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EXTRACURRICULAR OPPORTUNITIES | 1
2 | JPEC 2015 ANNUAL REPORT
FY2015
AT A GLANCE
Entrepreneurship Course Sections Taught = 115
• 66 on-campus courses and 49 online courses
JPEC Alumni*
• 244 in FY2015
• 2,950 to date (since 1997)
*Includes: BBA Entrepreneurial Management (Track), Certificate in
Entrepreneurial Management, Technological Entrepreneurship
Certificate, and Certificate in Performing Arts Entrepreneurship.
Founders Club
FY2015	 To Date (since 2004)
60 businesses 	 324 student teams
82 participants 	 609 students impacted
33 jobs created 	
693 dedicated hours of
one-on-one consulting
Scholarships Awarded = $22,500
• 17 students received academic scholarships
• Scholarships ranged from $500 to $2,500
Youth Impacted = 21,664
• 8,209 students impacted by BizInnovator Curriculum
• 11,895 students impacted by STEM Innovator
• $22,070 seed capital awarded in FY2015
• 57,126 youth impacted since 1996
9 Cohorts
• 8 Venture Schools
• 1 Summer Accelerator
66 teams
• 182 participants
• Location of cohorts: University of Iowa, Cedar Rapids,
Cedar Falls, Davenport, Iowa City, Des Moines, Council Bluffs
• 350+ hours dedicated to mentoring
• 18 instructors trained in I-Corps/Lean LaunchPad
since 2013
Economic Development ImpactAcademic Impact
3,883
8,937
13,633
242
$
131,100 seed funding
229 894 525
8,773+
undergraduate
enrollments
program, seminar and
workshop participants
participants across all programs
(including academic and outreach)
startups
served
graduate
enrollments
clients
assisted
hours dedicated to clients
2014-2015 Venture School
Statewide Expansion
Venture
School
jobs
created
INTRODUCTION | 3
Dear Friends,
JPEC continues to expand entrepreneurial education and outreach to
accelerate growth and economic development. Lately, we’ve done so in part
by adding a cadre of remarkable faculty and professional staff to our team.
I am honored to be working with these individuals to achieve highlights such
as these:
• Expanding access to entrepreneurship education: In partnership with
the College of Liberal Arts and Sciences (CLAS) and the Tippie College
of Business, JPEC launched the BA in Enterprise Leadership major,
combining advanced coursework in entrepreneurship, leadership and
professional communications.
• Enhancing the student entrepreneur experience: JPEC significantly
enhanced its support for student entrepreneurs by forming the Founders
Club ­— a program featuring professional mentoring, technical and
prototyping assistance, and expanded seed funding opportunities. This is
in addition to the Bedell Entrepreneurship Learning Laboratory, JPEC’s
student incubation facility featuring student offices, conference rooms and
collaboration space.
• Supporting entrepreneurs statewide: JPEC offered Venture School in six
different communities across Iowa. Venture School teaches entrepreneurs to
properly evaluate their business concepts through customer discovery and
strategic business analysis. The Office of the Vice President of Research and
Economic Development and JPEC recently received a three-year grant from
the National Science Foundation for Venture School to become Iowa’s first
I-Corps site.
• Introducing youth to entrepreneurship and innovation: The Jacobson
Institute for Youth Entrepreneurship launched its second curriculum
initiative, STEM Innovator, to assist high school teachers to incorporate
entrepreneurship and innovation into high school STEM courses. This
builds upon Biz Innovator, the program designed for high school
business teachers.
Our success doesn’t happen without active participation and support from
successful entrepreneurs, business leaders, friends and alumni like you.
Please contact me at david-hensley@uiowa.edu or call 319-335-1022 to
become more involved with JPEC today.
Sincerely,
David Hensley
Executive Director and Clinical Professor
John Papppajohn Entrepreneurial Center
NEW IN FY2015
• “Hawk Pitch”
• Venture School Expansion
• American Girl’s Entrepreneurial
“Girl of the Year”
• Sigma Nu Tau
ACADEMICS
BEYOND THE CLASSROOM
EXTRACURRICULAR
OPPORTUNITIES
STUDENT COMPETITIONS
PARTNERSHIPS
4
6
8
9
10
Photo Credit: Manny Albadab, IMU Marketing + Design
CONTENTS
12
13
14
16
18
ACCELERATION
COMMERCIALIZATION
COMPETITIONS
YOUTH OUTREACH
ALUMNI
NEW IDEAS
ACADEMIC IMPACT
2015proved to be another thrilling year for the nationally recognized University of Iowa
John Pappajohn Entrepreneurial Center (JPEC). With nearly 4,000 undergraduate enrollments
and over 200 graduate enrollments, JPEC continues to be one of the largest entrepreneurial
programs in the country. 2015 also gave rise to the BA in Enterprise Leadership. This major
presents a unique blend of entrepreneurship, leadership and communication curriculum. The
Enterprise Leadership degree encourages Liberal Arts and Sciences students to apply their
knowledge and skills to entrepreneurial concepts and ventures. JPEC courses are taught by
award-winning faculty and entrepreneurs who have built successful companies.
ACADEMICS
BEYOND THE CLASSROOM JPEC is
committed to providing students with
real-world experience. Whether it is an
internship, a startup business, a part-
time job or developing a new student
organization, JPEC students are some
of the most active on campus. In 2015,
JPEC has served 242 startups and an
estimated 525 jobs have been created.
ACADEMIC PROGRAM HIGHLIGHTS
Majors
• BBA in Management/Entrepreneurial
Management Track
• BA in Enterprise Leadership
Certificates
• Certificate in Entrepreneurial
Management
• Technological Entrepreneurship
Certificate
• Certificate in Performing Arts
Entrepreneurship
ONLINE EDUCATION Some of the most
popular opportunities for UI students are
the BBA in Entrepreneurial Management,
the BA in Enterprise Leadership
and Certificate in Entrepreneurial
Management offered online through the
UI’s Division of Continuing Education.
The certificate is also accessible through
JPEC’s partnership with many Iowa
community colleges. Nearly 50 online
class sections were made available in the
last year for students continuing their
education online.
NEW BA IN ENTERPRISE LEADERSHIP Extextbooks founder, Jacob Schmitz
(Enterprise Leadership, ’16), has built a very successful startup. Since 2013,
Schmitz has been buying used textbooks from UI students and reselling
them. “I make it easy for students to sell their books at the end of the
semester,” Schmitz said. “I pick up and pay on the spot.”
“The textbook industry is rapidly changing, and I sell books
online to wholesalers fast,” he said. “However, this can be a seasonally
driven business. Jeff Nock (Entrepreneur-in-Residence at JPEC) has
really helped me accelerate my business. In my model, I have to
flip the books fast, as the next trend will be PDF textbooks.”
Schmitz is already working on his next startup. He plans to
enter the real estate business.
Schmitz has also enrolled in the Enterprise Leadership major.
“This major fit my needs and allowed me to take entrepreneurial classes
while continuing to participate in the Founders Club with my office
at the Bedell Entrepreneurship Learning Laboratory,” Schmitz said.
Photo Credit: Mark Zhu,
Student Life Marketing + Design
4 | JPEC 2015 ANNUAL REPORT
ACADEMICS | 5
BLAKE RUPE (MA, International Studies, ’14) launched
Re-APP Inc. in 2014 to enable people to measure and
track their recycling efforts over time by using an app on a
smartphone or tablet. Since then, Rupe’s app was featured in
USA Today, NPR and Iowa Public Radio. It was also featured as
one of the App Store’s “Best New Apps.”
“We created this app to test whether a sustainability application
could have a spot in the marketplace,” Rupe said. “We chose
recycling because it’s a very intriguing target group where
everyone does it, but nobody talks about it. We wanted to open
the conversation about recycling with the hope that people
would do it more.”
“My time in the JPEC programs gave me the resources I needed
to get Re-APP Inc. off the ground,” Rupe said. “I was given a
mentor who still works with me to this day; one who really
and truly cares about me as an entrepreneur and helps to see
my business succeed. JPEC also provided work space, food,
shoulders to cry on and a community of people who were in
the same boat. Being around that energy and large pool of
knowledge helped me see that I wasn’t alone. I could create a
company if I wanted to.”
“
“
Being around that
energy and large pool of
knowledge helped me
see that I wasn’t alone.
I could create a company
if I wanted to.
BLAKE RUPE
MA, International Studies, '14
Photo Credit: Iowa Startup Accelerator
6 | JPEC 2015 ANNUAL REPORT
BEYOND THE CLASSROOM
BEYONDTHE
CLASSROOM
STUDENT STARTUP OF THE YEAR Western Wise, co-founded by student
entrepreneurs Emily Roberts (Entrepreneurial Management and Spanish,
’16) and Chen Cui (PhD student, Computer and Electrical Engineering,
’16), received the Student Startup of the Year Award at the Discovery and
Innovation Awards Ceremony. The ceremony was hosted by the Office
of Vice President for Research and Economic Development to recognize
faculty, staff, postdoctoral scholars/fellows, graduate students, undergraduate
students and mentors who have demonstrated outstanding accomplishments
for research in their field. Roberts and Cui were awarded $1,000 for this
recognition.
Western Wise uses native English speakers to provide online English
tutoring to Chinese K-12 students. The company emphasizes passion,
patience and dedication to create a unique one-on-one experience between
tutors and their students.
ENTREPRENEUR OF THE YEAR Tyler Finchum (BBA, Finance
and Economics, Certificate in Entrepreneurial Management, ’15)
was named Student Entrepreneur of the Year by the Collegiate
Entrepreneurs’ Organization (CEO) at the National Conference in
Orlando for his business, Farm Manuals Fast. His e-commerce site
sells digital versions of operator’s manuals to farmers all over the world,
“helping farmers get back to work fast,” according to the company’s
website. Finchum’s revenue for his business is well into six-figures.
“If it weren’t for the continual push from the mentors and teachers at
JPEC, I don’t believe I would be at the point I am now,” Finchum said.
ENGINEERING STARTUP OF THE YEAR Spectator, co-founded by
Jon Myers (Mechanical Engineering, ’16) and Mitch Larson
(Enterprise Leadership, ’17), received $7,500 for the Hubert E. Storer
Engineering Student Entrepreneurial Startup Award. Spectator is a
sports information company that connects fans with their favorite
high school teams and provides them with easy access to high school
sports statistics. Myers and Larson want Spectator to be the “ESPN of
high school sports.” This past summer they participated in Nebraska’s
Startup Accelerator, NMotion, to further develop and refine the
Spectator business model.
Mitch Larson, Lynn Allendorf, Jon Myers
BEYOND THE CLASSROOM | 7
FOUNDERS CLUB The student business incubator
housed at the Bedell Entrepreneurship Learning
Laboratory (BELL) celebrated its 10 year anniversary
as the innovative program that helps entrepreneurial
students launch businesses. Since its inception, over
609 students and 324 student teams have started
new businesses and participated in the Founders
Club. In 2015, the incubator gave rise to an
estimated 60 new startups with 83 participants.
“The support that I’ve gotten from [Founders
Club] has provided me with the resources
and mentoring necessary to take my business
to the next level,” said Andrew Shao (BBA,
Entrepreneurial Management, ’15).
Members of Founders Club receive access to free
office space and equipment, one-on-one mentoring
and coaching, funding opportunities, workshops,
trainings, networking and community exposure.
SIGMA NU TAU A new national entrepreneurial
academic fraternity, Sigma Nu Tau, was established
at UI JPEC in April. At the annual spring JPEC
board meeting, 21 new student members were
inducted during a special ceremony.
Sigma Nu Tau was established in 2009 at the State
University of New York. Currently, there are 19
chapters nationwide. The University of Iowa was the
first Big Ten university chapter.
“Sigma Nu Tau is a way to recognize students with
outstanding academic performance who are pursuing
a major or certificate in entrepreneurship, or the BA
in Enterprise Leadership,” said Bob Walker, PhD the
faculty advisor for Iowa’s chapter.
Sigma Nu Tau members must hold a cumulative GPA
of 3.2 or higher and junior standing or higher.
Mackenzie Phillips receiving certificate Photo Credit: Ben Handler
Sigma Nu Tau
8 | JPEC 2015 ANNUAL REPORT
HAWKS DIVE WITH
SHARK TANK STAR
EXTRACURRICULAR
OPPORTUNITIES
Four University of Iowa students pitched their business
plans to “Shark Tank” star, investor and fashion founder
of FUBU, Daymond John, and other Iowa entrepreneurial
experts at the Hawkeye Innovation Summit. The judges
for the pitches were: John Pappajohn (BSC, Business,
’52), UI benefactor and Des Moines venture capitalist;
Tom Bedell, UI alum, entrepreneur and benefactor of the
Bedell Entrepreneurship Learning Laboratory (BELL);
Sarah Fisher Gardial, dean of the Tippie College of
Business; and featured guest, Daymond John.
