No, you’re not imagining it! Nicole Campbell breaks down why rent is rising.
A summary of the recent Easter tragedy in Sri Lanka
“The bill’s most inflammatory provision would make it illegal for the IRS to create its own online tax filing system--something that big tax prep companies have lobbied against for years.”
By Aanika Patel, Class of 2020
Arjun Vellayappan (Booth ’20) is co-founder of Gumdrop, a lifestyle/wellness company with a myofascial massage tool that aims to help anyone manage muscular pain and stress on the go. The device is a tetrahedron with each point having a different sized radius to target various muscle groups. Arjun, however, isn’t an engineer or physical therapist and instead focuses on the financial operations of the business. The product design and inception can be traced to Phoebe Evans, Arjun’s co-founder and friend from undergrad at Northwestern. The two met through mutual friends in 2012 and stayed close even after graduating college.
Phoebe began developing the Gumdrop device as an Engineering and Design Innovation Project through her master’s thesis and received positive feedback from her advisors to commercialize the product. She was passionate about her project but wasn’t sure how to transition her product into a business. Arjun helped change that. On a trip to Thailand in 2017 with friends they decided to partner together and Gumdrop, the company, was formed. “I’ve always been interested in starting a business and understanding what it takes to make it successful. I hit a rut in consulting and wanted to put myself to the test in the entrepreneurship space,” Arjun described.
When they returned, Arjun and Phoebe hit the ground running. “We came in with low expectations and just cared about learning and hopefully breaking even,” Arjun says. They spent 2017 focused on the legal setup of their company, testing products, and materials, and beginning to build a small inventory for initial sales. They sold ~50 devices in 2017 and primarily focused on getting feedback on how to best improve the product and business.
Last year, they shifted towards scaling the business and finding a manufacturer for the product. Arjun and Phoebe ultimately settled on a small polyurethane manufacturer in Kalamazoo, MI that also provided product support and recommended switching to a more affordable material that would help drive down costs. With legal setup and manufacturing prepared, Gumdrop launched their first Kickstarter. The initial goal of the Kickstarter was $10,000 – the team hit that amount within a week and completed their Kickstarter with $15,000 in sales.
With the success of the Kickstarter, Arjun reached out to his Entrepreneurial Discovery professor Mike Tebbe for guidance on whether Gumdrop would be a viable option for New Venture Challenge (“NVC”). Professor Tebbe provided guidance and encouraged Arjun to enter the challenge and assuaged Arjun’s uncertainties about whether Gumdrop could benefit from NVC despite not being a technology-focused business. “Our plan is to use NVC to learn how to scale the business and to build a brand beyond one product,” Arjun indicated. With the addition of Saumit Sahi (Booth ’20), who was looking to translate the classroom knowledge from Professor Sanjay Dhar’s marketing strategy class to the real world, Arjun and the Gumdrop team are building out and flexing their current business strategy.
Arjun is especially excited about the advisory team with NVC. “We have some amazing advisors with female founders such as Andrea Sreshta from LuminAID and Erin Conroy from Phytchick,” says Arjun. The NVC alumni community have been instrumental in helping to expand Arjun and Phoebe’s vision for the company with Arjun citing the NVC community and advisor feedback from professors like Waverly Deutsch as highlights of the experience.
Gumdrop devices can be purchased for $26 plus shipping and handling from Gumdropmassage.com
Some things change, some stay the same. At ChiBus, we aim to please, but probably not in the same way as these young men to… mermaids?
Sometimes a story can get lost in a flood of news. Get a brief summary of the Mueller Report.
You know what NVC is, but what about SNVC? Nicole Campbell introduces an initiative that may help you finally get off your phone.
Technology alone cannot solve the problems we faces with widespread employee disengagement at work. However, it can help to alleviate otherwise intractable or expensive facets of these problems.
It is often said that there are two things that unite a country as diverse as India quickly and wholly – cricket and Pakistan. The cricket world cup starts in May, but the unification decided it couldn’t wait that long. A recent attack on Indian paramilitary forces by Pakistani militants that left 40 dead was one of the deadliest in decades and triggered swift, retaliatory measures from both countries.
After ethnic violence and protests broke out in the capital of Xinjiang in 2009, the Chinese government cracked down with a ‘strike hard and punish’ campaign aimed at rooting out dissidents.
The U.S. Chamber of Commerce Foundation is a nonprofit affiliate of the U.S. Chamber of Commerce. Since the mid-twentieth century, the Foundation has been dedicated to promoting the global competitiveness of American businesses by supporting programs that support corporate citizenship and public-private partnerships.
Nate Silver’s successful prognostications in 2008 and 2012, and his better-than-most performance in 2016 led to this question from the audience. But what is the secret of his success, and what can we learn from him?
Booth’s flagship entrepreneurship and venture focused event Seedcon, co-hosted by Polsky and the Entrepreneurship and Venture Capital Group at Booth inspired 200+ attendees with keynote speakers Eric Feng (General Partner KPCB, Founding CTO Flipboard & Hulu), Antonio Gracias (Founder, CEO and Chief Investment Officer, Valor Equity), and panels on blockchain, future of transport, AR and VR.
The new 67,000 square foot facility will house 56 commercial kitchens for lease, a shared kitchen for newer businesses, an open area for events, a coworking space, conference rooms, and the new headquarters for Accion, and Rick Bayless’s culinary training program for members of the community.
Aanika Patel (‘20) reports: On Election Day 2018, the State of Illinois elected Democratic venture capitalist and heir to Hyatt fortune, J.B. Pritzker as its next governor.
All of the “firsts” that were ushered in during this year’s midterm elections and why we should be celebrating them
Booth secured first place at the inaugural CREFC case competition in New York on October 25th
JBSA Co-Chair Jess Green weighs in on the recent tragedy in Pittsburgh.
Doris Kearns Goodwin has been contemplating leadership for a long time. On Wednesday, October 31, in a conversation moderated by David Axelrod and hosted by the Institute of Politics at Ida Noyes Hall, she spoke to a packed auditorium about some of the lessons she has learned.
On Friday, Nov. 2, Entertain2Educate employed engaging play acts, speeches, and networking to explore issues such as funding governance, donor intent, lending bias, and ethical impact investing.