Recapping the 2018 Startup Factory Network Reception
ISU Startup Factory President Bill Adamowski addresses attendees at the Startup Factory Network Reception on January 12, 2018 at Iowa State's Hansen Agricultural Student Learning Center in Ames.
AMES, Iowa -- The ISU Startup Factory brought together mentors, investors and members from all participating cohorts since the program's inception, honored past cohort members, graduated Cohort 2, and introduced the newest members during the 2018 Startup Factory Network Kickoff Reception, held January 12 in Ames.
The reception capped off a day and a half of kickoff events that began with startups from the incoming Cohort 4 and the five "node" sites diving into the first module of the formal curriculum: the Business Model Academy, with introductory lessons in customer discovery and investor presentations.
A new addition to the kickoff programming was a Startup Pitch Off, where select companies from previous and current cohorts presented their company to a panel of judges in an interactive pitch competition between cohort teams. Judges, acting as “investors” were seeded with virtual cash funds to allocate to a single company or split among multiple companies that “wowed” them. The startups vied for $1,000 and $500 prizes awarded to the top two companies that raised the most virtual investment funds.
Startup Factory Recognition and Awards
The Startup Factory recognized a number of individuals for their significant contributions to the Startup Factory program and cohort members. Recognized were: Dan Oh, Tony Spuzello, Mark White, Steve Bell, Brian Farrell, and Kevin Maher.
In a special recognition, Dave Furbush was honored with the inaugural "Dave Furbush Award.” The award will be presented annually to recognize an individual who exemplifies extraordinary entrepreneurial spirit and has demonstrated outstanding service to the program.
"Dave has given hundreds of hours as a teaching team member, member, and angel-investor for numerous companies in the Startup Factory program," SUF President Bill Adamowski said. "Dave was truly an early adopter of our program, and brings a great deal of business expertise, true passion and tireless support and service. We can think of no one better for which to name this award and bestow it upon."
Furbush, now retired, was founder and vice president of Midwest Project Partners, Inc., an Aureon Company.
Other prestigious awards presented were for the Two Comma Achievement, bestowed to companies who have raised over $1,000,000 in venture financing. Recognized were: Structurely, founded by Andrew Dickelman and Nate Joens, SAFI-Tech, founded by Ian Tevis and Martin Thuo, Gross-Wen Technologies, founded by Martin Gross, Zhiyou Wen and Darren Jarboe and SmartAg, founded by Colin Hurd.
Rounding out the evening was the presentation for the Startup Pitch Off award. In a stiff competition, Ideopak Founding Partner Nathan Davis earned first place and the $1,000 prize, and Hurd Health Group Founder Dillon Hurd and Head of Development Ethan Marti earned second place and the $500 prize.
