IOWA ENTREPRENEURSHIP
20 YEARS OF INNOVATION AT THE UNIVERSITY OF IOWA ANNUAL REPORT FISCAL YEAR 2016
“IOWA ENTREPRENEURIAL I want to make the most
“
state in America.
-JOHN PAPPAJOHN
EXPLORE THIS ISSUE
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A NOTE FROM THE EXECUTIVE DIRECTOR David Hensley
4 ANNUAL REPORT 7 CELEBRATING 20 YEARS OF INNOVATION 11 STUDENT INNOVATORS
Bringing Home The Bacon SwineTech, Matthew Rooda, Abraham Espinoza
13 ENTREPRENEURS IN ACTION
Creating “A-Ha” Moments GotIt!, Hung Tran
15 ALUMNI SPOTLIGHT
Redefining The Family Business Patricia Miller, MATRIX 4
17 BUSINESS CONSULTING & INTERNSHIPS
Partnerships Creating Profits Aaron Warner, Kyle Den Hartog
19 VENTURE SCHOOL ALUMNI
Recipe For A Startup | E’s Gluten Free
20 JACOBSON INSTITUTE FOR YOUTH ENTREPRENEURSHIP
Youth Program Comes Full Circle Rachael Eisenreich
21 GLOBAL OUTREACH
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From Africa To Iowa Mandela Washington Fellow, Dave Okech
ANNOUNCEMENTS
Iowa JPEC | FY 2016
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A NOTE FROM THE EXECUTIVE DIRECTOR
LAUNCHING IDEA MAKERS David K. Hensley Executive Director, John Pappajohn Entrepreneurial Center Clinical Professor, Management & Organizations, Tippie College of Business
Dear Friends, It is with great pride that we celebrate the 20th anniversary of the John Pappajohn Entrepreneurial Center at the University of Iowa. Iowa JPEC believes an entrepreneurial center must be comprehensive in nature to build and grow a successful entrepreneurial ecosystem — across campus, the state of Iowa, and the world. On UI’s campus, we have been a leading innovator in providing campus-wide academic programs, including two cross-disciplinary majors and three certificates. We support the launching of new student ventures and have seen our student-led businesses excel exponentially this year. A highlight from the year included an Iowa JPEC student business placing first out of over 5,000 applicants from around the world at the International Business Model Competition. We also provide advanced training to faculty innovators to support the commercialization of their discoveries through a partnership with the Office of the Vice President for Research and Economic Development. Beyond our campus, our statewide Venture School program continues to assist Iowa entrepreneurs and corporate innovators as they build and grow successful companies. The Jacobson Institute for Youth Entrepreneurship is helping to transform high school STEM education across the country. Please make special note of our tribute to Dick Jacobson, who generously helped establish the Jacobson Institute for Youth Entrepreneurship, on page 8. We are grateful for his support and we will miss his friendship.
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Iowa JPEC | FY 2016
Iowa JPEC graduates have launched and built successful companies in a variety of industries, including medical devices, advanced manufacturing, software applications, educational and information technology, retail, and professional services. Other alumni apply their entrepreneurial leadership skills in corporate and non-profit organizations, serving as officers, executive directors, partners, managers, business analysts, and management consultants. Innovative Hawkeyes are making a difference all over the world, and we are proud of them. We have also continued to expand our global reach, with the Institute for International Business hosting 25 outstanding young African leaders as part of the Mandela Washington Fellowship program this summer. Our success cannot happen without active participation and support from entrepreneurs, business leaders, alumni, and friends. We need you to join our team and help inspire, educate, and support the next generation of successful entrepreneurs and leaders. Please contact me to get involved at david-hensley@uiowa.edu or call 319-335-1022. Sincerely,
ANNUAL REPORT
ACADEMIC IMPACT
FY 2016 | ACROSS CAMPUS AT THE UNIVERSITY OF IOWA IN THE CLASSROOM
REAL-WORLD EXPERIENCES
THE FOUNDERS CLUB
4,054 STUDENTS ENROLLED 3,896 158 UNDERGRAD STUDENTS
GRADUATE STUDENTS
3,300 350 ALUMNI
NEW ALUMNI IN FY 2016
TO DATE
STUDENT ENTREPRENEURS
255 BUSINESS STUDENTS WORKED FOR LOCAL IOWA BUSINESSES & STARTUPS THROUGH OUR INTERNSHIP AND BUSINESS CONSULTING PROGRAMS
16,463
MENTORED
68 STUDENT
BUSINESSES
STUDENT BREAKDOWN
PROGRAM, SEMINAR, & WORKSHOP STUDENT PARTICIPANTS
1
IOWA JPEC STUDENTS REPRESENT
REAL-WORLD EXPERIENCE LEADS TO REAL SKILLS:
FOUNDERS CLUB BUSINESS AWARDED
97
DIFFERENT MAJORS, DEGREES, AND CERTIFICATES FROM
>
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COLLEGES ACOSS CAMPUS
LEADERSHIP GLOBAL PERSPECTIVE CRITICAL THINKING COMMUNICATION SKILLS WORKING IN A TEAM PROBLEM SOLVING NETWORKING
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ENTREPRENEURIAL STUDENT CLUBS
