Venture Fellows – Fordham Now

NYCEDC and Fordham Announce Third Class of NYC Venture Fellows

Janet Sassi — Mon, 25 Feb 2013 18:20:59 +0000

The New York City Economic Development Corporation (NYCEDC) and Fordham University on Jan. 31 announced the newest class of NYC Venture Fellows, an annual, year-long program to connect emerging entrepreneurs from around the world with mentors from leading companies, for the purpose of growing or expanding their businesses in New York.

Now in its third year, NYC Venture Fellows will begin on Feb. 25 with a series of meetings with leading New York City companies, followed by workshops, panel discussions, and cultural events. The 2013 class of Venture Fellows is comprised of 30 entrepreneurs selected from hundreds of nominees and applicants. Applicants hail from six countries and represent a diverse cross-section of industries–media and emerging tech, biotech, fashion, education, financial services, and real estate.

“The Venture Fellows program is a model for partnerships between universities, government, and private industry,” said Stephen Freedman, Ph.D., provost of the University and professor of ecology and evolutionary biology. “The exposure to current business needs benefits Fordham’s faculty and curriculum, and our intellectual capital is a terrific resource for the fellows and the firms involved in the program.”

Originally launched in December 2010, NYC Venture Fellows program is designed for entrepreneurs whose businesses are at a critical stage in development, where the companies have the potential to substantially increase their employment.

The 2013 class of Venture Fellows was selected by a committee of private and non-profit sector leaders, including Sir Martin Sorrell, CEO of WPP Group; Lawrence Lenihan, founder and managing director of FirstMark Capital; and Joseph M. McShane, S.J., president of Fordham.

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.

Fordham, Big Apple, Join Hands on Venture Fellows Program

Joanna Mercuri — Mon, 27 Feb 2012 17:01:46 +0000

Provost Stephen Freedman, Ph.D., welcomes the 2012 Venture Fellows at a Fordham ceremony.
Photo by Bruce Gilbert

A diverse and pioneering group gathered at the Lincoln Center campus on Feb. 8 as Fordham University and the New York City Economic Development Corporation (NYCEDC) jointly commissioned the Venture Fellows class of 2012.

Twenty-eight Fellows from 11 cities around the world assembled to launch the second installment of the yearlong entrepreneurial fellowship program.

Developed by NYCEDC and Fordham, Venture Fellows promotes emerging business leaders and encourages international entrepreneurs to start or expand their operations in New York City.

The program connects fellows with mentors who are investors, serial entrepreneurs, CEOS, and operational managers from New York City and abroad.

“In an age of increasing competition, we think it’s more important than ever for New York City to retain its edge,” said NYCEDC president Seth Pinsky. “And we believe very strongly that the key to success for our city is to harness the potential of what we refer to as our most valuable natural resource: our smart and talented workforce.”

The 2012 Venture Fellows hail from such fields as bio-med, software, e-commerce, light manufacturing, fashion and retail, and social ventures. Throughout the year, they will work with their mentors to develop key skills and strategies for their respective ventures.

“Having been an entrepreneur without much guidance along the way, I realized how helpful it would’ve been to have a mentor,” said mentor Robert Valdes-Rodriguez, FCRH ’86, a financial advisor for Alliance Bernstein. “I hope to help young, budding entrepreneurs and to serve as their guide.”

Additionally, fellows hope to gain networking opportunities from their mentors.

“I’d like to make introductions and contacts to potential business partners,” said Venture Fellow Christoph Sutter, co-founder and CEO of South Pole Carbon Asset Management, headquartered in Zurich. “I hope to be able to talk to people who know the local market and to take that into the decision of whether to open a branch here.”

The Venture Fellows initiative comes in response to the Bloomberg Administration’s overall efforts to encourage entrepreneurship in the city, and by extension, to create more jobs in the New York metropolitan area.

“The program is probably one of the most exciting ventures that we have been involved with over the years,” said Stephen Freedman, Ph.D., provost of the University and professor of ecology and evolutionary biology. “The international outreach that this program provides means a great deal to us.”

