OwlSpark provided me skills and confidence to start my own business! Though initially daunting, 100+ customer interviews and the curriculum really helped me understand the type of product my user community needs. I think the experience facilitates an efficient use of resources by quickly preparing entrepreneurs to bring quality operational products that customers desire to the market —while consuming the least amount of wasted resources, time, and money in the process. SHEILA MAYFIELD Liberal Studies, Rice University ‘19
CONTENTS 05
From the Top
06
About OwlSpark
09
Our Visionary Donors
15
OwlSpark Alumni
21
The OwlSpark Internship Experience
27
Our Impact
33
OwlSpark Class 5
49
Building the Foundation
3
OwlSpark provided me with a sense of confidence in my understanding of entrepreneurship and business leadership that no classroom education could meaningfully replicate. Combining the best of Houston’s entrepreneurial resources, a dynamic, fastpaced curriculum, and a fantastic group of people—all under one roof—OwlSpark provided me with a summer I will never forget. ACHAL SRINIVASAN Computer Science, Rice University ‘20
FROM THE TOP At OwlSpark, we take pride in providing Rice entrepreneurs with best-inclass opportunities for experiencing entrepreneurship and ensuring long-term entrepreneurial success. Throughout the year we organize and deliver nationally recognized programming, create enrichment events where aspiring entrepreneurs work with and learn from one another, and for 12 weeks each summer, deploy our most visible program—a premier accelerated learning experience where promising startup teams validate and refine business models in preparation for launch. Since 2013, OwlSpark programming has reached hundreds of Rice entrepreneurs and formally trained 39 startup teams through five annual cohorts. We’ve aggressively built an integrated, immersive experience that allows students, staff and faculty from across all schools and all disciplines to build leadership skills and capacity as innovation-driven entrepreneurs. This year’s annual report features highlights and outcomes achieved by startups from both past and present cohorts, all of which were made possible by a team of passionate and creative educators, mentors, donors, investors and entrepreneurs. It is through their tireless contributions of structured training modules covering entrepreneurship, leadership, mentoring, communication, marketing, and prototyping that our startup teams are prepared for launch. These exceptional visionaries immerse our entrepreneurs in a rich and active community that believes in and supports their ideas. We’re pleased to report that since our launch five years ago, over fifty percent of our teams are still active and nearly half of our founders are still impacting the startup environment in some way. At OwlSpark, we invest time and resources in founders who demonstrate long-term commitment and promise; our support is ongoing, even after the conclusion of the summer cohort. Looking forward, we are excited about opportunities for OwlSpark’s growth and our founder’s success. We are grateful to the incredible network of university leaders, community partners, and visionary donors who enable this program. Each year brings to the forefront a new cohort of entrepreneurs who amaze us with their creativity, spirit and innovative thinking. We never know what to expect, but the bar continues rising and the foundation continues strengthening. To OwlSpark Class 5, we offer our congratulations and look forward to enabling your growth. We are confident your possibilities are endless, so please continue the OwlSpark tradition and keep disrupting.
KERRI SMITH Managing Director
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6
ABOUT OWLSPARK University’s startup accelerator that
POWERED BY OUR GENEROUS DONORS AND IN-KIND SPONSORS
supports teams of ambitious and promising
Thanks for helping us make an impact on
Founded in 2012, OwlSpark is Rice
entrepreneurs through an experiential program designed to launch technology companies. In concert with the Rice Alliance for Technology and Entrepreneurship and the Rice Center for Engineering Leadership, OwlSpark encourages and fosters a culture that attracts entrepreneurial-minded students and faculty to form and launch companies around innovative business ideas. OwlSpark is a leader in promoting
our community and on our startups. Without your commitment to our vision, OwlSpark would be unable to deliver the value on learning opportunities we present. Brookfield Properties JLL J.Tyler Office Furniture & Services
multi-disciplinary entrepreneurship
Liu Idea Lab for Innovation
through education, mentorship, and wide-
and Entrepreneurship (Lilie)
ranging community engagement. Michael Kane (Rice University ‘83) Since 2013, OwlSpark has introduced five cohorts, trained 39 startup teams, served nearly 100 founders, and made advancements in delivering on program objectives of building capacity in entrepreneurship and leadership. By researching and implementing best practices in startup acceleration, we provide founders with experiential strategies that
Tom Kraft (Rice University ‘67) Rice Alliance for Technology and Entrepreneurship Rice Center for Engineering Leadership Rice Engineering Alumni
result in positive, lasting, and measurable contributions to their learning and growth. This year’s cohort represented a broad spectrum of classification that included undergraduate and graduate students, recent alumni,
Rice University Station Houston Tiff’s Treats
students from other academic institutions, and professionals across various industries. OwlSpark
RiceOwlSpark
team@owlspark.com
OwlSpark
www.owlspark.com
TMCx Accelerator Ziegler Cooper
7
ADVISORS
LEADERSHIP
Brad Burke
Kerri Smith
Managing Director
Managing Director
Rice Alliance for Technology
OwlSpark
and Entrepreneurship
Jessica Fleenor
Kazimir (Kaz) Karwowski
Assistant Managing Director
Executive Director
OwlSpark
Rice Center for Engineering Leadership
Haley Hart
Thomas Kraft, Ph.D.
Assistant Managing Director
Entrepreneur in Residence
OwlSpark
Rice Alliance for Technology and Entrepreneurship
Andrew Maust
Kerri Smith
OwlSpark
Associate Managing Director Rice Alliance for Technology and Entrepreneurship
Wise Guy (Intern)
Paige Nicolaou Wise Gal (Intern) OwlSpark
RICE UNIVERSITY FACULTY Al Danto Lecturer in Management – Entrepreneurship Rice University Kazimir (Kaz) Karwowski Executive Director, Rice Center for Engineering Leadership Rice University Gayle Moran, Ph.D. Communication Coach Rice University Elizabeth (Beth) O’Sullivan Senior Lecturer in Management – Communications Rice University Hesam Panahi, Ph.D. Lecturer in Management – Entrepreneurship Rice University
OwlSpark? You better believe it! I have seen for each successive year an increase in team energy, quality, and commitment. I have seen significant personal challenges overcome, and meaningful entrepreneurial stories turn into real companies. I am proud to be a part in sharing a half-century of my varied experience. OwlSpark gives me the chance to sponsor, know and mentor young teams with aspirations as challenging as the lunar landing in so many ways. Once you see young entrepreneurs too shy to comfortably present to even friends quickly learn to stand in the lobbies of public buildings and preach the benefits of their product, you will be overwhelmed about what OwlSpark can do. To feel the great sense of value for time and financial support well provided, join the OwlSpark team of supporters and mentors. What a joy to see dozens of anxious and honestly fearful young entrepreneurs show huge smiles and confidence which their efforts earned with outside mentors and supporters. THOMAS KRAFT, Ph.D. Electrical Engineering, Rice University ‘67
OUR VISIONARY DONORS Through the generous support provided by these visionary donors, OwlSpark has deployed countless opportunities that help build and shape the entrepreneurial capacity of Rice entrepreneurs. We welcome their collaboration and extend our sincerest appreciation for their valued contributions.
