Florida Atlantic: Sharks at Florida Atlantic

More than 100 aspiring entrepreneurs from Florida Atlantic University’s business ecosystem submitted entries to the first-of-its-kind pitch competition at a university: the chance for 15 minutes in front of the sharks from the ABC hit show “Shark Tank” in the hopes of winning funding for their ventures.

Only seven went on to be semi-finalists before the final four were chosen to present to Kevin O’Leary, venture capitalist; Daymond John, founder of FUBU apparel; and Robert Herjavec, cyber-tech giant; as part of CrocTank, a partnership event between Florida Atlantic’s College of Business Executive Education programs and Noble Capital Markets.

The final four contestants hailed from the Adams Center for Entrepreneurship, The Runway, formerly Tech Runway, and the Research Park at Florida Atlantic:

• Andria Beal, Ph.D., owner of EpiPaws, a genetic testing company that allows owners to learn the age of their animals
• Tim Sperry with Carbon Limit/ CaptureCrete, a product added to concrete that reduces CO2 pollution
• Kaustubh Kale with Hemotag, a non- invasive heart health monitor
• Hannah Herbst ’20, alumna of the College of Business, with AutoTQ, an automated tourniquet to stop blood loss

“This was a once-in-a-lifetime opportunity for our entrepreneurs. This wasn’t just them pitching to the Florida Atlantic University ecosystem,” said Jessica Beaver, associate director of The Runway. “They were going before a nationally known organization that works extensively within the investment community.”

RESULTS

In “Mr. Wonderful candor,” O’Leary said that the competing companies exceeded his expectations, a moment that only further showcased the strength of the candidates. Beal walked away with an offer of $250,000 from O’Leary for her venture, EpiPaws. Kale also landed a deal but declined the offer due to the terms.

CROCTANK CREATION

The CrocTank event was born out of the idea to provide a platform showcasing the talents of local entrepreneurs while connecting them with high-level investors who could either offer them funding or invaluable feedback and exposure.

It started with finding high-quality startups in Florida Atlantic’s community for the headline event for the 20th NobleCon, an investor conference hosted by Noble Capital Markets. The 2023 conference featured former U.S. President George W. Bush as the keynote speaker, setting a new standard for future impactful events.

Creating the next generation of leading entrepreneurs is a point of pride at Florida Atlantic. Students, faculty and the community find support and mentorship to realize their entrepreneurial dreams, complementing the continued explosion of start-up activity in South Florida.

The College of Business is ranked No. 10 in the world for entrepreneurship research in the Texas Christian University Global University Research Productivity report. Its faculty members teach future business owners in the classroom, while the Adams Center for Entrepreneurship engages students and the community through student business pitch competitions, bootcamp programs (including one in Spanish and one for veterans), initiatives for family businesses, and a co-sponsored national podcast featuring interviews with local business leaders.

The Runway, a start-up incubator and accelerator program, is a next step in the journey for student entrepreneurs. Once graduated, they can apply to join other local and regional startups to participate in the Venture Class Program, now in its 15th cohort. With a legacy of more than 185 companies to date, Venture Class participants receive more than $100,000 in resources and services, including introductions to sources of capital and mentorship to help launch their startups or expand existing businesses.

The Research Park, now in its 40th year, is a leader in technology-based economic development in South Florida, providing a landing pad for newly launched tech companies and research-based organizations.

“This first-of-its-kind business event was exceptional, and we are proud of the innovation demonstrated in our FAU community’s pitches,” said Daniel Gropper, Ph.D., dean of the College of Business. “It is a demonstration of the strength of our entrepreneurial ecosystem at Florida Atlantic, where we are all working to support our people in the pursuit of their individual versions of the American dream.”

Those who didn’t walk away with a deal still benefitted from the extensive one-on-one guidance they received for their businesses and fundraising efforts, according to Kevin Cox, Ph.D., director of the Adams Center.

“It was endless hours spent revising their pitches, their model and what they needed to do to attract investors,” Cox said. “To run a successful program on the leading edge of supporting startups, we need to be innovative and entrepreneurial ourselves, continuing to evolve and improve. There’s no better way to support our startups than to get them in front of some of the most notable investors in the world.”