2020-2021 Georgetown Entrepreneurship Annual Report by Georgetown University McDonough School of Business

CREATE THE FUTURE

A N N U A L

R E P O R T

2 0 2 0 – 2 0 2 1

TABLE OF CONTENTS Letter from Jeff Reid.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Our Team and Advisory Group.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

EVENTS Rocket Pitch. ........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Bark Tank. .............. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Georgetown Entrepreneurship Challenge. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 COVID-19 Design Challenge. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Paul and Carol Hill Speaker Series. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

MENTORSHIP Entrepreneurs in Residence and Experts on Call.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Chalk Talks. ............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

CAREER Georgetown Startup Interns.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Venture Fellows....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Startup Career Fair. . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

ACADEMICS Entrepreneurship Minor.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Entrepreneurship Fellows. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

IMPACT Pivot Program......... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

VENTURE LAB Forward Vision — Relocated Venture Lab. . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Georgetown Startup Accelerator.. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

STUDENT ORGANIZATIONS Georgetown Ventures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Venture Capital Investment Competition. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 MBA Entrepreneurship and Venture Capital Club. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

ADDITIONAL SUPPORT Summer Launch Incubator. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Startup Stipend. ...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

Georgetown Entrepreneurship Annual Report 2020–2021 | 1

Georgetown Entrepreneurship has always championed the idea that entrepreneurship is one of the world’s most powerful forces for positive change. That vision guides everything we have done over the years in our mission to inspire an entrepreneurial mindset in every student that comes to the Hilltop. Supported by our Jesuit values, the distinctive notion of entrepreneurship for the common good has set us apart from other top programs. Our diverse and inclusive community has never failed to rise to the occasion to support one another, promote social justice, and help solve the world’s problems. That’s why I’m proud to present our 2020-2021 Annual Report, a testament to what our brilliant community has achieved — even in the face of a global pandemic.

JEFF REID Founding Director, Georgetown Entrepreneurship Professor of the Practice, McDonough School of Business In January 2021, Jeff Reid was awarded the prestigious Longenecker Fellowship by the United States Association for Small Business and Entrepreneurship, the world’s largest community of entrepreneurship educators, in recognition of his lifetime contributions to entrepreneurship education.

Four years ago, the Georgetown University Entrepreneurship Advisory Group challenged us to expand our programming. With support from university leaders and generous donors, we met that challenge with the addition of several strategic initiatives, including: • The introduction of an Entrepreneurship Minor. • Ramping up student engagement with expanded pitch competitions including Bark Tank/Leonsis Family Entrepreneurship Prize and the multi-round Georgetown Entrepreneurship Challenge. • Offering support to alumni through the creation of the Georgetown Venture Lab, which recently reopened in a new location overlooking the Georgetown Law Center — and by supporting the creation of the Georgetown Angel Investment Network with our partners in the Georgetown Entrepreneurship Alliance. • Serving communities beyond Georgetown University with programs such as the Pivot Program for returning citizens, TalentUP program for international entrepreneurs, Hacking for Defense and Diplomacy programs serving U.S. government agencies, and engaging with the growing D.C. startup community. While the COVID-19 pandemic created many challenges for academia, we believe disruption creates opportunities. Our pivot to remote delivery was smooth and our programs were uninterrupted. We even added significant programs, such as: • The Georgetown Startup Accelerator, for alumni-owned ventures, spearheaded by Venture Lab Manager Callie Jacobs. • A virtual COVID-19 Solutions Hackathon for students to brainstorm and create market-based solutions to the disruptions caused by the coronavirus. • Virtual mentorship opportunities for students attending Georgetown University’s Doha, Qatar, campus. • A new effort to match students with internships in startups and high-growth companies, led by Student Programs Manager David Lange. As we reflect on the past year, we will keep our eyes on the future. We recently welcomed globally-recognized scholar Gerry George, professor of management, as our new academic leader, and our future plans include an even greater emphasis on entrepreneurship for the common good. The success of our efforts is dependent on engagement, leadership, and support from our broader community. We thank you for your contributions to Georgetown Entrepreneurship, and we hope you will join us on the Hilltop soon. Hoya Saxa!

