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Entrepreneurship News

May 10, 2013

The 2013 Lang Fund Investments

The 2013 Lang Fund Investments


The Eugene M. Lang Entrepreneurial Initiative Fund, now in its 17th year of supporting student ventures, announced seed capital investments totaling $175,000 in four student ventures.

The ventures provide aid across diverse industries:

BlocPower
markets a portfolio of low cost renewable and energy efficiency products to property owners in domestic underserved communities. Donnel Baird ’13

BUZZtheBar
is a free ordering app that increases efficiency within the hospitality industry to create a world with no lines for customers. Richard Liang ’13

Plenishable turns recipes into groceries by providing eCommerce infrastructure linking recipe content & grocery services. Jeff Freedman ’13

Travefy
solves the coordination headaches of group travel. David Chait ’13

“It's an incredible honor to receive an investment from the Lang Fund and a privilege to join a community of startups that have received Lang investment, including giant successes like Recyclebank, founded by my mentor Professor Ron Gonen ’04,” said BlocPower founder, Donnel Baird ’13. “It is moving to receive the endorsement and vote of confidence from Columbia and be associated with Eugene Lang ’40, and what he stands for as the founder of the I Have a Dream Foundation, focused on economic opportunity in the same American inner cities that BlocPower targets. We are thrilled,” he added.

The investments were chosen from 23 venture proposals submitted by students and presented at the annual Columbia Entrepreneurs Showcase earlier in May. A panel of judges evaluated each of the plans, providing feedback and recommendations to the Lang Fund Board.

In order to provide more access to seed funding in a venture’s early stages, the Lang Fund Board makes an immediate initial investment, typically in the amount of $25,000-50,000, in the form of a convertible demand note in ventures that meet its investment criteria. This criteria requires that ventures have a viable business plan with good chances of success and a full time commitment by the graduating student to the business as its owner or prime mover. The Fund retains the right to make an additional equity investment in the business when the business raises its first round of equity backed by professional investors.

Richard Liang ’13 shared what the investment means to his company. “The Lang Fund's investment in BUZZtheBar gives us the seed capital to deploy our service into numerous NYC venues, and provide ongoing marketing support, he said.  “The investment also marks a significant milestone for BUZZtheBar as we emerge from the Greenhouse program with the tools to build a sustainable business.”

About the Lang Fund
Established in 1996 with a $1 million gift from Eugene M. Lang, MS ’40, the Eugene M. Lang Entrepreneurial Initiative Fund fosters an entrepreneurial environment at Columbia Business School by providing early stage investing opportunities to qualifying student business initiatives. It also allows the School to share in the success of funded ventures through negotiated equity or other participation.
 

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Spring 2015 Events

January 12-16, 2015

Lean LaunchPad Block Week Class
9:00-5:30PM

January 13, 2015

"The New Strategy for Corporate Innovation and
Entrepreneurship in the 21st Century"
6:00-9:00PM
Columbia Startup Lab-WeWork, 69 Charlton Street

February 22, 2015

Columbia Startup Lab-Summer
Applications Due By 11:59PM  - Apply Now

February 24, 2015

Lang Center-Summer Fellowship Program
Info Session
12:30-2:00PM, Uris Hall 333

February 25-March 6, 2015

Columbia Startup Lab-Summer
Interviews
12:30-2:00PM

February 26, 2015

Entrepreneur in Residence Workshop - Derek Lee '08
12:30-2:00PM, Uris Hall 333

February 27, 2015

Columbia Shark Tank Competition
Led by the CEO
12:30-5:00PM, Uris Hall 141

March 5, 2015

Entrepreneur in Residence Workshop - Austin Okere
"From Cradle to Listing in an Emerging Economy"
12:30-2:00PM, Uris Hall 331

March 8, 2015

Columbia Startup Lab - WeWork
Applications Due By 11:59PM - Apply Now

March 13, 2015

Columbia Startup Lab - Summer
Admission Decisions

March 19, 2015

Entrepreneur in Residence Workshop - Asha Saxena
"Big Data"
12:30-2:00PM, Uris Hall 142

March 23-31, 2015

Columbia Startup Lab - WeWork
Interviews

March 26, 2015

Entrepreneur in Residence Workshop - Barbara Roberts
12:30-2:00PM, Uris Hall 307

April 3, 2015

Columbia Startup Lab - WeWork
Deliberations, Alumni Center, 302 Kluge Room

April 5, 2015

Spring Venture Showcase
Applications Due By 11:59PM

April 6, 2015

Columbia Startup Lab - WeWork
Decisions Announced

April 6, 2015

Summer Fellowship Program
Applications Due By 11:59PM - Apply Now

April 9, 2015

David Rose ' 83 Investor Pitch Workshop
12:30-2:00PM, Uris Hall 331

April 16, 2015

Entrepreneur in Residence Workshop - Kevin Quinn '91
"Spring Training for Entrepreneurs: Avoiding Unforced Errors"
12:30-2:00PM, Warren Hall 209

April 20, 2015

Spring Venture Showcase
6:00-9:00PM, Columbia Startup Lab-WeWork SoHo West, 69 Charlton Street

April 22, 2015

Inaugural Lang Advisory Board Dinner
6:30-8:30PM - Location TBD

April 23, 2015

NY TechDay
10:00-5:30PM, Pier 92

April 23-24, 2015

#Startup Columbia Festival

April 24, 2015

Summer Fellowship Program
Selected Students Announced

April 27, 2015

Entrepreneurial Greenhouse Program
Annual Alumni Reception
6:30-9:00PM

May 5, 2015

Lang Fund Board Meeting

May 5, 2015

Innovation and Entrepreneurship at Columbia
Demo Event
6:30-9:00PM, Morgan Stanley

May 20, 2015

Columbia University Commencement

 

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