FIRST PLACE AT THE INTERNATIONAL BUSINESS MODEL COMPETITION OUT OF OVER 5,000 APPLICANTS
$104K+ IN SEED FUNDING
WITH 228 STUDENT PARTICIPANTS
Iowa JPEC | FY 2016
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ANNUAL REPORT
OUTREACH IMPACT
FY 2016 | STATEWIDE, NATIONAL, & GLOBAL ECONOMIC DEVELOPMENT
YOUTH PROGRAMS
269
20,718
STARTUPS SERVED
> 333
YOUTH IMPACTED
77,844
YOUTH IMPACTED SINCE 1996
EST. JOBS CREATED
> > 9,356
HOURS DEDICATED TO CLIENTS
5
Iowa JPEC | FY 2016
INCLUDES VENTURE SCHOOL, FACULTY INNOVATORS, & STUDENT ACCELERATOR PROGRAMS
TEACHING
101 TEAMS
308
PARTICIPANTS -AT-
7 LOCATIONS
1,017
CLIENTS ASSISTED
VENTURE SCHOOL PROGRAMS
22 STATES
CEDAR FALLS CEDAR RAPIDS COUNCIL BLUFFS DAVENPORT DES MOINES IOWA CITY SIOUX CITY
(SHOWN IN BLUE) TEACHING OUR
BIZINNOVATOR CURRICULUM AT HIGH SCHOOLS
STUDENT BIZINNOVATOR PATH: 1. TAKE BIZINNOVATOR HIGH SCHOOL CLASS 2. EARN UI CREDIT 3. ENROLL AT UI 4. RECONNECT WITH IOWA JPEC IN COLLEGE
$300,000 GRANT AWARDED BY THE NATIONAL SCIENCE FOUNDATION (I-CORPS PROGRAM) TO TRAIN 90 TEAMS
OVER
23,000 TOTAL INDIVIDUALS IMPACTED ACROSS ACADEMIC AND OUTREACH PROGRAMS IN FY 2016
Iowa JPEC | FY 2016
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CELEBRATING 20 YEARS OF INNOVATION “I want to make Iowa the most entrepreneurial state in America.”
Those were the words spoken by John Pappajohn twenty years ago when he, together with his wife, Mary, began the journey of doing just that.
In 1996, the Pappajohns gifted $1.5 million to expand the existing Institute for Entrepreneurial Management at the University of Iowa. Housed in the Tippie College of Business, the John Pappajohn Entrepreneurial Center (Iowa JPEC) was established. The Pappajohn’s generosity did not stop there. In the same year, their financial support helped establish four additional entrepreneurial centers at other universities across the state. The Pappajohns have gifted over $100 million to various philanthropic causes, including the University of Iowa to support the John Pappajohn Business Building, the Pappajohn Pavillion, the John and Mary Pappajohn Cancer Center, and the John and Mary Pappajohn Biomedical Discovery Building. In addition to financial support, the Pappajohns have also devoted countless hours to creating opportunities for UI students, hosting competitions for new ventures, and many additional entrepreneurial efforts. KEY LEADERS Gary Fethke served as the Dean of the Tippie College of Business in 1996 when Iowa JPEC was starting to establish its entrepreneurial roots. Reflecting on the past two decades,
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Iowa JPEC | FY 2016
Fethke recalled that it took a lot of work to get to where the center is today, saying, “It wasn’t always easy fitting our programs into different departments across campus, but through the will of the (past and present) directors, we now have innovative programs accessible to all departments across campus.” John Buchanan was one of the first entrepreneurial faculty members at the University of Iowa. Heavily involved in the creation of the center, Buchanan considers the success of Iowa JPEC a result of “phenomenal dedication.” “The thought of starting and building one’s own business was not prevalent in business schools back in the 80’s and early 90’s,” stated Buchanan. “Starting with a couple of entrepreneurship courses in the business school and growing today to be a campus-wide academic program, teaching K-12 students and teachers about entrepreneurship, and working in the community to build and grow Iowa’s entrepreneurial ecosystem is something to be proud of. Thanks to John and Mary Pappajohn, the American entrepreneurial lemonade stand is alive and thriving on campus, across the state and globe.” In addition to the Pappajohns, there are several other key supporters who have helped make the center what it is today. In 2004, an endowment received from Tom Bedell was used to create the Bedell Entrepreneurship Learning Laboratory. This 10,000 square foot business incubator for students was one of the nation’s largest and most comprehensive of its time. In 2007, Richard O. Jacobson’s generous gift allowed
UI to create the Jacobson Institute for Youth Entrepreneurship. This program has impacted over 77,000 K-12 youth to date. It is with sadness that we report the passing of Richard O. Jacobson this past year. Through the leadership of these individuals, Iowa JPEC has grown to become one of the nation’s most comprehensive, campus-wide entrepreneurship undergraduate programs. The center has not only expanded its reach across the University of Iowa campus - but across the state of Iowa, the country, and the world. ACADEMIC EXCELLENCE Iowa JPEC had a record 4,054 students enrolled this past academic year. With a variety of entrepreneurial course work and experiential learning opportunities, there are endless innovative avenues for every student on campus, regardless