Big Breakthroughs for V2’s Winning Entrepreneurs
It was a night of firsts and a time to seize the moment. An opportunity to share a business idea that started as a personal dream and, in exchange for hard work and countless revisions, a chance to receive a significant reward and important validation.
That was the scenario for eight student entrepreneur team finalists who presented their idea before expert angel investors and a live audience April 28 in the fifth annual Venture Vetting (V2) Pitch Competition at University of San Diego’s Joan B. Kroc Institute for Peace and Justice Theatre. A total of $100,000 was available — $50,000 in prize money for four University of San Diego teams and $50,000 in money and in-kind services for four binational teams.
While it was quite a night for everyone involved, the biggest financial winners were USD student businesses Tech Meets Trader, Folded Color and Lacy and binational companies Agrosol, Napanga and FXR.
“It’s huge”, said Warren Lorenz, a junior finance major in USD’s School of Business, who delivered a confident seven-minute pitch for Tech Meets Trader, a free social community for stocks and options investors, and, along with partner Al Frimpong, received the top award of $25,000.
“It allows us the capital to provide more resources, hire a developer to work alongside us,” Lorenz said. Self-promoted as “The Facebook of Stocks” and incorporated eight months ago, Lorenz said Tech Meets Trader being a V2 finalist and, in what was his first live pitch for the company, getting the end result was a significant step forward.
“We put a lot of time and effort into it. We knew being in V2 would be a great opportunity. V2 is a credential now and we can use that validation as a stepping stone.”