The Entrepreneurship Initiative has put on the annual N.C . State eGames since 2009. This year, the games are changing with a $250,000 personal donation from Bob Young, founder of Red Hat and CEO of Lulu. It is the first large donation to support the eGames specifically.
The donation will be given over the next five years. The name of the event has been changed to the Lulu eGames to reflect the new sponsorship. Lulu will also be involved in judging the competition.
There are multiple challenges at the eGames , and students can work individually or in teams. The prizes equal up to $30,000.
A self-starter himself, Young is a strong supporter of entrepreneurial endeavors. He has a history with Tom Miller, senior vice provost for Academic Outreach and E ntrepreneurship , in starting up the Linux Expo and continues to participate in the University’s program.
“[Young] has known the work I’ve been doing ever since the early 90s , and he serves on my advisory board. He’s been very supportive and always willing to help out … I was absolutely thrilled when he said let’s get together,” Miller said.
Miller said he is excited about the prospects of being able to expand the eGames with the assurance the donation provides.
“We started brainstorming a lot of ideas, and one thing that we want to do is add more categories to the eGames so that students can compete in different areas,” Miller said.
A new category is being added to the games this year. To show support for the University’s new music entrepreneurship minor, there is an arts feasibility challenge.
“It’s more broad, the arts entrepreneurship. We have students who are less technically minded and [want to] give them an opportunity to get involved as well,” Miller said.
Italo Leiva , junior in psychology and founder of Leiva Strings, participated in 2010 and won in multiple categories. His company creates colored guitar strings that help make it easier to read sheet music and learn guitar.
“It gave me the tools I needed to go out and pitch my idea, the right way. I am forever thankful for that. It was a great experience,” Leiva said.
Leiva is now settling in and setting up his business for a future in Raleigh.
“We have secured the capital to make a significant purchase and are starting focus groups with the help of our advisers here in Raleigh to determine exactly how to market certain products. In addition to Mom & Pop guitar/music stores, we also have some large scale clients in the music education realm who would like to distribute our strings with their learning programs,” Leiva said.
Miller expressed his hopes that this sponsorship will work as an anchor to draw in more sponsors so they can continue to hold the eGames annually and create more success stories like Leiva’s . Other winners include Scott and Steve Klein’s Sound Around in 2010 and Jason Mueller’s MyFit.com in 2009.
“If there are individuals that want to come in and do a particular category that they’ll give a prize for, we’re open to that. I’d really like to grow these [categories] and grow the prizes as much as we can. I would like to grow it to $100,000, and that would get us on the map in terms of these business plan and innovation competitions” Miller said.
Miller said he is a strong believer in emphasizing entrepreneurship as a career option for students and hopes that the eGames and future endeavors will help the University stand out.
“This is one piece of the larger entrepreneurial ecosystem that we’re putting together here at N.C . State, and I want N.C . State to be known all across the nation as the place that you go if you want to be an innovator and entrepreneur,” Miller said.