Andrew Shao (BBA, Entrepreneurial Management, ’15)
was awarded first place and was presented $2,000 for his
business venture, Test Buddy, a portable device aimed to
give more desk space to students during tests.
1
2
3
4
1
#ThePeoplesShark
Photos 2  4 by Tim Schoon/Strategic Communication
432
Photos 1  3 by Joe Photo/Impact Photography
Second place and $1,000 were presented to Western
Wise, founded by Emily Roberts (Entrepreneurial
Management and Spanish, ’16) and Chen Cui (PhD
student, Electrical and Computer Engineering, ’16).
Western Wise is a service specializing in teaching English
to children in China via online tutoring.
Third place was given to Hawkeye football defensive back
Anthony Gair (Communication Studies and Certificate
in Entrepreneurial Management, ’16) for his invention
Track Slides — coverings used to protect cleats and
athletes, leg muscles. He was awarded $500.
ROSE FRANCIS STUDENT ELEVATOR PITCH COMPETITION
OPEN TO UI UNDERGRADUATE STUDENTS (65 ENTRANTS)
$5,000	Test Buddy (Andrew Shao)
$5,000	 Iowa Adaptive Technologies (Ben Berkowitz)
$2,500	 Western Wise (Emily Roberts and Chen Cui)
$2,500	 Swvl Shkr (Connor Keane)
$1,000	 Deanna Marie Cosmetics (Deanna Dozer)
$1,000	Mobile Water Solutions (Jake Fanella, Alex Fritz, Nick
Fisher and Anthony Izerinskiy)
$1,000	Spectator (Jon Myers, Mitch Larson, Brandon Kiefer
and JD McCullough)
$500	 Tadpoll (Caroline Altenbern)
$500	 Goode Growth Associations (Sarah Goode)
$500	 Subscribr (Melanie Slattery)
$500	GentlemenCare (Conor Paulsen, Lee Miller
and Scott Lahn)
THE STARTUP GAMES
OPEN TO UI UNDERGRADUATE  GRADUATE STUDENTS
(64 ENTRANTS)
$1,000	 MentorMe (Dylan Jones and Tom Werner)
$500	National College Gaming Association (Jacob Bunch,
Connor Alne and Brandon DeMuynck)
$300	JAC Mug (Michael F. Whetstone, George Daniel and
Amanda Smith)
$100	Wemote (Ben Vorwerk and Matt Cooper)
VOLDING BUSINESS PLAN COMPETITION
OPEN TO UI UNDERGRADUATE  GRADUATE STUDENTS
(29 ENTRANTS)
$5,000	 Spectator (Jon Myers, Brandon Kiefer and Mitch Larson)
$3,000	 Western Wise (Emily Roberts and Chen Cui)
$2,000	Whexbook (Vuk Radosavljevic)
COMPETITIONS | 9
FOUNDERS CLUB FAIR/YEAR-END COMPETITION
OPEN TO UI STUDENTS IN THE FOUNDERS CLUB (30 ENTRANTS)
$1,500	 SWINEGUARD (Matthew Rooda)
$1,000	 Swvl Shkr (Connor Keane)
$500	 Test Buddy (Andrew Shao)
$500	 Lohman Earthworks (Pierce Lohman)
$500	 AppyHour (Neil Jirele)
$500	 Organizer (Eric Pahl and Dalton Shaull)
$500	 Fenceless Fences (Josey Jewell)
HUBERT E. STORER ENGINEERING STUDENT ENTREPRENEURIAL
STARTUP AWARD
OPEN TO UI COLLEGE OF ENGINEERING STUDENTS
$7,500	Spectator (Jon Myers, Mitch Larson, Brandon Kiefer
and JD McCullough)
IDEASTORM PITCH COMPETITION
OPEN TO UI GRADUATE  UNDERGRADUATE STUDENTS
(30 ENTRANTS)
$500	 Quick Scripts (Eric Pahl)
$400	 Bid the Med (Sandeep Bodduluri)
$300	 Career Karma (Julian Valencia)
$300	 My Stuff App (Josh Giles)
$200	 Home Energy Monitor (Kayley Lain)
THE COLLEGE OF BUSINESS FALL 2014 BOARD MEETING
PITCH COMPETITION
$500	 Western Wise (Emily Roberts and Chen Cui)
HAWKEYE INNOVATION SUMMIT EXPO
(36 ENTRANTS)
$1,000	 Iowa Adaptive Technologies (Ben Berkowitz)
$500	 3D Digital Design Class (Monica Correia)
$500	 Valor (Madison Gingery)
HAWKEYE INNOVATION SUMMIT HAWK PITCH
(3 ENTRANTS)
$2,000	 Test Buddy (Andrew Shao)
$1,000	 Western Wise (Emily Roberts and Chen Cui)
$500	 Track Slides (Anthony Gair)
STUDENT
COMPETITIONS
UI STARTUP OF THE YEAR
$1,000	Iowa Approach (Steve Mickelson)
UI STUDENT STARTUP OF THE YEAR
$1,000	 Western Wise (Emily Roberts and
Chen Cui)
AWARDS AND
RECOGNITION
10 | JPEC 2015 ANNUAL REPORT
ENTREPRENEURIAL MANAGEMENT INSTITUTE
(EMI) is a partnership between the Tippie College
of Business and JPEC where students gain real-
world experience. 165 students participated in EMI
in 2015. Students acted as consultants to 49 Iowa
business organizations and entrepreneurs. They
collaborate with company leaders to develop unique
strategic market research, competitive analyses and
financial assessments. This year, 6,720 hours have
been dedicated to one-on-one consulting and an
estimated 45 jobs were created.
According to Ryan Ciepley (BA, Economics,
Certificate in Entrepreneurial Management, ’14),
“EMI was the most valuable experience. I learned
so much that I use every day in my position with
Becker Healthcare. I learned how to lead and
manage people in incremental steps according to
our plan and the project goals. The research we
did for BlendCard taught me about how to listen
to the customer, how to better understand target
markets and how to apply that information into a
meaningful plan.”
“It was great to have passionate young entrepreneurs
help a startup with limited resources,” said Paul
Kongshaug, founder and CEO of BlendCard. “It
provided incredible value to our company.”
INSTITUTE FOR INTERNATIONAL BUSINESS (IIB)
served 46 Iowa clients (nonprofit, NGO, retail,
engineering and manufacturing) in 18 different
countries and created 30 jobs in 2015. The mission of
IIB is to foster international entrepreneurship through
its partnership with EMI. IIB students managed
38 projects for companies pursuing new business
opportunities globally.
“In the past year, there has been an increased interest
from Iowa small and mid-sized companies to go
global, said Dimy Doresca, director of IIB. “Some
of them are receiving inquiries from prospects in
the Middle East, North and Sub-Sahara Africia and
South Asia. There is also an interest in new foreign
EXPERIENTIAL
LEARNING LEADS
TO PARTNERSHIPS
PARTNERSHIPS
Ryan Ciepley
Dimy Doresca
Kristin Knudson
markets with growing middle classes demanding
better products and services. Engaging UI students as
consultants, IIB has helped clients with opportunity
assessments and international business risk analysis as
they engage in foreign market investments.”
IOWA INNOVATION ASSOCIATES (IIA) provided 74
students with internships, and over 40 clients were
served in 2015. IIA provides experience to qualifying
undergraduate and graduate students by pairing
them with Iowa businesses, startups and research
organizations based on students’ career goals.
“My internship through IIA gave context to the
information in my engineering classes,” said Ella
Wassweiler (Electrical Engineering, ’15). “Now I
have the design experience necessary to build even
more complicated circuit boards for my research.”
“For very early stage companies with limited
resources, IIA is a great option,” said Ben Berkowitz,
(BSE ’10; MS, ’12), co-founder of Voxello (Iowa
Adaptive Technologies). “We were able to provide
a competitive wage while on a minimal budget.
Since the students were hired through IIA, I was
saved from having to deal with HR and accounting,
and it really streamlined the process of hiring an
international student.”
IOWA MEDICAL INNOVATION GROUP (IMIG)
provides an interdisciplinary opportunity at
Iowa for students from the Colleges of Business,
Engineering, Law and Medicine to work together
to create innovative solutions. In 2015, 46 students
along with 8 faculty mentors developed 5 new
devices, therapies or new models of care.
“I worked with a team on improving the Foley
catheter, said Kristin Knudson (BSE, Biomedical
Engineering, ’12; MSC, Biomedical Engineering, MBA
’16). “It was a great opportunity to solve a real problem
and work with experts in law, medicine, engineering
and entrepreneurship. It was exciting to participate in
the business plan competitions, and win!”
Paul Kongshaug
HAWKEYE INNOVATION SUMMIT The third annual Hawkeye
Innovation Summit was held to celebrate innovation and
entrepreneurship across the UI campus. The spring event included
a panel of well-known JPEC alumni sharing their success stories,
as well as a variety of breakout sessions and STEM Innovator
Pitch-It-to-Win-It Competition.
The alumni panel was moderated by lecturer and lead instructor
for UI’s Venture School, Kurt Heiar. A panel discussion entitled
“It All Started Here: Making Bank for Your Business” included:
COO and chief educator of Pear Deck, Michal Eynon-Lynch;
co-founder and CEO of clusterFlunk, AJ Nelson; founder and
CEO of TelePharm, Roby Miller (BA, Interdepartmental Studies,
'10); and co-founder, president and CEO of Higher Learning
Technologies, Alec Whitters.
The four panelists have raised between $1 to 6 million each in
their respective startups. All agreed that networking and building
relationships continue to be critical for getting investors on board
to fund ideas.
The event was hosted in collaboration with the Office of the
Vice President for Research and Economic Development,
UI John Pappajohn Entrepreneurial Center, University of Iowa
Research Foundation, University of Iowa Research Park and
University of Iowa Small Business Development Center.
INNOVATION EXPO A crowd of more than 600 attendees
from all over Iowa and neighboring states attended the fall
Innovation EXPO. The EXPO was co-hosted by Entrepreneurial
Development Center (EDC) of Cedar Rapids, Iowa Inc.,
Technology Association of Iowa (TAI), University of Iowa
JPEC and Iowa Fund of Funds. The EXPO created a forum
where entrepreneurs, business leaders and financial resources
could connect, exchange ideas and showcase new innovations.
The Entrepreneurial Showcase featured 80 entrepreneurs and
inventors, and 15 UI startups.
EntreFEST With more than 1,000 attendees, 2015 EntreFEST
provided an outstanding showcase for national speakers like
Seth Godin and Ben Milne, as well as statewide leaders like
Lt. Gov. Kim Reynolds. Also in attendance was Iowa Board of
Regents President, serial agriculture entrepreneur and CEO of
Summit Group, Bruce Rastetter (BA, Political Science, '78).
These speakers provided more than 115 unique sessions,
celebrated entrepreneurialism with festive events and honored
entrepreneurial icon and JPEC benefactor, John Pappajohn,
with a Lifetime Impact Award.
Like its audience, EntreFEST has been evolving for eight years,
and has now declared its new home to be Iowa City. With new
events like speed networking, product showcases and fashion
shows, EntreFEST’s 2015 focus was to help local entrepreneurs
build new networks, become better leaders, respond to service
needs and develop partnerships.
EntreFEST was presented by the University of Iowa, University
of Northern Iowa and Iowa State University. The event is
supported by over 50 private and public organizations
supporting entrepreneurship and innovation in the Midwest.
PARTNERSHIPS | 11
Photo Credit: Justin Torner
Photo Credit:
Joe Photo/Impact
Photography
PARTNERSHIPS THAT CELEBRATE
IOWA INNOVATION CORPORATION
12 | JPEC 2015 ANNUAL REPORT
VENTURE
SCHOOL
ACCELERATION
“
“
VENTURE SCHOOL UI Venture School is an intense six-week
program for entrepreneurs capitalizing on the University’s resources,
dynamic training and fostering an innovative ecosystem to startups.
Employing the Lean LaunchPad methodology, Venture School allows
entrepreneurs to evaluate their business model through customer
discovery and mentor feedback. Venture School also emphasizes
real-world entrepreneurship through experiential learning, featuring
a flipped classroom and immediate mentor feedback.
