’14).
UP Global America Summit The University of Iowa
served as the presenting sponsor of the first UP
Global America Summit last fall. UP Global is a
nonprofit organization dedicated to fostering
entrepreneurship, grassroots leadership, and
strong communities across the world. More than
200 community leaders from across the country
came together for this three-day conference.
Through this partnership, JPEC hosted Startup Iowa
Town Hall, which featured Scott Case, former CTO
of Priceline.com and CEO of the Startup America
Partnership, as well as Scott Heiferman, current
CEO of Meetup.com and a University of Iowa alum.
The Town Hall event brought together nearly 500
students, entrepreneurs, and community builders.
LECTURE SERIES Every year JPEC students have the
opportunity to hear from entrepreneurial experts.
In 2014, JPEC welcomed nationally recognized
entrepreneurial author Bob Dorf and former
Hawkeye NFL kicker Nate Kaeding.
The Sandage Lecture Series featured two dynamic
speakers in 2014. UI alum Dale Baker, founder
and president of Baker Healthcare Consulting
LLC, spoke to 50 students in October, addressing
entrepreneurship and how innovation can create
new opportunities. Terry Rich, president and
CEO of the Iowa Lottery, spoke to a group of 275 in
February on “Creating an Innovative Environment.”
The John R. Hughes Community Lecture Series,
sponsored by Hills Bank and Trust Company,
presented Howard O. Hagen of Dickinson,
Mackaman, Tyler and Hagen, PC. As a leading
expert in banking law, Hagen shared “Banking:
The Impact on Business in the Future” with an
audience of 200 students.
TheBenS.SummerwillLecturewassponsoredby
MidWestOne Bank in March. This lecture featured
UI alum Kevin O’Brien, president and owner
of Creative Management, Inc. (dba McDonald’s).
Kevin presented “Intrapreneurship Under the
Golden Arches: One Family’s 50-Year Journey with
McDonald’s” to 450 students. In his speech, he
shared how his family has built their business, and
McDonald’s impact on the way people eat.
Extracurricular
Opportunities
JPEC Student Ambassadors and terry rich Alex Golay The I-Envision team with John Pappajohn
Kevin O’Brien: Speaker at the Lecture Series
EXTRACURRICULAR
OPPORTUNITIES
EXPERIENTIAL LEARNING — COMPETITIONS | 9
Rose Francis Student Elevator Pitch Competition
Open to UI undergrad students (52 entrants)
$5,000	GRID Detetion Systems (Kevin Crews, Blake Trempy,
Sean Tavakoli)	
$5,000	 Safe Place (Lauren Aguilar, Nicholas Aguilar,
	 Kelsey Smithart, Anthony Pham)
$2,500	 The Mobile Bra Shoppe (Elise Froh)
$2,500	 Pivotal Reversible Watchbands (Michael Whetstone)
$1,000	 Tinderbox (Lauryn Gordon, Yuuki Matsuyama)
$500	 Train Protean (Austin Harris)
$500	 Swvl Shkr (Connor Keane)
$500	 Widespread Threads (Jerid Schumacher, Taylor Grote)
$500	 Project Soapbox (Caroline Altenbern)
$1,000	 Beards for Boobies (Corey Collins, Storm Vaske, Michael
	 Greeby) — Keith Starman Entrepreneurial Award
$1,000	 Launch Services (Gerry Redlinger, Luke Haverkamp) —
	 Keith Starman Entrepreneurial Award
Bedell Entrepreneurship Learning Laboratory (BELL)
in End-Of-Semester Competition
Open to UI students in the BELL (14 entrants)
Judges’ Choice:
$1,500	 Tinderbox (Lauryn Gordon, Yuuki Matsuyama)
$500	 AiCheng Magazine (RuiHao Min)
$500	 Tim’s Studio (Yuxuan Zhang)
$500	 Widespread Threads (Jerid Schumacher, Taylor Grote)
People’s Choice:
$500	 Tim’s Studio (Yuxuan Zhang)
Volding Business Plan Competition
Open to UI undergraduate students  graduate students (20 entrants)
$5,000	 Real Property Intelligence (John Nicholson)
$3,000	 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn
	 Engelbart, Kaitlyn Roth)
$2,500	Edible Innovations (Ruihao Min, Jiang Mang, Xiao Xuan Fang)
$2,000	 Launch Services (Gerry Redlinger, Luke Haverkamp)
$1,500	 Ruminate (John Raid)
$1,500	 Safe Place (Kelsey Smithart, Lauren Aguilar)
$1,500	 Kar(a)te (Soley Thornsteinsdottir)
$1,000	 Girl the World Over (Simone Renault)
$1,000	 Tinderbox Studios (Lauryn Gordon, Yuuki Matsuyama)
$1,000	 Translacare (Ryan Ries)
BELL Business Fair/Year-end Competition
Open to UI students in the BELL (38 entrants)
Judges’ Choice
$3,500	 Blue Cheese (Ruihao Min, Ming Jiang)
$1,500	 Farm Manuals Fast (Tyler Finchum)
$1,500	 QC Med Tech (Edward Mwenda, John Seeley)
$1,500	 Pivotal Watchbands (Michael Whetstone)
People’s Choice
$2,000	 Blue Cheese (Ruihao Min, Ming Jiang)
HubertE.StorerEngineeringStudentEntrepreneurialStart-upAward
Open to UI College of Engineering students (7 entrants)
$7,500	 Real Property Intelligence (John Nicholson,
	 Lee Nicholson, Bailey Smith)
Pappajohn New Venture Business Plan Competition
Open to UI regional and statewide winners (20 entrants)
UI Regional
Regional Finalist, $1,000 Real Property Intelligence (John Nicholson)
Regional Finalist, $1,000 Edible Innovations (Ruihao Min, Jiang Mang,
Xiao Xuan Fang)
Regional Finalist, $1,000 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn
Engelbart, Kaitlyn Roth)
Regional Winners
1st Place, $5,000 Real Property Intelligence (John Nicholson)
1st Place, $5,000 Edible Innovations (Ruihao Min, Jiang Mang, Xiao Xuan Fang)
Finalist, $500 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn
Engelbart, Kaitlyn Roth)
Idea Storm Pitch Competition
Open to UI graduate and undergraduate students (60 entrants)
$500	 Fake Drug Tester (Edo Mwenda)
$500	 Parking Ramp Indicators (Tim Zhang)
$300	 Bike MD (Julian Valencia)
$300	 Drone Security Service (Stephen McEleney)
$200	 Colleigo.com (Ruihao Min)
$200	 Energy Generating Interactive Public Art (Heidi Zenisek)
3-Day Startup Pitch Competition
Open to UI undergraduate and graduate students (30 entrants)
$1,250	 Speeko (Nicholas Aguilar, Lauren Aguilar, Phil Wirtjes,
	 Scott Hurtgen, Michael Covello)
$750	 Boomer Network (Arabella Franze-Soeln, Magdalena
	 Franze-Soeln, Maximilian Franze-Soeln)
Student
COMPETITIONS
ui startup of the year
$1,000	Higher Learning Technologies (Adam
Keune, Alec Whitters, Ben O’Connor)
ui STUDENT startup of the year
$1,000	 Translacare (Ryan Ries)
AWARDS AND
RECOGNITION
10 | JPEC 2014 ANNUAL REPORT
IOWA MEDICAL INNOVATION GROUP (IMIG)
The Iowa Medical Innovation Group program paired
College of Engineering, Carver College of Medicine,
Tippie School of Management, and College of Law
studentstoallphasesofmedicaldeviceandtechnology
development. Projects were submitted and students
conducted a needs assessment to indicate the market
potential, current competition, and overall potential
of their idea. In 2014, 35 IMIG participants developed
3 new venture projects. “I like collaborating with
students. While I might have a good medical idea,
I don’t necessarily know the intricacies behind the
engineering aspects or patent searches,” said IMIG
member Cody Connor (third-year medical student,
UIHC). Cody’s team, BlO2dWorks, created a more
efficientoximeterforhospitaluse.
SOCIAL JEWELRY STARTUP
Imblim was launched through the Bedell
Entrepreneurship Learning Laboratory (BELL) by
Anna Bruno (MA, Fiction Writing ’17), who created
a social jewelry startup. “Imblim is an e-commerce
jewelry experience that relies on social sharing to
thrive.Callitaviraljewelrybusinessduetoitsmessage
— it lets you tell your story,” she said. Imblim’s pieces
have specific significance and meaning, which is
shared when given as a gift. Imblim won $2,000 in
the Iowa Centers for Enterprise (ICE) Elevator Pitch
Competition last fall, and Anna credits her success to
theresourcesofferedthroughtheBELL.
Engineering Startup of the Year
Real Property Intelligence LLC, co-founded
by brothers John Nicholson (PhD, Simulation
Based Engineering, ’15) and Lee Nicholson, aims
to revolutionize the way real estate appraisals
take place by using Real Property Probability
Prediction (Real P3). Real Property Intelligence
LLC won the Hubert E. Storer Engineering Student
Entrepreneurial Start-up Award and $7,500this year.
“Real Property Intelligence, LLC empowers real
estate investors with information to improve their
return on investment, provides real estate agents
withanobjectivesecondopiniononvalue,andgives
individual homeowners peace of mind that they are
paying a fair price for their home,” said John.
ACCELERATING OPPORTUNITIES,
APPLIED RESEARCH  INNOVATIONS
PARTNERSHIPS
Anna BrunoCody Connor John Nicholson
Partnerships
The UI Office of the Vice President for Research
and Economic Developments directs UI economic
development and technology commercialization
activities at Iowa. JPEC works closely with this
organizationtosupportentrepreneursastheystartand
growtheirbusinesses.
Small Business Development Center (SBDC)
TheUniversityofIowa’sSmallBusinessDevelopment
Center continues to provide outreach initiatives
and educational offerings to Iowa entrepreneurs.
Last year the SBDC held 11 workshops and training
seminars for 198 people. Paul Heath and his team
counseled a total of 245 clients. As a result, 24 new
businesses were created along with 91new jobs.
Carrie Van Orden, who recently launched her cycling
businessMaxEffectsaid,“IcouldnothavestartedMax
Effect without the help of the SBDC. They provided
an in-depth analysis of my business plan and financial
forecasting to help me find the funds to begin. Being
an owner of a business is not work, but a privilege
and an honor. I get to have a very positive impact on
people’s lives. I would not be here without the SBDC.
TheSBDCgavemethetoolsIneeded,”saidCarrie.
REGIONAL BUSINESS INCUBATORS
Iowa City Area Development (ICAD) manages two co-
working spaces. Incubators in Iowa City and Coralville
provideuniqueworkingspacetoemergingandexisting
business for a day, month, or a year. The IC CoLab was
Mazira’s(astartuplaunchedintheBELL)introduction
to the startup ecosystem. “We made new connections,
acquired new contracts, and friendly advice is
always just around the corner,” said Mazira CEO
Anith Mathai, (MS, BioMedical Engineering ’05),
resident of IC CoLab. The Vault co-working space,
run by Seed Here in downtown Cedar Rapids, offers a
placewhereideasgrowandentrepreneursthrive.
