Purchase College Hosts Third Annual Startup Pitching Competition

On Wednesday, December 4, Purchase College, SUNY and its partner Ethos took a page from reality television when they presented their own Startup Pitching Competition, modeled on the popular ABC show Shark Tank. Now in its third year, the competition gave students the opportunity to pitch their business ideas to entrepreneurs and investors.

The contest is part of the Startup Purchase program, which was initiated and underwritten by the Dr. E. Lawrence Deckinger Family Foundation and its Executive Director, Nancy Deckinger and spearheaded by Assistant Professor of Economics Liya Palagashvili. The contest is the culmination of a popular course entitled “Entrepreneurship and Finance: Turning Ideas into Startups,” which was taught by Professor Palagashvili and Vadim Revzin, an entrepreneur-in-residence with Ethos.

The judges and audience determined the winners who received a grant of up to $6,000 for their business pursuits.

This year’s grand prize went to sophomores Andres Hernandez- Rodriguez (a liberal arts studies major from New City, New York) and Brian Farez (an undeclared major from East Hampton, New York) for their on-site mobile car washing and detailing service company, Tri-State Mobile Wash. The duo was awarded $5,000 for their idea.

Second place went to seniors Nyla Lawlor (a communications major from Manhattan, New York) and Finbar Stuart (an economics and journalism major from Woodstock, New York) for SPABOX, a monthly subscription service offering curated organic and luxurious bath products. The project received $1,000.

“It’s so incredible that our Purchase students can have this opportunity to take the entrepreneurship course and to have the resources, mentorship, and seed capital to bring their ideas into fruition,” said Assistant Professor Palagashvili.

Andres Hernandez-Rodriguez said, “I’m happy that the Purchase faculty supports upcoming entrepreneurs. I’m thankful we won, but more importantly I’m thankful for all the support we have received along the way, from our peers and our school. We look forward to spending the money wisely and watching our company grow in the process.”

Ms. Deckinger hopes her donations help start many new businesses. She said, “I want to be a catalyst for students starting their professional lives.”

The “sharks” were a diverse group of entrepreneurs who provided invaluable feedback after each student presentation. Among them were:

• Tricia Brouk, Executive Producer at Speakers Who Dare and TedX Speaker
• Jeff Dachis, Founder and CEO, One Drop; former Chairman, CEO, Razorfish, and 1988 alum of Purchase College
• Andreas Messis, Co-founder transFORM Home, and 1994 alum of Purchase College
• Sacred Walker, CEO & Founder, Kuumba Health Institute

The winners of the first year’s competition were economics majors Maxwell Pearce ’18 and Derick Ansah ’17 who founded Flynance, a startup organization that helps young athletes navigate the complex world of collegiate and professional sports while learning basic pocketbook economics. Pearce, who was senior captain of the men’s basketball team at Purchase, is now playing professionally with the Harlem Globetrotters.

Last year’s grand prize went to economics and arts management seniors Angela Galli and Kelly Hayes for their Receipt to Recipe pitch, which is a mobile application designed to decrease global food waste and overuse of resources. The app will take a photo of a grocery store receipt and generate recipes from the internet based on the selected items and individual customer profile preferences.

About Startup Purchase

The Startup Purchase program offers courses, mentors, resources, and funding opportunities for student entrepreneurs.

Through Startup Purchase, the college has been partnering with Ethos (formerly GenFKD), a non-profit designed to increase young Americans’ understanding of financial literacy, entrepreneurship, and the skills necessary for careers in the new economy. “Entrepreneurship and Finance: Turning Ideas into Startups” focuses on entrepreneurship and career-readiness through an intensive curriculum developed by Ethos that included storytelling, networking, data analysis, budgeting and finance, pitching, leadership, negotiation strategies, taxes, and regulation.

“Entrepreneurship Course Level II: Executing Your Own Business Plan” helps students bring their ideas to life through executing their business plans. The course, which features curriculum developed by Ethos, is co-taught by Vadim Revzin and Liya Palagashvili.

About the Dr. E. Lawrence Deckinger Family Foundation

Since 2011, the Foundation has established a number of programs in both Journalism and Economics. First, the Foundation launched the only undergraduate Investigative Reporting course in the entire SUNY system. Thanks to the Foundation’s continued generosity, this class has become a mainstay of the Journalism Program. The Foundation has increased and expanded its support to include, among other things, the establishment of the Journalism Internship Fund, the Journalism Story Contest, and the Economics Essay Contest, and special guest speakers.

About Purchase College, SUNY

Purchase College, part of the State University of New York (SUNY) network of 64 universities and colleges, was founded in 1967 by Governor Nelson Rockefeller. His aspiration for Purchase was to create a dynamic campus that combined conservatory training in the visual and performing arts with programs in the liberal arts and sciences, in order to inspire an appreciation for both intellectual and artistic talents in all students. Today, Purchase College, SUNY is a community of students, faculty, and friends where open-minded engagement with the creative process leads to a lifetime of intellectual growth and professional opportunity. For more information about the College, visit www.purchase.edu.