“These are really bright, talented individuals working to address major challenges that we’re all faced with,” said mentor John N. Tognino, PCS ’75, chairman and CEO of Pepper Financial Group, and chair of Fordham’s Board of Trustees.

“More importantly, it’s part of Fordham’s mantra of service to others . . . to help someone come up with a solution to overcome some of the problems the world is facing,” he said.

“Whether it is in healthcare, or water, or in economic business development, I think there’s endless opportunity.”

Venture Fellows Program Links Budding Entrepreneurs with Mentors

Gina Vergel — Tue, 07 Dec 2010 16:17:59 +0000

Fordham welcomed some of the world’s most innovative entrepreneurs to its Lincoln Center campus on Dec. 6 while helping to launch the inaugural cohort of New York City Venture Fellows.

NYC Venture Fellow Naveen Selvadurai is co-founder of Foursquare, a social networking site that, as of November 2010, reported it has 4.5 million registered users. Photo by Ken Levinson

A collaboration with the New York City Economic Development Corporation (NYCEDC), the yearlong program is designed to assist 23 “rising star” entrepreneurs by providing office space, key networking opportunities and mentors.

Among more than 50 mentors are investors, CEOs and serial entrepreneurs from world-class organizations such as Barclays, NBC Universal, Lord & Taylor, venture capital firms, universities and more.

Seth Pinsky, president of NYCEDC, said the program is a way to ensure New York City continues as the world’s business capital.

“We in the [Mayor Michael] Bloomberg administration have come to realize that it’s very important for us to foster the next generation of great businesses and industries here in New York City,” he said. “We also need to support businesses that have gotten off the ground and are looking to receive support at a new level.”

The group of fellows includes international digital media pioneers, nonprofit entrepreneurs and clean-tech innovators from countries including China, Germany and India. Leaders of fast-growing NYC-based ventures including Foursquare, Gilt Groupe and SecondMarket are in the group.

Stephen Freedman, Ph.D., provost of the University, welcomed the NYC Venture Fellows to Fordham. Photo by Ken Levinson

Stephen Freedman, Ph.D., provost of the University, said the collaboration with NYCEDC resulted from more than a year of planning.

“Fordham is the proudest partner in a relationship with the City of New York,” Freedman said. “Together we will work to develop the entrepreneurial talent and business expertise for a new generation of leadership from New York, the region, the country and the world.”

This was the first event for the inaugural class of 23 Venture Fellows, who, after networking and formal introductions, got to work with their mentors, discussing various topics dealing with innovation and creativity.

Following completion of the program, NYC Venture Fellows will remain engaged and connected through an alumni network.

Erick Beckman, who founded the New York International Children’s Film Festival and, more recently, GKIDS Inc., said he is excited about being a NYC Venture Fellow.

“I’ve met two of my mentors and know they’ll have a lot to offer,” said Beckman. GKIDS Inc., which uses digital and social media to distribute films to American families via multiple media platforms, is taking advantage of what he sees as a “market failure” in United States motion picture distribution.

“You have economies of scale that lead to $250 million films like Shrek, but those same economies of scale turn into diseconomies when you’re dealing with medium-sized films,” he said.

“GKIDS provides an alternative. By utilizing digital distribution, non-traditional marketing and 12 years of audience-based film programming expertise, we deliver American families an assortment of exciting, entertaining children’s films while sidestepping the huge costs that make Hollywood so risk-averse,” he said.

NYC Venture Fellows and mentors brainstorm at the launch event. Photo by Ken Levinson

So far, so good, Beckman said, as GKIDS turned a profit and snagged an unexpected Academy Award nomination for The Secret of Kells in the Best Animated Feature category—the only independent film nominated in a field of big studio productions.

“Now we’re looking for $3 to $4 million for the second quarter next year to expand,” Beckman said. “I’m excited to meet people [through NYC Venture Fellows]who invest in start-ups and entertainment companies. I’m hoping to share my thoughts and get their advice and, maybe, some partners.”

Joseph M. McShane, S.J., president of Fordham, served on the selection committee, which sifted through an array of nominees before choosing the inaugural cohort. Several members of the University’s Board of Trustees will serve as mentors.