UNIVERSITY OF IOWA RESEARCH PARK
For 25 years, the University of Iowa Research Park has
provided essential resources to technology startups.
The enterprises at the UI Research Park maintain
dynamicrelationshipwiththeUniversityofIowafaculty
(physicians, engineers, and scientists) and lease space
inastate-of-theartbusinessincubator.
BIOVENTURES CENTER
The BioVentures Center is a business incubator
providing cost-effective wet lab space to new life
science ventures. This incubator and partnership with
the UI were among the first in the nation when it was
established in 1984. The BioVentures Center has
fostered almost 100 UI new enterprises.
TECHNOLOGY INNOVATION CENTER (TIC)
The Technology Innovation Center provides office
space and a nurturing business environment to new
technology startups. This facility’s focus is to provide
a space to startups developing new technologies. New
ventures with high-growth potential can maintain
partnerships with UI faculty and counsel for financing
andcommercialization.
PARTNERSHIPS | 11
NEXT STEPS
colab
Max Effect: Carrie Van Orden bioventures center
12 | JPEC 2014 ANNUAL REPORT
OUTREACH AND
PARTNERSHIPS
PARTNERSHIPS
Venture School
In its first year, Venture School has helped 37 entrepreneurs hone
their business plan through the business model canvas and customer
discovery research. “Venture School is a program that is designed to
accelerate the startup process. In eight weeks, students are encouraged
to go out and talk to as many customers as possible and to validate
their business model canvas,” said Jennifer Ott, JPEC training
and engagement liaison.
Immortagen LLC is a startup that was named Best Business Opportunity
in the Spring 2014 Venture School cohort. The team of four founded the
business, which aims to provide personalized cancer treatment based
on predictive algorithms. Immortagen LLC applied to the Venture School
program to gain expert mentoring.
“JPEC Venture School allowed us to bond as an entrepreneurial team and
to work together with senior mentors to discover our customers,” said
Immortagen co-founder Kristina Thiel, PhD. “Since our team is comprised
of scientists, the hypothesis-driven approach of the Lean LaunchPad
method used in Venture School resonated with us. Through Venture School,
Immortagen LLC has a new and much more comprehensive business model
and is substantially closer to launch.”
Hawkeye Innovation Summit
Innovation: the act or process of
introducing new ideas, devices, or methods
Innovation is the key to entrepreneurship, and JPEC sponsored or hosted
two major innovation events this year: the Innovation EXPO held in
Coralville and the Hawkeye Innovation Summit in Iowa City.
Innovation EXPO
TheInnovationEXPOdrewacrowdofover600people.Thekeynotespeaker
and University of Iowa alum Scott Heiferman, the CEO of Meetup.com, led
theStartupIowaTownHall.TheEXPOalsoprovidedaconcurrentSeedand
Venturepitchsessionsfor9localstartups,andtheTechnologyAssociation
of Iowa’s Pitch and Grow event featured 16entrepreneurs who presented
business ideas to a think-tank. The Innovation EXPO has expanded to
become one of Iowa’s largest entrepreneurial events.
Hawkeye Innovation Summit
This spring marked the second year for JPEC’s Hawkeye Innovation
Summit. Over 350 people attended this day-long celebration of
entrepreneurship and innovation. The Hawkeye Innovation Summit
featured panel discussions with prominent community entrepreneurs,
varied breakout sessions, and a keynote address from Bob Dorf, co-
author of The Startup Owner’s Manual. Dorf’s idea of the Business Model
Canvas and Lean LaunchPad methodology are featured in JPEC’s Venture
School. The final round of the UI Business Model Competition was also
hosted during the event, with companies pxAlpha and System Prognostic
LLC each winning $11,000. Second-place winner of $8,500, Iowa
Adaptive Technologies, competed in the International Business Model
Competition hosted at BYU and won an additional $5,000.
PARTNERSHIPS — COMPETITIONS | 13
Commercialization
Competitions
Iowa Centers for Enterprise Elevator Pitch Competition
Open to UI graduate students, faculty, staff, BELL tenants, and UI
Research Park tenants (54 entrants)
$6,000	 Trosen Pneumatic Systems (Lawrence Trosen)
$3,000	 MedDev Enterprise (Samantha Miller, Kevin Johnson,
	 Eric Dinges, Ellen Gardner)
$2,000	 Imblim (Anna Bruno)
$2,000	 Pure Oleochemicals (Ned Bowden, Abhinaba Gupta,
	 Andrew Meyer)
$2,000	 RAMDO Solutions LLC (Kyung Choi, Nicholas Gaul,
	 Hyunkyoo Cho)
$2,000	 Real Property Intelligence (John Nicholson)
$2,000	 SavviFit (Jean Prahm)
$2,000	 Zhendong Jin (Zhendong Jin)
$1,000	 NaturemiRI (Brad Amendt)
$1,000	 DJB Entertainment  Rentals (Jay Brown)
$1,000	 Experience Nonfiction (Blair Braverman)
$1,000	 Grade A Speaker Co (John Malone)
$1,000	 Immortagen (Kimberly Leslie, Donghai Dai, Kristina
	 Thiel, Baoli Yang)
$1,000	 Iowa Adaptive Technologies (Benjamin Berkowitz,
	 Richard Hurtig)
$1,000	 Iowa Approach Inc. (Eric Sauter, Steven Michelson,
	 Trena Thome)
$1,000	 pxAlpha (Ryan Flynn, Blake Dirksen)
Iowa Pappajohn Business Plan Competition
Open to Iowa startup businesses (16 entrants)
$10,000	 Memcine (Tony Vanden Bush, Kate Holt)
Finalist	 Higher Learning Technologies (Adam Keune,
	 Alec Whitters, Ben O’Connor)
Finalist	 TelePharm (Roby Miller)
Regents Innovation Development fund Proposal competition
Open to UI Research Park tenants (19 entrants)
$20,000	 pxAlpha (Blake Dirksen, Ryan Flynn)
$15,000	 Componica (Steven Mitchell, Justin Evans)
$15,000	 BioPrint (Ibrahim Ozbolat)
$10,000	 Accelagrant Consulting (Chris Rogers, Jeff Neighbors)
$10,000	 Exemplar Genetics (Chris Rogers)
$5,000	 Innovas Technologies (Chuck Dirks)
Business Model Competition
Open to UI faculty, staff, students, UI Research Park,  BELL tenants
(35 entrants)
$11,000	 pxAlpha (Blake Dirksen, Ryan Flynn)
$11,000	 Systems Prognostic LLC (Bruce Ayati)
$5,000	 BlO2dWorks (Samantha Miller, Eric Dinges, Ellen Gardner,
	 Kevin Johnson, Elizabeth Winter)
$13,500	 Iowa Adaptive Technologies (Ben Berkowitz, Richard
	 Hurtig) — Finalist for International BMC at Brigham Young
	 (+$5,000)
$3,500	 Translacare (Ryan Ries)
$3,500	 Imblim (Anna Bruno)
$3,500	 Okara Food Company (Hannah Johnson, Matt Mesaros,
	 Joshua Draves-Kellerman, Jake Gratzon)
$3,500	 Safe Place (Kelsey Smithart, Lauren Aguilar)
$3,500	 Widespread Threads (Jerid Schumacher, Taylor Grote)
$2,500	 Real Property Intelligence (John Nicholson)
$2,500	 Syruption (Carter Yerkes, Noah Kirschbaum, Tyler Lubbs)
$1,000	 Spectator (Jon Myers, JD McCollough, Brandon Keifer)
$1,000	 Launch Services (Gerald Redlinger, Luke Haverkamp)
$1,000	Boomer Network (Arabella Franze-Soeln, Magdalena
Franze-Soeln, Maximilian Franze-Soeln)
$1,000	 Edible Innovations (Ruihao Min)
Prometheus Award
(Technology Association of Iowa)
TOP GROWTH COMPANY OF THE YEAR 	Higher Learning Technologies	
BREAKOUT AWARD 		 Alec Whitters
CEO OF THE YEAR 		 Alec Whitters
TOP GROWTH COMPANY OF THE YEAR 	MediRev
CEO OF THE YEAR 		 Chris Klitgaard	
Regional/National Competitions
INTERNATIONAL business model competition
Semi-Finalist – $1,000	Iowa Adaptive Technologies
(Ben Berkowitz, Richard Hurtig)
johns hopkins UNIVERSITY BUSINESS PLAN COMPETITION
3RD PLACE		TranslaCare (Medical Technology and Life
Sciences Undergraduate Track, Ryan Ries)
RICE BUSINESS PLAN COMPETITION
Houstonbusinessjournal
leadershipaward-$3,000
University of Chicago trading competition
Arbitrage Case: 7th	 MJ Capital (Jhon Roa, Michael Kirchner)
Options Case: 17th Place	 MJ Capital (Jhon Roa, Michael Kirchner)
Math Case: 18th Place	 MJ Capital (Jhon Roa, Michael Kirchner)
VIETNAM TALEN COMPETITION
3RD PLACE $1,500	 SnapNSee (Tung Phan Hoang, Hung Viet Tran)
Iowa Approach Inc. (Eric Sauter,
Steven Michelson, MD, Trena Thome)
14 | JPEC 2014 ANNUAL REPORT
INSPIRING FUTURE
ENTREPRENEURS
YOUTHOUTREACH
New curriculum for teaching entrepreneurship
in high schools
Through a program developed by the Jacobson
Institute for Youth Entrepreneurship, high school
teachers now have an affordable, resource-packed,
online entrepreneurship curriculum at their
fingertips. Previously called YouthBizCentral, the
program is revamped, improved, and renamed
BizInnovator.com. Not only does the program
have a new name and improved look, but the
resources included have all been updated and
enhanced (8 customizable units, video profiles of
young entrepreneurs, student business planning
template, activities, web sources, unit plans,
assessments).
Educators can visit BizInnovator.com and sign
up for free access to Unit 1 and to learn more.
QuickPitchBizCompetition
The Quick Pitch Biz Competition is open to any Iowa
high school student and had 674entries this year. The
top 6finalists compete in the Statewide Competition
and a total of $8,500in seed capital is awarded.
Logan Manders, Wahlert High School senior from
Dubuque,Iowa,wastheStatewideQuickPitchwinner
andreceivedatotalof$2,000inseedcapital.Hislatest
product, Manders Chicken Tractors, features mini,
moveablechicken coopsmadeforusewithincities.
“By thinking like an entrepreneur, you think of
problem-solving and ways to help people that will
affect everyone in a positive way,” says Logan.