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10
OUR VISIONARY DONORS
ANDREW DiNOVO
ALLEN GILMER
Electrical Engineering, Philosophy
Geology
Rice University ‘91
Rice University ‘84
Andrew is a registered patent attorney
Prior to co-founding Drillinginfo in 1999, Allen
who litigates and tries complex patent
was an independent oilman for seven years,
litigation matters, with a focus on technology
co-founding three profitable exploration
in the fields of electrical engineering,
& production companies. He began his oil
telecommunications and computer software.
patch career with Marathon Oil Corporation,
He has extensive experience in drafting and
as a geophysicist working in research,
negotiating license agreements and other
seismic acquisitions, and South American
technology-related contracts, serving the
exploration. Allen is active in all aspects
high-tech electronics and computer industries.
of Drillinginfo’s new product development
Andrew was selected as one of the top 50 lawyers in Central and West Texas Region in 2015, and has been listed in The Best Lawyers in America in the practice areas of: Patent Litigation, Intellectual Property Litigation and Patent Law. He has also been named a “Super Lawyer” from 2012-2015 and a “Texas Rising Star” from 2007-2009 in the area of Intellectual Property Litigation by Texas Super Lawyers and Texas Monthly Magazine.
and is widely recognized for his leadership and vision. He holds several patents in the field of component seismology. He earned a Bachelor of Arts degree in geology from Rice University and a Master of Science in geology from University of Texas at El Paso.
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RODMAN JOHNSON
MICHAEL KANE
Geology
Economics, Accounting,
Rice University ‘86
Business and Public Management
Rod is a graduate of Rice University and
Rice University ‘84
the University of Houston Law Center and
Michael co-founded Caltius Structured
now practices law with Enoch Kever, PLLC.
Capital in 1997 to provide junior capital to
At Enoch Kever, he covers environmental,
the underserved lower middle market. He
health, and safety counseling on permitting,
is instrumental to the fund’s success, from
compliance, enforcement, auditing, due diligence,
fundraising to deal origination, portfolio
rulemaking, and legislative initiatives. Rod
management and strategic planning.
demonstrates commitment to his community by volunteering with Meals on Wheels, Mobile Loaves and Fishes, the Austin Arts Festival, Habitat for Humanity, Volunteer Legal Services of Central Texas, and has served as a mentor with Austin Independent School District.
Previously, Michael managed Building and Construction Capital Partners, L.P., a private equity fund focused on the building and construction industries, and also served as the Managing Director at Richard C. Blum and Associates. He spent six years with the Industrial Finance Division of General Electric Capital Corporation where he originated and underwrote loans to companies across multiple sectors. Michael began his career with Metropolitan Life Insurance in its private placements group. Michael received his MBA, Masters in Accounting, and B.A. in Economics from Rice University, and is a CFA charterholder. He also serves on the Board of Directors of the National Writing Project, a nonprofit providing knowledge, expertise and leadership to educators to improve students’ writing and learning skills.
12
OUR VISIONARY DONORS
THOMAS KRAFT, Ph.D.
JOHN SPENCER
Electrical Engineering
Business
Rice University ‘67
Rice University ‘04
Tom’s academic background covers
John spent the first half of his career as a
mechanical and electrical engineering,
software engineer and then later as a product
math, and business from Stanford and
manager and in enterprise sales. He worked for
UCLA before his doctoral program at Rice
a variety of companies from Fortune 500 (EDS,
University. He holds 19 US Patents and
Compaq) to early stage startups (Vignette)
founded several medical device and medical robotics companies after being part of the NASA Mission Control Center design effort. In addition to teaching at UCLA, Tom was previously an adjunct Professor of Math for Houston Community College and a visiting lecturer on creativity. At Rice University, his focus is on increasing collaboration among Rice MBA students and the science and engineering departments at Rice in developing new commercialization. This summer, Tom created a signature wine blend and inspired the design of a personalized label that celebrates the unique collaboration between OwlSpark and RED Labs: Bayou Startup Celebration Bayou Startup Summer is the story of two university startup accelerators that blended together when they realized the value of collaboration. With bold notes of mentorship, education, and creativity, OwlSpark and RED Labs give entrepreneurs the legs they need to embark on their winding journeys.
After Vignette, John founded Brush Creek Flies, a fly tying company in Chiang Mai, Thailand. And for ten years, also worked as a professional fishing guide and lodge owner in south Texas. In 2012, John merged those paths into a startup that focused on reservation and product distribution systems for resort communities. As a co-founder of OnceThere, they focused on providing distribution management capabilities to small-to-medium sized operators that deliver in-destination travel experiences and services. He sold his interest in OnceThere SimpleView in 2017. Distribution through a host of property managers led him to found STR Helper, where he saw the opportunity to empower municipalities to manage short term rental compliance in support of more vibrant communities.
OwlSpark helped me develop a toolkit for starting my own company, and be able to knowledgeably navigate the entrepreneurship process successfully. Due to OwlSpark I have the network, the experience, and the confidence to pursue entrepreneurship in the future. ZAIN AZIZ Economics and Social Policy Analysis, Rice University ‘19
OWLSPARK ALUMNI The accelerator experience we have designed and expanded over the past five years is more than just the delivery of entrepreneurial training. OwlSpark has evolved into a culture and community where founders encourage, support, and advocate for one another, not only during the summer program, but throughout the academic year, and beyond their Rice experience. OwlSpark has become a family of diverse and talented alumni founders, each possessing an untamed entrepreneurial passion. Through our valued partnerships with university and community organizations we have created an environment that enables founders and teams to share ideas, experience the value of collaboration, and be surrounded by like-minded people and rich resources.
