Georgetown University’s Newspaper of Record since 1920

The Hoya

Georgetown University’s Newspaper of Record since 1920

The Hoya

Georgetown University’s Newspaper of Record since 1920

The Hoya

Finalists Announced for Bark Tank Entrepreneurship Competition

For eight teams of undergraduate and graduate entrepreneurs, five minutes stands between them and a shot at $100,000 in cash prizes.

The groups are set to compete in “Bark Tank,” an annual entrepreneurship competition that provides cash prizes for undergraduate and graduate students looking to launch business ventures. Announced Oct. 21, this year’s eight finalists will compete Nov. 4 for the title, with the overall winner receiving $30,000.

Hannah Laibinis/The Hoya | The Bark Tank hopes to promote problem solving, community engagement and creativity by awarding young entrepreneurs with up to $30,000.

Bark Tank gives students the opportunity to solve problems that affect their communities, according to Jeffrey Reid, a Georgetown University professor and founder of the Georgetown Entrepreneurship Initiative, which oversees Bark Tank.

“The reality is entrepreneurs are solving problems and creating value in society, but sometimes there is a mistake in the belief that it’s all just about making money,” Reid said in a phone interview with The Hoya. “Our competitions really highlight the fact that these students and these companies, they’re trying to solve a problem that’s really meaningful to the world.”

The Georgetown Entrepreneurship Initiative first established Bark Tank in 2009 after Ted Leonsis (COL ’77), CEO of sports entertainment company Monumental Sports & Entertainment, created the Leonsis Family Entrepreneurship Prize, which directly funds the annual cash prizes to Bark Tank competitors.

The Leonsis Family Entrepreneurship Prize allows more Georgetown students to launch their own businesses, according to Reid.

“The fact we have so many great student entrepreneurs competing for this prize is a sign that our overall community is more and more engaged in entrepreneurial activities,” Reid said. “Georgetown should be one of the world’s best universities for entrepreneurship, and I think we’re quickly becoming that with Bark Tank becoming one of the biggest, high-profile events that really celebrates student entrepreneurs.”

In order to take part in the pitch competition, students must meet certain criteria, including specific rules around eligible business ventures. Prior to the competition, members of the Georgetown community nominate candidates to compete. Nominated candidates are then required to complete a written application, which is reviewed by an internal committee that ultimately selects finalists for the pitch competition.

Once selected as finalists, groups are given three weeks to create a final three-minute presentation with the help of mentors from the Georgetown Entrepreneurship Initiative. After giving the final presentation, the group undergoes a five-minute question-and-answer section before a judging panel ultimately names the winner and allocates cash prizes to finalists.

The 2021 Bark Tank finalists include Bibti, a mobile application that provides women with travel buddies; Joylet, an online baby gear renter; Chow Corp, a company helping veteran families find careers using food trucks; and Bellavant, a wedding platform matching couples with qualified vendors.

The group of finalists also includes DAIGON, a server that fosters friendly competition and hosts training games for video game users; Map-Collective Inc., a carbon-tracking and supply chain transparency platform; STAFM Technologies, an innovative axial flux electric motor; and Compost’d LLC, an in-home compost initiative.

The competition has brought together great student entrepreneurs to present innovative and unique ideas within the wider community, according to Rory Brogan (MBA ’22) of STAFM Technologies.

“In terms of looking at the whole scope of the competition, I think it’s an incredible group of people. I am very, very honored to have been included in it — very humbled by that. And I’m excited to see what everyone else is thinking, what they come up with, and think it will be a great competition,” Brogan said in a phone interview with The Hoya. 

Participating in Bark Tank has also provided competitors with valuable mentorship opportunities from the Georgetown Entrepreneurship Initiative, according to Elliot Mack (SFS ’22), founder of DAIGON.

“We wouldn’t be where we are today without our co-founder or the university,” Mack said in a phone interview with The Hoya. “The entrepreneurial ecosystem here at Georgetown has been great. The Summer Launch Incubator helped us take this project from an idea to a reality.” 

Ultimately, the Georgetown Entrepreneurship Initiative hopes to continue to expand the impact of Bark Tank in the future, according to Reid.

“It seems to be growing bigger every year in terms of excitement around it. We hope to keep this going for a long time,” Reid said.

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