Logan said he values the experience and feedback
he gained from the Quick Pitch Biz Competition and
is now using that feedback to further improve his
business. With his winnings, Logan intends to open a
company bank account, create marketing materials,
improve his equipment, and sell his product at the
county fair.
Austin Dunbar, 1st Place, Spring Competition
Kayla Kearns, 1st Place, Fall Competition
Sydney Rieckhoff, Honorable Mention, Spring CompetitionLogan Manders, Statewide Winner
Photo credits: Shuva Rahim / Accent Photographics
INSTITUTE
JACOBSON
FOR
YOUTH ENTREPRENEURSHIP
The University of Iowa
CollegeS of Business and Education partner
Over the past year, the Jacobson Institute and the
CollegeofEducationbeganapartnershipworkingto
infuse K-12 STEM classrooms across the state with
an entrepreneurial spirit, focusing on community
driven, interdisciplinary, problem-solving projects.
The STEM Innovator initiative, organized
by Dawn Bowlus, director of the Jacobson
Institute, and Leslie Flynn, clinical assistant
professor of science education, led to a number
of new opportunities and accomplishments over
the past year, impacting 3,800 students.
“We’re bringing together a lot of knowledge
about how business works with knowledge of
how education works,” said Dawn. “We have the
same mutual goals but how we go about getting
there is different, and I think that benefits us.”
As the team looks forward to the next group of
teachers participating in the STEM Innovator
Institute, the first group of high school students
to participate, and a year full of further
collaboration and learning, they continually
strive to maintain the University of Iowa’s
standing on the forefront of STEM innovation
and entrepreneurship.
“It’s a national movement that we not only want
Iowa to be part of, but we want to lead when it
comes to infusing entrepreneurship in a STEM
classroom,” said Leslie. “We’re pushing the
boundaries, and we’re part of just a handful of
people doing it nationally.”
FY2014 AT A GLANCE: YOUTH OUTREACH OVERALL IMPACT
YOUTH OUTREACH | 15
STEM Innovator is projected to impact over
10,000 secondary students in year 2
• 146elementary and middle school students attended
entrepreneurship camps in 5locations statewide.
• A total of $18,250in seed capital was awarded.
• 2,043students and 948 teachers used bizinnovator curriculum.
•6,767students were impacted through youth outreach initiatives.
• 31,909students have been impacted through youth outreach
initiatives since 1996.
• 5,327 students have used the bizinnovator curriculum since 2009.
Leslie Flynn and dawn bowlus STEM Entrepreneurship Institute
Photo Credit: Mei-Ling Shaw Williams/UI College of Education; Ruokun Yi/IMU Marketing + Design
16 | JPEC 2014 ANNUAL REPORT
WHAT DID YOU
TAKE WITH YOU?
ALUMNI
Tyler Rustin
BBA, Certificate in Entrepreneurial
Management,’12, Business Development
Representative, Phunware Inc., Austin, TX
“I started MyCollegeHomePage
while I was a student at the BELL.
I got lots of support and want to
give back to other students in a
similar position now. I had great
mentors, and I would be happy
to mentor other students.”
Annie Vitale
BBA, Marketing, Certificate in Entrepreneurial
Management, ’08, Founder, Father-Daughter
Scholarship in Memory of Richard J. Meyer,
Indian Head Park, IL
“‘Be Remarkable.’ That was the challenge the University of Iowa instilled
in me from my first day on campus. The College of Business, and JPEC in
particular, gave me the knowledge, discipline, and dedication to launch a
scholarship program in memory of my father. Through the Father-Daughter
Scholarship in Memory of Richard J. Meyer (FatherDaughterScholarship.org),
I have been able to grant 40 scholarships totaling over $22,000 since 2003.”
Jonathan
Chaparro
BA,CommunicationsStudies,Certificatein
EntrepreneurialManagement,’08,President
ofI-Envision2007-2008, DirectorofMidwest
RegionalRecruitment,TeachforAmerica,
Chicago,IL
“The relationships I developed through my involvement with I-Envision:
Students In Free Enterprise, continue to be a bedrock. Not only do
they continue to be colleagues and a part of my professional network,
they really have become dear friends. It’s been amazing to see how
connected we’ve all remained despite our increasingly hectic schedules
and ever-growing travel commitments. To this day, we fondly remember
our efforts to plan the Hensley Invitational, our presentations for the SIFE
Nationals, and our volunteer work with Uptown Bill’s.”
Katie Bonk
Zittergruen
BA, Communication Studies, Certificate
in Entrepreneurship, ’08, Project
Manager, Walgreen Co., Chicago, IL
“The JPEC program was an
opportunity to experience the
entire business program at the
university. It taught me the
fundamentals for what it takes
to become successful and the
hard work required to succeed
whether that is a corporate job or
starting your own company. The
biggest takeaway was the ability
to think creatively regardless of
the situation in order to come up
with the optimal solution. This is
something I use not only in the
business world but also the real
world when working through
important decisions.”
Brad Phillips
BBA,Management,Certificatein
EntrepreneurialManagement,’07,Partner,
BPWFinancialGroup,DesMoines,IA
“The biggest thing that I took away
from JPEC was the relationships. I
learned that connections are the
most important thing I can have.
Once you have support and that
first feeling of ‘I can do that,’ you
can do anything.”
William Kyzer
BA, English, Certificate in Entrepreneurial Management, ’10, Business and Economic Developer,
Anchorage Economic Development Corporation, Anchorage, AK
“The Entrepreneurial Management Institute was one of the most impactful
elements of my education at the University of Iowa. The networking I’ve done
through EMI has been extremely useful.”
ALUMNI | 17
Where Are You Now?
Tell us at www.iowajpec.org
Amanda Boelyn
BA, Finance, Certificate in
Entrepreneurial Management, ’10,
Boelyn Consulting, Chicago, IL
“One thing that I loved [about
JPEC] is that it was so hands on.
You actually leave with real-life
experience. We also had the
most experienced professors, like
Rich McCarty who had so much
advice to offer. Entrepreneurs are
calculated risk takers, so having
the support from the professors
was great.”
Tyler
Zittergruen
BBA,Finance,CertificateinEntrepreneurial
Management,’08,Director,ParkHillGroup
LLC,Chicago,IL
“JPEC gave me the foundation
to be successful in the corporate
world. It gave me a better
understanding on the intricacies
of a business, and it also taught
me the underlying fundamentals
in regards to accounting, finance,
management, and marketing.
The skills and values I learned
through JPEC I utilize not only
in the corporate world but also
in my daily life. The hard work
and dedication to succeed that
was taught to me throughout my
course work has allowed me to use
those skills in my everyday life.”
Kristina Nemetz
BA,CommunicationStudies,CertificateinEntrepreneurial
Management,’05,SuperintendentofMarketingSpecial
Events,WheatonParkDistrict,Wheaton,IL
“The real-life examples and applications, especially in regards to business plans
and financial projections, have had a huge impact on my professional life. In
meetings or when presenting at conferences, employees 20+ years older than me
are shocked by my in-depth understanding of business planning, budgeting, and
understanding of financial documents. Thanks, JPEC!”
J.R. Textor
BA, Communication Studies, Certificate in
Entrepreneurial Management, ’04
Commercial Leasing and Property Manager, Hubbell
Property Management, Des Moines, IA
“Entrepreneurship has played a key role in my career as a commercial real estate
broker with CBRE/Hubbell Commercial. The skills I developed at JPEC have also
helped me excel in my current role as the commercial leasing manager and
property manager with Hubbell Realty Company. Having an entrepreneurial spirit
is important, and I leverage my education received at JPEC all the time.”
Erin Glidden
BBA,Marketing,Certificatein
entrepreneurialManagement, ’09,
DevelopmentDirectorfortheBoyScoutsof
America,Omaha,NE
“I need to be creative and
innovative at my current job. JPEC
helped me think outside the box.”
Jean Prahm
BAS,Entrepreneurship,CertificateinEntrepreneurialManagement,’12,
Two-timeOlympicBobsledderandCreatorofMommyHips, Iowa City, IA
“Taking my first entrepreneurship course actually inspired my business [MommyHips].
I always wanted to own my own business, but I didn’t know what yet. My professor
encouraged us to think of a personal problem that you had that could be fixed. That is the
key to entrepreneurship — finding new ways to solve problems more efficiently.”
I-ENVISION 2006–2007
“When you see the light bulb
turn on and the student finally
understands a concept — that is
whenit’smostrewarding.Learning
from lecturers with real-world
experience is a great opportunity
forthestudentstogetahandleon
whatitisreallylikeintheworldof
entrepreneurship.”
KevinKrause,JPECFull-TimeLecturer
full-timeLecturersLecturers are the heart of mentoring
at JPEC. They teach and inspire students through
JPEC courses, and prepare them for their future in the
world of business and entrepreneurship. Kurt Heiar,
JPEC lecturer, lead instructor for Venture School, and
BELL Entrepreneur-in-Residence, said that the most
rewarding part about being a lecturer for JPEC was
seeingthetransitionbetweenwhatthestudentlearned
inclassandapplyingitintheirbusiness.“Whenstudents
are able to translate lecture material to personal skill
sets,thatiswhatisexcitingtosee,”saidKurt.
Entrepreneurs-in-residence This dedicated group of
entrepreneurs is passionate about imparting their
knowledge of business and extensive business
experience to students who work in the Bedell
Entrepreneurship Learning Laboratory (BELL). “I
was a student entrepreneur at the University of Iowa,
so it’s rewarding to give back what the university
gave me,” said Entrepreneur-in-Residence Keith
KURT HEIAR BLAKE RUPEKEITH CHIAVETTA
Chiavetta. Keith worked with five student groups
duringthespringsemesterandmentoredthreeteams
over the summer. One of his first students through
Entrepreneur-in-Residence was recent graduate
Blake Rupe, who created and marketed her own
competitive recycling application called ReAPP, which
was featured in the Des Moines Register and other
national publications. “I am incredibly lucky to have
received mentorship from Keith during this process.
Keith has extensive experience in running, managing,
and advising businesses but also in running app
development companies. He wasn’t afraid to advise
mewhenmyideasneededmoretimetodevelop. This
was crucial to my success, honestly, because I knew
thatwhenhetoldmethatanideaoramovewasagood
idea,hewasn’tsayingittofluffupmyegooranything.
He really was an incredible adviser and mentor,” said
Blake (MA, International Studies with a focus on Latin
AmericanMarineConservationandPolicy,’14).
Your entrepreneurial experience is valuable to JPEC students. Please consider coming back to campus to judge a business plan competition or to mentor a student startup.
There are many ways you can connect. Join us to speak to students at THINC or the BELL. Support JPEC by providing necessary funds for entrepreneurial speakers to address
studentorganizationsorourJPECstudentbody(groupsvaryingfrom70to1,000).ComebackforHomecomingoroneofourcelebratedinnovationevents.Attendorsponsor
a networking event, where students can make new connections with business and industry experts across Iowa.