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ALUMNI PROFILE Since our founding, OwlSpark has grown into a recognized university startup accelerator that has helped nearly 100 entrepreneurs create 39 new ventures. Though widespread commercial success by our startup teams has far to go, the foundational principles and entrepreneurial skills we teach enables founders to build capacity as innovation-driven entrepreneurs. Today, more than half of the startups from our first five classes are still active. Of those, 65 percent have collectively raised nearly $4,500,000 in funding, and nearly 40 percent have been awarded sizable federal grants, been admitted to highly
Senthil Natarajan, Founder Ziel Sensory • Class 3
ranked startup programs, or enjoyed highly successful crowdfunding campaigns.
Scott Key and Sam Brisendine, Founders Emergency Floor • Class 1
Camille Nichols, Founder LeaseALLY • Class 4
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5
COHORTS
98
39
STARTUP TEAMS
28%
FOUNDERS
LIFE SCIENCE & HEALTHCARE
69%
TECHNOLOGY
12%
CONSUMER-FACING
38% 10%
RICE STUDENTS
RICE ALUMNI, FACULTY, OR STAFF
18%
NO RICE AFFILIATION
59%
ENGINEERING & ARCHITECTURE
24%
BUSINESS
10%
ENERGY & CLEAN TECHNOLOGY
8%
EDUCATION, SOCIAL IMPACT, TRANSPORTATION
53% ACTIVE
65% FUNDED
10%
SOCIAL SCIENCE & NATURAL SCIENCE
NEARLY
$4.5M RAISED
WORTH MENTIONING • 69% of all teams have at least one minority founder
7%
CONTINUING STUDIES & HUMANITIES
• 45% of all teams have at least one female founder • 21% of all teams accepted into other highly-ranked startup programs
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OWLSPARK ALUMNI CLASS 1
MICROSCHOOL REVOLUTION (previously Coached Schooling) created a high-tech network of affordable private
CHECKEDTWICE developed a web-based gift registry for families and friends. CheckedTwice has generated more than $130,000 in revenue. Houston
schools combining the best elements of eLearning, home, and traditional schooling to reinvent the one-room schoolhouse.. Houston
www.checkedtwice.com
www.talentunbound.org
CLASS 2
EMERGENCY FLOOR developed low-cost raised flooring systems for refugees fleeing conflict and living in temporary tent-like
BIG DELTA SYSTEMS developed
shelters and camps.
an advanced electrode design and
Emergency Floor raised more than $54,000 through a successful Indiegogo crowdfunding campaign in 2015, and has successfully completed pilot projects in Iraq, Lebanon, and Syria. Houston
www.emergencyfloor.com
MEDICAL INFORMATICS developed a platform that provides clinical decision support technology for healthcare professionals.
manufacturing process for lithium ion battery components that increase energy and power performance across multiple industries. Big Delta Systems has raised $1,185,000 through prizes and investment, including the $35,000 Goradia Innovation Prize in 2015. Houston
www.bigdeltasystems.com
DiBS developed a web-based tool that gives users the power to create
Medical Informatics has raised more than
informative, interactive visualizations
$771,500 through prizes and investment,
for healthcare professionals.
received FDA approval for sale of their product in the United States (SickBay), and established a partnership with Texas Children’s Hospital. Houston www.medicalinformaticscorp.com
PARKIT developed a computer vision system that collects real-time parking lot space availability data from camera images to increase parking efficiency. ParkIT completed their first sale and participated in the inaugural cohort of Jaguar Land Rover’s Tech Incubator (Portland, Oregon) in 2016. They have raised more than $148,500 through awards, prizes, and investment. Dallas
www.parkit.io
DiBS participated in the first cohort of TMCx, the Texas Medical Center Accelerator (Houston, TX). Houston
www.dibsvis.com
ONEJUMP developed a platform that connects underserved students to enriched, life-changing opportunities, including college programs, internships, summer camps, and research labs. OneJump raised more than $14,000 through a successful Indiegogo crowdfunding campaign in 2014, and completed the Longhorn Entrepreneurship Accelerator Program (LEAP) in 2017. Houston
www.onejump.org
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CLASS 3
CLASS 4
AROVIA developed a high-resolution, 24-
MÜVVE is a social connectivity app for local
inch portable screen that easily collapses and
fitness businesses that expands client bases
expands like an umbrella for use in connecting
by building community and organizing events.
devices on-the-go. Arovia has participated in Retail Xelerator, HAX accelerator (San Francisco, CA), and Luminate accelerator (Rochester, NY). The company has raised nearly $1,700,000 through grants, prizes, crowdfunding campaigns, pre-orders, and investment. Arovia was featured as a Tech Trend of 2017 on The Today Show, and was recently awarded a U.S. utility patent.
Müvve began generating revenue, and launched their app in 2017. Houston
www.muuve.com
TOPL is an investment platform built to connect investors with middle-market opportunities in developing countries. Topl was accepted into Brightlands Innovation Factory’s two-year accelerator program
Houston
www.arovia.io
OPEN FACTORY established a 3D printing factory for on-demand small batch production.
(Netherlands) in 2017, and has raised more than $109,000 through investment. Houston
www.topl.me
Open Factory began generating
CLASS 5
revenue in 2015. Houston
www.openfactory.co
ZIEL SENSORY (previously Ziel Solutions) developed a wearable device (sleeve) that combines muscle sensors and motion analysis to objectively identify harmful pitching in baseball.