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OUR TEAM AND ADVISORY GROUP TEAM

ADVISORY GROUP

Gerry George Director and Professor of Management

BOARD CHAIR Ted Leonsis (C’77, P’14, P’15) Founder, Chairman, and CEO, Monumental Sports & Entertainment

Jeff Reid Founding Director and Professor of the Practice of Entrepreneurship Ben Zimmerman (MBA’19) Managing Director Alyssa Lovegrove Senior Advisor and Professor of the Practice of Entrepreneurship Callie Jacobs Lab Manager, Georgetown Venture Lab David Lange (MBA’23) Campus Program Manager

BOARD VICE CHAIR Doug Knopper (MBA’85) Co-Founder and CEO, FreeWheel TV Melissa Akkaway (B’01) Partner, Block 16 Hospitality Laura Ferris Anderson (I’89, MBA’97, MPP’97) Chair, Revieve Joe Baker (C’98) Founder, Yee-Haw Brewing and Ole Smoky Moonshine Distillery Michael Brown (B’94) General Partner, Battery Ventures

William Byrnes (B’72, L’81) Trustee, Washington REIT

Arthur Minson (B’92) Chair, Two Birds

Michelle D. Freeman (P’13) Chairman and President, Carl M. Freeman Foundation

Jonathan Neman (B’07) Co-Founder and Co-CEO, Sweetgreen

Arun Gupta Venture Partner, Columbia Capital Gretchen Hansen (SFS’90) Principal, Frisco Investments LLC Nicolas Jammet (B’07) Co-Founder and Co-CEO, Sweetgreen Zach Leonsis (MBA’15) Senior Vice President, Strategic Initiatives, and General Manager, Monumental Sports Network

Neel Premkumar (B’02) Founder and CEO, Dyla Brands David Roux Managing Partner, BayPine Nathaniel Ru (B’07) Co-Founder and Co-CEO, Sweetgreen William C. Sonneborn (B’92) Senior Director at International Finance Corporation

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EVENTS

ROCKET PITCH Held in both the fall and spring semesters, Rocket Pitch is our competition for idea-stage ventures. Undergraduate and graduate students pitch their ideas for up to $3,500 in total prize money, which can provide new startups the boost they need to acquire customers, build an MVP, and create the enterprise. Even in a virtual environment, we had nearly 80 students come out to pitch between the two events, a number on par with years past. Furthermore, we were proud to debut the $1,000 Eisenberg Prize for First-Generation Student Entrepreneurs.

WINNING PITCHES FALL ROCKET PITCH:

Across both semesters, 8 out of 10 identified as either a member of a minority community and/or as female.

FA L L

SPRING

PARTICIPANTS



17 Undergraduate  21 Graduate

PARTICIPANTS



17 Undergraduate  19 Graduate

$7,000 Total prize money awarded ($3,500 Fall / $3,500 Spring)

4 | Georgetown Entrepreneurship Annual Report 2020–2021

First Place: Team Magis, Nick Genovese (G’21) A storytelling service and digital content platform for student athletes Second Place: Kits 4 Kids, Mackenzie Loy (MBA’22), Ryan Lee (MBA’22) A monthly subscription box of children’s toys and activities People’s Choice Award: Lazzos, Carlos Herrerias (MBA’21) A fintech company that provides microloans to low-income women in Mexico Eisenberg Prize: >Seven, Evelyn de la Vega (SCS’21) E-commerce platform that helps consumers shop for sustainable fashion products

SPRING ROCKET PITCH: First Place: Kitchen with a Mission, Jordan Foley (L’21) A food truck that trains and places veterans into careers in the culinary arts Second Place: RxGuardian, Ted Cho (MD/MBA’22) A cloud-based medication record that’s linked to a patient’s wristband People’s Choice Award: Convenient Compost, Gracey Owen (B’22) A revolutionary new reusable compost freezer bag Eisenberg Prize: Whizard, Sadichchha Adhikari (MBA’21) A review service for professional documents

BARK TANK The Bark Tank Leonsis Family Entrepreneurship Prize is Georgetown University’s premier pitch event of the year, highlighting eight of the most promising ventures from both undergraduate and graduate students across the university. Eligible startups must pass through a preliminary nomination and screening process before participating in Bark Tank. All ventures receive their share of the $100,000 prize in cash (generously donated by the Leonsis family) to help them scale. This year was remarkable as we had not one, but three first prize winners. To sweeten the deal the Leonsis family generously gifted $50,000 extra prize dollars for our teams.

