The Lutrinae celebrates Startup Challenge’s 10th anniversary

Startup Challenge Finale logo

Startup Challenge 10th anniversary invite

By Yollette Merritt

Excerpt

Startup Challenge Monterey Bay – created at California State University, Monterey Bay (CSUMB) under the leadership of Brad Barbeau, the executive director of the Institute for Innovation and Economic Development (iiED) and associate professor of entrepreneurship in the College of Business – will celebrate its 10th anniversary at the Embassy Suites Hotel in Seaside on Friday, May 10 from 2 to 7:30 p.m.

Each ticket holder will receive 100,000 Otter Dollars to use in investing in an “Otter Tank” company of choice. CSUMB students who contact the iiED have preferential entry. The May 10 schedule is as follows: 2 p.m. – Venture Showcase Opens; 3 p.m. – Otter Tank Competition; 6:30 p.m. – Networking

“There are quite a few CSUMB students entered in the Challenge,” stated Barbeau, “although only one has made it to the finals. Several of the student businesses are planning to launch.” Many do not realize that the BUS 410: New Venture Design course – which incorporates the Challenge as part of the curriculum – is open to non-business students and has no prerequisites.

The iiED, housed in the College of Business, is the entrepreneurial hub of the region, organizing events such as the Startup Challenge “to promote entrepreneurship in the Monterey Bay Region and foster the development of a vibrant entrepreneurship ecosystem in the region,” stated Barbeau.

Over the past decade of its history, more than 600 companies have participated and more than $300,000 has been awarded. More than 150 jobs have been created by 2,200 aspiring entrepreneurs who have raised more than $10 million in capital.

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