portable hardware system that generates fresh, potable water from the atmosphere. AtmoSpark has built four prototypes, and raised more than $73,000 through
Ziel Sensory was named among Forbes’ 15 Most Innovative College Startups, ranked among Top 500 Early Stage Science Startups Worldwide by Hello Tomorrow Conference, and has been featured on MLB.com and Sports Illustrated online. The company has raised $12,500 through prizes. Dallas
ATMOSPARK manufactures Element, a
www.zielsolutions.com
grants, investments, and prizes. Beaumont
www.atmosparktech.com
PREDICTMX builds specialized hardware and predictive software for oilfield service companies to reduce maintenance costs and on-the-job failures. PredictMX has raised $5,000 through prizes, and won the People’s Choice Award at the 2017 Digital Oilfield Conference. Houston
www.predictmx.com
OwlSpark provided the perfect platform to transform inchoate ideas to a viable venture. The access to resources, immediate feedback from mentors and the network we built are invaluable assets that we can take with us going forward. Overall, it was an incredible experience and you’ll be surprised at how much you can learn in a day! SHRUTHI THIRUPAKUZI VANGIPURAM Chemical Engineering, Rice University ‘18
THE OWLSPARK INTERNSHIP EXPERIENCE In addition to delivering an amazing founder experience, OwlSpark also created an enriched internship experience for students with an interest in learning about entrepreneurship from a leadership perspective. Immersed in all-things-OwlSpark, our Wise Guys and Gals get first-hand access to all aspects of program deployment, including interaction with featured mentors and speakers, session organization and attendance, and leading our communication and marketing initiatives. Our Wise Guys and Gals are integral to helping us stay on track and in focus.
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THE OWLSPARK INTERNSHIP EXPERIENCE CLASS 2 • 2014
JAMES McCREARY
SENTHIL NATARAJAN
Chemical and Biomolecular Engineering
Electrical and Computer Engineering
Rising Junior, Rice University
Rising Sophomore, Rice University
I served as an Operations Intern with
I served across all lines of OwlSpark
OwlSpark and it was a very encompassing
since my freshman year on campus, on the
experience. The internship afforded the
leadership team, as an intern in the Summer
opportunity to help others succeed by
of 2014 (Class 2), and on the Board of Advisors.
assisting participants in creating their products
Working with OwlSpark was one of the more
or services to solve a need. Above all however,
transformative experiences of my time at
was the ecosystem in which the internship
Rice and was the first experience which
took place. The diversity and caliber of people
signaled to me that I wanted to engage in
was nothing short of astonishing and you’d be
entrepreneurship and that startups were
hard-pressed to not be impressed and inspired
what I most enjoyed. Working with OwlSpark
to have the “entrepreneurial mindset”. In fact,
gave me an opportunity to not only learn
my experience laid much of the groundwork
about building a startup, but also opened up
that enabled me to launch my own businesses.
connections to the entire Houston startup
The friendships formed with founders and
community, connections that I still lean on to
others in the community you meet will last a
this day, even after graduating. For anyone
lifetime. My encouragement to any OwlSpark
working with OwlSpark as it continues its
Wise Guy is to soak in as much as possible and
growth, I’d say this: if you have an open mind
engage yourself in being of value to others.
and are proactive about defining your time there, you’ll find that it’ll be one of the most valuable experiences you could have.
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CLASS 3 • 2015
BEN BALDAZO
ANDY ZHANG
Chemistry, Mathematical Economic Analysis
Bioengineering; Minors in Engineering Design,
Rising Sophomore, Rice University
Global Health Technologies
I really enjoyed my time with OwlSpark. I miss the culture of honest criticism amid
Rising Sophomore, Rice University I served as Marketing and Business
support to mend any of those exposed flaws.
Operations Intern the summer after my
Today I try to create a similar culture in group
freshman year. My favorite part of the
or professional contexts because it boosts
OwlSpark experience was having the
productivity without sacrificing social culture.
opportunity to immerse my self in the startup
There are certainly lessons from OwlSpark I still use as well. The most important being the experience I gained in framing. The different contexts of team interviews, guest speaker interviews, and even hotpepper-pitches helped me discern how to individually treat different interview or conversational aspects in a professional setting. I appreciate that practice every time I interview for a position, have team meetings, or work with upper-level management. I appreciated the ability to learn entrepreneurial strategy and contextualize it with the experiences of the teams. I recommend the program to anyone trying to get into the world of entrepreneurship or get a foothold on small business practices and would do it over again myself. As advice to any future OwlSpark Wise Guy, the hot-pepper pitches are totally worth it, especially if you consume all of the pepper and chew vigorously.
culture and surround myself with ambitious and innovative mentors and founders. It was especially great to experience that right after my freshman year to really spark my interest in entrepreneurship. I was able to form a great network that I have reached out to on various occasions for any new project ideas or technical or business help.
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THE OWLSPARK INTERNSHIP EXPERIENCE CLASS 4 • 2016
CLASS 5 • 2017
BEN HERNDON‑MILLER
ANDREW MAUST
Statistics, Minor in Sociology
Political Science
Rising Junior, Rice University
Rising Junior, Rice University
Spending my summer interning at
My OwlSpark internship experience
OwlSpark allowed to me dip my toes in the
was an incredible opportunity to learn more
water of Houston’s startup ecosystem without
about the entrepreneurship process, and
an idea of my own. It was an absolutely
plug into the Houston start-up ecosystem.
invaluable experience that allowed me to
I have always been fascinated with the idea
further my education, grow my personal
of starting my own company, and by working
network, and build professional skills all in
at OwlSpark I got a front row seat to see six
one summer. I have had very few jobs where
startups, in varied industries, start the business
I was able to learn new things and meet
process. I would highly recommend this
new people every single day. The OwlSpark
internship to anyone who has an interest in
internship has been one of the most important
entrepreneurship, but isn’t quite sure what they
and formative experiences in my career at Rice
want to do yet. Additionally, you get to meet
University and has really allowed me to carve
so many passionate people who also love
a path forward for myself. I highly recommend
entrepreneurship. Working on this team grants
the program to any student interested in
you membership to the OwlSpark family,
entrepreneurship without an idea of their own,
where five year’s worth of founders, mentors,
or to any student looking to get more involved
and leadership team members still stay in
with Entrepreneurship at Rice and in Houston.
contact, share and connect you to resources, and will always be there to support you.