Through a joint effort between the Office of the Vice President for
Research and Economic Development and JPEC, Venture School
has been awarded National Science Foundation (NSF) I-Corps
Site designation, making it
Iowa’s leader in entrepreneurial
education. Venture School
was developed with the NSF
curriculum used at Stanford
University and the University
of California, Berkeley.
Venture School began in Iowa City in 2013, then expanded
across Iowa to 6 cities (Des Moines, Cedar Falls, Cedar Rapids,
Council Bluffs, Davenport, Iowa City) and will soon host its first
cohort in Sioux City. Venture School's statewide growth would
not have been possible without educational partners like: Eastern
Iowa Community College, Kirkwood Community College, Iowa
Western Community College, North Iowa Area Community
College, the University of Northern Iowa and Iowa Western
Technical Community College.
To date, UI Venture School has had 81 teams and started 31
new businesses. Participants have had the benefit of counsel
from 100 Venture School mentors in a network that has helped
VENTURE SCHOOL STUDENT ACCELERATOR JPEC also sponsors
the Venture School Student Accelerator program, which is an
intense nine-week program for student entrepreneurs. The
Venture School Student Accelerator has been designed for
innovative and creative students who are looking to pursue
entrepreneurship as a career. After completing the Student
Accelerator, startups continue to have access to numerous
University of Iowa resources, including strategic business
assistance, technology consulting services, prototyping assistance
and internship programs. 23 teams have participated in the
Student Accelerator and 13 have started businesses. Two of these
teams have gone on to Iowa Startup Accelerator and NMotion.
VENTURE SCHOOL BUSINESS MODEL COMPETITIONS
$40,000 was awarded to UI Venture School alumni teams at
the Venture School Business Model Competitions held in the
fall and spring. Teams from all over the state of Iowa pitched
their newest business models to groups of investors, mentors and
entrepreneurs.
Venture School trains
entrepreneurs to connect with real
customers to validate their business
model, increasing the likelihood
of success.When a team comes
into the program, we help guide
them through early stage market
research, provide mentors with real
world experience and then connect
them with other resources,enabling
them to more confidently launch
their business.
DAVID HENSLEY
Executive Director of the UI John Pappajohn
Entrepreneurial Center
Lynn Allendorf  Elizabeth Caven, UpCraft Club
2015 Student Accelerator
train the 236 entrepreneurs who have attended Venture School.
Approximately $725,000 has been raised by Venture School
teams. 4 teams were nominated for the 2015 Prometheus Award,
and 2 were accepted into the Iowa Startup Accelerator (ISA).
COMPETITIONS | 13
COMMERCIALIZATION
COMPETITIONS
BUSINESS MODEL COMPETITION
OPEN TO UI FACULTY, STAFF, STUDENTS, UI RESEARCH PARK  BELL TENANTS
(48 ENTRANTS)
$7,500	 Western Wise (Emily Roberts and Chen Cui)
$2,500	 CartilaGen (Ma [Mark] Tianxiang)
$2,500	 Track Slides (Anthony Gair)
$2,500	 Epileptic Seizure Monitoring System (Kwan Lee)
$2,000	 Needle Eye Medical (Kristin Knudson)
$2,000	 College Gaming Series (Connor Alne)
$1,000	 Re:fresh (Alanna Rumler)
$1,000	 Valor (Madison Gingery)
$1,000	 Wihsil (Zach Musselman)
$1,000	 Shake It, LLC / Glimpse [Drake] (Ethan Turner)
$500	 Whexbooks (Vuk Radosavljevic)
$500	 Swvl Shkr (Connor Keane)
$500	 Spectator (Jon Myers, Brandon Kiefer, JD McCullough and Mitch Larson)
$500	 ORGANizer (Eric Pahl)
VENTURE SCHOOL BUSINESS MODEL COMPETITION
OPEN TO VENTURE SCHOOL ALUMNI
FALL (39 ENTRANTS)
$10,000 	 Iowa Adaptive Technologies (Ben Berkowitz)
$6,000 	 Spectator (Jon Myers, Brandon Kiefer, JD McCullough and Mitch Larson)
$4,000 	 Infondrian (Junyi Xia)
SPRING (12 ENTRANTS)
$10,000	 UpCraft Club (Elizabeth Caven)
$6,000 	 College Recruit U (Julie Kent)
$5,000	 Immortagen (Kristi Thiel)
$4,000 	 GoQuets (Shawn Harrington and Lyndsay Clark Horgan)
INTERNATIONAL BUSINESS MODEL COMPETITION
$2,000 QUARTER FINALIST 	 Western Wise
THINKCHICAGO CONFERENCE
ATTENDEE			 Farm Manuals Fast
ATTENDEE 		 Test Buddy
NATIONAL CEO COMPETITION
STUDENT ENTREPRENEUR		 Tyler Finchum
OF THE YEAR
2014 -15 EO IOWA FELLOWSHIP PROGRAM
ACCEPTANCE INTO PROGRAM 	 Ellison Eyewear
YOUNG ENTREPRENEURS IN FRANCHISING
ACCEPTANCE INTO CONFERENCE	 Deanna Dozer
SAN DIEGO LEAN MODEL COMPETITION
SEMI FINALS: TOP 25 OVERALL 	 Wihsil
 TOP 5 IN CATEGORY
BAYLOR NEW VENTURE COMPETITION
SEMI FINALIST 		 Wihsil
SOUTHERN CALIFORNIA ENTREPRENEURSHIP 
INNOVATION COMPETITION
THIRD PLACE		 Edible Innovations
5TH TEEC CUP AMERICAN ENTREPRENEURSHIP
COMPETITION
TOP 10 PLACING		 Edible Innovations
STU CLARK INVESTMENT COMPETITION IN MANITOBA
SEMI FINALIST - $781 		 Career  Company
DREAM BIG, GROW HERE
PARTICIPANT		Career  Company
PROMETHEUSAWARDS(TECHNOLOGYASSOCIATIONOF
IOWA)
STUDENT INNOVATION 		 Spectator
OF THE YEAR FINALIST
STUDENT INNOVATION	 	 Western Wise
OF THE YEAR FINALIST
STUDENT INNOVATION		 Wihsil
OF THE YEAR FINALIST
2015RICHARDSBARRENTINEVALUESVENTURES
BUSINESSPLANCOMPETITIONATTCU
SEMI FINALIST - $100		 Spectator
CHICAGO MIDWEST TRADING COMPETITION
PARTICIPANT		Voyager Investment
Technologies
UNIVERSITY INNOVATION FELLOWS ANNUAL MEET-UP
ATTENDEE			 Aaron Goddard
ATTENDEE			 Anastasia Hertz
INFONDRIAN, LLC. One of the winners from the Venture School
business model competition, Infondrian, LLC., was founded by
two UI faculty members of radiation oncology at the University
of Iowa Hospitals and Clinics, Junyi Xia, PhD, and Alfredo Siochi,
PhD. Infondrain was awarded $4,000 at the competition for
its innovative software solutions to automate treatment error
detection and optimize clinical workflow. ChartAlert MVP is
their software solution presently in development and testing
phase. Venture School was a fantastic experience for our team;
it was business 101 to us. After completing Venture School, we
understood that the most important factor of a successful product
is to understand and solve the customer's problems through
customer discovery, said Xia.
REGIONAL/NATIONAL COMPETITIONS
Junyi Xia, PhD
Alfredo Siochi, PhD
14 | JPEC 2015 ANNUAL REPORT
INSTITUTE
JACOBSON
FOR
YOUTH ENTREPRENEURSHIP
The University of Iowa
YOUTHOUTREACH
BIZINNOVATOR BRINGS ENTREPRENEURSHIP TO HIGH
SCHOOLS Since its national release two years ago,
BizInnovator, an entrepreneurial online curriculum
designed for high school business teachers, has been
adopted by teachers across the country and reached
approximately 11,000 high school students. Also
exciting, business teachers from 17 states have
completed the BizInnovator Teacher Certification, and
are able to offer UI college credit in entrepreneurship
to qualified high school juniors and seniors. The first
cohort of 71 students earned University of Iowa
entrepreneurship credit this spring.
“BizInnovator has provided a curriculum at
the high school level and fantastic exposure for
the University of Iowa and the John Pappajohn
Entrepreneurial Center’s outstanding undergraduate
entrepreneurship program,” said Dawn Bowlus,
director of the Jacobson Institute for Youth
Entrepreneurship.
AMERICAN GIRL CREATES YOUNG ENTREPRENEUR
GIRL OF THE YEAR WITH JACOBSON INSTITUTE
ASSISTANCE In 2013, Jacobson Institute Director
Dawn Bowlus was invited to participate with the
American Girl creative team on their 2015 Girl of
the Year, young entrepreneur Grace Thomas.
“The opportunity to work with American Girl
and help influence what entrepreneurship means
to thousands of children nationwide was a dream
come true,” Bowlus said.
Bowlus consulted on three American Girl books
and a curriculum guide, which were all released
nationwide in January 2015. The stories tell about
the adventures of Grace, a 9-year-old entrepreneur
who starts a baking business with her friends.
Bowlus ensured that the entrepreneurial and
business details reflected real-world challenges
that startups face. The guide for Grace features the
Jacobson Institute’s curriculum and allows doll
owners to learn about entrepreneurship.
“American Girl is very popular and helps kids to
grow up thinking: How do I become more creative?
How do I innovate new ideas? How do I do things
differently? How can I do what I want to do?”
Bowlus said.
Photo Credit: David Scrivner, Iowa City Press-Citizen
YEAR ONE
71 high school
students nationwide
have earned
UI college credit in
entrepreneurship
REACHING YOUNG
ENTREPRENEURS
NATIONWIDE
STEM INNOVATOR HELPS DAVENPORT STUDENTS TAKE HOME THE CASH
Entrepreneurial education partners, Dawn Bowlus and Leslie Flynn (Clinical
Assistant Professor, Teaching and Learning, College of Education), have created a new
didactic partnership with the United States Patent and Trademark Office (USPTO) to
help K-12 students deliver their concepts and solutions to the marketplace.
One example of their new teaching method was showcased at the spring JPEC
Advisory Board meeting. A student team from Davenport West High School
pitched their new invention, Endotherm, to the board. Endotherm helps to
prevent vehicular heat stroke deaths in young children and pets, an occurrence
that happens most frequently from a child or pet being left alone in a vehicle
unintentionally. These students created a winning solution to a deadly problem,
and on the spot, the team was awarded $11,000 in seed capital investment
funds. Endotherm is currently working with the U.S. Patent and Trademark
Office to protect their intellectual property.
Davenport West was one of 15 high schools in the country to be recognized as
a Lemelson-MIT InvenTeam. The Jacobson Institute invited the team to practice
their pitch and get valuable feedback at 1 Million Cups and the UI Venture
School. During the summer, the team served as a model for K-12 teachers
nationwide as they presented in the student showcase at the USPTO National
Summer Teacher Institute in Dallas.
FY2015 AT A GLANCE: YOUTH OUTREACH OVERALL IMPACT
YOUTH OUTREACH | 15
$
22,070Seed Capital Awarded to
High School Students
11,895High School Students Impacted
by STEM Innovator Program
21,664Students Impacted Through
Youth Outreach Initiatives in 2015
57,126Students Impacted Through Youth
Outreach Initiatives Since 1996
Endotherm Team
BIZINNOVATOR CURRICULUM
Active
Teachers
608
8,209
Students
16 | JPEC 2015 ANNUAL REPORT
JIM COBLE
BBA, Marketing, Management  Organizations, ’04,
Founder, 13 Fishing, Tampa, Florida
“LearningfromexperiencedmentorslikeTomBedell
wasinvaluableasastudent,andithasbeennicetoshare
whatIlearnedthroughtheprogramwithstudentsatthe
BELL.AnotherimportantthingIlearnedatIowawasthe
networkingopportunities.Youhavetokeepyourearto
theground — youneverknowifanopportunityisgoing
tocomeyourway.”
STACY
KELSEY
BA, Journalism and
Mass Communication,
Certificate in
Entrepreneurial
Management, ’10,
Founder, The Kelsey
Experience, Fashion
Editor, EncoreHD
Magazine, Atlanta
“Ireallyenjoyedtheleadershipandthepositive
environmentatJPEC.Theprogramwasneverboring
becausetherewasalwayssomethingtogetinvolved
in.Whileintheprogram,mymentorsandtheguest
speakersgavesomuchwisdomandadvicetolasta
lifetime. JPEChelpedmebuildstructureandgave
medirectionfortakingmyentrepreneurialskillsto
thenextlevel.Theprogramislikenootherbecause
youhavementorsandleaderswhodoanything
andeverythingtohelpyousucceed.Iwouldhighly
recommendthisprogramaboveanyotherbecause
theleadershipyoureceiveissogenuine.”