of their field of study. Iowa Startup Games is one example of this. Open to any student on campus, the games teach participants to team up, pitch business ideas, and learn to bring their ideas to life in a weekend. In 2017, these games will be launching at three additional schools across the state of Iowa. STATEWIDE SUPPORT Many support programs that were once available for local Iowa City companies have since launched statewide. These programs are promoting innovation across the state of Iowa. This fall, the expansion will continue with the Venture School program launching an online cohort that is available to anyone in the state wanting to learn how to accelerate the startup process, regardless of their location. Many other training and support programs are helping to strengthen the Iowa economy, including the many resources available through the Small Business Development Center. BEYOND THE IOWA BORDERS In the past few years, Iowa JPEC has substantially grown its national and global outreach, making a name for the center well beyond Iowa’s borders. The STEM Innovator program, taught through the Jacobson Institute for Youth Entrepreneurship, is now being taught in 22 different states across the country. In addition, many students have traveled abroad on faculty-led trips, helping local businesses become more sustainable. This year also marked the first time UI was awarded a grant from the U.S. State Department to host a group of 25 Mandela Washington Fellows. President Obama’s Young African Leaders Initiative (YALI) brought African leaders from 18 different countries to Iowa City for a six week program put together by Iowa JPEC.
remembering Richard O. Jacobson Richard O. “Dick” Jacobson will forever be remembered as an Iowa business icon who relished in his philanthropic efforts around the country. Richard passed away Friday, April 1, 2016. Founder and chairman of the board of the Jacobson Companies, Jacobson was known for being philanthropic. Over the years, Jacobson has donated to many causes, including several multi-million-dollar gifts to a wide variety of organizations. He also inspired other wealthy Iowans to follow his example. Jacobson was loyal to youth entrepreneurship and in 2004 sponsored the youth Jacobson entrepreneurship camp in Des Moines. In 2007, Jacobson’s generous gift allowed the University of Iowa to create the Jacobson Institute for Youth Entrepreneurship. Since 2007, the Jacobson Institute has worked collectively with Iowa JPEC to inspire the entrepreneurial spirit in Iowa and across the country. Without Jacobson, the establishment of these K-12 programs would not have been possible. “He was always a very humble and extremely polite person. He definitely wasn’t somebody who needed or even wanted the limelight,” said Dawn Bowlus, Director of the Jacobson Institute for Youth Entrepreneurship. “He will be missed.”
LOOKING FORWARD On the following pages you will find memorable moments from the past 20 years. As we get ready to begin another academic year, we look forward to seeing John and Mary’s vision be carried out more than ever before.
Iowa JPEC | FY 2016
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Iowa JPEC | FY 2016
MEMORABLE MOMENTS FROM THE PAST 20 YEARS
1996 Iowa JPEC was created through the generosity of John
2010 The Department of Management and Organizations
and Mary Pappajohn. During this year they established five John Pappajohn Entrepreneurial Centers at colleges across the state of Iowa.
and Iowa JPEC partnered to create the B.B.A. in Management with an Entrepreneurial Management Track. This major also became available online in 2011.
The regional Small Business Development Center was integrated into Iowa JPEC.
The Entrepreneurial Management Institute was established to formalize the experiential business consulting program, matching students with real-world projects.
1997 The Technological Entrepreneurship Certificate program was created in partnership with the College of Engineering. It was the first of its kind at any U.S. institution. Iowa JPEC began to offer Kauffman Foundation’s FastTrac entrepreneurship training programs in partnership with Iowa community colleges.
2000 The cross-campus Certificate in Entrepreneurial Management was created for any undergraduate student on campus to earn in conjunction with their major, regardless of their area of study. 2002 The Arts Entrepreneurship Certificate was created in partnership with the Division of Performing Arts. 2004 An endowment received from Tom Bedell created the Bedell Entrepreneurship Learning Laboratory, a 10,000 square foot business incubator for students - and home to the Founders Club. This was one of the nation’s largest and most comprehensive to date. Iowa JPEC was named the National Model Undergraduate Entrepreneurship Program by the United States Association of Small Business and Entrepreneurship (2004).