FINALISTS

WINNING PITCHES

Out of the 8 winners, 7 winners identify as being from a minority community and/or as female.

$155,000 Total prize money awarded

First Place + People’s Choice Award: KnoNap, Danya Sherman (MBA’21) A cocktail napkin that detects specific “date rape drug” presence upon saturation First Place: Button Helper, Robert Bolen (B’20) Allows users with differing abilities to dress themselves with dignity and independence First Place: Project Olas, Rebecca Cox (SFS’23) Matches American Spanish learners with Guatemalan women for dignified work Second Place: Parrotfish LLC, Katie Pearson Fucci (SCS’20) A subscription of refillable plastic-free, pal-free, personal care products

FINALISTS: Bark Tank experience was excellent. I learned so “ My much more about pitching and running a business, and the support was incredible... When I received the Bark Tank funding, I was able to complete [my production] payments, add another product, register the business, and many other things that have helped Flolango to become a success since its release... I am grateful to both Pivot and Bark Tank for believing in my dream and supporting the start of something extremely great.” — Izuo-Ere “Mimi” Digifa (Pivot’20), founder, Flolango

Flolango, Izuo-Ere “Mimi” Digifa (Pivot’20) An eye makeup company focused on female empowerment through poetry Kits to Heart, Sonia Su (G’20) Provides personalized care packages for cancer patients The Bar, Betel Teka (B’20) A teff-based supplemental health snack with a social mission COVID Can I Do It?, Gayatri Sanku (G’22) An online service that allows users to make decisions informed by public health

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GEORGETOWN ENTREPRENEURSHIP CHALLENGE

PARTICIPANTS 

49 Undergraduate  32 Graduate

GEC is Georgetown Entrepreneurship’s biggest pitch competition tournament of the year. It is our signature end-of-the-year event with nearly 10 preliminary rounds and roughly 100 teams participating. At the April finals, teams received over $36,000 in cash ($20,000 were awarded in in-kind prizes) to build out their businesses. While we certainly missed having all our teams in person and pitching live, the pre-recorded pitches made for an entertaining livestreamed experience for the Georgetown community and helped us reach distance-learning students, alumni, and those outside of the DMV we have never been able to before. G R A D U AT E

U N D E R G R A D U AT E

Out of 12 winners, 9 winners identify as a member of a minority community and/or as female

12 WINNERS

9 McDonough School of Business  1 School of Continuing Studies  1 Law Center  1 School of Medicine 

Out of the 8 winners, 7 winners identify as being from a minority community and/or as female

WINNERS

5 Georgetown College 2 McDonough School of Business  1 Walsh School of Foreign Service  

$18,500

$17,500

Total prize money awarded

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WINNING PITCHES GRADUATE STUDENTS: Cradl, Natalie Poston (MBA’21), Allison Cavasino (MBA’22) A short- and medium-term baby gear rental company MM-Seas, Nathaniel Gilman (SCS’21) The first software that automates the manual task of obtaining, tracking, and renewing U.S. Coast Guard credentials Budeli, Carlos Bello (MBA’22), Jinsung Bach (MBA’22), Michael Pollinger (MBA’22) A property tech Saas solution that allows property managers to provide free delivery of food to their tenants Homemade in DC, Mackenzie Loy (MBA’22), Chidozie Obidegwu (MBA’22), Lauren Jordan (MBA’22), Michael Schapiro (MBA’22) A local wholesale marketplace that connects local businesses to entrepreneurs

“ I liked the real-life applications of the

competition; at the time, I was working within a startup and I now work in an advisory capacity to startups. Generally speaking, the experience was immersive and a good simulation of real-life pitches… The feedback from the judges also was great for learning.” —Maya Silardi (C’21), MergedMed