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CLASS 5 • 2017
PAIGE NICOLAOU Economics Rising Senior, Texas A&M University To borrow the words of one of our speakers
entrepreneurship. OwlSpark is a
this summer, the culture at OwlSpark is
community who strive towards their
“syrupy thick,” meaning that it’s practically
own goals and the goals of the startup
palpable. From the moment I walked in, it
community as a whole, working together
was almost overwhelming. I’ve never seen a
to see their ambitions through.
group of people working so diligently because they believe so much in their program and the people that they’re working with. This applies not only to the Leadership Team, but to the startup teams as well. Kerri said on my first day, as I was trying to learn the ropes, that the teams “slack all weekend.” My immediate response was the chuckle—as hard as I do work, I don’t mind a little slacking off occasionally; however, I quickly realized that Kerri meant that the teams communicate via a messaging service called “Slack” all day, every day, and throughout the weekend. The work was endless and at times relentless, but I got to see that the work I did directly impacting everyone around me. In the past, I had sorted files, but now I uploaded data to the drive for teams anxiously looking to see how they could improve and move forward in their work. The experience is so all encompassing—it isn’t just a place to work, or a place to learn about
I had no idea what I was getting myself into and once I got there I felt out of my depth until one bright smile from a friendly founder told me I was in the right place. I learned lots about entrepreneurship and pretotying. The most valuable lessons for me at this point in my life that I have taken away from OwlSpark were to do your best work all the time and that in taking the opportunity to help people, you may find an opportunity for yourself. Because I asked what I could do and how I could help, I ended up creating content for Instagram and planning social events. I’m still not sure what entrepreneurship will look like in my years to come, but I now know that it isn’t as intimidating as I once thought, mainly because of the people that I got to know at OwlSpark. Walking into the office on that first day I walked onto a rollercoaster. Good thing I love rollercoasters.
OwlSpark has been a life-changing experience for me. With the sessions, teamwork, and interviews, I have been able to see what I do well as an individual and in a team and hone down on those. I have grown and developed as a person and put me in a better position to work in a team but also become a leader in a startup. TEJUS MANE Chemical and Biomolecular Engineering, Rice University ‘12
OUR IMPACT Throughout the years, OwlSpark has influenced hundreds of Rice University students and community entrepreneurs through an increased number of year-round entrepreneurial activities and mentoring services. Events and programs internal and external to Rice, such as business plan competitions, venture challenges, elevator pitch competitions, and a number of other entrepreneurial-focused activities and programs have resulted in the launch and support of many promising startups within and beyond the hedges,
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COLLABORATION INSIDE THE HEDGES: PARTNERS AND PROGRAMS
Rice Engineering Alumni
Throughout the academic year, OwlSpark
RICE ENGINEERING ALUMNI (REA)
collaborates with departmental units
REA catalyzes collaboration and lifelong
and organizations to organize and support programming that enhances entrepreneurship and enriches the OwlSpark experience. These partnerships ensure greater reach, higher visibility, and enhanced entrepreneurial learnings.
connections among alumni and the George R. Brown School of Engineering by recognizing outstanding achievements, supporting students, and connecting alumni, students, faculty, and staff. Since 2014, REA has supported OwlSpark founders through a
LIU IDEA LAB FOR INNOVATION AND ENTREPRENEURSHIP (Lilie)
Prototype Fund allowing entrepreneurs to
Lilie offers experiential courses, a variety
and an emphasis on low-cost iterative
of co-curricular opportunities, and coworking space for students in interested in entrepreneurship and innovation. entrepreneurship.rice.edu
RICE CENTER FOR ENGINEERING LEADERSHIP (RCEL) RCEL’s programming enhances traditional engineering education by providing skills not typically covered in engineering curricula. Through a series of curricular and co-curricular learning experiences, RCEL students learn to create and communicate a vision, build high-performing teams, form and execute collaborative plans, and create innovations that endure. rcel.rice.edu
take innovations and ideas from concept to demonstration. Using small grants experimentation, founders can research, test core assumptions, and explore design options before building out their entire product. alumni.rice.edu/rea
RICE ENTREPRENEURSHIP CLUB Rice Entrepreneurship Club (REC) is a student-run campus organization that introduces prospective entrepreneurs to available resources within the Rice and Houston communities. REC provides undergraduates with the resources and opportunities to grow their professional network, engage with entrepreneurs, connect with like-minded peers, and develop the skills necessary to start a company. Rice Entrepreneurship Club
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RICE UNIVERSITY JONES GRADUATE SCHOOL OF BUSINESS ENTREPRENEURSHIP CLUB
All Rice University students are eligible
The Rice Business Entrepreneurship Club
Rice Business Plan Competition.
is dedicated to fostering the innovative entrepreneurial spirit and vision in the Jones Graduate School of Business community. Through panels, guest lectures, site visits, and other networking events, members gain access to a lifelong learning and support network to minimize risk and maximize success. jones.campusgroups.com/entrepreneur/ about
to compete. The winning graduate team represents Rice University in the annual
alliance.rice.edu/owlopen
STUDENT ACTIVITIES FAIR Student Activities at Rice University is dedicated to helping students develop as leaders and supporting them in their efforts to make a positive impact at Rice University. Each semester, Rice University hosts the Student Activities Fair to connect students with programs and organizations
3 DAY STARTUP
across campus that provide practical
Jointly organized and hosted by Lilie, Rice
educational experiences designed to foster
University Entrepreneurship Club, Rice Jones
leadership development and complement
Graduate School of Business Entrepreneurship
the traditional classroom education.
Club, and OwlSpark, 3 Day Startup is a 72-hour learning-by-doing campus-wide program that teaches entrepreneurial skills to university students in an extreme hands-on environment.
INFORMATION SESSIONS AND MEETUPS OwlSpark hosts open information sessions and meetups to provide insight into the
rice.3daystartup.org
OWL OPEN
summer accelerator experience and possibly meet potential co-founders or teammates. These events are often led by alumni
The Owl Open is Rice University’s internal
founders and reflect the OwlSpark culture
business plan competition and qualifier
of ongoing support and collaboration.
for the Rice Business Plan Competition.
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COLLABORATION BEYOND THE HEDGES: PARTNERS AND PROGRAMS
SOUTHWEST NSF I-CORPS TM
STARTUP CAREER FAIR
Southwest NSF I-Corps™ is a National Science
Jointly organized and hosted by OwlSpark,
Foundation hub for education, infrastructure
the University of Houston’s RED Labs, and
and research to engage academic
the Texas Medical Center Accelerator
scientists and engineers in innovation.