2006 Launch of the annual week-long, immersive Okoboji Entrepreneurial Institute summer workshop in partnership with other state of Iowa universities and colleges, as well as Iowa Lakes Corridor Development.
2013 The Venture School program was launched, teaching Iowa community businesses how to accelerate the startup process. This program is based on the National Science Foundation (I-Corps Program) and is run in partnership with several Iowa community colleges.
2014 The B.A. in Enterprise Leadership was created in partnership with the College of Liberal Arts and Sciences. The major combines advanced coursework in entrepreneurship, leadership, and professional communications. The Iowa Innovation Associates Internship Program was established, placing students with small-to medium-sized organizations in the state. The first Iowa Startup Games was held, encouraging students of all areas of study to team up and learn how to launch a business in a weekend. The Institute for International Business became an Iowa JPEC program, advancing knowledge and international skills through both education and consulting.
2015 The first group of Iowa JPEC students studied abroad in India on a faculty-led experience. Iowa JPEC was named a National Science Foundation I-Corps Site and awarded a $300,000 grant.
2016 Iowa JPEC students studied abroad in Belize during spring break on a faculty-led program.
2007 A gift from Richard O. Jacobson was received to create and endow the Jacobson Institute for Youth Entrepreneurship to focus on K-12 initiatives. 2009 The Iowa Medical Innovation Group was created to give students real-world interdisciplinary experience in medical device development.
SwineTech, a student business supported by the Founders Club, won first place out of thousands of applicants from around the world at the International Business Model Competition. The Institute for International Business hosted 25 Mandela Washington Fellows - a part of President Obama’s Young African Leaders Initiative (YALI).
Iowa JPEC | FY 2016
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S T U D E N T I N N O V AT O R S Fo u n d e r s C l u b P a r t i c i p a n t s
BRINGING HOME THE BACON Matthew Rooda (Enterprise Leadership, 2017) and Abraham Espinoza (Computer Science, 2017) have made their mark across the country as student entrepreneurs. SwineTech, winner of the 2016 International Business Model Competition, is working to help improve the pork industry by saving piglets.
The idea for SwineTech came to Matthew Rooda in 2015 when he was working at Schneider Pork Farms located in Waterloo, Iowa. When he realized the daily impact piglet deaths had on the pork industry, it was easy to see that something needed to be done. SwineTech is an Ag-Tech company that uses technology to reduce pre-wean mortality and improve herd health on sow farms. This farrowing monitoring system encourages sows to stand up, preventing the piglets from being accidentally crushed underneath their mother.
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creation of a startup by providing them with valuable resources. SwineTech soon added John Rourke (CTO) to the team. A veteran of manufacturing, engineering, and product design industries, Rourke founded his first company during his time as an engineering student at the University of Iowa.
Why is this so important? The device aims to save millions of piglets’ lives annually, while also solving an industry problem that costs pork producers billions each year.
The team spent last summer in the Venture School Student Accelerator program, where they learned how to accelerate the startup process, which significantly increased their company’s success. Focusing on customer discovery, SwineTech conducted over 200 interviews with farmers around the world in order to identify the needs of their target market.
After transferring to University of Iowa in 2015, Rooda (CEO) and his co-founder Abraham Espinoza (COO) joined the Founders Club to help launch their business. Housed in the Bedell Entrepreneurship Learning Laboratory at UI, the Founders Club supports entrepreneurial students as they pursue the
As SwineTech grew from an idea to a fully-operational business, its founders have continued to make use of the various Iowa JPEC resources available to entrepreneurs. When they found themselves in need of assistance, the Entrepreneurial Management Institute (EMI) consulting students took on the task. These students assisted in
Iowa JPEC | FY 2016
“SwineTech would not be where it is today without the Founders Club, which not only educated us on what it meant to be business owners, but also connected us to a community of entrepreneurs that we could relate to and seek advice from.” -MATTHEW ROODA, CEO OF SWINETECH & IOWA JPEC STUDENT areas including marketing, human resources, engineering, product development, and more. SwineTech also utilized student interns through the Iowa Innovation Associates (IIA) program. According to Rooda, their elite business students’ “out of the box thinking” has helped them make business decisions that have greatly improved how the company is run. The SwineTech team has spent the past year traveling the country, competing and placing in over twenty pitch competitions. Just a year after their business was founded, SwineTech has well surpassed the $100,000 level in prizes. Perhaps one of their most notable achievements was this past April at the International Business Model Competition (IBMC). SwineTech was selected to compete at the IBMC, co-hosted by Brigham Young University and Harvard University, out of 5,113 teams representing 482 schools from 29 countries. The student business was awarded first
place at the competition, and took home a cash prize of $30,000. For student entrepreneurs looking to launch their own business, Rooda shared, “Dedication and perseverance will expose true pain points and give you commercially relevant ideas. You are not an expert at running a business, so get advice from seasoned entrepreneurs and listen, because they could very well be handing you the road-map to success.” What’s next for SwineTech? As they continue to pitch their product throughout the country, the team is also currently in the process of analyzing data collected from behavioral trials. SwineTech seeks to launch their product at the World Pork Expo, to be held in Des Moines in June 2017.