Kitchen with a Mission, Jordan Foley (L’21) A food truck that trains and places veterans into careers in the culinary arts Neurazio Biotechnology, Daniel Chapman (M’25) A brain-computer interface that can synthesize speech

UNDERGRADUATE STUDENTS: Convenient Compost, Gracey Owen (B’22) A revolutionary new reusable compost freezer bag ACTWorldly, Betsy Ratliffe (F’23), Nora Bolster (C’23) An online platform that allows people to take action on the social causes they care about while building a community Refillanthropy, Brandon Lee (C’24) Provides shampoo/conditioner refill stations to cut out wasteful single-use containers in haircare Charting History, Kai Isaia (C’22) A browser extension that transforms the way we study and take notes MergedMed, Pia Bhatia (C’21), Maya SIlardi (C’21) A platform for secure health data transfers between patients, caregivers, and insurance College Deposit Insurance, Blake Gattuso (B’24) Ensures students will not be burdened by two enrollment deposits as a result of being waitlisted

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COVID-19 DESIGN CHALLENGE To kick off the virtual school year, Georgetown Entrepreneurship launched the COVID-19 Design Challenge to provide students from all undergraduate and graduate schools the chance to work on issues that were exacerbated due to the pandemic. Students discussed challenges such as the future of work, distance learning, and impacts on vulnerable communities and developed market-based solutions to address them. This was the first hackathon-type event that Georgetown Entrepreneurship has independently held, and it was Georgetown’s first-ever virtual ideathon. Our program relished the chance to foster collaboration among our remote student body and to give them a sense of agency over their situation.

PARTICIPANTS

25 McDonough School of Business 13 Graduate School of Arts & Sciences  13 Walsh School of Foreign Service  12 School of Continuing Studies  5 Georgetown College  5 School of Medicine  4 Law Center  2 McCourt School of Public Policy  1 Nursing and Health Sciences

Out of 11 winners, all 11 identify as a member of a minority community and/or as female



$5,000 Total prize money awarded

INNOVATIVE BUSINESS IDEAS • All Aboard to Health, Alliyah Harold (C’20), Ben Roberts (G’21), Laura Wake-Ramos (SCS’22), Emily Owen (G’21) Using idle school buses and drivers to deliver healthy meals to kids experiencing school at home due to COVID • KITS 4 Kids, Samuel Winer (MBA’22), Mackenzie Loy (MBA’22), Ryan Lee (MBA’22), Bridget Greaney (MBA’22) Social enterprise to give kids book deliveries through a buy-one-give-one model • Nana’s Table, Juliane Martin (L’21), Jessica Feng (N’22), Evan Tewelde (C’21) Helping to prepare home-cooked meals for the elderly in the time of COVID

PAUL AND CAROL HILL SPEAKER SERIES Thanks to the Hill family, Georgetown Entrepreneurship annually hosts the Distinguished Speaker Series, through which world-class leaders and experts share their insights with the Georgetown community. This year, we had the pleasure of remotely hosting Ben Weiss, the founder of Bai Brands, to speak on his entrepreneurial journey and his new book. Past speakers include: • Doug Bouton (C’07), co-founder of Halo-Top • Sir Richard Branson, founder of the Virgin Group • Carlos Ghosn, chairman and CEO of Nissan-Renault Alliance • Sallie Krawcheck, CEO and co-founder of Ellevest 8 | Georgetown Entrepreneurship Annual Report 2020–2021

VIRTUAL PARTICIPANTS FOR BEN WEISS

• Jonathan Neman (B’07), Nicolas Jammet (B’07), and Nathaniel Ru (B’07), founders of Sweetgreen • Ben Weiss, founder of Bai Brands • Muhammad Yunus, 2006 Nobel Peace Prize winner

MENTORSHIP

ENTREPRENEURS IN RESIDENCE AND EXPERTS ON CALL

Entrepreneurs in Residence (EiRs) and our network of Experts on Call (EoCs) are experienced professionals who are able to connect Georgetown undergraduate and graduate students, as well as alumni, to the real world of entrepreneurship. Students meet with EiRs to discuss the trajectories of their own ventures and student organizations, seek mentorship opportunities, and explore their entrepreneurial goals. EiRs come from a variety of backgrounds, from social impact startups to venture financing, and from nearly every industry sector. The virtual environment made it easier for our EIRs to connect with our community, with more than 600 hours spent with hundreds of students and alumni.