Your time and financial support is valuable to everyone at JPEC. Your contribution allows JPEC to grow and create more entrepreneurs. Go to our website,
www.iowajpec.org, and like us on Facebook.com/Entrepreneurship.at.Iowa and follow us on Twitter at Twitter.com/iowajpec.
CONNECTING WITH STUDENTS
Teaching  MENTORING
18 | JPEC 2014 ANNUAL REPORT
TEACHINGMENTORING
KEVIN KRAUSE
HIGHLIGHTS | 19
JULY
SEPTEMBER
NOVEMBER
JANUARY
MARCH
MAY
AUGUST
DECEMBER
FEBRUARY
APRIL
JUNE
OCTOBER
Jacobson Youth
Entrepreneurship Academy
Camps: DSM, IC, CR
Six-Week Startup
ICE Elevator Pitch Workshop and Competition;
Venture School, Iowa City; Idea Storm; Introduction
to Ruby and Python Workshop
Project Hope; Dev/Iowa Bootcamp, Iowa City;
Elementary STEM Teacher Training, Jacobson
Institute; ICACC with Keynote by Dan Reed
BusinessModelMentoringandCompetition;
MidWestOneLecture;LeanLaunchpadWorkshops;
CorporateInnovationTraining;HawkeyeInnovation
Summit;VoldingBusinessPlanCompetition
StatewideJohnPappajohnNewVentureBusinessPlan
Competition;BELLBizFairandSpringAwards;JPEC
BoardMeetingandNetworkingReception;EntreFest,
IowaCity;Commencement;StudentAccelerator
BELL Open House
and Kickoff
Rose Francis Elevator Pitch
Competition; Fall Awards
Winter High School Teacher Collaboration, Jacobson Institute;
Technology Commercialization  Entrepreneurship at UI; Sandage
Lecture; Six-Week Startup; Business Model Competition Mentoring
Hawkeye Innovation Awards; Venture School, Iowa City;
Pitch and Win STEM Festival, Jacobson Institute; 3-Day
Startup Bootcamp; Cedar Rapids/Iowa City Job Crawl
Dev/Iowa Bootcamp; Jacobson
Institute Youth Entrepreneurship
Camps, Cedar Rapids
THINC Grand Opening; Homecoming; Annual
JPEC Board Meeting; Hughes Lecture; Creative
Week; UpGlobal; Innovation Expo; Startup Stories;
Sandage Lecture; Iowa Startup Town Hall
FY2014 Highlighted
David Hensley
Lynn Allendorf
Dawn Bowlus
Paul Heath
Executive Director and Clinical Professor
Director, JPEC  Bedell Entrepreneurship Learning Laboratory
Director, Jacobson Institute for Youth Entrepreneurship
Regional Director, Small Business Development Center
Phil Jordan
Jennifer ott
Amy Jo Reimer-Myers
patricia weiland
Tippie Business Liaison
JPEC Training and Engagement Liaison
Associate Director, Educational Outreach
Accountant
Patricia Whidby
Allison Winter
Ashley Zierath
devyn alexander
Department Administrator
Program Coordinator, Youth Initiatives
Digital Marketing and PR Manager
Event Coordinator
Tom Bedell
John Buchanan
Barry Butler
Tom Cardella
CEO, Two Old Hippies
Founder, RBP; a Marsh  McLennan Company
UI Executive Vice President and Provost
President, Thomas L. Cardella Associates
Sarah Fisher Gardial
Richard Jacobson
Kevin Krause
Sally Mason
Dean, UI Henry B. Tippie College of Business
Founder  Chairman Emeritus, Jacobson Companies
Senior VP Marketing, Carson Group
President, University of Iowa
John Pappajohn
Daniel Reed
Jean Robillard
Don Schoen
President, Equity Dynamics Inc.
UI Vice President for Research and Economic Development
UI Vice President for Medical Affairs
Founder  CEO, BettrLife
Alec Scranton
Dennis Sparks
Dean, UI College of Engineering
Director Global Logistics and Supply, Pfizer Inc.
Ben Anderson
joe cortese
Jared Garfield
josh krakauer
Founder, Bandwidth Pool
Managing Director, Vilas Capital Management LLC
Co-founder  CTO, Corvida Medical
CEO  Co-founder, Sculpt
John Mickelson
Patricia Miller
roby miller
ravi patel
Founder and Managing Partner, Midwest Growth Partners
Chief Strategy Officer, Matrix IV
Founder, TelePharm
Principal and President, Hawkeye Hotels
Brad Phillips
Anne Price
Stacey Rodenkirk
Tim Rypma
Partner, BPW Financial Group
Nanny
Project Manager, International SOS
Manager, R.E. Properties LLC
John Slump
Jason Trout
Zac Voss
Laura Westercamp
Co-founder  CFO, Corvida Medical
Co-founder, Good Blogs
President, Voss Distributing LLC
Management Consultant, Accenture
STAFFADVISORYBOARDALUMNIBOARD
108 John Pappajohn Business Building, Suite S160 | Iowa City, Iowa 52242-1994
facebook.com/Entrepreneurship.at.Iowa | twitter.com/iowajpec
www.iowajpec.org | (319) 335-1022

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JPEC 2014 AnnualReport-HR-ToPrint

  • 2. 2 | JPEC 2014 ANNUAL REPORT FY2014 AT A GLANCE ACADEMICS .......................................................... 4 EXperiential learning ................................... 6 Extracurricular Opportunities ............... 8 STUDENT COMPETITIONS .................................. 9 PARTNERSHIPS .................................................. 10 Commercialization COMPETITIONS ........ 13 YOUTH OUTREACH ........................................... 14 ALUMNI .............................................................. 16 TEACHING & MENTORING .............................. 18 CONTENTS Economic Development Impact UI’s Office of the Vice President for Research and Economic Development provides necessary funding to the University of Iowa’s faculty, staff, and student entrepreneurs. These resources assist the UI entrepreneurs to convert ideas into business plans. Total Seed Funding = $293,250 • Awarded $248,500 to UI faculty, staff, students, and incubator businesses through competitions • John Pappajohn and Equity Dynamics awarded $24,500 to UI businesses through statewide competitions • Jacobson Institute awarded $18,250 for youth competitions • Awarded $2,000 University of Iowa Startup of the Year Awards during the Hawkeye Innovation Summit Grants Awarded through JPEC-Sponsored Competitions = 97 • 378 business proposals were submitted by 309 entrants Outreach • 975 people attended JPEC-sponsored community speaker series • 350 attendees participated in UI’s annual Hawkeye Innovation Summit • 300+ attendees participated in JPEC and SBDC workshops and training programs • JPEC partnered with 65 organizations to accelerate entrepreneurship throughout the region Total Impact • 244 Startups served • 712 Clients assisted • 9,160+ Hours of one-on-one consulting • 365 Estimated jobs created • 9,050 Program participants • $293,250 Seed funding • 3,990 Enrollments Academic Impact Total Enrollment FY2014 • 3,808 undergraduate enrollments • 182 graduate enrollments Entrepreneurship Course Sections Taught = 96 • 55 on-campus courses and 41 online courses Total JPEC Alumni* • 263 in FY2014 • 2,706 to date (since 1997) *Includes: BBA Entrepreneurial Management (Track), Certificate in Entrepreneurial Management, Technological Entrepreneurship Certificate, and Certificate in Performing Arts Entrepreneurship. Bedell Entrepreneurship Learning Laboratory FY2014 To Date (since 2004) Businesses 53 Student Teams 264 Total Participants 86 Total Participants 449 Scholarships Awarded = $22,500 • 17 students received academic scholarships • Scholarships ranged from $500 - $2,500 Youth Impacted = 6,767 • 3,800 high school students impacted by STEM Innovator High School Program • $4,950 awarded in STEM Innovator Teacher Pitch Win • 146 young entrepreneurs attended 5 Youth Summer Camps held in Cedar Rapids, Des Moines, Iowa City, Mitchell County, and Spencer • 674 high school students from 56 school districts entered the Quick Pitch Biz Competition and $8,500 were awarded
  • 3. INTRODUCTION | 3 Photo by Manny Albadab, IMU Marketing + Design DearFriends, Thanks to the outstanding support from our friends and alumni, as well as the University of Iowa and state of Iowa, JPEC significantly expanded entrepreneurship education and outreach services across the statethispastyear.Hereareafewhighlightsofthosenewefforts: •UI Venture School – an advanced entrepreneurship training program based on the Lean LaunchpadandBusinessModelCanvas •UI Innovation Associates – a unique internship program connecting top UI students with Iowa startupandearly-stagecompanies •Summer Accelerator – an initiative designed to accelerate student venture creation through an intensivetrainingandmentoringprogram •STEMInnovator – a program infusing K-12 STEM classrooms with innovation and the entrepreneurialspirit,focusingoncommunitydriven,interdisciplinary,problem-solvingprojects These examples demonstrate JPEC and the university’s commitment to deliver high-quality entrepreneurship education and economic development services to all Iowans. One of the keys to our continued success will be building upon collaborations with our strategic University of Iowa partners, Iowa community colleges, regional and state economic development organizations, successful entrepreneurs,alumni,andfriends.Specialthanksgoouttoallofyouforyourleadershipandsupportof entrepreneurshipeducationandinnovationinIowa. Want to get involved? Please contact me at david-hensley@uiowa.edu. Together, we will work with entrepreneurstoignitetheirpassions,discovertheiropportunities,andlaunchandgrowtheirventures. JPEC – It all starts here! Sincerely, David K. Hensley JPEC Executive Director, Clinical Professor and Associate Vice President for Economic Development New for FY 2015 • Launch of the BA in Enterprise Leadership •Statewide Delivery of UI Venture School • Partnership with the Institute for International Business
  • 4. 4 | JPEC 2014 ANNUAL REPORT Academics: INVESTING IN INNOVATORS AND LEADERS 2014 was an exciting year for the University of Iowa John Pappajohn Entrepreneurial Center (JPEC). As one of the largest entrepreneurial programs in the country, reaching nearly 4,000 students in different majors both online and on campus, JPEC earned national attention this year for its many accomplishments. As a leader in teaching, supporting innovation, and entrepreneurial development, JPEC’s curriculum teaches students critical skills like: strategic planning, negotiation, and financial management from award-winning faculty and entrepreneurs who have funded, managed, and built startups. Early on, UI students convert what they learn in the classroom to real-world application for clients across Iowa, in order to be prepared for their future. ACADEMIC PROGRAM HIGHLIGHTS BBA: Tippie College of Business students can select a major specifically created to teach students about entrepreneurship. WhetherinsideaFortune500companyorrunningastartup,entrepreneurialmanagementmajorswillbewellprepared. CERTIFICATE PROGRAMS: All the certificate programs offer students additional credentials. These programs are a perfect complementtoanyundergraduatedegree. •CertificateinEntrepreneurialManagement •CertificateinPerformingArtsEntrepreneurship •TechnologicalEntrepreneurshipCertificate ONLINE EDUCATION: The online education opportunities allow students across the state and the country to continue their education with the University of Iowa. Through partnerships with many of Iowa’s community colleges, online students can choosefromtheCertificateinEntrepreneurialManagementortheBBAvirtuallyfromanywhere. ACADEMICS “As a JPEC Student Ambassador I had the opportunity to network with dozens of successful entrepreneurs. It was so rewarding to grow in an environment full of like-minded, success oriented individuals.” Derek Brenner, (BBA, Entrepreneurial Management, ’14) Ruokun Yi, IMU Marketing Design
  • 5. ACADEMICS | 5 “We started Translacare with a basic idea about helping people with acquired speech disability (those who have had a stroke, neurological injury, or suffering with Alzheimer’s) communicate better. It was an idea I shared with Rich McCarty and my friend John Slump,” said founder, Ryan Ries (BS, Neurobiology and Linguistics, ’14). “Things started moving. I got a spot in the BELL, wrote a business plan, and started to compete for funds. We won $100,000 from the Iowa Economic Development Authority, and $5,000 from the Pappajohn New Venture Business Plan Competition in 2013. This March, we won $3,000 (3rd place) at the Johns Hopkins Business Plan Competition “I am proud of the fact that we are still connected to all the good people who believed in our idea from the beginning. I came to Iowa to study what interested me… biology and language, and maybe to become a doctor. Translacare was a natural result of my interests.”
