INSIDE BINGHAMTON UNIVERSITY
Online exchange plan wins seed money in annual SOM contest
An online future and accessory exchange for college students, similar to eBay or Craigslist, took the $2,500 seed money prize in the May business-plan competition that is the culmination of the School of Management’s New Venture Creation class.
Taught by Angelo Mastrangelo, the class is a key component of the SOM’s entrepreneurial concentration.
CampusXchange, led by project developer Evona Niewiadomska, can receive another $2,500 if it is in business in Greater Binghamton 12 months after startup.
A second recognition was handed out for this year’s competition. “Our class is not a business-plan class, although it is the final project,” Mastrangelo said. “It is a new venture creation class which this year included an outstanding student and entrepreneur, Chris Olsen.”
Olsen was recognized for the best business plan for NuEra Mobility, a universal wheelchair with features unlike any other on the market. Mastrangelo said Olsen developed the wheelchair design as a senior in high school for a class project and has been working on it ever since.
The annual competition is judged by “real-life” venture capitalists, typically SOM alumni who are working on Wall Street as venture capitalists, along with local business owners and managers.