EIRS

In addition, we have 28 EoCs through the Georgetown Entrepreneurship Alliance, our alumni affinity group for entrepreneurship. These industry-specific specialists are available to advise our students and alumni on an appointment basis, and they met with nearly 150 students and over 250 alumni last academic year.

a cliche but it’s true: I get as much or more from “ It’s contributing as they do from receiving.”

51 Private Mentorship 2 120 Attending/Speaking  119 Working on an Georgetown Entrepreneurship Project  43 Other  37 Chalk Talks  25 Office Hours  16 Working with Student Organizations 

610 HOURS WITH STUDENTS

—Peter Mellen (C’89, MBA’98), founder, Netcito



CHALK TALKS Chalk Talks, which are held in person or over Zoom every Tuesday evening, are drop-in mentorship hours for Georgetown students, alumni, faculty, and staff. Any Hoya can speak with our Entrepreneurs in Residence about their business ideas, career paths, and other topics. Students interested in startup advising make up the majority of students who attend Chalk Talks. This year, we were able to start special monthly Chalk Talk for our Doha campus students, extending the reach of our mentorship program across continents.

COMMON ACTIVITIES DURING CHALK TALKS • Startup advising • Sharing big ideas • Career advising

EIRS IN ATTENDANCE

36 CHALK TALKS

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CAREER

GEORGETOWN STARTUP INTERNS Georgetown Startup Interns (GSI) is our program’s premier internship experience for undergraduate students. Born out of a desire to offer an alternative to consulting and finance recruitment cycles, GSI helps startups and high-growth companies find talented undergraduate Hoyas from all majors and class years. The program features three components to create a holistic learning experience: a part-time paid internship, online skills workshops, and leadership coaching. Now in its third semester, the program has helped dozens of companies connect with over 30 students. GSI has a strong potential for growth and is a signature program that will be critical for future success.

STUDENT INTERNS

COMPANIES

skills workshops were incredibly helpful. Prior to “ The UrbanStems, I never had a real, formal internship, so learning how to network and conduct informational interviews was nice to know and gave me the confidence I needed. GSI was one of the best experiences I’ve had at Georgetown.” — Yukta Gutta (C’23)

13 Spring 2021 18 Summer 2021

 

12 Spring 2021 14 Summer 2021

 

is a very good model and it creates a great “ This summer internship program. I loved the company I interned for and was pleased when they offered me a part-time job with them during th fall, allowing me to continue with them. I would definitely recommend it to a friend.” — Lisbeth Medina (B’21)

conduct research and risk analysis on COVID“ I19gotandto public transportation on a city-by-city basis. GSI gave me the skills I needed to be successful at my internship.” — Brendan Tong (B’21)

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VENTURE FELLOWS The Georgetown Venture Fellows program is a year-long apprenticeship in venture capital or private equity firms. Although this program began for MBA students, it has recently expanded to include undergraduate Georgetown students. Students have a full-time summer experience bookended by part-time work during the spring and fall semesters, offering a rare opportunity to gain behind-the-scenes experience in VC/PE. Firms also benefit from the contributions of talented Georgetown students. A study by Different Funds revealed that Georgetown University ranks second for graduating women who lead venture capital firms. MBAS

2021

2020

2019

2018

2017

2016

2015

# Firms

# Applications

176

114

118

147

# MBA Fellows

2021

2020

UNDERGRADUATES # Firms # Applications # Undergraduate Fellows

[

183

205

2021 was the 7th Venture Fellows Cohort

]

Fellows opened up a door to venture “ Venture capital that is generally reserved only for the likes of Stanford and Harvard graduates. Not only does it open that door, but it also provides access to the impressive and growing Georgetown venture fellow and entrepreneurship community, a community that is eager and willing to help each other. It also enabled me to learn and gain invaluable skills and insights.” —Isaac Carp (MBA’22), Squadra Ventures

STARTUP CAREER FAIR In 2021, Georgetown Entrepreneurship hosted its fourth annual Startup Career Fair to help Hoyas connect with high-growth startups in D.C. Our Startup Career Fair strives to bring Hoyas and startups together and help our students consider career paths outside the typical finance, consulting, and government routes. This year the event was held virtually, but it was the largest event in terms of both company and student attendance.

