Event fosters student’s entrepreneurial spirit and tests abilities with real life challenge
The Entrepreneurship Society at the University of Guelph hosted an event on Saturday, March 22 entitled CollabNow: Breaking Barriers. Facilitated at Innovation Guelph, a hub for start-up businesses and entrepreneurs, the event brought students from multiple academic backgrounds together to start thinking seriously about entrepreneurial ventures.
Lauren Bernardo, president of the Entrepreneurship Society, says the event’s title – “Breaking Barriers” – hints at the most important takeaway from the day: getting aspiring entrepreneurs from all colleges to collaborate to make things happen.
“The focus was to start working toward our goal of collaboration and showing attendees that there are students across our very own campus that they can work with to start their own business,” said Bernardo.
The speakers at the event included Synthesis founder Rob Hannam, and the principal and lead coach at The Achievement Centre, Carly O`Brien.
Hannam kicked off the day speaking to students about his own experience starting and running Synthesis, a consulting company that provides farmers with strategic planning, training, and marketing communications services. His approach to his business is utilitarian in nature, and his employees share both the risks and rewards.
Hannam highlighted the fact that companies can collaborate to create mutually beneficial business models for each other, like a greenhouse that uses another company’s excess ethanol to heat its operation.
Above all, Hannam stressed that you cannot do everything yourself when starting up a venture or creating an idea. Collaborations and partnerships allow you to reach beyond what you can achieve on your own. He also encouraged students to start sooner rather than later when it comes to launching their own venture and added that he wished he had begun his business earlier.
Carly O’brien discussed pit falls and tips for young entrepreneurs. Her talk motivated students to take on adventure and leave their comfort zones throughout their careers. She cited her own decision to leave a well-paying job with a good pension to pursue an entrepreneurial venture.
O’Briens tips also reminded students to leave their egos behind and be weary of self-obsession. The market owes you nothing and entrepreneurs must always be thinking of what’s in it for the customer.
O’Brien’s final words of advice encouraged students to pay attention to time, money and energy in their life. If there is purpose in your job, then these will find a natural harmony.
The afternoon also involved a mini case competition. Students from commerce, engineering and agriculture backgrounds were put into groups and tasked with identifying an entrepreneurial opportunity resulting from the City of Guelph’s rapid projected population growth. With $500 on the line – and with City of Guelph Clerk Clair Labelle, Professor Dan Gillis and Professor Elliot Currie adjudicating the competition – teams scrambled to come up with a creative idea in the one hour of allowed time.
The teams then had four minutes to present their solution. Ideas included a green roof policy for the city and initiatives to encourage and improve Go Transit usage. Ultimately, though, the winning idea involved a large-scale recycling program that would turn commercial and hospital waste into new objects.