Find out more about SwineTech by visiting www. swinetech.co Iowa JPEC | FY 2016
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E N T R E P R E N EU RS I N ACT I O N Alumni Spotlight
CREATING “A-HA” MOMENTS Hung Tran (Ph.D. Computer Science, 2012), the CEO and co-founder of GotIt!, is revolutionizing education around the world by combining Iowa-based entrepreneurship with West Coast innovation. It all started when Hung Tran got the idea during his time as a computer science and math tutor at the University of Iowa. He did not have enough time to teach all of the students who wanted his help. At the same time, other tutors didn’t have any students to teach. Tran saw an opportunity and began thinking about a way to connect students with tutors using technology - regardless of their physical location and availability. GotIt! was formed at the University of Iowa in 2011, and was originally named Tutor Universe. As an entrepreneur, Tran looked for resources for startups in the Iowa City area and discovered the Bedell Entrepreneurship Learning Laboratory (BELL). He says the BELL, as well as Iowa JPEC student competitions and classes, gave him the foundation and knowledge to create and run a startup. Tran and his business partner, Thomas Hornbeck, were awarded the Student Startup of the Year Award in 2012. They also won several first-place prizes in elevator pitch and business plan competitions that same year. This entrepreneurial foundation, combined with Tran and Hornbecks’ innovative spirits, helped them to launch their company. In 2013, Tran and Hornbeck moved Tutor Universe to California to participate in the Studio 9+ program offered by the YouWeb Incubator. It was there that the business pivoted, taking on a new name, going mobile, and ultimately finding its niche. GotIt! works like this: learners ask a question about a certain field of study, an expert in that field is instantly matched with that learner for a 10-minute session,
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Iowa JPEC | FY 2016
the expert teaches the learner about their field of study (no cheating, real teaching) and helps them to find an answer to their question. Can’t learn enough to answer the question in ten minutes? No problem! GotIt! makes it easy to add on extra time. The app is currently in BETA testing and is growing every day. GotIt! has facilitated over 2.5 million live chat sessions between experts and students to date. They also reached #2 in the Education category of the Apple App Store in the U.S., and currently hold a 4.4 star rating in the Google Play App Store. While the app is geared toward high school and college students searching for late-night answers in science or math, the GotIt! team plans to add experts in subject areas outside of STEM. An additional proud moment for the company, GotIt! recently raised over $9 million in Seed and Series A rounds from Silicon Valley venture capital firms. For student entrepreneurs trying to get their business off the ground, Tran says,
“You should first look for a solution to a problem that many people have, then build a product based on it. This way, at least you have a chance to build something that people really need. Many startups spend a lot of time building something cool, but no one wants it.” GotIt!’s success is proving that Tran’s advice holds true. The company is continuing to improve their services to give users the best possible experience, and is quickly overtaking the typical tutoring model that has been unchanged for so long.
Find out more about GotIt! by visiting: www.gotitapp.co Iowa JPEC | FY 2016
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A LU M N I S P OT L I G H T
REDEFINING THE FAMILY BUSINESS She carved out a career as an intrapreneur, bringing innovative ideas to both a Fortune 500 pharmaceutical company and a Biotech startups. When her grandfather’s company needed help, she chose to pivot. Now the CEO and Owner of the company, Patricia Miller (B.B.A. Marketing, 2004) is driving the next generation of American manufacturing. With the mindset she developed through Iowa JPEC’s entrepreneurship certificate – once used to launch brands for Eli Lilly – Patricia is re-imagining a future for her grandfather’s Chicago based mold-making factory. “It was running, essentially, dead,” she recalls. “Only one of the 25 machines was in operation. It used to have about 100 employees, but now there were maybe 10. I asked my grandparents what the game plan for the company was.” “I was exposed to MATRIX 4 as a little girl as the result of my family working there and dinner table conversations, but I never imagined I’d buy the business or get into manufacturing,” said Miller. In 2014, when Miller began considering MATRIX 4’s fate, she remembered her yearly goal of “wanting to be more grounded, to make an impact and be challenged in a different way, on a more local level.” In June 2014, she stopped by the factory while she was in town for a conference. Miller remembers that her grandparents weren’t interested in rebuilding the business, so she began looking into the manufacturing environment in the United States. “I looked at what is impacting manufacturing in the U.S., and whether there was a way to make this business viable,” she adds.