  • 6. 6 | JPEC 2014 ANNUAL REPORT brandmessage.Italsowasfunandfulfillingtoworkwith the students and give them experience on a real-world project from an Iowa company,” said Michele Farrell, MeasuredIntentionsandFarrell’sExtremeBodyshaping. ENTREPRENEURIAL CO-WORKING SPACES BEDELL ENTREPRENEURSHIP LEARNING LABORATORY (BELL) More students than ever started successful new businesses while utilizing the Bedell Entrepreneurship Learning Laboratory. In 2015, JPEC will celebrate the BELL’s 10-year anniversary. BELL residents are provided office space and mentoring from JPEC’s Entrepreneur-in-Residenceaswellasopportunitiesfor funding.BELLentrepreneursalsoenjoynetworkingand communityexposure. THINC: INNOVATION AND COLLABORATION LAB For the first time this year, students met in JPEC’s new 5,000, square-foot, collaborative-friendly space. THINC provides space for students in the early stage of business development to meet and consult with business clients. This ideation space offers a 3-D printer and walls of whiteboard space to further illustrate ideas. It also serves as a popular study place during finals week and a location for business plan competitionsandspecialevents.​ EXPERIENTIAL LEARNING IOWA INNOVATION ASSOCIATES (IIA) New in 2014, the Iowa Innovation Associates program paired UI undergraduates and graduates with Iowa businesses, startups, and academic and research organizations. Students received a stipend for their work in project development, market research, product design, social media marketing, and software development. “This summer there were 44 interns at 28 companies across the state. IIA enabled students to apply professional skills along with communication, time management, and leadership,” said Phil Jordan, Tippie business liaison. “IIA presents students with the opportunities that Iowa businesses have to offer and keepstalentedstudentsworkinginIowa,”headded. REAL WORLD MEETS EARLY STAGE IOWA COMPANY ENTREPRENEURIAL MANAGEMENT INSTITUTE (EMI) JPEC’sEntrepreneurialManagementInstitutepresented 55 undergraduate and graduate students with real- world business challenges from Iowa employers this year. EMI students consulted with 42 different Iowa businesses. Student teams performed competitive market analysis and research during the semester and presented their recommendations to each client. “Workingwiththestudentsandfacultymentorsfromthe UniversityofIowaenabledustoconfirmandvalidateour EXPERIENTIAL LEARNING “The thing I know I will take away from IIA is all of the experience it has provided me. I have been put into a situation where I could collaborate on a business plan and put the plans into action. This opportunity provided me with real-life experience starting up a new company, and I could not be more thankful.” Kelsey Feldmann, Intern for Imblim (BA, Interdepartmental Studies, Certificate in Entrepreneurial Management, ’15) MEASURED INTENTIONS: Michele FarrellKelsey Feldmann
  • 7. EXPERIENTIAL LEARNING | 7 “I felt myself drawn to OEI. High stakes ­— even stimulated — and the ability to work in a team that needed every individual member resonated with me.” Lauryn Gordon (BA, Creative Writing, Certificate in Entrepreneurial Management, ’14) VENTURE SCHOOL STUDENT ACCELERATOR This summer, JPEC selected 11 student teams to participateinitsfirstVentureSchoolStudentAccelerator training program. Instead of the traditional eight-week Venture School program, the Student Accelerator was expanded to an intensive ten weeks. Both programs emphasized the Lean LaunchPad method, customer discovery, and market fit. Participating students had a chance to be awarded with $3,000 by meeting certain business milestones and earned three credit hours for completingJPEC’sAdvancedBusinessPlanningcourse. “We are mechanical engineers, and the Summer Accelerator gave us the business skills we needed to makeSpectatorwork,”saidJonMyers(BSEMechanical Engineering, ’16). “Our team started validating our hypothesisandafter40customerinterviews,wehadto makea bigpivot!” I-ENVISION I-Envisionisastudentorganization,withafoundation in entrepreneurship and civic engagement, that is open to students in every major. This year over 60 students participated. “The most rewarding part of I-EnvisionhasbeenallofthepeopleIhavebeenableto connectwithovertheyears,”saidStevenHensley,vice president of I-Envision (BBA, in Business Analytics and Information Systems, Finance, and Certificate in EntrepreneurialManagement,’15). OKOBOJI ENTREPRENEURIAL INSTITUTE (OEI) On August 8, JPEC students traveled to Lake Okoboji for a week-long entrepreneurial simulation game. Students teamed up with business executives and entrepreneurs to develop the most competitive businessstrategies.“Ihadtheopportunitytoattendthe OkobojiEntrepreneurialInstitutelastsummerandmet Kathy Evert, the CEO of Iowa Lakes Corridor. Without attending OEI, I wouldn’t have had the opportunity to see what an amazing place the Lakes Corridor is, and I doubt I would have pursued this job,” said Libby Glaser (BA, Communication Studies, Certificate in EntrepreneurialManagement,’14). OKOBOJI Entrepreneurial INSTITUTE JPEC AMBASSADOR OF THE YEAR Chen Cui (PhD, Computer Engineering, ’15) was named JPEC Ambassador of the Year for his outstanding dedication to the program. Chen was also elected to participate in the National University Innovation Fellowship program for student entrepreneurs hosted at Stanford University. “It is my great pleasure to be involved in the University Innovation Fellowship Program. With the aid of JPEC, I conducted an analysis of UI entrepreneurship landscape. The workshop at Stanford University and Google was eye-opening. I got to know other innovative fellows from over 80 universities across the nation, and worked together with some of them on new venture ideas.” VENTURE SCHOOL, IOWA CITY TEAM STUDENT ACCELERATOR
  • 8. 8 | JPEC 2014 ANNUAL REPORT JPEC STUDENT AMBASSADOR PROGRAM JPEC’s 15 specially selectedstudentambassadorspromotedJPECthrough campuswide events, liaised with high profile alumni and guest speakers, mentored first-year students, and participated in the I-Envision Entrepreneurship Program. “The best part about being a JPEC student ambassador is the numerous opportunities to network with entrepreneurs and business people in the Midwest. You get the chance to listen to them and gain valuable insight,” said Alex Golay (BBA, EntrepreneurialManagementandMarketing,’14). UP Global America Summit The University of Iowa served as the presenting sponsor of the first UP Global America Summit last fall. UP Global is a nonprofit organization dedicated to fostering entrepreneurship, grassroots leadership, and strong communities across the world. More than 200 community leaders from across the country came together for this three-day conference. Through this partnership, JPEC hosted Startup Iowa Town Hall, which featured Scott Case, former CTO of Priceline.com and CEO of the Startup America Partnership, as well as Scott Heiferman, current CEO of Meetup.com and a University of Iowa alum. The Town Hall event brought together nearly 500 students, entrepreneurs, and community builders. LECTURE SERIES Every year JPEC students have the opportunity to hear from entrepreneurial experts. In 2014, JPEC welcomed nationally recognized entrepreneurial author Bob Dorf and former Hawkeye NFL kicker Nate Kaeding. The Sandage Lecture Series featured two dynamic speakers in 2014. UI alum Dale Baker, founder and president of Baker Healthcare Consulting LLC, spoke to 50 students in October, addressing entrepreneurship and how innovation can create new opportunities. Terry Rich, president and CEO of the Iowa Lottery, spoke to a group of 275 in February on “Creating an Innovative Environment.” The John R. Hughes Community Lecture Series, sponsored by Hills Bank and Trust Company, presented Howard O. Hagen of Dickinson, Mackaman, Tyler and Hagen, PC. As a leading expert in banking law, Hagen shared “Banking: The Impact on Business in the Future” with an audience of 200 students. TheBenS.SummerwillLecturewassponsoredby MidWestOne Bank in March. This lecture featured UI alum Kevin O’Brien, president and owner of Creative Management, Inc. (dba McDonald’s). Kevin presented “Intrapreneurship Under the Golden Arches: One Family’s 50-Year Journey with McDonald’s” to 450 students. In his speech, he shared how his family has built their business, and McDonald’s impact on the way people eat. Extracurricular Opportunities JPEC Student Ambassadors and terry rich Alex Golay The I-Envision team with John Pappajohn Kevin O’Brien: Speaker at the Lecture Series EXTRACURRICULAR OPPORTUNITIES
  • 9. EXPERIENTIAL LEARNING — COMPETITIONS | 9 Rose Francis Student Elevator Pitch Competition Open to UI undergrad students (52 entrants) $5,000 GRID Detetion Systems (Kevin Crews, Blake Trempy, Sean Tavakoli) $5,000 Safe Place (Lauren Aguilar, Nicholas Aguilar, Kelsey Smithart, Anthony Pham) $2,500 The Mobile Bra Shoppe (Elise Froh) $2,500 Pivotal Reversible Watchbands (Michael Whetstone) $1,000 Tinderbox (Lauryn Gordon, Yuuki Matsuyama) $500 Train Protean (Austin Harris) $500 Swvl Shkr (Connor Keane) $500 Widespread Threads (Jerid Schumacher, Taylor Grote) $500 Project Soapbox (Caroline Altenbern) $1,000 Beards for Boobies (Corey Collins, Storm Vaske, Michael Greeby) — Keith Starman Entrepreneurial Award $1,000 Launch Services (Gerry Redlinger, Luke Haverkamp) — Keith Starman Entrepreneurial Award Bedell Entrepreneurship Learning Laboratory (BELL) in End-Of-Semester Competition Open to UI students in the BELL (14 entrants) Judges’ Choice: $1,500 Tinderbox (Lauryn Gordon, Yuuki Matsuyama) $500 AiCheng Magazine (RuiHao Min) $500 Tim’s Studio (Yuxuan Zhang) $500 Widespread Threads (Jerid Schumacher, Taylor Grote) People’s Choice: $500 Tim’s Studio (Yuxuan Zhang) Volding Business Plan Competition Open to UI undergraduate students graduate students (20 entrants) $5,000 Real Property Intelligence (John Nicholson) $3,000 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn Engelbart, Kaitlyn Roth) $2,500 Edible Innovations (Ruihao Min, Jiang Mang, Xiao Xuan Fang) $2,000 Launch Services (Gerry Redlinger, Luke Haverkamp) $1,500 