(TMCx), Startup Career Fair is a one-
Through the combined entrepreneurial experience and research capabilities of five leading Texas research institutions, Southwest NSF I-Corps™ supports and connects young scientists, leading faculty and the business community across the Texas and Southwest region in testing their funded research for potential commercial applications through national and regional I-Corps™ programming. www.swicorps.org
day event connecting local startups with entrepreneurial-minded students seeking internships and experienced management pursuing full-time opportunities. The event helps students and professionals find exciting opportunities where they can make an impact, gives local startups access to the talent they need, and fosters the entrepreneurial ecosystem in Houston and beyond. Startup Career Fair was founded in 2013 to bridge the talent gap and build a pipeline of qualified candidates within the local startup community, The environment and set up was wonderful. A great testament to the growing startup community in Houston. — Startup It was an excellent fair. The startups I talked to were really nice and patient. And it is free registration which is very nice. Thank you! — Jobseeker Great event. Great quality people. We’ve been part of it all three years and we get great quality interns and people. It continues to improve. — Startup www.startupcareerfairhtx.com
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UNIVERSITY OF HOUSTON RED LABS
STATION HOUSTON
RED Labs is the University of Houston’s
Station Houston works to transform Houston
co-working space, startup accelerator, and
into a world-leading hub for tech innovation
technology entrepreneurship program.
and entrepreneurship. Serving as the focus of
Supported by the Wolff Center for
a vibrant district where people live, work and
Entrepreneurship, RED Labs works with
play, Station Houston aspires to become the
UH-affiliated founders (faculty, students,
connective tissue for cultivating community
and recent alumni) to turn their technology
and fostering a culture of innovation.
startup ideas into high growth ventures by providing free co-working space, access to
www.stationhouston.com
startup mentors and community resources,
HOUSTON EXPONENTIAL
and customized startup curriculum. During the summer, RED Labs joins us in
Houston Exponential fosters a robust
deploying a joint accelerator that runs up
ecosystem that supports high-growth, high-
to ten startup teams them through a full-
impact startups. Created in 2017 through
time, three-month intensive program.
a combination of Mayor Sylvester Turner’s Innovation and Technology Task Force, the
redlabs.bauer.uh.edu
Houston Technology Center, and the Greater Houston Partnership’s Innovation Roundtable, OwlSpark works with Houston Exponential to bolster our innovation ecosystem and drive the region to become a top 10 startup ecosystem by 2022. www.houstonexponential.org
I learned a lot about talking to customers and the value that can provide a startup. Being forced to get out of the building and pushing myself to get in front of people that can answer the important questions around my business was a great experience. Also learning about the Houston startup community and meeting people active in that community will provide lasting benefits even if my startup business changes direction. CHARLES CONNELL Business, Rice University ‘18
OWLSPARK CLASS 5 From May 22, 2017 through August 11, 2017, OwlSpark delivered an intense core curriculum based on the Disciplined Entrepreneurship and Lean Launch methodologies. The program was bolstered with relevant business fundamentals, access to ongoing mentorship, office hours with local entrepreneurs and industry experts, and professional networking events that enhanced community collaboration. Housed in downtown Houston at the DesignHive by Brookfield, OwlSpark created a unique, collaborative co-working space for aspiring entrepreneurs that offered inspiration, stimulation, education, and motivation to launch Rice University’s newest startups.
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CLASS 5 CURRICULUM One of the largest factors that differentiate university-based accelerators from traditional for-profit accelerator models is the focus on rigorous education and measurable knowledge gained. The curriculum for Class 5 featured nearly 70 sessions and provided: • Disciplined Entrepreneurship and NSF I-Corps™’ Lean LaunchPad fundamentals and deep dives into customer identification, market segmentation, value propositions, customer acquisition, distribution channels, pricing models, and go-to-market strategies; • Business fundamentals including market research, branding, product development, milestones, intellectual property, communications, sales, fundraising, corporate formation, and accounting; • Consolidation of fundamentals and preparation for launch through training modules covering communication, marketing, coaching and pitching. The curriculum also featured a weekly Startup Founders Series where local entrepreneurs shared personal stories of success and failure. A weekly Leadership Lunch Series, led by the Rice Center for Engineering Leadership, instilled components of leadership, management, negotiation, vision, ethics, and team development through discussions, case studies, and interactive simulations.
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MAY
WHO IS YOUR CUSTOMER? Business Model Canvas, Customer Development, Value Propositions, Beachhead Market, Total Addressable Market, Market Segmentation, Evaluating Market Opportunities WHAT CAN YOU DO FOR YOUR CUSTOMER? End User Profile and Persona, Value Proposition Design, SCRUM / Agile Development, Founder’s Dilemmas, Legal Considerations, Brand Development
JUN
HOW DO YOU REACH YOUR CUSTOMER? Team Development, Channels and Go-To-Market Strategies, The Science of Teamwork, Mapping the Sales Process, Sales Strategies, Charting Competitive Position, Map the Customer Journey HOW DO YOU MAKE MONEY? Cost of Customer Acquisition, Lifetime Value of an Acquired Customer, Business Model Design HOW DO YOU DESIGN AND BUILD YOUR PRODUCT? Motivation, Identify and Test Key Assumptions, Brand Implementation,
JUL
Website Considerations, Define the Minimum Viable Business Product, Pretotyping, Best Practices for Hiring Developers, Market Research,
AUG
Storytelling, Public Speaking, SaaS Lifecycle Phase 1: Product-Market Fit HOW DO YOU SCALE? Nondilutive Fundraising, Financial Literacy, Angel Capital vs. Venture Capital, Venture Debt, Increasing Value to Outside Investors, Leveraging Ecosystem Resources
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CLASS 5 PROGRAM ELEMENTS
UNIVERSITY COLLABORATION For the third year, we fully integrated
NSF I-CORPS TM REGIONAL PROGRAM
OwlSpark with RED Labs, the University of
Regional NSF I-Corps™ Programs facilitate the
Houston’s startup accelerator to enhance
commercial evaluation of academic research
founders’ experience through collaborative
and innovation, and develop potentially
co-working, shared resources, increased
eligible teams for the National NSF I-Corps™
mentor impact, heightened community
Program and a $50,000 I-Corps™ team grant.
awareness, and increased event attendance.
Through OwlSpark, teams are introduced to
DESIGN SPRINT
the fundamental I-Corps™ principles, which helps them explore the potential value of
This year, we took a new approach in designing
their research or innovation, and quickly
our program. Practicing what we preach, we
validate their commercialization strategy.
enhanced the planning process with design thinking, customer discovery, and prototyping. The outcome was a unique curriculum which blended principles from two methodologies and infused them with elements of business fundamentals and mentorship. To assist founders in navigating the program, the OwlSpark Leadership Team also developed the Class 5 Action Book, which offered founders a curriculum play-by-play.
