Socially minded ventures took the top prizes in this year’s Pitch George Competition, an annual contest open to George Washington University students who want to present business ideas.
“Their commitment to practicing and refining their pitches culminated in well-deserved success,” said Jessica Vodilka, project manager at GW School of Business Center For Entrepreneurial Excellence (CFEE).
The competition takes place each fall semester and allows young entrepreneurs from any GW school to present their business ideas, get valuable feedback on the viability of their business concepts and win cash prizes in startup capital. The competition, and a smaller version in the spring semesters, offers a real-world view into entrepreneurship and hands-on preparation for the New Venture Competition (NVC).
Recovery Connections, a digital healthcare platform for those struggling with substance abuse disorder (SUD), won first place, which came with a cash prize of $2,500. Krystl Haerian, who is in the final year of the MBA program at GW after earning master’s degrees at Johns Hopkins and Columbia universities as well as a medical doctor degree from the University of Maryland, was motivated by her desire to help others like her brother, who died of opioid overdose at 20. The venture brings together her professional background in medicine, informatics and artificial intelligence.
Haerian is taking Recovery Connections forward to the GW NVC, which is open to applications through Jan. 28, 2024. She’s also pursuing other funding sources and has been accepted into the GW I-Corps and Lean Startup program, funded by the National Science Foundation.
“There were a few GW MBA courses that helped me with starting Recovery Connections and with preparing for Pitch George,” Haerian said. “Entrepreneurship with Dr. Ayman El Tarabishy and professor Linda Acholonu gave me introspection on what it takes to be a founder. We looked at case studies exploring the characteristics of the founders of large corporations and had to identify and interview a successful entrepreneur. I think you can learn a great deal by example, and it was helpful to see how others have been able to excel in creating and starting their own companies.
“My plan is to keep putting in the work to move this forward,” Haerian said.
Digital media company HUE Media won second place, with a cash prize of $1,500. Nanako Kondo, Keja Ferguson, Laura S. Lopez-Vilanova and Reagan Heth are the undergraduate students behind the venture, which is “dedicated to the desensationalization and depolarization of media,” Kondo said. She’s had the idea since high school for a “production company that creates content centralized around human connection and empathy.”
Pitch George’s value goes beyond an arena to test startup ideas. It also helps students bring out positive qualities in themselves that they didn’t know existed.
“I didn’t think I could be a team leader at the beginning of this,” said Kondo. “I think I was like, ‘I don’t know if I’m confident enough to be a leader, or if I have the traits that coincide with what a leader would look like.’ But through this entire journey, I discovered that if I do my due diligence and work hard enough and have a group of really cooperative and supporting people around me, I can do it.”
Two ventures tied for third place, each receiving a cash prize of $1,000: BeerTein and Credit Catalyst.
Undergraduate student Ethan Levy is the brains behind BeerTein, a company that crafts protein-packed beers for those who want to imbibe while staying fit.
“I thought about how there was no drink that was good for us and let us have fun while out,” Levy said. “When I brought up the idea to friends, they asked if it was real and suggested that if it was, they would buy this product. I’m 19, so I used friends who are legal-age drinkers to help with quality and taste.”
Levy researched how to balance nutrition and taste for his beer. He was an athlete in high school, and he took a class on the biology of nutrition at GW to add to his knowledge. He experimented with different types of beer and protein sources to get the flavor of beer without the taste of protein.
“Pitch George was an amazing experience,” Levy said. “I noticed such an improvement from the first round to the final round. At first, I was nervous and struggled to show confidence. After the first round, though, I really shone and gave confident answers to the judges’ questions.
“It also just showed how education can be fun,” he added. “This was something that will change the rest of my life. I would not have even considered a career in entrepreneurship if it weren’t for Pitch George.”
Levy is refining his business plan to prepare for the New Venture Competition.
Fellow third-place winner, Credit Catalyst, aims to empower college students with financial education and the ability to invest via an app. Noam Ellinger, Anh Huynh, Bea Hylton, Sofia Bertini and Talia Fain are the undergraduate team members behind this venture.
“Our platform acts as a comprehensive financial education hub,” said Ellinger. “We provide customized roadmaps for users to navigate their financial goals successfully. By utilizing the cash-back feature from existing credit cards and generating compound growth, Credit Catalyst empowers users to make the most of their finances without falling victim to predatory practices. We prioritize transparency, education, and user empowerment to safeguard young adults from potential pitfalls.”
The Credit Catalyst team continues to develop the app and seeks to establish partnerships and secure funding.
Pitch George’s popularity is on the rise, said Kathy Korman Frey, managing director of CFEE. “The entrepreneurial ecosystem at GW is robust and growing, and more students are throwing their hats in the ring,” she said.
