It was a night full of celebration and unexpected turns as the Skandalaris Center presented The Washington University Innovation & Entrepreneurship Awards, honoring students, alumni, staff, and entrepreneurial community members for their contributions to the WashU ecosystem. As we gathered in Crowder Courtyard, the Skandalaris Center recognized graduating students, outstanding members of the entrepreneurial community, and awarded $125,000 in non-dilutive funding to WashU startups.
II Luscri, Managing Director of the Skandalaris Center and Assistant Vice Provost for Innovation & Entrepreneurship, welcomed the crowd and officially kicked off the evening by recognizing three graduating students who previously owned businesses on campus through the St. Louis Student Enterprise Program (StEP). Additionally, he recognized the thirty-four graduating students who earned Honors in Innovation and Entrepreneurship by showing exemplary involvement through a combination of curricular and co-curricular activities.
The excitement continued as Luscri announced the Skandy Awards. The initial award, honoring Excellence in Mentorship, applauded three mentors for their commitment to supporting entrepreneurial students and fostering meaningful change within the WashU and St. Louis communities: Jeff Cooper, Rebecca Wilson, and Sam Cabral.
Following that was the Excellence in Student Innovation and Entrepreneurship accolade, which recognized two students and one startup for their significant contributions to enhancing the entrepreneurship landscape at WashU. Congratulations to Helen Telahun, Buddy Foster, and Justused Tech founder Titobiloluwa Oreolorun.
Before announcing winners of the Skandalaris Venture Competition and the Global Impact Award, a tornado siren sounded requiring teams, judges, and attendees to relocate to the lower level of Anheuser-Busch Hall. Being the innovative, creative problem-solvers that we are, we decided that the show must go on!
“What a night this has turned out to be,” said Luscri, as he kicked off the award announcements. “Surely a night that none of us will forget anytime soon, but in the spirit of our entrepreneurial community here tonight, let’s dive right back into our program and recognize the incredible talent, hard work, and commitment of all the teams who participated in these two competitions.”
Earlier today, after months of working with the Skandalaris Center and mentors from the entrepreneurial community, the GIA and SVC finalists gave their final presentations to a panel of distinguished judges, who evaluated each team on their startup’s idea, target customers, value proposition, industry trends, a minimally viable product or service, financial modeling, traction, team, and overall presentation.
The winners of the Global Impact Award were selected based on the mission set forth by the generous donors of the award, Suren G. Dutia (BS ’53, AB ’67, MS ’67) and Jas K. Grewal, which prioritized scalable, sustainable, for-profit, and quick-to-market ventures with a proof of concept for a broad impact.
Two winners were chosen this year, with AirSeal Cardiovascular, LLC taking home $25,000. AirSeal develops and commercializes an innovative patented biomarker for the diagnosis and treatment of cardiovascular diseases. The venture has created a method that allows for rapid and accurate evaluation of cFAS levels in the blood and helps accurately diagnose Peripheral Arterial Disease (PAD). Stephen Wu (EMBA ’23), Mohamed Zayed (EMBA ’23)
Another GIA winner, ChiChi, took home $50,000 in non-dilutive funding, ChiChi is a chickpea-based breakfast that is healthy, delicious, and easy. Most on-the-go options lack protein and add tons of sugar and processed ingredients, but ChiChi is packed with protein while being grain and gluten-free. Their instant chickpea oatmeal is the first breakfast of its kind on the market. Chiara Munzi (LA ’23) and Izzy Gorton (BU ’25)
Through the generous support from Bob Skandalaris, Revathi Advaithi, and Jeevan Mulgund, as well as additional sponsors Fidelity Investments, Connie Fry, Dr. Morin Hanson, and Buddy Soubra, SVC winners were awarded a combined total of $50,000 to help fund their startup businesses.
As the Skandalaris Center team reviewed the impressive entries in this cycle of SVC, it was important to maintain a funding structure that could support as many teams and innovators as possible. For the Spring 2024 SVC cycle, the three levels of funding were updated to award in the finals. This structure allows the Skandalaris Center to provide capital for ventures at various stages in their development.
Innovator Funding ($3,000): This fund supports startups that the Skandalaris Center believes are showing promise and potential, providing initial funding to explore their concepts further. Two teams were awarded funding at this level: Portal and Mapable
Disruptor Funding (up to $7,500): This fund supports startups that are refining their product and enabling them to advance towards market readiness. Two teams received this funding: Phoenix and Sustain-a-Plate
Catalyst Funding (up to $10,000): This fund supports the launch of startups poised for growth and providing resources for the critical next steps in their development. Three teams received launch funding: Anode Free Sodium Batteries, InCase, and OvuMap
After the winners were announced, Beverly Wendland, Provost and Executive Vice Chancellor for Academic Affairs, took the floor with no podium or microphone in hand. She applauded the innovative end to the evening and shared a few closing remarks. The crowd intently listened to her as she pridefully congratulated the founders and teams who have participated throughout these competitions. “Whether or not you were an awardee tonight, you are an example of what we hope to encourage throughout our university community,” Wendland shared. “Creativity. Ingenuity. Convergence. And the confidence to try… and try… and try… until you get it right. So please, keep going!”
Applications for the next cycle of the Skandalaris Venture Competition will open in August 2024. All current WashU students and WashU alumni within one year of graduation with an early-stage venture or idea are encouraged to apply.
The 2025 Global Impact Award competition will open in November 2024. All current WashU students, postdoctoral researchers, and recent alumni within ten years of graduation who are creating ventures that are scalable, sustainable, for-profit, and quick-to-market with proof of concept for a broad impact are encouraged to apply.