Pictured from left to right: Allie Magyar, Paula Hayes, Jayden Simpson, Catarina Hunter, Chrys Hutchings, Matt Fox, Mitch Daugherty
January 2024
Melissa Freeman
Ideas for new companies come from people of all ages. Last week, I attended Winterim, an event produced by the mighty team at the Bates Center for Entrepreneurship and Leadership at Lewis & Clark College. Chrys Hutchings, Director, Catarina Hunter, Associate Director, and Mitch Daugherty, Entrepreneur in Residence, organize a week-long series of speakers, panels and educational sessions focused on entrepreneurship for undergraduate students who are interested in learning how to turn an idea into a market opportunity.
Approximately 30 students apply to participate in this intensive program during their winter break. This is especially noteworthy because Lewis & Clark College does not have a business school. These are students who come from all over to receive a world-class liberal arts education and they want to know how to use business as a tool to solve problems.
Teams of three are organized to identify a problem they want to solve, research the problem to understand the market opportunity and potential competitors, and then put together a business plan for their company. They work throughout the week, mornings and evenings, while gaining valuable insights from local entrepreneurs during the day, such as Allie Magyar, founder and exited CEO from Hubb, Junea Rocha, co-founder and CMO of Brazi Bites, and Marcelino Alvarez, CEO of Photon Marine. 10 teams competed for prize money, provided by generous sponsors, in front of several judges, including OVF partner Alline Akintore.
I was struck by the students’ engagement and passion for their ideas. I was inspired by their excitement to listen and learn, ask questions, and publicly admit they did not know something when unable to answer a judge’s question. The diversity in the room was also refreshing with young women and men representing cultures and places ranging from Swaziland to Walla Walla, WA.
The ideas were unique and a great reminder that undergraduate students see and experience problems they want to solve that are different from other age groups. They shared their frustration with chemistry goggles steaming up and parties always ending up 20 minutes in with people looking at their phones once there is a lull in the conversation. One team wanted to tackle the fentanyl overdose crisis by providing more Narcan at concert sites. You will have to connect with Catarina Hunter for more details about each business concept and to see if the teams want to continue to build a company, but at least one team will go on to compete in InventOR, the statewide competition among colleges and universities in Oregon led by Abigail Van Gelder at Portland State University.
Oregon Venture Fund is a sponsor of InventOR and works closely with the Bates Center to provide experiential learning opportunities in early stage investing for students throughout the year. Winterim caused me to reflect on the entrepreneurial ecosystem that has been built and maintained through strong relationships in Oregon and SW Washington. Entrepreneurs, connectors, angel and later-stage investors, partners at Business Oregon and with philanthropy, academic leaders within colleges and universities, private industry leaders, experienced mentors from diverse sectors and entrepreneur-supporting organizations are all part of the village that nurtures entrepreneurs of all ages who reach out with an idea and ask for help.
The undergrads showed up and had an excellent experience. It lasted one week and, perhaps for some, it will catalyze their efforts to start a company. For some, it may just be the week where they got to try on the idea of being an entrepreneur. But what I’m pretty sure they don’t realize is that it was a phenomenal experience because of the time and resources our village has invested over at least two decades to create the relationships and trust that were leveraged to make it that way. Thank you Chrys, Catarina and Mitch for organizing such an inspiring event for students and those of us in the village. It is rewarding to see the younger generation thinking and acting like entrepreneurs and I’m so curious to see which companies will breakout next. Onward!