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“The coursework I did was the catalyst for me to create change, both from the standpoint of being an ‘intrapreneur’ in corporate America and now as a startup business in manufacturing.”
PATRICIA MILLER, CEO and Owner of MATRIX 4 Miller sensed an opportunity to build a new business model: a custom manufacturing house that takes advantage of design and technology. Now her company, MATRIX 4, creates products for companies ranging from General Electric to First Alert. Miller describes MATRIX 4 as a business that “supports customers from idea stage to out-the-door with four phases in one house including design, engineering, tooling, and manufacturing.” “I couldn’t get behind just pumping out widgets all day, but I could get behind the idea of creating a manufacturing and design hub. You’re taking ideas from the back of the napkin through product design, development, and 3D printing stages. You produce the widget on the back end, but you’re also doing a lot more interesting work around branding and concept development.” Iowa JPEC classes at the University of Iowa gave Miller the opportunity to see how real businesses were structured and running, as well as “how to be innovative and challenge the status quo while being resourceful and creative,” Miller explained. “The coursework I did was the catalyst for me
to create change, both from the standpoint of being an ‘intrapreneur’ in corporate America and now as a startup business in manufacturing. The Pappajohn Center offers a very hands-on program that sets you up for success, whether you are going to start a business or work within a business.” Miller is now a member of the Iowa JPEC Advisory Council. “The JPEC program holds a special place in my heart. I have a large affinity for the impact and meaning it has. It offers real-world experiences and education across many aspects of entrepreneurship, which makes it truly different from other academic coursework,” she stated.
Find out more about MATRIX 4 by visiting: www. matrixiv.com Iowa JPEC | FY 2016
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PARTNERSHIPS CREATING PROFITS Iowa JPEC has several programs that focus on connecting elite students with local Iowa businesses and startups. These partnerships provide real resources for the client, real-world experience for the student, and real benefits for the Iowa marketplace. It is no surprise that pairing up top business students with local Iowa companies is beneficial for all. To dive a bit deeper into its advantages , let’s take a look at the programs that matched 255 students with 77 clients in the past fiscal year. INTERNSHIP PROGRAMS Established in 2014, the Iowa Innovation Associates (IIA) program connects top undergraduate students with Iowa startups and small businesses. The student benefits from experiential learning opportunities, while the client is supported with intern help to complete applied projects. BUSINESS CONSULTING Established in 2010, the Entrepreneurial Management Institute (EMI) is a business consulting service designed to help solve business problems, educate professionals, and provide recruitment opportunities for Iowa businesses and students. This program allows both the client and the student team to benefit from mentoring, networking, and recruitment opportunities. In addition to taking on consulting projects to strengthen the Iowa marketplace, EMI has also expanded to support Iowa businesses with global consulting needs. In partnership with the Institute for International Business (IIB), student teams are now experiencing global business culture while helping to put Iowa companies on the map around the world.
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Iowa JPEC | FY 2016
B U S I N E S S C O N S U LT I N G & I N T E R N S H I P S
THE CLIENT:
RESOURCES TO GROW
Aaron Warner, CEO and Lead Security Strategist at ProCircular Inc., took advantage of both the Internship (IIA) and Business Consulting (EMI) programs with the intention of advancing his company’s technical capabilities. The goal: to create future employees for the organization. ProCircular is based in Iowa City and provides information security and privacy services to the mid-market. Warner decided to utilize the internship program because bringing in students is a cost-effective, long-term investment for the organization. Warner met his intern, Kyle Den Hartog, at a student competition and immediately noticed his passion for entrepreneurship. “Kyle has been communicative, creative, and shown that same passion and applied it to the work we’re doing,” said Warner. “ProCircular’s experiences have been extraordinarily beneficial. Because of the resources these programs provided, ProCircular has successfully completed an initial assessment with a customer, and now has an effective process set in place that can be applied to all future customers.”
AARON WARNER CEO and Lead Security Strategist, ProCircular, Inc.
“Our Iowa JPEC interns and student consultants have made a significant long-term contribution to the organization. I’d recommend the program to anyone interested in developing both their company and potential future employees.”
KYLE DEN HARTOG UI Student, Computer Science, 2017
“This internship helped me to gain an in-depth insight into the cyber security industry while establishing contacts in this industry. Not only did I develop technical skills that will help me launch my career after college, but I also improved my communication skills that will help me while working in a team setting. Interning with this program has been very useful to me and my future professional goals.”