BRANDON CAMPBELL
BA, Journalism and Mass Communication, International
Studies, Certificate in Entrepreneurial Management,
‘04, Founder, Little Rock Fashion Week (LRFW) and more
recently, Oneofakind Talent, Inc., Little Rock, Arkansas
“I remember interning in New York City, sitting at
MTV when I received a call from [JPEC] saying that I
had won the Edward M. Moldt scholarship. It showed
me that I was on the right track, and that you can
dream big. Winning that award let me know that you
can go for it when you are a student.”
TIME WELL SPENT
ALUMNI
DEANNA
DOZER
BA, Political
Science, Certificate
in Entrepreneurial
Management, ’15,
Founder, Deanna
Marie Cosmetics,
Law student, Naples,
Florida
“I can be somewhat disorganized, and I needed to
streamline my time getting ready. I had an idea in
mind for a product that would combine mascara and
an eyelash curler. Once I had taken a couple of JPEC
courses, I shared my idea with Jeff Nock and Lynn
Allendorf, who encouraged me to begin by doing
research using the customer discovery process. My
dad used to tell me, ‘It just takes one idea,’ and
Deanna Marie Cosmetics was born. The research
validated my idea; I made a 3D prototype and
applied for a patent. There is still more work before
it is on the open market, but I can do that while I am
in law school.”
STACEY RODENKIRK
BA, Economics, Certificate in Entrepreneurship, ’03,
Project Manager, Comcast, Philadelphia
“JPEC has instilled five core concepts in me that I carry
with me daily—stay thirsty for opportunity, hustle,
never settle, be proud of your authentic self and be
kind and respectful to others.”
AUSTIN REICHARDT BBA, Finance, ’09,
Associate, Acuity Capital Partners, Chicago
“I enjoy my private equity position, but have always
wanted to have my own business and give back. One
of the reasons why I wanted to become an apparel
entrepreneur was to pay tribute to my grandfather,
Bill Reichardt (BA, ’51), former UI gridiron standout,
who was a well-known entrepreneur in Des Moines.
He was the business: traditional style, a dedication to
total quality and always available to his customers. I grew up in his store and have always
worn classic button-downs. In 2013, I started Reichardt Threads to solve the problem of
wearing shirts untucked. We adopted my grandfather’s former label for the company,
squared off the shirt’s hem and took the bulk out. With each shirt sold, we donate a
percentage to KIVA and provide microfinance loans to entrepreneurs in Third World
countries. The entrepreneurial classes I took at Iowa taught me how to write the business
plan and get it all rolling. Thanks, Professor Hauser.”
TELL US WHERE
YOU ARE NOW WITH
#JPECalum
ALUMNI | 17
HAWK POWER:
BLUE CHIP STARTUPS
ALUMNI | 17
AJ NELSON AND JOE DALLAGO
Co-founders, clusterFlunk, Iowa City
“TheBedellEntrepreneurshipLearningLaboratoryhelpedpropelustoraise
overonemillioninventurecapitalandbuildproductsthatservehundredsof
thousandsofusers.WeʻrecurrentlyworkingonclusterFlunkandournewest
educationproduct,Pi.”
HUNG TRAN
MS, Computer Science, ’10; PhD, Computer Science, ’12, Founder and CEO, GotIt! (Tutor
Universe), Menlo Park, California
“AtthetimeIjoinedJPEC,Ididn'thavemuchexperienceinfoundingandrunning
astartup.However,Iquicklylearnedthenecessaryknowledgeandskillsfrom
Lynn,DavidandJPECclassestohaveasolidfoundationtogetGotIt!(Tutor
Universe)offtheground.WecontinuedgettingmoresupportfromJPECatthe
[FoundersClub]andCoLabtocontinuouslygrowGotIt!andturnitintoahot
startupinSiliconValley.
“Whatwearedoingnowiswaybiggerthanthetutoringbusinessthatthecompany
startedwith.Wearebuildingan‘OnDemandPlatformforKnowledge.’Imagine
thatwhenyouhaveaproblemandyouneedhelp,youtakeapictureofthe
problemandposttotheplatform;withinsecondssomeonestartsworkingonit
andwithinminutesyouhaveanexpertexplanationback.Howcoolisthat?”
BEN BERKOWITZ
BSE, Biomedical Engineering, '10; MS, '12, Co-founder, Voxello (Iowa Adaptive
Technologies), Coralville, Iowa
“JPEChelpedtoprovidemewiththeentrepreneurialknowledgeandthebasis
forcapitalizationnecessarytofundanewcompany.Essentially,JPECprovided
mewithwhatIneededtoknowinordertosurviveinthebusinessworld.”
ADAM KEUNE
Co-founder and Chief Business Development Officer, Higher Learning Technologies,
Coralville, Iowa
”JPECwasinstrumentalinmydevelopmentasanentrepreneur.Thecourses
ItookwhileatIowasparkedapassionforwantingtostartmyownbusiness.
OneofthemostvaluablethingsItookawaywasthatthereisnooneanswer
toanyprobleminentrepreneurship.Nomatterhowmuchyoureadandstudy
entrepreneurship,management,marketingandmore,youwillstillhavetocome
upwithsolutionsonyourown.Itispartofwhatmakesbeinganentrepreneur
somuchfun.Everybusinesswillhaveuniqueproblemsthatrequireunique
solutions,andmyprofessorswereveryadamantaboutthat.Obviously,learning
aboutthingslikebusinessplansandfinancialmodelswascritical,buttherewas
nobookcalled‛HowtoBuildHigherLearningTechnologies.ʼThatbookisstill
beingwritten.“
LECTURE SERIES JPEC sponsors several speaker
series each year designed to bring successful
entrepreneurs and business leaders to campus,
giving advice and inspiring students and
entrepreneurs alike. These events also provide
outstanding networking opportunities.
HUGHES LECTURE SERIES
•	 Featured panelists: Alec Whitters, co-founder
and CEO of Higher Learning Technologies;
Ravi Patel, president of Hawkeye Hotels;
Aristotle Loumis, founder and CEO of Ellison
Eyewear; Roby Miller, founder of TelePharm
•	 Panel discussion “Startup Stories”
•	 210 attendees
SANDAGE LECTURE SERIES
•	 Featuredspeaker:Todd P. Smith (BBA,'90,MBA
'96), founderandmanagingdirectorofDreamfield
Ventures
•	 Lecture entitled “The Gift of Failure: Powerful
Lessons from an Entrepreneur’s Real-Life
Adversities”
•	 387 attendees
BEN S. SUMMERWILL LECTURE
•	 Featured speaker: Jake Wood, author,
co-founder and CEO of Team Rubicon
•	 Presented by MidWestOne Bank
•	 350 attendees
NEW IN 2015 New to the JPEC team in 2015 and
bringing their entrepreneurial expertise with them
were Jeff Nock and Bob Walker.
Jeff Nock serves as the lecturer and faculty advisor
for Founders Club. He mentors more than 50
students founding startups, creates networking
opportunities and coaches students competing for
funding competitions. Nock has been involved in
three tech startups and one global nonprofit startup.
Bob Walker is a lecturer and faculty advisor for
I-Envision and Sigma Nu Tau. He has 24 years of
teaching experience in higher education, previously
as an associate professor and the coordinator for
the Banking  Finance Degree and Management
Degree with Kirkwood Community College. Walker
was also an associate professor and chair of the
department of business at Mount Mercy University.
SMALL BUSINESS DEVELOPMENT CENTER (SBDC)
America’s SBDC at the University of Iowa was
established in 1981 as one of the four original
centers in Iowa. The center has been an active
part of the Tippie College of Business, the Iowa
Centers for Enterprise and UI JPEC. In 2015,
SBDC Regional Director Paul Heath and his team
provided more than 760 hours of consultation
to clients and $9,487,000 in total capital. 261
clients received advice from the SBDC and 225
new jobs were created. The Center provided 11
workshops and conferences, which were attended by
198 interested entrepreneurs.
CONNECTING WITH JPEC You are important to JPEC students and
to our nationally recognized program. Please consider coming back to
campus to judge a business plan competition or to mentor a student or a
startup. Support JPEC by providing necessary funds to support student
organizations, scholarships or Founders Club. We hope you will plan
now to join us next year at homecoming at the annual JPEC Alumni
Networking Reception. Your support contributes to our success.
#ItAllStartsHere
INNOVATION
 INSPIRATION
18 | JPEC 2015 ANNUAL REPORT
NEWIDEAS
Jake Wood
Paul Heath
Jeff NockBob Walker
“
“
FoundersClub,
JPECʼsstudentbusiness
incubator,providesan
entrepreneurialecosystem
thatenablesstudent
businessfoundersto
launchinnovative,
successfulbusinessesina
myriadof industries. 	
JEFF NOCK
JPEC Lecturer and Faculty
Advisor for Founders Club
Photo Credit: Alberto Vasari
@iowajpec (UI Entrepreneurship) @iowajpec (UI Entrepreneurship)
John Pappajohn Educational Center
at the University of Iowa
John Pappajohn Educational Center
at the University of Iowa
HIGHLIGHTS | 19
HEREʻS WHAT YOU MISSED: FY2015
•	 Jacobson Institute Entrepreneur Camps
•	 JPEC wins Service Provider of the Year —
Silicon Prairie Awards
•	 STEM Innovator Teacher Institute launched
•	 Founders Club Fall Competition
•	 Internship panel by Alumni Board
•	 Sandage Lecture Series: Todd P. Smith
•	 American Girl releases Grace with help from
Jacobson Institute
•	 Venture School — Cedar Falls and Iowa City/
Cedar Rapids
•	 National Business Model
Competition
•	 MidWestOne Summerwill
Lecture: Jake Wood
•	 Venture School — Quad
Cities and Western Iowa
•	 Volding Business Plan
Competition
•	 The Startup Games
•	 Hawkeye Innovation Summit
and EXPO
•	 Venture School — Cedar
Rapids
•	 Statewide Pappajohn Student
Entrepreneurial Venture Competition
•	 Founders Club BizFair and Awards
Ceremony
•	 EntreFEST
•	 Venture School Student Accelerator
•	 Jacobson Institute’s BizInnovator
Competition goes national
•	 Venture School — Des Moines
•	 ENTREdays: Startup Stories,
IdeaStorm
•	 UI JPEC Homecoming Networking
Reception
•	 Innovation Expo
•	 Venture School — Cedar Falls
JULY-AUGUST
NOVEMBER-DECEMBER
SEPTEMBER-OCTOBER
JANUARY-FEBRUARY
MAY-JUNE
MARCH-APRIL
ADVISORY BOARD
STAFF
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
ALUMNI BOARD
DAVID HENSLEY Executive Director and Clinical Professor • LYNN ALLENDORF Director • DAWN BOWLUS Director, Jacobson Institute for Youth Entrepreneurship • PAUL HEATH Regional
Director, Small Business Development Center • DIMY DORESCA Lecturer and Director, Institute for International Business • PHIL JORDAN Tippie Business Liaison • JENNIFER BANTA JPEC
Training and Engagement Liaison • AMY JO REIMER-MYERS Associate Director, Educational Outreach • PATRICIA WEILAND Accountant • PATRICIA WHIDBY Department Administrator •
CLAIRE MCGRANAHAN Digital Marketing Manager • LAURA TAYLOR Associate Director of Marketing • JEFF NOCK Lecturer and Faculty Advisor for Founders Club • BOB WALKER Lecturer and
Faculty Advisor for I-Envision and Sigma Nu Tau • KURT HEIAR Lecturer and Entrepreneur-in-Residence • JOE SULENTIC Lecturer • KEVIN KRAUSE Lecturer
TOM BEDELL CEO, Two Old Hippies • JOHN BUCHANAN Founder, RBP; a Marsh  McLennan Company • BARRY BUTLER UI Executive Vice President and Provost •
TOM CARDELLA President, Thomas L. Cardella Associates • CHADEN DJALALI Dean, UI College of Liberal Arts and Sciences • SARAH FISHER GARDIAL Dean, UI Henry Tippie
College of Business • RICHARD JACOBSON Founder  Chairman Emeritus, Jacobson Companies • KEVIN KRAUSE Krausewa, L.C. • JOHN PAPPAJOHN President, Equity
Dynamics Inc. • DANIEL REED UI Vice President for Research and Economic Development • JEAN ROBILLARD, MD UI Vice President for Medical Affairs • DON SCHOEN
Founder  CEO, BettrLife • DEBRA SCHWINN, MD Dean, UI Roy J. and Lucille Carver College of Medicine • ALEC SCRANTON Dean, UI College of Engineering • DENNIS
SPARKS Director Global Logistics and Supply, Pfizer Inc.