Ruminate (John Raid) $1,500 Safe Place (Kelsey Smithart, Lauren Aguilar) $1,500 Kar(a)te (Soley Thornsteinsdottir) $1,000 Girl the World Over (Simone Renault) $1,000 Tinderbox Studios (Lauryn Gordon, Yuuki Matsuyama) $1,000 Translacare (Ryan Ries) BELL Business Fair/Year-end Competition Open to UI students in the BELL (38 entrants) Judges’ Choice $3,500 Blue Cheese (Ruihao Min, Ming Jiang) $1,500 Farm Manuals Fast (Tyler Finchum) $1,500 QC Med Tech (Edward Mwenda, John Seeley) $1,500 Pivotal Watchbands (Michael Whetstone) People’s Choice $2,000 Blue Cheese (Ruihao Min, Ming Jiang) HubertE.StorerEngineeringStudentEntrepreneurialStart-upAward Open to UI College of Engineering students (7 entrants) $7,500 Real Property Intelligence (John Nicholson, Lee Nicholson, Bailey Smith) Pappajohn New Venture Business Plan Competition Open to UI regional and statewide winners (20 entrants) UI Regional Regional Finalist, $1,000 Real Property Intelligence (John Nicholson) Regional Finalist, $1,000 Edible Innovations (Ruihao Min, Jiang Mang, Xiao Xuan Fang) Regional Finalist, $1,000 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn Engelbart, Kaitlyn Roth) Regional Winners 1st Place, $5,000 Real Property Intelligence (John Nicholson) 1st Place, $5,000 Edible Innovations (Ruihao Min, Jiang Mang, Xiao Xuan Fang) Finalist, $500 Sleak Sheath (Justin Reynolds, Pranav Sharma, Jacklyn Engelbart, Kaitlyn Roth) Idea Storm Pitch Competition Open to UI graduate and undergraduate students (60 entrants) $500 Fake Drug Tester (Edo Mwenda) $500 Parking Ramp Indicators (Tim Zhang) $300 Bike MD (Julian Valencia) $300 Drone Security Service (Stephen McEleney) $200 Colleigo.com (Ruihao Min) $200 Energy Generating Interactive Public Art (Heidi Zenisek) 3-Day Startup Pitch Competition Open to UI undergraduate and graduate students (30 entrants) $1,250 Speeko (Nicholas Aguilar, Lauren Aguilar, Phil Wirtjes, Scott Hurtgen, Michael Covello) $750 Boomer Network (Arabella Franze-Soeln, Magdalena Franze-Soeln, Maximilian Franze-Soeln) Student COMPETITIONS ui startup of the year $1,000 Higher Learning Technologies (Adam Keune, Alec Whitters, Ben O’Connor) ui STUDENT startup of the year $1,000 Translacare (Ryan Ries) AWARDS AND RECOGNITION
  • 10. 10 | JPEC 2014 ANNUAL REPORT IOWA MEDICAL INNOVATION GROUP (IMIG) The Iowa Medical Innovation Group program paired College of Engineering, Carver College of Medicine, Tippie School of Management, and College of Law studentstoallphasesofmedicaldeviceandtechnology development. Projects were submitted and students conducted a needs assessment to indicate the market potential, current competition, and overall potential of their idea. In 2014, 35 IMIG participants developed 3 new venture projects. “I like collaborating with students. While I might have a good medical idea, I don’t necessarily know the intricacies behind the engineering aspects or patent searches,” said IMIG member Cody Connor (third-year medical student, UIHC). Cody’s team, BlO2dWorks, created a more efficientoximeterforhospitaluse. SOCIAL JEWELRY STARTUP Imblim was launched through the Bedell Entrepreneurship Learning Laboratory (BELL) by Anna Bruno (MA, Fiction Writing ’17), who created a social jewelry startup. “Imblim is an e-commerce jewelry experience that relies on social sharing to thrive.Callitaviraljewelrybusinessduetoitsmessage — it lets you tell your story,” she said. Imblim’s pieces have specific significance and meaning, which is shared when given as a gift. Imblim won $2,000 in the Iowa Centers for Enterprise (ICE) Elevator Pitch Competition last fall, and Anna credits her success to theresourcesofferedthroughtheBELL. Engineering Startup of the Year Real Property Intelligence LLC, co-founded by brothers John Nicholson (PhD, Simulation Based Engineering, ’15) and Lee Nicholson, aims to revolutionize the way real estate appraisals take place by using Real Property Probability Prediction (Real P3). Real Property Intelligence LLC won the Hubert E. Storer Engineering Student Entrepreneurial Start-up Award and $7,500this year. “Real Property Intelligence, LLC empowers real estate investors with information to improve their return on investment, provides real estate agents withanobjectivesecondopiniononvalue,andgives individual homeowners peace of mind that they are paying a fair price for their home,” said John. ACCELERATING OPPORTUNITIES, APPLIED RESEARCH INNOVATIONS PARTNERSHIPS Anna BrunoCody Connor John Nicholson
  • 11. Partnerships The UI Office of the Vice President for Research and Economic Developments directs UI economic development and technology commercialization activities at Iowa. JPEC works closely with this organizationtosupportentrepreneursastheystartand growtheirbusinesses. Small Business Development Center (SBDC) TheUniversityofIowa’sSmallBusinessDevelopment Center continues to provide outreach initiatives and educational offerings to Iowa entrepreneurs. Last year the SBDC held 11 workshops and training seminars for 198 people. Paul Heath and his team counseled a total of 245 clients. As a result, 24 new businesses were created along with 91new jobs. Carrie Van Orden, who recently launched her cycling businessMaxEffectsaid,“IcouldnothavestartedMax Effect without the help of the SBDC. They provided an in-depth analysis of my business plan and financial forecasting to help me find the funds to begin. Being an owner of a business is not work, but a privilege and an honor. I get to have a very positive impact on people’s lives. I would not be here without the SBDC. TheSBDCgavemethetoolsIneeded,”saidCarrie. REGIONAL BUSINESS INCUBATORS Iowa City Area Development (ICAD) manages two co- working spaces. Incubators in Iowa City and Coralville provideuniqueworkingspacetoemergingandexisting business for a day, month, or a year. The IC CoLab was Mazira’s(astartuplaunchedintheBELL)introduction to the startup ecosystem. “We made new connections, acquired new contracts, and friendly advice is always just around the corner,” said Mazira CEO Anith Mathai, (MS, BioMedical Engineering ’05), resident of IC CoLab. The Vault co-working space, run by Seed Here in downtown Cedar Rapids, offers a placewhereideasgrowandentrepreneursthrive. UNIVERSITY OF IOWA RESEARCH PARK For 25 years, the University of Iowa Research Park has provided essential resources to technology startups. The enterprises at the UI Research Park maintain dynamicrelationshipwiththeUniversityofIowafaculty (physicians, engineers, and scientists) and lease space inastate-of-theartbusinessincubator. BIOVENTURES CENTER The BioVentures Center is a business incubator providing cost-effective wet lab space to new life science ventures. This incubator and partnership with the UI were among the first in the nation when it was established in 1984. The BioVentures Center has fostered almost 100 UI new enterprises. TECHNOLOGY INNOVATION CENTER (TIC) The Technology Innovation Center provides office space and a nurturing business environment to new technology startups. This facility’s focus is to provide a space to startups developing new technologies. New ventures with high-growth potential can maintain partnerships with UI faculty and counsel for financing andcommercialization. PARTNERSHIPS | 11 NEXT STEPS colab Max Effect: Carrie Van Orden bioventures center
  • 12. 12 | JPEC 2014 ANNUAL REPORT OUTREACH AND PARTNERSHIPS PARTNERSHIPS Venture School In its first year, Venture School has helped 37 entrepreneurs hone their business plan through the business model canvas and customer discovery research. “Venture School is a program that is designed to accelerate the startup process. In eight weeks, students are encouraged to go out and talk to as many customers as possible and to validate their business model canvas,” said Jennifer Ott, JPEC training and engagement liaison. Immortagen LLC is a startup that was named Best Business Opportunity in the Spring 2014 Venture School cohort. The team of four founded the business, which aims to provide personalized cancer treatment based on predictive algorithms. Immortagen LLC applied to the Venture School program to gain expert mentoring. “JPEC Venture School allowed us to bond as an entrepreneurial team and to work together with senior mentors to discover our customers,” said Immortagen co-founder Kristina Thiel, PhD. “Since our team is comprised of scientists, the hypothesis-driven approach of the Lean LaunchPad method used in Venture School resonated with us. Through Venture School, Immortagen LLC has a new and much more comprehensive business model and is substantially closer to launch.” Hawkeye Innovation Summit Innovation: the act or process of introducing new ideas, devices, or methods Innovation is the key to entrepreneurship, and JPEC sponsored or hosted two major innovation events this year: the Innovation EXPO held in Coralville and the Hawkeye Innovation Summit in Iowa City. Innovation EXPO TheInnovationEXPOdrewacrowdofover600people.Thekeynotespeaker and University of Iowa alum Scott Heiferman, the CEO of Meetup.com, led theStartupIowaTownHall.TheEXPOalsoprovidedaconcurrentSeedand Venturepitchsessionsfor9localstartups,andtheTechnologyAssociation of Iowa’s Pitch and Grow event featured 16entrepreneurs who presented business ideas to a think-tank. The Innovation EXPO has expanded to become one of Iowa’s largest entrepreneurial events. Hawkeye Innovation Summit This spring marked the second year for JPEC’s Hawkeye Innovation Summit. Over 350 people attended this day-long celebration of entrepreneurship and innovation. The Hawkeye Innovation Summit featured panel discussions with prominent community entrepreneurs, varied breakout sessions, and a keynote address from Bob Dorf, co- author of The Startup Owner’s Manual. Dorf’s idea of the Business Model Canvas and Lean LaunchPad methodology are featured in JPEC’s Venture School. The final round of the UI Business Model Competition was also hosted during the event, with companies pxAlpha and System Prognostic LLC each winning $11,000. Second-place winner of $8,500, Iowa Adaptive Technologies, competed in the International Business Model Competition hosted at BYU and won an additional $5,000.
