Experienced Entrepreneurs Jump-Start Illinois Tech Student Startups

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Starting a farm in 电车无码鈥攏ot in the suburbs or even on the outer reaches of the city limits, but in the heart of its neighborhoods鈥攎ay not make a lot of sense on first glance due to the effort and cost it takes to regenerate the land on which they are located.

When you listen to Ashley-Marie Sutherland describe the idea to start a series of micro farms in 电车无码, though, it鈥檚 easier to see its potential to be a viable business. It offers a much-needed service to urban communities.

鈥淭he need is in areas that have vacant lots, blocks that are medium to large size, about half an acre to two acres,鈥 says Sutherland, a second-year law student at 电车无码-Kent College of Law. 鈥淣ormally you would not put a farm there, but we鈥檙e going to put little farms there, with the idea being able to feed this set of people within a certain radius.鈥

Turning an inventive idea like Sutherland鈥檚 micro farms into a full-fledged business is no easy task. The Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship aims to help Illinois Institute of Technology students put their business concepts within reach with a new experiential entrepreneurship program.

The Kaplan Institute鈥檚 Membership Program launched on January 25, and it is taking 23 student teams through a six-month business accelerator. In it, student-driven teams are paired with faculty and industry experts who help lead them through eight learning modules and, ultimately, prepare qualified teams to pitch their solutions to investors. A key component of the program is to match the student teams with experienced mentors who have commercialized a product in the same market as the students鈥 startup. 

鈥淚鈥檓 trying to leverage my experience in starting companies to make it a little more real for these entrepreneurs and to give them some real-world anecdotes about what we鈥檝e seen and what鈥檚 worked in the past,鈥 says Corbett Kull (M.B.A. 鈥98), the co-founder and chief executive officer of Tillable, a company that connects farmers with land, and a mentor for Sutherland.

Kull, who has started four companies, adds, 鈥淚t鈥檚 never easy. Maybe the biggest role we play is trying to be a cheerleader as they try to grind their way to success.鈥

At the end of the university鈥檚 spring 2021 semester, up to seven of the student teams participating in the program will be selected to take part in Pitch@IllinoisTech for a chance to win up to $30,000 in prize money. A student-run business plan competition, Pitch@IllinoisTech features professionals from venture capital firms, corporate partners, and members of Illinois Tech鈥檚 Board of Trustees as judges. It serves as just one benchmark of success for those participating in the program.

鈥淚 really was interested in receiving access to mentorship and being involved with the Illinois Tech community,鈥 says Omar Hernandez, a third-year graduate student studying data management and analytics. 鈥淚t has a long history of innovative ideas and a long history of entrepreneurs, so I wanted to potentially connect with other like-minded people.鈥

Like Sutherland, Hernandez was picked to take part in the first cohort of the Membership Program. His business idea, PRSPCTVS, aims to create software for independent restaurants and small retail businesses that would help them understand their sales and expenses on one platform.

Hernandez has already begun to see exactly how the Membership Program can help him turn a cutting-edge idea that impressed judges during Kaplan Institute鈥檚 Innovation Day in December 2020, where it was selected as a winner, into a full-fledged business. His mentors include Illinois Tech Senior Instructor of Computer Science Michael Lee; Fady Hawatmeh, the chief executive officer of the artificial-intelligence software startup Clockwork; and Matthew Doubleday, senior vice president and chief marketing officer of Wintrust Financial Corporation.

鈥淭he conversations that I鈥檝e had so far have been great,鈥 Hernandez says of his experience working with his mentors. 鈥淚鈥檝e gotten a lot of insights from the people I鈥檝e spoken with, and they provided so much feedback for us to go back and tweak our business models to determine whether or not we鈥檙e on the right path.鈥

Mentors meet with the student-led teams for one hour each week. Lee says the idea is, as mentors, not to do any work for the teams, but to apply their backgrounds as entrepreneurs and experts in their particular fields to provide guidance.

鈥淲e鈥檙e trying to lend some credence to their idea, their direction, and are also serving as a point of contact for other professionals,鈥 says Lee, whose background is in software engineering. 鈥淢ost of the value I can provide is being around to chat with these students. Even what we鈥檝e accomplished this far, it has been enriching for both sides.鈥

The experience has already been beneficial for Sutherland, who has had conversations with Kull and Illinois Tech Adjunct Professor of Industrial Technology and Management Blake Davis. Davis led an IPRO team in developing a vertical farm for The Plant, a zero-waste food production and educational facility that featured a garden that used a hydroponic system, which Sutherland鈥檚 business, HEIRS farm, plans to use.

By working with their mentors and honing in on the details of starting a business, students who participate in the Membership Program are not just learning how to successfully jump-start an idea鈥攖hey鈥檙e working toward creating a business that lives up to the mission that Illinois Tech was founded on, to 鈥渕eet the needs of the age.鈥 Both Sutherland, through a micro farm concept that turns vacant lots into farms that produce food for those living there, and Hernandez, whose platform can help small independent businesses have access to money management software they otherwise would not have, aim to start businesses that could have a significant impact in communities that need it most.

It鈥檚 why Sutherland says that the Membership Program, as well as the Kaplan Institute鈥檚 role as an entity that is 鈥渉ands on and very eager and ready to answer鈥 questions, has given her the hope that her aspirations are within reach.

鈥淲e鈥檙e hoping to be in a really good space to either buy or lease land so that we can get our first site up and running by the end of 2021,鈥 says Sutherland, who had been working on the idea with her husband, Gyasi Sutherland, before applying for the Membership Program. 鈥淭he program would help us get the remaining of our business concepts together, like making sure that it actually makes sense and that things are marketable. We just need to see how it can make money and how to form our entities鈥o that we鈥檙e ready to start the project full on.鈥