BEN ANDERSON Founder, Bandwidth Pool • JOE CORTESE Managing Director, Vilas Capital Management LLC • JARED GARFIELD Co-founder  CTO, Corvida Medical • JOSH
KRAKAUER CEO  Co-founder, Sculpt • JOHN MICKELSON Founder and Managing Partner, Midwest Growth Partners • PATRICIA MILLER President and CEO, Matrix IV • ROBY MILLER
Founder, TelePharm • RAVI PATEL Principal and President, Hawkeye Hotels • BRAD PHILLIPS Managing Partner, Phillips Stafford Insurance Group • ANNE PRICE Nanny
TIM RYPMA Manager, R.E. Properties LLC • JASON TROUT Co-founder, Good Blogs • ZAC VOSS Founder and President, Voss Distributing LLC • LAURA WESTERCAMP Management
Consultant, Accenture

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JPEC Annual Report 2015 FINAL-LR

  • 2. 2 | JPEC 2015 ANNUAL REPORT FY2015 AT A GLANCE Entrepreneurship Course Sections Taught = 115 • 66 on-campus courses and 49 online courses JPEC Alumni* • 244 in FY2015 • 2,950 to date (since 1997) *Includes: BBA Entrepreneurial Management (Track), Certificate in Entrepreneurial Management, Technological Entrepreneurship Certificate, and Certificate in Performing Arts Entrepreneurship. Founders Club FY2015 To Date (since 2004) 60 businesses 324 student teams 82 participants 609 students impacted 33 jobs created 693 dedicated hours of one-on-one consulting Scholarships Awarded = $22,500 • 17 students received academic scholarships • Scholarships ranged from $500 to $2,500 Youth Impacted = 21,664 • 8,209 students impacted by BizInnovator Curriculum • 11,895 students impacted by STEM Innovator • $22,070 seed capital awarded in FY2015 • 57,126 youth impacted since 1996 9 Cohorts • 8 Venture Schools • 1 Summer Accelerator 66 teams • 182 participants • Location of cohorts: University of Iowa, Cedar Rapids, Cedar Falls, Davenport, Iowa City, Des Moines, Council Bluffs • 350+ hours dedicated to mentoring • 18 instructors trained in I-Corps/Lean LaunchPad since 2013 Economic Development ImpactAcademic Impact 3,883 8,937 13,633 242 $ 131,100 seed funding 229 894 525 8,773+ undergraduate enrollments program, seminar and workshop participants participants across all programs (including academic and outreach) startups served graduate enrollments clients assisted hours dedicated to clients 2014-2015 Venture School Statewide Expansion Venture School jobs created
  • 3. INTRODUCTION | 3 Dear Friends, JPEC continues to expand entrepreneurial education and outreach to accelerate growth and economic development. Lately, we’ve done so in part by adding a cadre of remarkable faculty and professional staff to our team. I am honored to be working with these individuals to achieve highlights such as these: • Expanding access to entrepreneurship education: In partnership with the College of Liberal Arts and Sciences (CLAS) and the Tippie College of Business, JPEC launched the BA in Enterprise Leadership major, combining advanced coursework in entrepreneurship, leadership and professional communications. • Enhancing the student entrepreneur experience: JPEC significantly enhanced its support for student entrepreneurs by forming the Founders Club ­— a program featuring professional mentoring, technical and prototyping assistance, and expanded seed funding opportunities. This is in addition to the Bedell Entrepreneurship Learning Laboratory, JPEC’s student incubation facility featuring student offices, conference rooms and collaboration space. • Supporting entrepreneurs statewide: JPEC offered Venture School in six different communities across Iowa. Venture School teaches entrepreneurs to properly evaluate their business concepts through customer discovery and strategic business analysis. The Office of the Vice President of Research and Economic Development and JPEC recently received a three-year grant from the National Science Foundation for Venture School to become Iowa’s first I-Corps site. • Introducing youth to entrepreneurship and innovation: The Jacobson Institute for Youth Entrepreneurship launched its second curriculum initiative, STEM Innovator, to assist high school teachers to incorporate entrepreneurship and innovation into high school STEM courses. This builds upon Biz Innovator, the program designed for high school business teachers. Our success doesn’t happen without active participation and support from successful entrepreneurs, business leaders, friends and alumni like you. Please contact me at david-hensley@uiowa.edu or call 319-335-1022 to become more involved with JPEC today. Sincerely, David Hensley Executive Director and Clinical Professor John Papppajohn Entrepreneurial Center NEW IN FY2015 • “Hawk Pitch” • Venture School Expansion • American Girl’s Entrepreneurial “Girl of the Year” • Sigma Nu Tau ACADEMICS BEYOND THE CLASSROOM EXTRACURRICULAR OPPORTUNITIES STUDENT COMPETITIONS PARTNERSHIPS 4 6 8 9 10 Photo Credit: Manny Albadab, IMU Marketing + Design CONTENTS 12 13 14 16 18 ACCELERATION COMMERCIALIZATION COMPETITIONS YOUTH OUTREACH ALUMNI NEW IDEAS
  • 4. ACADEMIC IMPACT 2015proved to be another thrilling year for the nationally recognized University of Iowa John Pappajohn Entrepreneurial Center (JPEC). With nearly 4,000 undergraduate enrollments and over 200 graduate enrollments, JPEC continues to be one of the largest entrepreneurial programs in the country. 2015 also gave rise to the BA in Enterprise Leadership. This major presents a unique blend of entrepreneurship, leadership and communication curriculum. The Enterprise Leadership degree encourages Liberal Arts and Sciences students to apply their knowledge and skills to entrepreneurial concepts and ventures. JPEC courses are taught by award-winning faculty and entrepreneurs who have built successful companies. ACADEMICS BEYOND THE CLASSROOM JPEC is committed to providing students with real-world experience. Whether it is an internship, a startup business, a part- time job or developing a new student organization, JPEC students are some of the most active on campus. In 2015, JPEC has served 242 startups and an estimated 525 jobs have been created. ACADEMIC PROGRAM HIGHLIGHTS Majors • BBA in Management/Entrepreneurial Management Track • BA in Enterprise Leadership Certificates • Certificate in Entrepreneurial Management • Technological Entrepreneurship Certificate • Certificate in Performing Arts Entrepreneurship ONLINE EDUCATION Some of the most popular opportunities for UI students are the BBA in Entrepreneurial Management, the BA in Enterprise Leadership and Certificate in Entrepreneurial Management offered online through the UI’s Division of Continuing Education. The certificate is also accessible through JPEC’s partnership with many Iowa community colleges. Nearly 50 online class sections were made available in the last year for students continuing their education online. NEW BA IN ENTERPRISE LEADERSHIP Extextbooks founder, Jacob Schmitz (Enterprise Leadership, ’16), has built a very successful startup. Since 2013, Schmitz has been buying used textbooks from UI students and reselling them. “I make it easy for students to sell their books at the end of the semester,” Schmitz said. “I pick up and pay on the spot.” “The textbook industry is rapidly changing, and I sell books online to wholesalers fast,” he said. “However, this can be a seasonally driven business. Jeff Nock (Entrepreneur-in-Residence at JPEC) has really helped me accelerate my business. In my model, I have to flip the books fast, as the next trend will be PDF textbooks.” Schmitz is already working on his next startup. He plans to enter the real estate business. Schmitz has also enrolled in the Enterprise Leadership major. “This major fit my needs and allowed me to take entrepreneurial classes while continuing to participate in the Founders Club with my office at the Bedell Entrepreneurship Learning Laboratory,” Schmitz said. Photo Credit: Mark Zhu, Student Life Marketing + Design 4 | JPEC 2015 ANNUAL REPORT
  • 5. ACADEMICS | 5 BLAKE RUPE (MA, International Studies, ’14) launched Re-APP Inc. in 2014 to enable people to measure and track their recycling efforts over time by using an app on a smartphone or tablet. Since then, Rupe’s app was featured in USA Today, NPR and Iowa Public Radio. It was also featured as one of the App Store’s “Best New Apps.” “We created this app to test whether a sustainability application could have a spot in the marketplace,” Rupe said. “We chose recycling because it’s a very intriguing target group where everyone does it, but nobody talks about it. We wanted to open the conversation about recycling with the hope that people would do it more.” “My time in the JPEC programs gave me the resources I needed to get Re-APP Inc. off the ground,” Rupe said. “I was given a mentor who still works with me to this day; one who really and truly cares about me as an entrepreneur and helps to see my business succeed. JPEC also provided work space, food, shoulders to cry on and a community of people who were in the same boat. Being around that energy and large pool of knowledge helped me see that I wasn’t alone. I could create a company if I wanted to.” “ “ Being around that energy and large pool of knowledge helped me see that I wasn’t alone. I could create a company if I wanted to. BLAKE RUPE MA, International Studies, '14 Photo Credit: Iowa Startup Accelerator
  • 6. 6 | JPEC 2015 ANNUAL REPORT BEYOND THE CLASSROOM BEYONDTHE CLASSROOM STUDENT STARTUP OF THE YEAR Western Wise, co-founded by student entrepreneurs Emily Roberts (Entrepreneurial Management and Spanish, ’16) and Chen Cui (PhD student, Computer and Electrical Engineering, ’16), received the Student Startup of the Year Award at the Discovery and Innovation Awards Ceremony. The ceremony was hosted by the Office of Vice President for Research and Economic Development to recognize faculty, staff, postdoctoral scholars/fellows, graduate students, undergraduate students and mentors who have demonstrated outstanding accomplishments for research in their field. Roberts and Cui were awarded $1,000 for this recognition. Western Wise uses native English speakers to provide online English tutoring to Chinese K-12 students. The company emphasizes passion, patience and dedication to create a unique one-on-one experience between tutors and their students. ENTREPRENEUR OF THE YEAR Tyler Finchum (BBA, Finance and Economics, Certificate in Entrepreneurial Management, ’15) was named Student Entrepreneur of the Year by the Collegiate Entrepreneurs’ Organization (CEO) at the National Conference in Orlando for his business, Farm Manuals Fast. His e-commerce site sells digital versions of operator’s manuals to farmers all over the world, “helping farmers get back to work fast,” according to the company’s website. Finchum’s revenue for his business is well into six-figures. “If it weren’t for the continual push from the mentors and teachers at JPEC, I don’t believe I would be at the point I am now,” Finchum said. ENGINEERING STARTUP OF THE YEAR Spectator, co-founded by Jon Myers (Mechanical Engineering, ’16) and Mitch Larson (Enterprise Leadership, ’17), received $7,500 for the Hubert E. Storer Engineering Student Entrepreneurial Startup Award. Spectator is a sports information company that connects fans with their favorite high school teams and provides them with easy access to high school sports statistics. Myers and Larson want Spectator to be the “ESPN of high school sports.” This past summer they participated in Nebraska’s Startup Accelerator, NMotion, to further develop and refine the Spectator business model. Mitch Larson, Lynn Allendorf, Jon Myers
  • 7. BEYOND THE CLASSROOM | 7 FOUNDERS CLUB The student business incubator housed at the Bedell Entrepreneurship Learning Laboratory (BELL) celebrated its 10 year anniversary as the innovative program that helps entrepreneurial students launch businesses. Since its inception, over 609 students and 324 student teams have started new businesses and participated in the Founders Club. In 2015, the incubator gave rise to an estimated 60 new startups with 83 participants. “The support that I’ve gotten from [Founders Club] has provided me with the resources and mentoring necessary to take my business to the next level,” said Andrew Shao (BBA, Entrepreneurial Management, ’15). Members of Founders Club receive access to free office space and equipment, one-on-one mentoring and coaching, funding opportunities, workshops, trainings, networking and community exposure. SIGMA NU TAU A new national entrepreneurial academic fraternity, Sigma Nu Tau, was established at UI JPEC in April. At the annual spring JPEC board meeting, 21 new student members were inducted during a special ceremony. Sigma Nu Tau was established in 2009 at the State University of New York. Currently, there are 19 chapters nationwide. The University of Iowa was the first Big Ten university chapter. “Sigma Nu Tau is a way to recognize students with outstanding academic performance who are pursuing a major or certificate in entrepreneurship, or the BA in Enterprise Leadership,” said Bob Walker, PhD the faculty advisor for Iowa’s chapter. Sigma Nu Tau members must hold a cumulative GPA of 3.2 or higher and junior standing or higher. Mackenzie Phillips receiving certificate Photo Credit: Ben Handler Sigma Nu Tau
  • 8. 8 | JPEC 2015 ANNUAL REPORT HAWKS DIVE WITH SHARK TANK STAR EXTRACURRICULAR OPPORTUNITIES Four University of Iowa students pitched their business plans to “Shark Tank” star, investor and fashion founder of FUBU, Daymond John, and other Iowa entrepreneurial experts at the Hawkeye Innovation Summit. The judges for the pitches were: John Pappajohn (BSC, Business, ’52), UI benefactor and Des Moines venture capitalist; Tom Bedell, UI alum, entrepreneur and benefactor of the Bedell Entrepreneurship Learning Laboratory (BELL); Sarah Fisher Gardial, dean of the Tippie College of Business; and featured guest, Daymond John. Andrew Shao (BBA, Entrepreneurial Management, ’15) was awarded first place and was presented $2,000 for his business venture, Test Buddy, a portable device aimed to give more desk space to students during tests. 1 2 3 4 1 #ThePeoplesShark Photos 2 4 by Tim Schoon/Strategic Communication 432 Photos 1 3 by Joe Photo/Impact Photography Second place and $1,000 were presented to Western Wise, founded by Emily Roberts (Entrepreneurial Management and Spanish, ’16) and Chen Cui (PhD student, Electrical and Computer Engineering, ’16). Western Wise is a service specializing in teaching English to children in China via online tutoring. Third place was given to Hawkeye football defensive back Anthony Gair (Communication Studies and Certificate in Entrepreneurial Management, ’16) for his invention Track Slides — coverings used to protect cleats and athletes, leg muscles. He was awarded $500.