190 STUDENT PARTICIPANTS

COMPANIES

« including BJ’s Cookies, Deep Labs, Oxiwear, and Poppy Flowers (up from 19 in 2020 and 14 in 2019)

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ACADEMICS

ENTREPRENEURSHIP MINOR

66 STUDENTS ENROLLED



22 Graduates in 2021

After receiving student feedback indicating that nearly 60% of undergraduates are interested in pursuing studies in entrepreneurship, Georgetown McDonough created the Entrepreneurship Minor for business students. The minor comprises 12 credits (four courses), all of which help develop skills such as critical reasoning and decision-making. Students also are encouraged to participate in Georgetown Entrepreneurship’s activities.

REQUIREMENTS • MGMT 220: Foundations of Entrepreneurship • MGMT 224: Launching Entrepreneurial Ventures • MGMT 229: Managing Entrepreneurial Ventures • Choice of an Entrepreneurship Elective

ENTREPRENEURSHIP FELLOWS

23 STUDENTS ENROLLED

The Entrepreneurship Fellows program was created for non-McDonough undergraduate students interested in pursuing entrepreneurship in an academic setting. Open to students in the College, School of Foreign Service, and Nursing and Health Sciences, students gain equal access to McDonough entrepreneurship courses and develop an entrepreneurial mindset.

REQUIREMENTS 13 Georgetown College  8 Walsh School of Foreign Service  2 School of Nursing and Health Sciences 

• ACCT 101: Introduction to Financial Accounting, or a course in computer science/coding or financial management may be accepted as a substitute • MGMT 220: Foundations of Entrepreneurship • MGMT 224: Launching Entrepreneurial Ventures • MGMT 229: Managing Entrepreneurial Ventures • Compete in the Georgetown Entrepreneurship Challenge Pitch Competition or another agreed upon competition

ELECTIVES • ECON 416: Market Design • FINC 265: Private Equity • GBUS 491: C-Lab Startup Studio • GBUS 492: Law, Business, and Entrepreneurship • MARK 239: Practicum in Developing New Products • MGMT 277: Imagination and Creativity • OPIM 256: Digital Technologies & Analytics • SOCI 168: Social Entrepreneurship • STIA 305: Science Technology in the Global Arena • STRT 295: Implementing the Entrepreneurial Plan

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I M PA C T

PIVOT PROGRAM The Georgetown University Pivot Program is a custom certificate in business and entrepreneurship, designed specifically for individuals returning to the community from incarceration. The program’s goal is to allow these individuals to access career and professional opportunities that would otherwise be out of reach, while also changing the perception of individuals with a prior conviction. Housed within the McDonough Custom Executive Education team and supported by Georgetown Entrepreneurship and the Prisons and Justice Initiative, the program combines classroom training in business, entrepreneurship, and leadership with subsidized internships at local businesses and nonprofits. Throughout the program, Pivot Fellows receive a weekly stipend, funded by a grant from the D.C. Department of Employment Services. The entrepreneurial mindset is deeply embedded within the Pivot curriculum. Whether or not a fellow is ready to pursue a venture opportunity of their own, each Pivot Fellow goes through the process of identifying a problem or opportunity, understanding how to create value for a user or stakeholder, and identifying a potential business model. Those with the most advanced ideas are eligible to present at the Pivot Pitch Competition, a highlight of the program year. Ultimately we see Pivot Program graduates as agents of change within the community, fulfilling their personal career ambitions and creating opportunities for others through business enterprises of their own.

employment partners Employers who have embraced our mission and have supported Pivot graduates include the Charles County Department of Health, Deloitte, Dick’s Sporting Goods, Farmers Restaurant Group, the Justice Policy Initiative, LINK Strategic Partners, the Vera Institute of Justice, as well as many other businesses and nonprofits.