  • 13. PARTNERSHIPS — COMPETITIONS | 13 Commercialization Competitions Iowa Centers for Enterprise Elevator Pitch Competition Open to UI graduate students, faculty, staff, BELL tenants, and UI Research Park tenants (54 entrants) $6,000 Trosen Pneumatic Systems (Lawrence Trosen) $3,000 MedDev Enterprise (Samantha Miller, Kevin Johnson, Eric Dinges, Ellen Gardner) $2,000 Imblim (Anna Bruno) $2,000 Pure Oleochemicals (Ned Bowden, Abhinaba Gupta, Andrew Meyer) $2,000 RAMDO Solutions LLC (Kyung Choi, Nicholas Gaul, Hyunkyoo Cho) $2,000 Real Property Intelligence (John Nicholson) $2,000 SavviFit (Jean Prahm) $2,000 Zhendong Jin (Zhendong Jin) $1,000 NaturemiRI (Brad Amendt) $1,000 DJB Entertainment Rentals (Jay Brown) $1,000 Experience Nonfiction (Blair Braverman) $1,000 Grade A Speaker Co (John Malone) $1,000 Immortagen (Kimberly Leslie, Donghai Dai, Kristina Thiel, Baoli Yang) $1,000 Iowa Adaptive Technologies (Benjamin Berkowitz, Richard Hurtig) $1,000 Iowa Approach Inc. (Eric Sauter, Steven Michelson, Trena Thome) $1,000 pxAlpha (Ryan Flynn, Blake Dirksen) Iowa Pappajohn Business Plan Competition Open to Iowa startup businesses (16 entrants) $10,000 Memcine (Tony Vanden Bush, Kate Holt) Finalist Higher Learning Technologies (Adam Keune, Alec Whitters, Ben O’Connor) Finalist TelePharm (Roby Miller) Regents Innovation Development fund Proposal competition Open to UI Research Park tenants (19 entrants) $20,000 pxAlpha (Blake Dirksen, Ryan Flynn) $15,000 Componica (Steven Mitchell, Justin Evans) $15,000 BioPrint (Ibrahim Ozbolat) $10,000 Accelagrant Consulting (Chris Rogers, Jeff Neighbors) $10,000 Exemplar Genetics (Chris Rogers) $5,000 Innovas Technologies (Chuck Dirks) Business Model Competition Open to UI faculty, staff, students, UI Research Park, BELL tenants (35 entrants) $11,000 pxAlpha (Blake Dirksen, Ryan Flynn) $11,000 Systems Prognostic LLC (Bruce Ayati) $5,000 BlO2dWorks (Samantha Miller, Eric Dinges, Ellen Gardner, Kevin Johnson, Elizabeth Winter) $13,500 Iowa Adaptive Technologies (Ben Berkowitz, Richard Hurtig) — Finalist for International BMC at Brigham Young (+$5,000) $3,500 Translacare (Ryan Ries) $3,500 Imblim (Anna Bruno) $3,500 Okara Food Company (Hannah Johnson, Matt Mesaros, Joshua Draves-Kellerman, Jake Gratzon) $3,500 Safe Place (Kelsey Smithart, Lauren Aguilar) $3,500 Widespread Threads (Jerid Schumacher, Taylor Grote) $2,500 Real Property Intelligence (John Nicholson) $2,500 Syruption (Carter Yerkes, Noah Kirschbaum, Tyler Lubbs) $1,000 Spectator (Jon Myers, JD McCollough, Brandon Keifer) $1,000 Launch Services (Gerald Redlinger, Luke Haverkamp) $1,000 Boomer Network (Arabella Franze-Soeln, Magdalena Franze-Soeln, Maximilian Franze-Soeln) $1,000 Edible Innovations (Ruihao Min) Prometheus Award (Technology Association of Iowa) TOP GROWTH COMPANY OF THE YEAR Higher Learning Technologies BREAKOUT AWARD Alec Whitters CEO OF THE YEAR Alec Whitters TOP GROWTH COMPANY OF THE YEAR MediRev CEO OF THE YEAR Chris Klitgaard Regional/National Competitions INTERNATIONAL business model competition Semi-Finalist – $1,000 Iowa Adaptive Technologies (Ben Berkowitz, Richard Hurtig) johns hopkins UNIVERSITY BUSINESS PLAN COMPETITION 3RD PLACE TranslaCare (Medical Technology and Life Sciences Undergraduate Track, Ryan Ries) RICE BUSINESS PLAN COMPETITION Houstonbusinessjournal leadershipaward-$3,000 University of Chicago trading competition Arbitrage Case: 7th MJ Capital (Jhon Roa, Michael Kirchner) Options Case: 17th Place MJ Capital (Jhon Roa, Michael Kirchner) Math Case: 18th Place MJ Capital (Jhon Roa, Michael Kirchner) VIETNAM TALEN COMPETITION 3RD PLACE $1,500 SnapNSee (Tung Phan Hoang, Hung Viet Tran) Iowa Approach Inc. (Eric Sauter, Steven Michelson, MD, Trena Thome)
  • 14. 14 | JPEC 2014 ANNUAL REPORT INSPIRING FUTURE ENTREPRENEURS YOUTHOUTREACH New curriculum for teaching entrepreneurship in high schools Through a program developed by the Jacobson Institute for Youth Entrepreneurship, high school teachers now have an affordable, resource-packed, online entrepreneurship curriculum at their fingertips. Previously called YouthBizCentral, the program is revamped, improved, and renamed BizInnovator.com. Not only does the program have a new name and improved look, but the resources included have all been updated and enhanced (8 customizable units, video profiles of young entrepreneurs, student business planning template, activities, web sources, unit plans, assessments). Educators can visit BizInnovator.com and sign up for free access to Unit 1 and to learn more. QuickPitchBizCompetition The Quick Pitch Biz Competition is open to any Iowa high school student and had 674entries this year. The top 6finalists compete in the Statewide Competition and a total of $8,500in seed capital is awarded. Logan Manders, Wahlert High School senior from Dubuque,Iowa,wastheStatewideQuickPitchwinner andreceivedatotalof$2,000inseedcapital.Hislatest product, Manders Chicken Tractors, features mini, moveablechicken coopsmadeforusewithincities. “By thinking like an entrepreneur, you think of problem-solving and ways to help people that will affect everyone in a positive way,” says Logan. Logan said he values the experience and feedback he gained from the Quick Pitch Biz Competition and is now using that feedback to further improve his business. With his winnings, Logan intends to open a company bank account, create marketing materials, improve his equipment, and sell his product at the county fair. Austin Dunbar, 1st Place, Spring Competition Kayla Kearns, 1st Place, Fall Competition Sydney Rieckhoff, Honorable Mention, Spring CompetitionLogan Manders, Statewide Winner Photo credits: Shuva Rahim / Accent Photographics INSTITUTE JACOBSON FOR YOUTH ENTREPRENEURSHIP The University of Iowa
  • 15. CollegeS of Business and Education partner Over the past year, the Jacobson Institute and the CollegeofEducationbeganapartnershipworkingto infuse K-12 STEM classrooms across the state with an entrepreneurial spirit, focusing on community driven, interdisciplinary, problem-solving projects. The STEM Innovator initiative, organized by Dawn Bowlus, director of the Jacobson Institute, and Leslie Flynn, clinical assistant professor of science education, led to a number of new opportunities and accomplishments over the past year, impacting 3,800 students. “We’re bringing together a lot of knowledge about how business works with knowledge of how education works,” said Dawn. “We have the same mutual goals but how we go about getting there is different, and I think that benefits us.” As the team looks forward to the next group of teachers participating in the STEM Innovator Institute, the first group of high school students to participate, and a year full of further collaboration and learning, they continually strive to maintain the University of Iowa’s standing on the forefront of STEM innovation and entrepreneurship. “It’s a national movement that we not only want Iowa to be part of, but we want to lead when it comes to infusing entrepreneurship in a STEM classroom,” said Leslie. “We’re pushing the boundaries, and we’re part of just a handful of people doing it nationally.” FY2014 AT A GLANCE: YOUTH OUTREACH OVERALL IMPACT YOUTH OUTREACH | 15 STEM Innovator is projected to impact over 10,000 secondary students in year 2 • 146elementary and middle school students attended entrepreneurship camps in 5locations statewide. • A total of $18,250in seed capital was awarded. • 2,043students and 948 teachers used bizinnovator curriculum. •6,767students were impacted through youth outreach initiatives. • 31,909students have been impacted through youth outreach initiatives since 1996. • 5,327 students have used the bizinnovator curriculum since 2009. Leslie Flynn and dawn bowlus STEM Entrepreneurship Institute Photo Credit: Mei-Ling Shaw Williams/UI College of Education; Ruokun Yi/IMU Marketing + Design
  • 16. 16 | JPEC 2014 ANNUAL REPORT WHAT DID YOU TAKE WITH YOU? ALUMNI Tyler Rustin BBA, Certificate in Entrepreneurial Management,’12, Business Development Representative, Phunware Inc., Austin, TX “I started MyCollegeHomePage while I was a student at the BELL. I got lots of support and want to give back to other students in a similar position now. I had great mentors, and I would be happy to mentor other students.” Annie Vitale BBA, Marketing, Certificate in Entrepreneurial Management, ’08, Founder, Father-Daughter Scholarship in Memory of Richard J. Meyer, Indian Head Park, IL “‘Be Remarkable.’ That was the challenge the University of Iowa instilled in me from my first day on campus. The College of Business, and JPEC in particular, gave me the knowledge, discipline, and dedication to launch a scholarship program in memory of my father. Through the Father-Daughter Scholarship in Memory of Richard J. Meyer (FatherDaughterScholarship.org), I have been able to grant 40 scholarships totaling over $22,000 since 2003.” Jonathan Chaparro BA,CommunicationsStudies,Certificatein EntrepreneurialManagement,’08,President ofI-Envision2007-2008, DirectorofMidwest RegionalRecruitment,TeachforAmerica, Chicago,IL “The relationships I developed through my involvement with I-Envision: Students In Free Enterprise, continue to be a bedrock. Not only do they continue to be colleagues and a part of my professional network, they really have become dear friends. It’s been amazing to see how connected we’ve all remained despite our increasingly hectic schedules and ever-growing travel commitments. To this day, we fondly remember our efforts to plan the Hensley Invitational, our presentations for the SIFE Nationals, and our volunteer work with Uptown Bill’s.” Katie Bonk Zittergruen BA, Communication Studies, Certificate in Entrepreneurship, ’08, Project Manager, Walgreen Co., Chicago, IL “The JPEC program was an opportunity to experience the entire business program at the university. It taught me the fundamentals for what it takes to become successful and the hard work required to succeed whether that is a corporate job or starting your own company. The biggest takeaway was the ability to think creatively regardless of the situation in order to come up with the optimal solution. This is something I use not only in the business world but also the real world when working through important decisions.” Brad Phillips BBA,Management,Certificatein EntrepreneurialManagement,’07,Partner, BPWFinancialGroup,DesMoines,IA “The biggest thing that I took away from JPEC was the relationships. I learned that connections are the most important thing I can have. Once you have support and that first feeling of ‘I can do that,’ you can do anything.” William Kyzer BA, English, Certificate in Entrepreneurial Management, ’10, Business and Economic Developer, Anchorage Economic Development Corporation, Anchorage, AK “The Entrepreneurial Management Institute was one of the most impactful elements of my education at the University of Iowa. The networking I’ve done through EMI has been extremely useful.”