  • 9. ROSE FRANCIS STUDENT ELEVATOR PITCH COMPETITION OPEN TO UI UNDERGRADUATE STUDENTS (65 ENTRANTS) $5,000 Test Buddy (Andrew Shao) $5,000 Iowa Adaptive Technologies (Ben Berkowitz) $2,500 Western Wise (Emily Roberts and Chen Cui) $2,500 Swvl Shkr (Connor Keane) $1,000 Deanna Marie Cosmetics (Deanna Dozer) $1,000 Mobile Water Solutions (Jake Fanella, Alex Fritz, Nick Fisher and Anthony Izerinskiy) $1,000 Spectator (Jon Myers, Mitch Larson, Brandon Kiefer and JD McCullough) $500 Tadpoll (Caroline Altenbern) $500 Goode Growth Associations (Sarah Goode) $500 Subscribr (Melanie Slattery) $500 GentlemenCare (Conor Paulsen, Lee Miller and Scott Lahn) THE STARTUP GAMES OPEN TO UI UNDERGRADUATE GRADUATE STUDENTS (64 ENTRANTS) $1,000 MentorMe (Dylan Jones and Tom Werner) $500 National College Gaming Association (Jacob Bunch, Connor Alne and Brandon DeMuynck) $300 JAC Mug (Michael F. Whetstone, George Daniel and Amanda Smith) $100 Wemote (Ben Vorwerk and Matt Cooper) VOLDING BUSINESS PLAN COMPETITION OPEN TO UI UNDERGRADUATE GRADUATE STUDENTS (29 ENTRANTS) $5,000 Spectator (Jon Myers, Brandon Kiefer and Mitch Larson) $3,000 Western Wise (Emily Roberts and Chen Cui) $2,000 Whexbook (Vuk Radosavljevic) COMPETITIONS | 9 FOUNDERS CLUB FAIR/YEAR-END COMPETITION OPEN TO UI STUDENTS IN THE FOUNDERS CLUB (30 ENTRANTS) $1,500 SWINEGUARD (Matthew Rooda) $1,000 Swvl Shkr (Connor Keane) $500 Test Buddy (Andrew Shao) $500 Lohman Earthworks (Pierce Lohman) $500 AppyHour (Neil Jirele) $500 Organizer (Eric Pahl and Dalton Shaull) $500 Fenceless Fences (Josey Jewell) HUBERT E. STORER ENGINEERING STUDENT ENTREPRENEURIAL STARTUP AWARD OPEN TO UI COLLEGE OF ENGINEERING STUDENTS $7,500 Spectator (Jon Myers, Mitch Larson, Brandon Kiefer and JD McCullough) IDEASTORM PITCH COMPETITION OPEN TO UI GRADUATE UNDERGRADUATE STUDENTS (30 ENTRANTS) $500 Quick Scripts (Eric Pahl) $400 Bid the Med (Sandeep Bodduluri) $300 Career Karma (Julian Valencia) $300 My Stuff App (Josh Giles) $200 Home Energy Monitor (Kayley Lain) THE COLLEGE OF BUSINESS FALL 2014 BOARD MEETING PITCH COMPETITION $500 Western Wise (Emily Roberts and Chen Cui) HAWKEYE INNOVATION SUMMIT EXPO (36 ENTRANTS) $1,000 Iowa Adaptive Technologies (Ben Berkowitz) $500 3D Digital Design Class (Monica Correia) $500 Valor (Madison Gingery) HAWKEYE INNOVATION SUMMIT HAWK PITCH (3 ENTRANTS) $2,000 Test Buddy (Andrew Shao) $1,000 Western Wise (Emily Roberts and Chen Cui) $500 Track Slides (Anthony Gair) STUDENT COMPETITIONS UI STARTUP OF THE YEAR $1,000 Iowa Approach (Steve Mickelson) UI STUDENT STARTUP OF THE YEAR $1,000 Western Wise (Emily Roberts and Chen Cui) AWARDS AND RECOGNITION
  • 10. 10 | JPEC 2015 ANNUAL REPORT ENTREPRENEURIAL MANAGEMENT INSTITUTE (EMI) is a partnership between the Tippie College of Business and JPEC where students gain real- world experience. 165 students participated in EMI in 2015. Students acted as consultants to 49 Iowa business organizations and entrepreneurs. They collaborate with company leaders to develop unique strategic market research, competitive analyses and financial assessments. This year, 6,720 hours have been dedicated to one-on-one consulting and an estimated 45 jobs were created. According to Ryan Ciepley (BA, Economics, Certificate in Entrepreneurial Management, ’14), “EMI was the most valuable experience. I learned so much that I use every day in my position with Becker Healthcare. I learned how to lead and manage people in incremental steps according to our plan and the project goals. The research we did for BlendCard taught me about how to listen to the customer, how to better understand target markets and how to apply that information into a meaningful plan.” “It was great to have passionate young entrepreneurs help a startup with limited resources,” said Paul Kongshaug, founder and CEO of BlendCard. “It provided incredible value to our company.” INSTITUTE FOR INTERNATIONAL BUSINESS (IIB) served 46 Iowa clients (nonprofit, NGO, retail, engineering and manufacturing) in 18 different countries and created 30 jobs in 2015. The mission of IIB is to foster international entrepreneurship through its partnership with EMI. IIB students managed 38 projects for companies pursuing new business opportunities globally. “In the past year, there has been an increased interest from Iowa small and mid-sized companies to go global, said Dimy Doresca, director of IIB. “Some of them are receiving inquiries from prospects in the Middle East, North and Sub-Sahara Africia and South Asia. There is also an interest in new foreign EXPERIENTIAL LEARNING LEADS TO PARTNERSHIPS PARTNERSHIPS Ryan Ciepley Dimy Doresca Kristin Knudson markets with growing middle classes demanding better products and services. Engaging UI students as consultants, IIB has helped clients with opportunity assessments and international business risk analysis as they engage in foreign market investments.” IOWA INNOVATION ASSOCIATES (IIA) provided 74 students with internships, and over 40 clients were served in 2015. IIA provides experience to qualifying undergraduate and graduate students by pairing them with Iowa businesses, startups and research organizations based on students’ career goals. “My internship through IIA gave context to the information in my engineering classes,” said Ella Wassweiler (Electrical Engineering, ’15). “Now I have the design experience necessary to build even more complicated circuit boards for my research.” “For very early stage companies with limited resources, IIA is a great option,” said Ben Berkowitz, (BSE ’10; MS, ’12), co-founder of Voxello (Iowa Adaptive Technologies). “We were able to provide a competitive wage while on a minimal budget. Since the students were hired through IIA, I was saved from having to deal with HR and accounting, and it really streamlined the process of hiring an international student.” IOWA MEDICAL INNOVATION GROUP (IMIG) provides an interdisciplinary opportunity at Iowa for students from the Colleges of Business, Engineering, Law and Medicine to work together to create innovative solutions. In 2015, 46 students along with 8 faculty mentors developed 5 new devices, therapies or new models of care. “I worked with a team on improving the Foley catheter, said Kristin Knudson (BSE, Biomedical Engineering, ’12; MSC, Biomedical Engineering, MBA ’16). “It was a great opportunity to solve a real problem and work with experts in law, medicine, engineering and entrepreneurship. It was exciting to participate in the business plan competitions, and win!” Paul Kongshaug
  • 11. HAWKEYE INNOVATION SUMMIT The third annual Hawkeye Innovation Summit was held to celebrate innovation and entrepreneurship across the UI campus. The spring event included a panel of well-known JPEC alumni sharing their success stories, as well as a variety of breakout sessions and STEM Innovator Pitch-It-to-Win-It Competition. The alumni panel was moderated by lecturer and lead instructor for UI’s Venture School, Kurt Heiar. A panel discussion entitled “It All Started Here: Making Bank for Your Business” included: COO and chief educator of Pear Deck, Michal Eynon-Lynch; co-founder and CEO of clusterFlunk, AJ Nelson; founder and CEO of TelePharm, Roby Miller (BA, Interdepartmental Studies, '10); and co-founder, president and CEO of Higher Learning Technologies, Alec Whitters. The four panelists have raised between $1 to 6 million each in their respective startups. All agreed that networking and building relationships continue to be critical for getting investors on board to fund ideas. The event was hosted in collaboration with the Office of the Vice President for Research and Economic Development, UI John Pappajohn Entrepreneurial Center, University of Iowa Research Foundation, University of Iowa Research Park and University of Iowa Small Business Development Center. INNOVATION EXPO A crowd of more than 600 attendees from all over Iowa and neighboring states attended the fall Innovation EXPO. The EXPO was co-hosted by Entrepreneurial Development Center (EDC) of Cedar Rapids, Iowa Inc., Technology Association of Iowa (TAI), University of Iowa JPEC and Iowa Fund of Funds. The EXPO created a forum where entrepreneurs, business leaders and financial resources could connect, exchange ideas and showcase new innovations. The Entrepreneurial Showcase featured 80 entrepreneurs and inventors, and 15 UI startups. EntreFEST With more than 1,000 attendees, 2015 EntreFEST provided an outstanding showcase for national speakers like Seth Godin and Ben Milne, as well as statewide leaders like Lt. Gov. Kim Reynolds. Also in attendance was Iowa Board of Regents President, serial agriculture entrepreneur and CEO of Summit Group, Bruce Rastetter (BA, Political Science, '78). These speakers provided more than 115 unique sessions, celebrated entrepreneurialism with festive events and honored entrepreneurial icon and JPEC benefactor, John Pappajohn, with a Lifetime Impact Award. Like its audience, EntreFEST has been evolving for eight years, and has now declared its new home to be Iowa City. With new events like speed networking, product showcases and fashion shows, EntreFEST’s 2015 focus was to help local entrepreneurs build new networks, become better leaders, respond to service needs and develop partnerships. EntreFEST was presented by the University of Iowa, University of Northern Iowa and Iowa State University. The event is supported by over 50 private and public organizations supporting entrepreneurship and innovation in the Midwest. PARTNERSHIPS | 11 Photo Credit: Justin Torner Photo Credit: Joe Photo/Impact Photography PARTNERSHIPS THAT CELEBRATE IOWA INNOVATION CORPORATION
  • 12. 12 | JPEC 2015 ANNUAL REPORT VENTURE SCHOOL ACCELERATION “ “ VENTURE SCHOOL UI Venture School is an intense six-week program for entrepreneurs capitalizing on the University’s resources, dynamic training and fostering an innovative ecosystem to startups. Employing the Lean LaunchPad methodology, Venture School allows entrepreneurs to evaluate their business model through customer discovery and mentor feedback. Venture School also emphasizes real-world entrepreneurship through experiential learning, featuring a flipped classroom and immediate mentor feedback. Through a joint effort between the Office of the Vice President for Research and Economic Development and JPEC, Venture School has been awarded National Science Foundation (NSF) I-Corps Site designation, making it Iowa’s leader in entrepreneurial education. Venture School was developed with the NSF curriculum used at Stanford University and the University of California, Berkeley. Venture School began in Iowa City in 2013, then expanded across Iowa to 6 cities (Des Moines, Cedar Falls, Cedar Rapids, Council Bluffs, Davenport, Iowa City) and will soon host its first cohort in Sioux City. Venture School's statewide growth would not have been possible without educational partners like: Eastern Iowa Community College, Kirkwood Community College, Iowa Western Community College, North Iowa Area Community College, the University of Northern Iowa and Iowa Western Technical Community College. To date, UI Venture School has had 81 teams and started 31 new businesses. Participants have had the benefit of counsel from 100 Venture School mentors in a network that has helped VENTURE SCHOOL STUDENT ACCELERATOR JPEC also sponsors the Venture School Student Accelerator program, which is an intense nine-week program for student entrepreneurs. The Venture School Student Accelerator has been designed for innovative and creative students who are looking to pursue entrepreneurship as a career. After completing the Student Accelerator, startups continue to have access to numerous University of Iowa resources, including strategic business assistance, technology consulting services, prototyping assistance and internship programs. 23 teams have participated in the Student Accelerator and 13 have started businesses. Two of these teams have gone on to Iowa Startup Accelerator and NMotion. VENTURE SCHOOL BUSINESS MODEL COMPETITIONS $40,000 was awarded to UI Venture School alumni teams at the Venture School Business Model Competitions held in the fall and spring. Teams from all over the state of Iowa pitched their newest business models to groups of investors, mentors and entrepreneurs. Venture School trains entrepreneurs to connect with real customers to validate their business model, increasing the likelihood of success.When a team comes into the program, we help guide them through early stage market research, provide mentors with real world experience and then connect them with other resources,enabling them to more confidently launch their business. DAVID HENSLEY Executive Director of the UI John Pappajohn Entrepreneurial Center Lynn Allendorf Elizabeth Caven, UpCraft Club 2015 Student Accelerator train the 236 entrepreneurs who have attended Venture School. Approximately $725,000 has been raised by Venture School teams. 4 teams were nominated for the 2015 Prometheus Award, and 2 were accepted into the Iowa Startup Accelerator (ISA).
