UMBC Students Shine at the ABCEI’s 2024 Cangialosi Business Innovation Competition (CBIC).
The Alex. Brown Center for Entrepreneurship and Innovation (ABCEI) at UMBC hosted its annual Cangialosi Business Innovation Competition (CBIC) Finale. Established in 2014 through a generous gift from Greg Cangialosi ‘96, the CBIC aims to inspire and cultivate UMBC’s most promising student entrepreneurs – those with a vision to launch their own businesses or social ventures.
This year’s competition featured eight finalist teams, a mixture of undergraduate and graduate students representing various UMBC majors. The ABCEI offered two tracks for participation: Technology & Innovation and Social Impact. Each team presented their ideas to a captivated audience of students, faculty, community members, and a distinguished panel of judges. The 2024 panel comprised industry experts: Jason Paluck (Enterprise Architect, UMBC), Mike Ravenscroft (Managing Director, Maryland Momentum Fund), and Tasha Vanzie (Chief Strategy & Operations Officer, Agile Care Enterprise).
Following team presentations, the judges engaged them in a Q&A session to gain deeper insights into each idea. After careful deliberation and thoroughly examining the merits of each idea, they selected the winners in both tracks. The Alex. Brown Center for Entrepreneurship and Innovation would like to recognize the winning ideas below:
- Technology & Innovation Track:
- 1st Place ($3,000): Sphere-Hub (Hamza Umar & Anurag Varshney) – This platform tackles the challenges international students face in finding compatible roommates and affordable housing near campus. Sphere-Hub prioritizes quality matches based on cultural background, habits, and lifestyle preferences, creating a secure and trusted environment for students.
- 2nd Place ($2,000): SBudget (Aishwarya T Harikrishnan) – SBudget simplifies financial management for small businesses, offering a user-friendly platform to monitor cash flow and eliminate the need for juggling multiple applications. This innovative tool can help businesses overcome a significant hurdle in their early stages.
- 3rd Place ($1,000): Chesapeake Stays LLC: Airbnb Property Management (Thomas Morey) – Capitalizing on the booming short-term rental market, Chesapeake Stays leverages technology and industry expertise to maximize revenue for property owners on platforms like Airbnb and VRBO.
- 4th Place ($500): Pivot Point (Kidus Sebsibe) – Recognizing the challenges faced by gig workers, Pivot Point offers a comprehensive approach to career transitions and financial well-being, helping them navigate the often-volatile gig economy.
- Social Impact Track:
- 1st Place ($3,000): Hairpreneurs (Gbemisola Akinjo) – Hairpreneurs empowers Baltimore residents, particularly women and men facing economic hardship, by providing a cohort-style course in hairdressing. This program fosters a sense of community while equipping participants with a valuable skill that can lead to new opportunities.
- 2nd Place ($2,000): Khammunity (Mary Rose Khamfong) – Khammunity promotes sustainability and economic empowerment within Baltimore’s Lao American community by encouraging the sale of secondhand items. This initiative provides culturally tailored support and resources while fostering environmental responsibility.
- 3rd Place ($1,000): The Greenhouse (Hailey Clifford) – The Greenhouse addresses the need for a convenient and affordable food source for UMBC’s residential students, particularly on weekends when campus options are limited. This student-focused café would foster community and combat feelings of isolation among those living on campus.
- 4th Place ($500): Grown Deliveries (Elie Fraiji) – Grown Deliveries connects local farms with consumers seeking fresh, high-quality food. This user-friendly online platform simplifies the process for both producers and customers, promoting sustainable and humane food practices.
The ABCEI congratulates all the CBIC finalists for their dedication and innovative ideas. These innovative ideas have the potential to make a significant impact on the world and the competition exemplifies the entrepreneurial spirit thriving at UMBC.
Here’s what some of the finalists had to say about the experience:
“What an exhilarating experience! I was truly humbled to be selected as a finalist and even more to be chosen as 1st place. The CBIC has to be the best event at UMBC for aspiring entrepreneurs to present their business pitch – it was a great learning experience and it was quite competitive. It also serves as a great opportunity for us to get feedback from successful individuals in the industry, who have shown us that dreams can be fulfilled. I feel lucky to have been a part of this event and see only great things ahead!” -Hamza Umar
“I encourage anyone who has an entrepreneurial idea to enter this contest. This was my first time acting on a business idea that I have had for a long time, and I am extremely glad that I did. Between the final event, mentorship, and chance at winning generous prizes, the CBIC is a once in a lifetime opportunity. It is also one of the best ways to connect with the UMBC entrepreneurship community.” -Elie Fraiji
“I am so grateful to have been able to participate in this competition. The Alex Bown center and the CBIC really do foster a space for innovative minds and I am beyond appreciative of that. The mentors and people that I reached out to during this competition really showed up and showed out for me. Everything I learned during this process offered such a different perspective of the world around me and I can honestly say that I had SO much fun the night of the competition.” -Gbemisola Akinjo
“From the moment I was selected by the Alex. Brown Center to participate in the CBIC, I was given all the resources to push me towards success. After weeks of meticulous preparation under the invaluable guidance of my mentors, I discovered a passion for entrepreneurship. There were many stages – refining the concept, incorporating feedback, and building my skills – that served as a catalyst for what my pitch became. It wasn’t just a competition; it was a transformative journey where setbacks became lessons and I became a better person at the end of it.” -Hailey Clifford
“Participating in CBIC was an incredibly fulfilling experience. The competition provided me with the opportunity to refine my pitching skills, showcase my entrepreneurial endeavor, and receive support for my uplifting holistic well-being journey. I got to uplift myself by taking on the mic which in turn uplifts those around me. This event marked a significant milestone in my journey towards turning my dreams into reality as I am one step closer. I am grateful for the financial support and social encouragement I am receiving. I am excited to continue pursuing my goals with newfound confidence and inspiration to make my mark better on this world and make this place better than I found it.” -Mary Rose Khamfong
“So, you’re keen on starting your own business? What skills do you already have that can help? What skills do you still need to work on? Experience can be tricky to gain, but that’s where CBIC comes in, along with our ‘pivot point’ to guide you on your journey. CBIC is your best bet on campus for entrepreneurship. Apply and get involved as much as you can!” -Kidus Sebsibe