ACADEMIC CREDIT New this year, founders classified as currently enrolled (Rice University) students could elect to receive academic credit for their OwlSpark participation, in lieu of a stipend. Approved by the university in Spring 2017, accepted students may register for six credit hours through BUSI 221 and BUSI 469.
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BRAND DEVELOPMENT
PROTOTYPING
This summer, we enhanced the branding
A requirement of the OwlSpark accelerator
and design elements of our program. For the
program is the development of a minimum
second time, we offered sessions to help
viable product (MVP). With small grants
founders gain a better understanding of how a
and an emphasis on low-cost iterative
brand impacts a startup, and begin the process
experimentation, startup teams performed
of crafting their own brand. To round out the
research, tested core assumptions, and
visual development of the startup teams’
explored multiple design options before
brands, we continued our collaborative effort
building out their technology. Recipients
with the community to bring in designers who
of Rice Engineering Alumni awards include
were excited to help early stage ventures grow.
Arovia, Open Factory, and Ziel Sensory from Class 3, LeaseALLY and Topl from Class 4, and AtmoSpark from Class 5.
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On August 1, 2017, OwlSpark and the University of Houston’s RED Labs co-hosted the fourth annual Bayou Startup Showcase. The Bayou Startup Showcase is a celebration of entrepreneurship, the Houston startup community, and the university accelerator programs that support them. The event provided a platform for startups from both accelerators to showcase their businesses to more than 450 mentors, advisors, entrepreneurs, investors, and key stakeholders from the greater Houston community. www.bayoustartupshowcase.com
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THE ATTENDEE EXPERIENCE Another excellent culmination to
The five-minute startup presentations were excellent. The presenters were well
the joint programs’ summer session,
coached and the slides were clear and
which showcased the very high level of
informative. This is a good role model for
achievement across all of the teams.
startup presentations everywhere.
Great opportunity to hear new
The Bayou Startup Showcase exemplified
ideas from new minds! LOVED the
the incredible talent, creative ideas,
session by the group that didn’t go
remarkable entrepreneurs as well as the
forward—that was really powerful.
ecosystem in the making for Houston.
This was my first event to attend
The Bayou Startup Showcase enables
and everyone did a great job. The
us to meet and network with entrepreneurs
atmosphere was very positive and
who possess the potential to be our future
supportive, the networking was interesting
influential business leaders, visionaries,
and I enjoyed hearing the pitches.
futurists, and luminaries across multiple technologies and disciplines.
Excellent collaboration between Rice and UH.
I was impressed with the deep dive bringing forward a marketable concept was given in such short a time period. The tools and resources available to the founders is impressive. I am happy to say that I unexpectedly am able to assist a couple of the companies by passing along their contact info to people that will be able to provide research inputs. I was very impressed by the presentation of the company that failed. Too often much effort is put into ventures that cannot succeed. Along with successful ventures, seeing one pulled is also a valuable experience.
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CLASS 5 STARTUP TEAMS Through a selective vetting process that
6
targets promising, scalable, innovative technologies, OwlSpark admits up to ten startup teams into an annual 12-week
STARTUP TEAMS
summer cohort. Throughout the summer, OwlSpark delivers a curriculum built around
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educational, leadership, and mentorship
FOUNDERS
components and connects founders with a community of entrepreneurs and experienced business leaders who help guide and advise them through their launch. This year, OwlSpark supported a cohort
47%
53%
FEMALE
MALE
of six startup teams building innovative ventures in life sciences, energy, consumer
63%
products, and technology industries.
RICE STUDENTS
5%
RICE ALUMNI, FACULTY, OR STAFF
32%
NO RICE AFFILIATION
42%
32%
BUSINESS
ENGINEERING
11%
5%
NATURAL SCIENCE
SOCIAL SCIENCE
11%
CONTINUING STUDIES
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ASCENT DÉCOR is a platform that enables
ATMOSPARK manufactures Element, a
short-term apartment dwellers to rent designer
portable hardware system that generates
level décor.
fresh, potable water from the atmosphere.
Bo Jin
Matthew Bukovicky
Rice University ‘18
Lamar University ‘17
founders@ascentdecor.net
Aniket Khade
www.ascentdecor.net
Lamar University ‘19 Jiujiu (Joey) Lou Rice University ‘19 Tejus Mane Rice University ‘12 Lamar University ‘17 Damilola Runsewe Lamar University ‘17 Kaarthika Thakker Rice University ‘20 founders@atmosparktech.com www.atmosparktech.com
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CLASS 5 STARTUP TEAMS
PredictMX MX POWER AUDIO TOURS hosts and creates
PREDICTMX builds specialized hardware
self-directed museum audio guides.
and predictive software for oilfield service
Sheila Mayfield Rice University ‘19 Eve Reed Texas A&M University ‘91 Tiffany Smith University of Houston ‘86 Mary Ward The University of Texas at Austin ‘87 Betsy Wittenmyer Rice University ‘18 founders@poweraudiotours.org www.poweraudiotours.org
companies to reduce maintenance costs and on-the-job failures. Charles Connell Rice University ‘18 founders@predictmx.com www.predictmx.com
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SpecM bile RADIATE is a corporate wellness platform
SPECMOBILE developed a real-time,
that guides employees in identifying and
mobile chemical analysis solution to oilfield
managing workplace stress.
and production facilities.
Vidya Keertana
Zain Aziz
Rice University ‘18
Rice University ‘19
founders@getradiate.com
Alfonso Galindo
www.getradiate.com
Rice University ‘17 Samantha Lewis Rice University ‘17 Achal Srinivasan Rice University ‘20 Shruthi Thirupakuzi Vangipuram Rice University ‘18
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SIX-WORD STORIES
The way ideas are conveyed most effectively is through stories—they are how we think,
Safe space for you to hustle! — Vidya Keertana, Radiate
share and interpret experiences. A story told in only six words, which is most
Getting out, solving problems, creating
often attributed to Ernest Hemingway for his
value.
infamous six-word story, “For sale: baby shoes,
— Tejus Mane, AtmoSpark
never worn,” the idea behind a six-word story is to tell a story, without telling the whole story. Most often, the writer states a fact, or facts, which leaves the story to the reader’s imagination. The reader can use their own version of the story to best remember the facts, which lends the reader the opportunity to fill in their own version of the story. This summer, we challenged founders to write a six-word story that best describes their OwlSpark experience.