GRADUATES FROM COHORTS 1, 2, 3

100

of graduates said the program helped them advance their career goals

of graduates would be “very likely” to recommend the Pivot Program to others

of the most recent cohort graduated with offers of permanent employment

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VENTURE LAB

FORWARD VISION — RELOCATED VENTURE LAB Georgetown Venture Lab is a dedicated workspace for full-time alumni entrepreneurs to launch and grow their businesses with support from the Georgetown Entrepreneurship network. Newly relocated at a WeWork facility near the Georgetown Law Center on 200 Massachusetts Avenue NW, the Venture Lab offers alumni entrepreneurs the unique opportunity to grow their business alongside fellow peers, gain one-on-one entrepreneurship coaching, and participate in private pitch events with the Georgetown Angel Investment Network (GAIN). to the Venture Lab network, Georgetown EiRs, “ Access and lab resources have been pivotal in our company’s growth and a material catalyst in getting the company scaled to the next level. We’ve gained perspective, connections, business strategy, practiced the business description to external parties, and mentored GU students. It’s overall been a valuable experience.” —Tara Swersi (G’06), CEO, STRIDER

COMPANIES

Since October 2018, approximately 60 companies have at one point housed themselves in the Venture Lab.

The Georgetown Venture Lab is supported by Ted Leonsis (C’77, P’14, P’15), a longtime entrepreneur and investor who is the founder, majority owner, chairman, and CEO of Monumental Sports & Entertainment; his wife, Lynn; his son, Zach (MBA’15), senior vice president of strategic initiatives of Monumental Sports & Entertainment and general manager of Monumental Sports Network; and his daughter, Elle (C’14), digital marketing director of SnagFilms, Inc.

14 | Georgetown Entrepreneurship Annual Report 2020–2021

GEORGETOWN STARTUP ACCELERATOR Georgetown Startup Accelerator (GSA) is a virtual nine-week program that brings together Georgetown alumni entrepreneurs in early-stage startups with experienced mentors, peers, and experts to accelerate their business progress. Participating members and companies: 1) work with experienced mentors; 2) set growth metrics; 3) attend weekly workshops; 4) learn alongside alumni peer entrepreneurs; and 5) showcase the company to the Georgetown community. GSA allowed my co-founder and I to stress-test our “ The business model, refining our thesis and growing from

200

an idea to a company with clients during the span of the program. Meeting other founders and working with the GSA team proved invaluable to our growth.”

DEMO DAY ATTENDEES

— Mel Levey (MBA’17), co-founder, Joint Homes

Around 200 people attend from the Georgetown community, such as friends, family, students, investors, and partners of GSA.

only did my co-founder and I gain valuable and “ Not actionable insights from the workshops and programming, but the GSA also did an excellent job of pairing us with our mentor, an industry expert who opened doors and made an immediate impact on our strategy.” — Russell Bar (MBA’20), CEO, Hi-RX

EXAMPLES OF WEEKLY ACTIVITIES / WORKSHOPS Each weekly workshop is hosted by an expert from the Georgetown network of mentors, alumni, and faculty. Programming focuses on critical areas to building a business, such as:

“

My business will absolutely grow directly as a result of the connections the GSA made for me. I have gained advisors I would never have had access to otherwise, we likely will land a big-chain retailer, and I likely secured investment for my business.”

• Baselining and goal setting • Product-market fit and customer feedback • Leading and building successful teams • Sales and generating demand • The business of running a business • Fundraising and investing

— Victoria Pratt (SFS’11), founder, Pratt Standard

2020-2021 Georgetown Entrepreneurship Annual Report

Articles inside

Summer Launch Incubator

Georgetown Ventures

Georgetown Startup Interns

Pivot Program

Forward Vision — Relocated Venture Lab

Georgetown Entrepreneurship Challenge

Letter from Jeff Reid

Rocket Pitch

Georgetown Startup Accelerator