  • 13. COMPETITIONS | 13 COMMERCIALIZATION COMPETITIONS BUSINESS MODEL COMPETITION OPEN TO UI FACULTY, STAFF, STUDENTS, UI RESEARCH PARK BELL TENANTS (48 ENTRANTS) $7,500 Western Wise (Emily Roberts and Chen Cui) $2,500 CartilaGen (Ma [Mark] Tianxiang) $2,500 Track Slides (Anthony Gair) $2,500 Epileptic Seizure Monitoring System (Kwan Lee) $2,000 Needle Eye Medical (Kristin Knudson) $2,000 College Gaming Series (Connor Alne) $1,000 Re:fresh (Alanna Rumler) $1,000 Valor (Madison Gingery) $1,000 Wihsil (Zach Musselman) $1,000 Shake It, LLC / Glimpse [Drake] (Ethan Turner) $500 Whexbooks (Vuk Radosavljevic) $500 Swvl Shkr (Connor Keane) $500 Spectator (Jon Myers, Brandon Kiefer, JD McCullough and Mitch Larson) $500 ORGANizer (Eric Pahl) VENTURE SCHOOL BUSINESS MODEL COMPETITION OPEN TO VENTURE SCHOOL ALUMNI FALL (39 ENTRANTS) $10,000 Iowa Adaptive Technologies (Ben Berkowitz) $6,000 Spectator (Jon Myers, Brandon Kiefer, JD McCullough and Mitch Larson) $4,000 Infondrian (Junyi Xia) SPRING (12 ENTRANTS) $10,000 UpCraft Club (Elizabeth Caven) $6,000 College Recruit U (Julie Kent) $5,000 Immortagen (Kristi Thiel) $4,000 GoQuets (Shawn Harrington and Lyndsay Clark Horgan) INTERNATIONAL BUSINESS MODEL COMPETITION $2,000 QUARTER FINALIST Western Wise THINKCHICAGO CONFERENCE ATTENDEE Farm Manuals Fast ATTENDEE Test Buddy NATIONAL CEO COMPETITION STUDENT ENTREPRENEUR Tyler Finchum OF THE YEAR 2014 -15 EO IOWA FELLOWSHIP PROGRAM ACCEPTANCE INTO PROGRAM Ellison Eyewear YOUNG ENTREPRENEURS IN FRANCHISING ACCEPTANCE INTO CONFERENCE Deanna Dozer SAN DIEGO LEAN MODEL COMPETITION SEMI FINALS: TOP 25 OVERALL Wihsil TOP 5 IN CATEGORY BAYLOR NEW VENTURE COMPETITION SEMI FINALIST Wihsil SOUTHERN CALIFORNIA ENTREPRENEURSHIP INNOVATION COMPETITION THIRD PLACE Edible Innovations 5TH TEEC CUP AMERICAN ENTREPRENEURSHIP COMPETITION TOP 10 PLACING Edible Innovations STU CLARK INVESTMENT COMPETITION IN MANITOBA SEMI FINALIST - $781 Career Company DREAM BIG, GROW HERE PARTICIPANT Career Company PROMETHEUSAWARDS(TECHNOLOGYASSOCIATIONOF IOWA) STUDENT INNOVATION Spectator OF THE YEAR FINALIST STUDENT INNOVATION Western Wise OF THE YEAR FINALIST STUDENT INNOVATION Wihsil OF THE YEAR FINALIST 2015RICHARDSBARRENTINEVALUESVENTURES BUSINESSPLANCOMPETITIONATTCU SEMI FINALIST - $100 Spectator CHICAGO MIDWEST TRADING COMPETITION PARTICIPANT Voyager Investment Technologies UNIVERSITY INNOVATION FELLOWS ANNUAL MEET-UP ATTENDEE Aaron Goddard ATTENDEE Anastasia Hertz INFONDRIAN, LLC. One of the winners from the Venture School business model competition, Infondrian, LLC., was founded by two UI faculty members of radiation oncology at the University of Iowa Hospitals and Clinics, Junyi Xia, PhD, and Alfredo Siochi, PhD. Infondrain was awarded $4,000 at the competition for its innovative software solutions to automate treatment error detection and optimize clinical workflow. ChartAlert MVP is their software solution presently in development and testing phase. Venture School was a fantastic experience for our team; it was business 101 to us. After completing Venture School, we understood that the most important factor of a successful product is to understand and solve the customer's problems through customer discovery, said Xia. REGIONAL/NATIONAL COMPETITIONS Junyi Xia, PhD Alfredo Siochi, PhD
  • 14. 14 | JPEC 2015 ANNUAL REPORT INSTITUTE JACOBSON FOR YOUTH ENTREPRENEURSHIP The University of Iowa YOUTHOUTREACH BIZINNOVATOR BRINGS ENTREPRENEURSHIP TO HIGH SCHOOLS Since its national release two years ago, BizInnovator, an entrepreneurial online curriculum designed for high school business teachers, has been adopted by teachers across the country and reached approximately 11,000 high school students. Also exciting, business teachers from 17 states have completed the BizInnovator Teacher Certification, and are able to offer UI college credit in entrepreneurship to qualified high school juniors and seniors. The first cohort of 71 students earned University of Iowa entrepreneurship credit this spring. “BizInnovator has provided a curriculum at the high school level and fantastic exposure for the University of Iowa and the John Pappajohn Entrepreneurial Center’s outstanding undergraduate entrepreneurship program,” said Dawn Bowlus, director of the Jacobson Institute for Youth Entrepreneurship. AMERICAN GIRL CREATES YOUNG ENTREPRENEUR GIRL OF THE YEAR WITH JACOBSON INSTITUTE ASSISTANCE In 2013, Jacobson Institute Director Dawn Bowlus was invited to participate with the American Girl creative team on their 2015 Girl of the Year, young entrepreneur Grace Thomas. “The opportunity to work with American Girl and help influence what entrepreneurship means to thousands of children nationwide was a dream come true,” Bowlus said. Bowlus consulted on three American Girl books and a curriculum guide, which were all released nationwide in January 2015. The stories tell about the adventures of Grace, a 9-year-old entrepreneur who starts a baking business with her friends. Bowlus ensured that the entrepreneurial and business details reflected real-world challenges that startups face. The guide for Grace features the Jacobson Institute’s curriculum and allows doll owners to learn about entrepreneurship. “American Girl is very popular and helps kids to grow up thinking: How do I become more creative? How do I innovate new ideas? How do I do things differently? How can I do what I want to do?” Bowlus said. Photo Credit: David Scrivner, Iowa City Press-Citizen YEAR ONE 71 high school students nationwide have earned UI college credit in entrepreneurship REACHING YOUNG ENTREPRENEURS NATIONWIDE
  • 15. STEM INNOVATOR HELPS DAVENPORT STUDENTS TAKE HOME THE CASH Entrepreneurial education partners, Dawn Bowlus and Leslie Flynn (Clinical Assistant Professor, Teaching and Learning, College of Education), have created a new didactic partnership with the United States Patent and Trademark Office (USPTO) to help K-12 students deliver their concepts and solutions to the marketplace. One example of their new teaching method was showcased at the spring JPEC Advisory Board meeting. A student team from Davenport West High School pitched their new invention, Endotherm, to the board. Endotherm helps to prevent vehicular heat stroke deaths in young children and pets, an occurrence that happens most frequently from a child or pet being left alone in a vehicle unintentionally. These students created a winning solution to a deadly problem, and on the spot, the team was awarded $11,000 in seed capital investment funds. Endotherm is currently working with the U.S. Patent and Trademark Office to protect their intellectual property. Davenport West was one of 15 high schools in the country to be recognized as a Lemelson-MIT InvenTeam. The Jacobson Institute invited the team to practice their pitch and get valuable feedback at 1 Million Cups and the UI Venture School. During the summer, the team served as a model for K-12 teachers nationwide as they presented in the student showcase at the USPTO National Summer Teacher Institute in Dallas. FY2015 AT A GLANCE: YOUTH OUTREACH OVERALL IMPACT YOUTH OUTREACH | 15 $ 22,070Seed Capital Awarded to High School Students 11,895High School Students Impacted by STEM Innovator Program 21,664Students Impacted Through Youth Outreach Initiatives in 2015 57,126Students Impacted Through Youth Outreach Initiatives Since 1996 Endotherm Team BIZINNOVATOR CURRICULUM Active Teachers 608 8,209 Students
  • 16. 16 | JPEC 2015 ANNUAL REPORT JIM COBLE BBA, Marketing, Management Organizations, ’04, Founder, 13 Fishing, Tampa, Florida “LearningfromexperiencedmentorslikeTomBedell wasinvaluableasastudent,andithasbeennicetoshare whatIlearnedthroughtheprogramwithstudentsatthe BELL.AnotherimportantthingIlearnedatIowawasthe networkingopportunities.Youhavetokeepyourearto theground — youneverknowifanopportunityisgoing tocomeyourway.” STACY KELSEY BA, Journalism and Mass Communication, Certificate in Entrepreneurial Management, ’10, Founder, The Kelsey Experience, Fashion Editor, EncoreHD Magazine, Atlanta “Ireallyenjoyedtheleadershipandthepositive environmentatJPEC.Theprogramwasneverboring becausetherewasalwayssomethingtogetinvolved in.Whileintheprogram,mymentorsandtheguest speakersgavesomuchwisdomandadvicetolasta lifetime. JPEChelpedmebuildstructureandgave medirectionfortakingmyentrepreneurialskillsto thenextlevel.Theprogramislikenootherbecause youhavementorsandleaderswhodoanything andeverythingtohelpyousucceed.Iwouldhighly recommendthisprogramaboveanyotherbecause theleadershipyoureceiveissogenuine.” BRANDON CAMPBELL BA, Journalism and Mass Communication, International Studies, Certificate in Entrepreneurial Management, ‘04, Founder, Little Rock Fashion Week (LRFW) and more recently, Oneofakind Talent, Inc., Little Rock, Arkansas “I remember interning in New York City, sitting at MTV when I received a call from [JPEC] saying that I had won the Edward M. Moldt scholarship. It showed me that I was on the right track, and that you can dream big. Winning that award let me know that you can go for it when you are a student.” TIME WELL SPENT ALUMNI DEANNA DOZER BA, Political Science, Certificate in Entrepreneurial Management, ’15, Founder, Deanna Marie Cosmetics, Law student, Naples, Florida “I can be somewhat disorganized, and I needed to streamline my time getting ready. I had an idea in mind for a product that would combine mascara and an eyelash curler. Once I had taken a couple of JPEC courses, I shared my idea with Jeff Nock and Lynn Allendorf, who encouraged me to begin by doing research using the customer discovery process. My dad used to tell me, ‘It just takes one idea,’ and Deanna Marie Cosmetics was born. The research validated my idea; I made a 3D prototype and applied for a patent. There is still more work before it is on the open market, but I can do that while I am in law school.” STACEY RODENKIRK BA, Economics, Certificate in Entrepreneurship, ’03, Project Manager, Comcast, Philadelphia “JPEC has instilled five core concepts in me that I carry with me daily—stay thirsty for opportunity, hustle, never settle, be proud of your authentic self and be kind and respectful to others.” AUSTIN REICHARDT BBA, Finance, ’09, Associate, Acuity Capital Partners, Chicago “I enjoy my private equity position, but have always wanted to have my own business and give back. One of the reasons why I wanted to become an apparel entrepreneur was to pay tribute to my grandfather, Bill Reichardt (BA, ’51), former UI gridiron standout, who was a well-known entrepreneur in Des Moines. He was the business: traditional style, a dedication to total quality and always available to his customers. I grew up in his store and have always worn classic button-downs. In 2013, I started Reichardt Threads to solve the problem of wearing shirts untucked. We adopted my grandfather’s former label for the company, squared off the shirt’s hem and took the bulk out. With each shirt sold, we donate a percentage to KIVA and provide microfinance loans to entrepreneurs in Third World countries. The entrepreneurial classes I took at Iowa taught me how to write the business plan and get it all rolling. Thanks, Professor Hauser.” TELL US WHERE YOU ARE NOW WITH #JPECalum
