Being both a participant and a leader, I have been on both sides, learning more throughout every step along the way. I have been able to understand what it takes to be a great participant, and I have now seen what it takes to lead a fantastic Start-Up Challenge. Considering the Start-Up Challenge is, to me, one of the best resources campus has to offer, I will try my best to consolidate the lessons I have learned into just a few.
Lesson #1: Listen to all advice
Now when I say listen, I don’t mean pivot your company based on what a judge or two has told you. While you may be inexperienced, you have the passion to drive your company in the direction you see fit. That being said, getting a fresh, outside perspective from a respected, experienced alumni judge can help open up new avenues for you and get you thinking. Don’t just listen, but take all advice into consideration, think about it, and make a smart decision about how you can best improve your company not just for the Start-Up Challenge, but for good.
Lesson #2: Take advantage of judges
Beyond the advice they give, judges often offer to meet or set-up a phone call. While seeing advice on an Excel spreadsheet is great, really seeing the emotion each of our 500 judges puts in to their comments and understanding the background of why they suggest what they do is essential. I have met with judges who work in Durham, connected with people back home in New York, and Skyped with alumni in California and Switzerland. In addition to receiving advice, connecting with fellow Blue Devils is an amazing way to expand your network and get to know more magnificent people.
Lesson #3: The Start-Up Challenge offers numerous resources
When I first signed up for the Start-Up Challenge, I saw the $50,000 Grand Prize and my eyes lit up, as that was my end goal and my only goal. However, after 2 years as a participant and one as the co-President, I have learned that the Start-Up Challenge is a platform to raise funding as much as it is to develop an idea into a true business. With judging, help finding co-founders, funding assistance, and more, the Start-Up Challenge may have an end goal of big funding, but in reality, it is a platform that will foster ideas and create real businesses.
Lesson #4: Duke students are freaking amazing
By participating on both sides, I have viewed, spoken with, and admired students of all different ages from all different schools with all different ideas. Despite these differences, the Duke University student body burns with passion to make positive changes in this world, to advance some aspect of the world, be it business, medical, tech, or the numerous other fields we have interest in. Every single year for the past 3 years, I have been absolutely wowed by about 100 student submissions and about 50 alumni submissions. I must say, Duke is a great place, and its students are truly amazing.
To consolidate the lessons from the Start-Up Challenge into just 4 is difficult, as there are so many more. This Wednesday, February 19th at HCA Auditorium in Fuqua, we will be having our Demo Day, showcasing about 30 teams who will have the opportunity to pitch, win prize money, and show off to hopefully raise more money for the Summer Innovation Program. Their campaigns can be found at http://www.indiegogo.com/partners/duke and you can sign up for Demo Day at http://www.eventbrite.com/e/demo-day-for-the-15th-annual-duke-start-up-challenge-tickets-9465713203. We hope to see you there!
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