  • 17. ALUMNI | 17 Where Are You Now? Tell us at www.iowajpec.org Amanda Boelyn BA, Finance, Certificate in Entrepreneurial Management, ’10, Boelyn Consulting, Chicago, IL “One thing that I loved [about JPEC] is that it was so hands on. You actually leave with real-life experience. We also had the most experienced professors, like Rich McCarty who had so much advice to offer. Entrepreneurs are calculated risk takers, so having the support from the professors was great.” Tyler Zittergruen BBA,Finance,CertificateinEntrepreneurial Management,’08,Director,ParkHillGroup LLC,Chicago,IL “JPEC gave me the foundation to be successful in the corporate world. It gave me a better understanding on the intricacies of a business, and it also taught me the underlying fundamentals in regards to accounting, finance, management, and marketing. The skills and values I learned through JPEC I utilize not only in the corporate world but also in my daily life. The hard work and dedication to succeed that was taught to me throughout my course work has allowed me to use those skills in my everyday life.” Kristina Nemetz BA,CommunicationStudies,CertificateinEntrepreneurial Management,’05,SuperintendentofMarketingSpecial Events,WheatonParkDistrict,Wheaton,IL “The real-life examples and applications, especially in regards to business plans and financial projections, have had a huge impact on my professional life. In meetings or when presenting at conferences, employees 20+ years older than me are shocked by my in-depth understanding of business planning, budgeting, and understanding of financial documents. Thanks, JPEC!” J.R. Textor BA, Communication Studies, Certificate in Entrepreneurial Management, ’04 Commercial Leasing and Property Manager, Hubbell Property Management, Des Moines, IA “Entrepreneurship has played a key role in my career as a commercial real estate broker with CBRE/Hubbell Commercial. The skills I developed at JPEC have also helped me excel in my current role as the commercial leasing manager and property manager with Hubbell Realty Company. Having an entrepreneurial spirit is important, and I leverage my education received at JPEC all the time.” Erin Glidden BBA,Marketing,Certificatein entrepreneurialManagement, ’09, DevelopmentDirectorfortheBoyScoutsof America,Omaha,NE “I need to be creative and innovative at my current job. JPEC helped me think outside the box.” Jean Prahm BAS,Entrepreneurship,CertificateinEntrepreneurialManagement,’12, Two-timeOlympicBobsledderandCreatorofMommyHips, Iowa City, IA “Taking my first entrepreneurship course actually inspired my business [MommyHips]. I always wanted to own my own business, but I didn’t know what yet. My professor encouraged us to think of a personal problem that you had that could be fixed. That is the key to entrepreneurship — finding new ways to solve problems more efficiently.” I-ENVISION 2006–2007
  • 18. “When you see the light bulb turn on and the student finally understands a concept — that is whenit’smostrewarding.Learning from lecturers with real-world experience is a great opportunity forthestudentstogetahandleon whatitisreallylikeintheworldof entrepreneurship.” KevinKrause,JPECFull-TimeLecturer full-timeLecturersLecturers are the heart of mentoring at JPEC. They teach and inspire students through JPEC courses, and prepare them for their future in the world of business and entrepreneurship. Kurt Heiar, JPEC lecturer, lead instructor for Venture School, and BELL Entrepreneur-in-Residence, said that the most rewarding part about being a lecturer for JPEC was seeingthetransitionbetweenwhatthestudentlearned inclassandapplyingitintheirbusiness.“Whenstudents are able to translate lecture material to personal skill sets,thatiswhatisexcitingtosee,”saidKurt. Entrepreneurs-in-residence This dedicated group of entrepreneurs is passionate about imparting their knowledge of business and extensive business experience to students who work in the Bedell Entrepreneurship Learning Laboratory (BELL). “I was a student entrepreneur at the University of Iowa, so it’s rewarding to give back what the university gave me,” said Entrepreneur-in-Residence Keith KURT HEIAR BLAKE RUPEKEITH CHIAVETTA Chiavetta. Keith worked with five student groups duringthespringsemesterandmentoredthreeteams over the summer. One of his first students through Entrepreneur-in-Residence was recent graduate Blake Rupe, who created and marketed her own competitive recycling application called ReAPP, which was featured in the Des Moines Register and other national publications. “I am incredibly lucky to have received mentorship from Keith during this process. Keith has extensive experience in running, managing, and advising businesses but also in running app development companies. He wasn’t afraid to advise mewhenmyideasneededmoretimetodevelop. This was crucial to my success, honestly, because I knew thatwhenhetoldmethatanideaoramovewasagood idea,hewasn’tsayingittofluffupmyegooranything. He really was an incredible adviser and mentor,” said Blake (MA, International Studies with a focus on Latin AmericanMarineConservationandPolicy,’14). Your entrepreneurial experience is valuable to JPEC students. Please consider coming back to campus to judge a business plan competition or to mentor a student startup. There are many ways you can connect. Join us to speak to students at THINC or the BELL. Support JPEC by providing necessary funds for entrepreneurial speakers to address studentorganizationsorourJPECstudentbody(groupsvaryingfrom70to1,000).ComebackforHomecomingoroneofourcelebratedinnovationevents.Attendorsponsor a networking event, where students can make new connections with business and industry experts across Iowa. Your time and financial support is valuable to everyone at JPEC. Your contribution allows JPEC to grow and create more entrepreneurs. Go to our website, www.iowajpec.org, and like us on Facebook.com/Entrepreneurship.at.Iowa and follow us on Twitter at Twitter.com/iowajpec. CONNECTING WITH STUDENTS Teaching MENTORING 18 | JPEC 2014 ANNUAL REPORT TEACHINGMENTORING KEVIN KRAUSE
  • 19. HIGHLIGHTS | 19 JULY SEPTEMBER NOVEMBER JANUARY MARCH MAY AUGUST DECEMBER FEBRUARY APRIL JUNE OCTOBER Jacobson Youth Entrepreneurship Academy Camps: DSM, IC, CR Six-Week Startup ICE Elevator Pitch Workshop and Competition; Venture School, Iowa City; Idea Storm; Introduction to Ruby and Python Workshop Project Hope; Dev/Iowa Bootcamp, Iowa City; Elementary STEM Teacher Training, Jacobson Institute; ICACC with Keynote by Dan Reed BusinessModelMentoringandCompetition; MidWestOneLecture;LeanLaunchpadWorkshops; CorporateInnovationTraining;HawkeyeInnovation Summit;VoldingBusinessPlanCompetition StatewideJohnPappajohnNewVentureBusinessPlan Competition;BELLBizFairandSpringAwards;JPEC BoardMeetingandNetworkingReception;EntreFest, IowaCity;Commencement;StudentAccelerator BELL Open House and Kickoff Rose Francis Elevator Pitch Competition; Fall Awards Winter High School Teacher Collaboration, Jacobson Institute; Technology Commercialization Entrepreneurship at UI; Sandage Lecture; Six-Week Startup; Business Model Competition Mentoring Hawkeye Innovation Awards; Venture School, Iowa City; Pitch and Win STEM Festival, Jacobson Institute; 3-Day Startup Bootcamp; Cedar Rapids/Iowa City Job Crawl Dev/Iowa Bootcamp; Jacobson Institute Youth Entrepreneurship Camps, Cedar Rapids THINC Grand Opening; Homecoming; Annual JPEC Board Meeting; Hughes Lecture; Creative Week; UpGlobal; Innovation Expo; Startup Stories; Sandage Lecture; Iowa Startup Town Hall FY2014 Highlighted
  • 20. David Hensley Lynn Allendorf Dawn Bowlus Paul Heath Executive Director and Clinical Professor Director, JPEC Bedell Entrepreneurship Learning Laboratory Director, Jacobson Institute for Youth Entrepreneurship Regional Director, Small Business Development Center Phil Jordan Jennifer ott Amy Jo Reimer-Myers patricia weiland Tippie Business Liaison JPEC Training and Engagement Liaison Associate Director, Educational Outreach Accountant Patricia Whidby Allison Winter Ashley Zierath devyn alexander Department Administrator Program Coordinator, Youth Initiatives Digital Marketing and PR Manager Event Coordinator Tom Bedell John Buchanan Barry Butler Tom Cardella CEO, Two Old Hippies Founder, RBP; a Marsh McLennan Company UI Executive Vice President and Provost President, Thomas L. Cardella Associates Sarah Fisher Gardial Richard Jacobson Kevin Krause Sally Mason Dean, UI Henry B. Tippie College of Business Founder Chairman Emeritus, Jacobson Companies Senior VP Marketing, Carson Group President, University of Iowa John Pappajohn Daniel Reed Jean Robillard Don Schoen President, Equity Dynamics Inc. UI Vice President for Research and Economic Development UI Vice President for Medical Affairs Founder CEO, BettrLife Alec Scranton Dennis Sparks Dean, UI College of Engineering Director Global Logistics and Supply, Pfizer Inc. Ben Anderson joe cortese Jared Garfield josh krakauer Founder, Bandwidth Pool Managing Director, Vilas Capital Management LLC Co-founder CTO, Corvida Medical CEO Co-founder, Sculpt John Mickelson Patricia Miller roby miller ravi patel Founder and Managing Partner, Midwest Growth Partners Chief Strategy Officer, Matrix IV Founder, TelePharm Principal and President, Hawkeye Hotels Brad Phillips Anne Price Stacey Rodenkirk Tim Rypma Partner, BPW Financial Group Nanny Project Manager, International SOS Manager, R.E. Properties LLC John Slump Jason Trout Zac Voss Laura Westercamp Co-founder CFO, Corvida Medical Co-founder, Good Blogs President, Voss Distributing LLC Management Consultant, Accenture STAFFADVISORYBOARDALUMNIBOARD 108 John Pappajohn Business Building, Suite S160 | Iowa City, Iowa 52242-1994 facebook.com/Entrepreneurship.at.Iowa | twitter.com/iowajpec www.iowajpec.org | (319) 335-1022