THE STUDENT: REAL-WORLD EXPERIENCE
When Kyle Den Hartog (Computer Science, 2017) heard about the IIA program, he knew it was a beneficial move to jump-start his career. Thankful for the chance to work on projects that added real value to both the company and his resume, Kyle said his hands-on experience interning with ProCircular has helped him learn more about the industry than he could have ever learned in a classroom. To Den Hartog, all the hard work was well worth it. His internship presented him with challenges and learning experiences while also allowing him to grow as a student. Den Hartog admits that he feels like he was able to add real value to the company during his placement, more than he could have added in a position with a larger corporation. “The startup environment of ProCircular has allowed me to contribute while thinking on my feet. This has been an excellent experience for me and I would recommend any student to take an opportunity like this,” stated Kyle.
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V E N T U R E SC H O O L A LU M N I
RECIPE FOR A STARTUP E’s Gluten Free Bakery has been providing the Iowa City area with delicious, gluten-free baked goods since 2012. Companies of all sizes need a little bit of innovative inspiration at times. Venture School did just that for E’s, helping their small business take it to the next level. Earie Seals has long had a passion for baking. Seals grew up on a small cotton farm in Arkansas, baking her first cake at the age of nine in a wood burning stove. When Seals’ children grew up and started inviting friends with celiac disease over to the house, she discovered a gluten-free opportunity to return to her love of baking. She began offering her products at the Farmers Market and soon recruited her son, Kwesi Seals, onto her baking team. The Seals heard about Venture School at a local event hosted by the Iowa City Area Development Group. The mother and son duo needed guidance on securing capital, expanding, and advertising. Venture School not only addressed these concerns, but also taught the Seals business concepts like customer discovery and the business model canvas. “I knew the roadmap for success required a lot of work, planning, money, and manpower. Venture School taught me how to make the necessary pivots to my business plan and take advantage of the wealth of knowledge and expertise in the community,” stated Earie. Kwesi Seals, a former paramedic and firefighter, stated “Venture School awoke the entrepreneur in me.” Many people think you have to be an innovative tech startup to benefit from entrepreneurial resources, but that is not
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Iowa JPEC | FY 2016
the case. Although technology and high growth startups are the focus of Venture School, it is also designed to benefit non-profits, corporate innovation teams, and small businesses just like E’s. Venture School Program Manager, Jennifer Banta, remembers Earie’s dedication to the program. “Through her hard work and many hours of mentoring with Venture School instructors and mentors, Earie was able to identify key partners and develop a distribution channel for her delicious goodies. Now Earie has the network and tools she needs to expand her in-home bakery into a cookie empire.” Since graduating from the program, the Seals have focused on building their brand locally, as well as redesigning the company’s website. For other aspiring entrepreneurs, Earie says, “There are numerous support opportunities for small business owners and dreamers in this area, so take advantage of them. Talk to these resources so you can see what needs to be done to make your business successful.” E’s Gluten Free Bakery products are currently sold at HyVee stores in Iowa City and Coralville, as well as John’s Grocery.
Find out more about E’s Gluten Free by visiting: www.esglutenfree.com
J AC O B S O N I N ST I T U T E F O R YO U T H E N T R E P R E N E U R S H I P
YOUTH PROGRAM COMES FULL CIRCLE Rachael Eisenreich (Finance and Entrepreneurial Management, 2018) got involved with entrepreneurship in high school thanks to the Jacobson Institute for Youth Entrepreneurship. Her exposure to the BizInnovator program led her to UI and back to Iowa JPEC. Rachael Eisenreich, a graduate of Eden Prairie High School in Minnesota, remembers buying smoothies and slushies from senior students in the lunch room. While this might sound strange, it was a normal occurrence at Eden Prairie thanks to entrepreneurship courses taught through the Jacobson Institute’s BizInnovator curriculum. The course, which is only open to seniors, allowed students to start their own businesses while earning a little money along the way. “When I saw how much fun the students were having running their own businesses, I made sure to take the prerequisites so that I could be in the class as a senior. When I found out that an entrepreneurship class could earn me college credits, it was only a greater incentive to take the class,” Eisenreich says. She enjoyed the class because it gave her flexibility to try new things, manage people, and do a variety of tasks each day. She realized the course made her think more about her future and her desire to be in charge. The BizInnovator curriculum is built using lean startup methodology, including the business model canvas and customer discovery. There are currently 22 states where
students at select high schools can earn UI college credit. The BizInnovator program exposes students to the idea of entrepreneurship as a career path and for many of them, including Rachael, paves the way for the transition into top-rated undergraduate innovative programs such as Iowa JPEC.
Eisenreich says, “I added my Entrepreneurial Management major when I got to Iowa to balance out my Finance degree and develop the skills that I need to be independent and successful in the working world. I researched Iowa JPEC after earning my credits and was amazed by all of the programs they offered.” Eisenreich first participated in I-Envision, one of Iowa JPEC’s entrepreneurial student organizations. She then took her first entrepreneurship course where she was tasked with creating her own business idea. “While most of the entrepreneurial ideas and business plans that I have written have been for classes, I feel confident that when I do come up with a marketable idea I will be successful, whether it is when I am still a student or later in life,” she stated.