  • 17. ALUMNI | 17 HAWK POWER: BLUE CHIP STARTUPS ALUMNI | 17 AJ NELSON AND JOE DALLAGO Co-founders, clusterFlunk, Iowa City “TheBedellEntrepreneurshipLearningLaboratoryhelpedpropelustoraise overonemillioninventurecapitalandbuildproductsthatservehundredsof thousandsofusers.WeʻrecurrentlyworkingonclusterFlunkandournewest educationproduct,Pi.” HUNG TRAN MS, Computer Science, ’10; PhD, Computer Science, ’12, Founder and CEO, GotIt! (Tutor Universe), Menlo Park, California “AtthetimeIjoinedJPEC,Ididn'thavemuchexperienceinfoundingandrunning astartup.However,Iquicklylearnedthenecessaryknowledgeandskillsfrom Lynn,DavidandJPECclassestohaveasolidfoundationtogetGotIt!(Tutor Universe)offtheground.WecontinuedgettingmoresupportfromJPECatthe [FoundersClub]andCoLabtocontinuouslygrowGotIt!andturnitintoahot startupinSiliconValley. “Whatwearedoingnowiswaybiggerthanthetutoringbusinessthatthecompany startedwith.Wearebuildingan‘OnDemandPlatformforKnowledge.’Imagine thatwhenyouhaveaproblemandyouneedhelp,youtakeapictureofthe problemandposttotheplatform;withinsecondssomeonestartsworkingonit andwithinminutesyouhaveanexpertexplanationback.Howcoolisthat?” BEN BERKOWITZ BSE, Biomedical Engineering, '10; MS, '12, Co-founder, Voxello (Iowa Adaptive Technologies), Coralville, Iowa “JPEChelpedtoprovidemewiththeentrepreneurialknowledgeandthebasis forcapitalizationnecessarytofundanewcompany.Essentially,JPECprovided mewithwhatIneededtoknowinordertosurviveinthebusinessworld.” ADAM KEUNE Co-founder and Chief Business Development Officer, Higher Learning Technologies, Coralville, Iowa ”JPECwasinstrumentalinmydevelopmentasanentrepreneur.Thecourses ItookwhileatIowasparkedapassionforwantingtostartmyownbusiness. OneofthemostvaluablethingsItookawaywasthatthereisnooneanswer toanyprobleminentrepreneurship.Nomatterhowmuchyoureadandstudy entrepreneurship,management,marketingandmore,youwillstillhavetocome upwithsolutionsonyourown.Itispartofwhatmakesbeinganentrepreneur somuchfun.Everybusinesswillhaveuniqueproblemsthatrequireunique solutions,andmyprofessorswereveryadamantaboutthat.Obviously,learning aboutthingslikebusinessplansandfinancialmodelswascritical,buttherewas nobookcalled‛HowtoBuildHigherLearningTechnologies.ʼThatbookisstill beingwritten.“
  • 18. LECTURE SERIES JPEC sponsors several speaker series each year designed to bring successful entrepreneurs and business leaders to campus, giving advice and inspiring students and entrepreneurs alike. These events also provide outstanding networking opportunities. HUGHES LECTURE SERIES • Featured panelists: Alec Whitters, co-founder and CEO of Higher Learning Technologies; Ravi Patel, president of Hawkeye Hotels; Aristotle Loumis, founder and CEO of Ellison Eyewear; Roby Miller, founder of TelePharm • Panel discussion “Startup Stories” • 210 attendees SANDAGE LECTURE SERIES • Featuredspeaker:Todd P. Smith (BBA,'90,MBA '96), founderandmanagingdirectorofDreamfield Ventures • Lecture entitled “The Gift of Failure: Powerful Lessons from an Entrepreneur’s Real-Life Adversities” • 387 attendees BEN S. SUMMERWILL LECTURE • Featured speaker: Jake Wood, author, co-founder and CEO of Team Rubicon • Presented by MidWestOne Bank • 350 attendees NEW IN 2015 New to the JPEC team in 2015 and bringing their entrepreneurial expertise with them were Jeff Nock and Bob Walker. Jeff Nock serves as the lecturer and faculty advisor for Founders Club. He mentors more than 50 students founding startups, creates networking opportunities and coaches students competing for funding competitions. Nock has been involved in three tech startups and one global nonprofit startup. Bob Walker is a lecturer and faculty advisor for I-Envision and Sigma Nu Tau. He has 24 years of teaching experience in higher education, previously as an associate professor and the coordinator for the Banking Finance Degree and Management Degree with Kirkwood Community College. Walker was also an associate professor and chair of the department of business at Mount Mercy University. SMALL BUSINESS DEVELOPMENT CENTER (SBDC) America’s SBDC at the University of Iowa was established in 1981 as one of the four original centers in Iowa. The center has been an active part of the Tippie College of Business, the Iowa Centers for Enterprise and UI JPEC. In 2015, SBDC Regional Director Paul Heath and his team provided more than 760 hours of consultation to clients and $9,487,000 in total capital. 261 clients received advice from the SBDC and 225 new jobs were created. The Center provided 11 workshops and conferences, which were attended by 198 interested entrepreneurs. CONNECTING WITH JPEC You are important to JPEC students and to our nationally recognized program. Please consider coming back to campus to judge a business plan competition or to mentor a student or a startup. Support JPEC by providing necessary funds to support student organizations, scholarships or Founders Club. We hope you will plan now to join us next year at homecoming at the annual JPEC Alumni Networking Reception. Your support contributes to our success. #ItAllStartsHere INNOVATION INSPIRATION 18 | JPEC 2015 ANNUAL REPORT NEWIDEAS Jake Wood Paul Heath Jeff NockBob Walker “ “ FoundersClub, JPECʼsstudentbusiness incubator,providesan entrepreneurialecosystem thatenablesstudent businessfoundersto launchinnovative, successfulbusinessesina myriadof industries. JEFF NOCK JPEC Lecturer and Faculty Advisor for Founders Club Photo Credit: Alberto Vasari @iowajpec (UI Entrepreneurship) @iowajpec (UI Entrepreneurship) John Pappajohn Educational Center at the University of Iowa John Pappajohn Educational Center at the University of Iowa
  • 19. HIGHLIGHTS | 19 HEREʻS WHAT YOU MISSED: FY2015 • Jacobson Institute Entrepreneur Camps • JPEC wins Service Provider of the Year — Silicon Prairie Awards • STEM Innovator Teacher Institute launched • Founders Club Fall Competition • Internship panel by Alumni Board • Sandage Lecture Series: Todd P. Smith • American Girl releases Grace with help from Jacobson Institute • Venture School — Cedar Falls and Iowa City/ Cedar Rapids • National Business Model Competition • MidWestOne Summerwill Lecture: Jake Wood • Venture School — Quad Cities and Western Iowa • Volding Business Plan Competition • The Startup Games • Hawkeye Innovation Summit and EXPO • Venture School — Cedar Rapids • Statewide Pappajohn Student Entrepreneurial Venture Competition • Founders Club BizFair and Awards Ceremony • EntreFEST • Venture School Student Accelerator • Jacobson Institute’s BizInnovator Competition goes national • Venture School — Des Moines • ENTREdays: Startup Stories, IdeaStorm • UI JPEC Homecoming Networking Reception • Innovation Expo • Venture School — Cedar Falls JULY-AUGUST NOVEMBER-DECEMBER SEPTEMBER-OCTOBER JANUARY-FEBRUARY MAY-JUNE MARCH-APRIL
  • 20. ADVISORY BOARD STAFF 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 ALUMNI BOARD DAVID HENSLEY Executive Director and Clinical Professor • LYNN ALLENDORF Director • DAWN BOWLUS Director, Jacobson Institute for Youth Entrepreneurship • PAUL HEATH Regional Director, Small Business Development Center • DIMY DORESCA Lecturer and Director, Institute for International Business • PHIL JORDAN Tippie Business Liaison • JENNIFER BANTA JPEC Training and Engagement Liaison • AMY JO REIMER-MYERS Associate Director, Educational Outreach • PATRICIA WEILAND Accountant • PATRICIA WHIDBY Department Administrator • CLAIRE MCGRANAHAN Digital Marketing Manager • LAURA TAYLOR Associate Director of Marketing • JEFF NOCK Lecturer and Faculty Advisor for Founders Club • BOB WALKER Lecturer and Faculty Advisor for I-Envision and Sigma Nu Tau • KURT HEIAR Lecturer and Entrepreneur-in-Residence • JOE SULENTIC Lecturer • KEVIN KRAUSE Lecturer TOM BEDELL CEO, Two Old Hippies • JOHN BUCHANAN Founder, RBP; a Marsh McLennan Company • BARRY BUTLER UI Executive Vice President and Provost • TOM CARDELLA President, Thomas L. Cardella Associates • CHADEN DJALALI Dean, UI College of Liberal Arts and Sciences • SARAH FISHER GARDIAL Dean, UI Henry Tippie College of Business • RICHARD JACOBSON Founder Chairman Emeritus, Jacobson Companies • KEVIN KRAUSE Krausewa, L.C. • JOHN PAPPAJOHN President, Equity Dynamics Inc. • DANIEL REED UI Vice President for Research and Economic Development • JEAN ROBILLARD, MD UI Vice President for Medical Affairs • DON SCHOEN Founder CEO, BettrLife • DEBRA SCHWINN, MD Dean, UI Roy J. and Lucille Carver College of Medicine • ALEC SCRANTON Dean, UI College of Engineering • DENNIS SPARKS Director Global Logistics and Supply, Pfizer Inc. BEN ANDERSON Founder, Bandwidth Pool • JOE CORTESE Managing Director, Vilas Capital Management LLC • JARED GARFIELD Co-founder CTO, Corvida Medical • JOSH KRAKAUER CEO Co-founder, Sculpt • JOHN MICKELSON Founder and Managing Partner, Midwest Growth Partners • PATRICIA MILLER President and CEO, Matrix IV • ROBY MILLER Founder, TelePharm • RAVI PATEL Principal and President, Hawkeye Hotels • BRAD PHILLIPS Managing Partner, Phillips Stafford Insurance Group • ANNE PRICE Nanny TIM RYPMA Manager, R.E. Properties LLC • JASON TROUT Co-founder, Good Blogs • ZAC VOSS Founder and President, Voss Distributing LLC • LAURA WESTERCAMP Management Consultant, Accenture