I thought. I thought wrong. Awesome. — Josh Weibling, IntrONE (RED Labs)
Empowering friends, growing business, better world! — Sheila Mayfield, Power Audio Tours
The speaker quality was really good. — Bo Jin, Ascent Décor
Value of the program is huge. — Vidya Keertana, Radiate
Too busy for six word story. — Brad Day, DermaVision (RED Labs)
Empowering entrepreneurs. Both challenging and rewarding. — Kerri Smith, OwlSpark
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Stalked them on LinkedIn. No fear. — Matt Bukovicky, AtmoSpark
Being a single founder is hard. — Vidya Keertana, Radiate
I tried. I thought. I left. — Josh Weibling, IntrONE (RED Labs)
Did not expect yachtsman as customer. — Tejus Mane, AtmoSpark
We thought everything was spectacularly
I’m going to miss the milestones. — Vidya Keertana, Radiate
I came, I grew, I’m grateful. — Damilola Runsewe, AtmoSpark
You can make it, just persevere. — Randy Zhou, Blume Laboratories (RED Labs)
It made sense. Even the accounting. — Vidya Keertana, Radiate
Cheers today! Jeers tomorrow! Cheers
organized.
again!
— Sheila Mayfield, Power Audio Tours
— Josh Weibling, IntrONE (RED Labs)
I learned. Learned every single day. — Josh Weibling, IntrONE (RED Labs)
Was a growing experience for me. — Tiffany Smith, Power Audio Tours
Success is what you make it. — Minh Chau Ha, Drivedia (RED Labs)
It’s much better than I thought. — Bo Jin, Ascent Décor
Lasting memories with a great team. — Jonathan Avila, Core Simulations (RED Labs)
Marketing is super, super, super hard. — Vidya Keertana, Radiate
As a team, and individually, we’ve grown. — Tejus Mane, AtmoSpark
Finally. Happy in a crowded room. — Josh Weibling, IntrONE (RED Labs)
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ADVISORS, MENTORS, PITCH COACHES, AND SPEAKERS Leaning on our vibrant ecosystem and partnerships with university and community organizations, we hand-picked a cohort of professionals that we knew would maximize the success of our startup teams. Mentors, speakers, pitch coaches, and advisors were vetted based on expertise, experience, and connections to help founders accelerate their businesses. Throughout the program, they provided strategic and tactical guidance, identifying gaps in a team’s business knowledge and understanding, identifying obstacles, challenging hypotheses, serving as a sounding board for ideas. Founders engaged with nearly 80 experienced entrepreneurs, academic leaders, industry professionals, subject matter experts, venture capitalists, and other members of the Houston entrepreneurial community.
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Rakesh Agrawal
Roberto Hasbun
Lauren-Kristine Pryzant
Darwish Alkutefani
Sean Hill
Michael Raspino
Marty Baculi
Wendy Hoenig
Avinash Ravishankar
Matt Bell
Lavonne Hopkins
John Reale
Ed Blair
Melanie Jones
Bill Robertson
Bill Bobbora
Ken Jones
Grace Rodriguez
Caitlin Bolaños
Jim Kane
Eduardo Salas
Chris Church
Kazimir (Kaz) Karwowski
Jacob Setterbo
Andy Clark
Scott Key
Peggy Shaw
Jimmy Comerota
Thomas Kraft
Jay Steinfeld
Dave Cook
Keith Kreuer
Danielle Supkis Cheek
Bill Coxsey
Paul Kwiatkowski
Andrew Swick
Al Danto
Kyle LaMotta
Jordan Szymczyk
Alex de la Fuente
Lisa Martin
Anderson Ta
Kyle Dixon
Deborah Mansfield
Rakshak Talwar
Doug Erwin
Kelly McCormick
Robin Tooms
Michael Evans
Elise McCutcheon
Nicole Van Den Heuvel
Thomas Fields
Rob Austin McKee
Craig Vollert
Benjamin Flores
Roberto Moctezuma
Dan Watkins
Christopher Georgen
Gayle Moran
Wesley Watts
Aziz Gilani
Camille Nichols
Alexander Wesley
Bill Greisinger
Jon Nordby
Stephen Wilbur
Matthew Hager
Beth O’Sullivan
Greg Wright
Gray Hancock
Hesam Panahi
Adam Wulf
Iggy (Ryan) Harrison
Matthew Peña
Jacques Zaneveld
This was an incredible opportunity to learn and grow as an individual. The information OwlSpark provides regarding how to start a business venture goes beyond the obvious and encourages entrepreneurs to be honest about their product’s viability in the marketplace. TIFFANY SMITH Public Relations, University of Houston ‘86
BUILDING THE FOUNDATION As evidenced by our achievements throughout the first five years, OwlSpark provides value to students, faculty and the extended Rice University community. We are proud to serve as a catalyst for promoting entrepreneurship, to be a provider of enriched experiential learning opportunities, an educational resource for launching Rice startups, a portal for engaging mentors, investors, and alumni from the business community, and a beacon for external visibility and recognition by the media, the Houston community, and national and international ranking sources. OwlSpark does more than fill a demand for hands-on entrepreneurship experiences —it provides a roadmap for innovation and commercialization. As our students and faculty face a lifetime of technological advances, entrepreneurial opportunities, and personal challenges, their success will likely be determined by their ability to deploy the skills we emphasize—creativity, persistence, passion and resilience. The impact of OwlSpark isn’t just in the development of emerging business ventures, but in raising the aspirations of our students and faculty, and in building entrepreneurial capacity across the university. Your continued support of this vision and mission is invited.
DATES TO REMEMBER Startup Career Fair • February 9, 2018 www.startupcareerfairhtx.com The Qualifier for the Rice Business Plan Competition (previously Owl Open) • February 22, 2018 alliance.rice.edu H. Albert Napier Rice Launch Challenge • March 29, 2018 entrepreneurship.rice.edu/lilie/experiences/rice-launch-challenge OwlSpark Class 6 • May 21, 2018 – August 10, 2018 www.owlspark.com
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