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G LO BA L O U T R E AC H
FROM AFRICA TO IOWA The Institute for International Business hosted 25 Mandela Washington Fellows this summer, including Dave Okech. The six-week program focused on Iowa entrepreneurship - and how to take these business practices back to Africa. The Mandela Washington Fellowship for African Leaders is the flagship program of President Obama’s Young African Leaders Initiative (YALI). This program is designed to empower young people through academic coursework, leadership training, and networking. In 2016, University of Iowa became an official host of this program. The six-week fellowship program was led by Dimy Doresca, Director of the Institute for International Business (IIB). Doresca received a $150,000 grant award from the U.S. State Department, allowing UI to host 25 fellows for six weeks. The participants in the UI fellowship program represented 18 different African countries. A very competitive program, fellows that are selected are established leaders who are accomplished in promoting innovation and positive change in their organizations, institutions, communities, and countries. Dave Okech is just one example of how these fellows are making a difference. Dave is the founder of Sare Millers Ltd, an animal feed manufacturing company. He has made significant strides in the chicken and animal feed industry in his home country of Kenya. His company focuses on quality and affordability in
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Iowa JPEC | FY 2016
Photo Courtesy of Flow Media order to overcome three major concerns in Kenya: the high cost of feeds, the low quality of feeds, and women and youth dis-empowerment. In order to ease farmers’ burden in purchasing feed, Dave created a mobile app that allows farmers to buy directly from him, while significantly lowering the transaction costs. This project is based on human-centered design to benefit dis-empowered women. In short, women buy chicken feed from Dave. Those chickens then produce eggs, which are given to Dave to sell. Dave then gives the profits directly back to the women, helping them generate their own income. By doing so, these women become independent and thus do not have to rely on their parents or anyone else to feed themselves. So far he has over 50 women supplying chicken eggs for his company. Dave loved his time in Iowa City. He stated,“My favorite part about the program has been the training classes and how they are conducted. The instructors are really motivating and the lessons are practical and hands-on. I have a much deeper understanding of business operations now.”
ANNOUNCEMENTS
FOR IOWA JPEC ALUMNI AND PARTNERS
NOTABLE UI PUBLISHED RESEARCH When should a startup begin offering benefits? A newly published study from University of Iowa researchers discovered that certain benefits, described as ‘motivation-enhancing human resource (MHR) practices,’ can dramatically increase or reduce a firm’s chances of success, depending on when those benefits are offered. The study appeared in the Journal of Management and was recently featured in the Wall Street Journal and Inc. Magazine. Congratulations to Ernest H, O’Boyle, Assistant Professor, Department of Management and Organizations at UI for this recent publication.
SEND US AN UPDATE Have a new job? Hit a new professional goal? Send us an update! We love to hear what our alumni are up to so we can feature your success in one of our many publications. Please send updates to tarri-furlong@ uiowa.edu
GET ENGAGED There are plenty of ways to get connected. Mentor a startup or judge a competition. Email iowajpec@uiowa.edu to see how you can get involved.
Thank you to all the movers and shakers that help make the John Pappajohn Entrepreneurial Center at the University of Iowa a leader in innovation!
STAFF
David K. Hensley Lynn Allendorf Dawn Bowlus Dimy Doresca Paul Heath Jeff Nock Jennifer Banta Phil E. Jordan Tarri Furlong Kady Light Kelsi Ludvicek Kate McKenzie Annette Schulte Kristen Tobert Patricia Weiland Patricia Whidby
LECTURERS ADVISORY COUNCIL John Engel Elizabeth Hallgren Kimm Harris Kurt Heiar Kevin Krause Wade Steenhoek Joe Sulentic Bob Walker Matthew Adam Greg Barcus Keith Chiavetta Lee Eilers Rob Gettemy Scott Hauser Kirk Hiland Dennis Jordan Rich McCarty Todd L. Reding
Ben Anderson Tom Bedell John Buchanan P. Barry Butler, Provost Tom Cardella Joe Cortese III Chaden Djalali, Dean Sarah Fisher Gardial, Dean Jared Garfield Bruce Harreld, President Josh Krakauer Kevin Krause John Mickelson Patricia Miller Roby Miller John Pappajohn Ravi Patel Brad Phillips Anne Price Daniel A. Reed Jean Robillard Tim Rypma Don Schoen Alec B. Scranton, Dean Dennis Sparks Jason Trout Zac Voss Laura Westercamp
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University of Iowa John Pappajohn Entrepreneurial Center 108 John Pappajohn Business Bldg., Ste. S160 Iowa City, IA 52242-1994 P: 319-335-1022 iowajpec@uiowa.edu IOWAJPEC.ORG
FOLLOW US: @iowajpec Iowa Entrepreneurship