THE 2024 CBIC FINALE!
The ABCEI’s 2024 Cangialosi Business Innovation Competition (CBIC) Finale
On Thursday, April 11th, 2024, 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.
Congratulations to all of the 2024 winners! Here’s what some of the finalists had to say about the experience:
Here’s what some of the finalists had to say about the experience:
- Gbemisola Akinjo – “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.”
- Hamza Umar – “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!”
- Elie Fraiji – “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.”
- Hailey Clifford – “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.”
- Mary Rose Khamfong – “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.”
- Kidus Sebsibe – “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!”
Thank you to all of our sponsors Greg Cangialosi, bwtech@UMBC and the University System of Maryland, as well as our judges: Jason Paluck, Mike Ravenscroft, and Tasha Vanzie! Congratulations to all of our student teams! Thank you to everyone who joined the ABCEI for this incredible night of community and good ideas!
Quotes from Past CBIC Winners
Gbemisola Akinjo – Hairpreneurs (2024)
“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.”
Hamza Umar – Sphere-Hub (2024)
“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!”
Saurabh Chapagain – BetterU (2023)
“Participating in the CBIC has been one of the most pivotal experiences in my life. I encourage every student with entrepreneurial ambitions to apply!”
Gabriel Laracuente- Amron (2023)
“The CBIC truly was an unforgettable experience. It was very competitive yet had a welcoming environment. I am extremely grateful for not only the funding, but also the experience of pitching a company to such professional judges. If you are on the ropes about joining this competition, I HIGHLY recommend it. The amount you learn from going through the process of this competition will, without doubt, help you in the future.”
Anurag Varshney – Fly Easy (2023)
‘”Dreams do become a reality” and the CBIC competition is a great platform to make your dreams come true. I received mentorship from industry experts and encouragement from the ABCEI team. Do you have an idea? Don’t wait, register for the CBIC! Mark my words, this will be among your best life experiences.”
Tamara Buchanan- Plus One Technology (2022)
“The CBIC was an amazing experience that helped to prepare me for my first startup pitch. The mentor I was matched with was phenomenal! His kind and nurturing demeanor helped remove a few fears I had as a new entrepreneur. The pitch competition was great and meeting the founder, Greg Cangialosi, was the icing on the cake. If you have a business idea apply for CBIC, you won’t regret being a paticipant!!”
Basil Udo- Xeddy (2022)
“Getting the opportunity to pitch at the Cangialosi Business Innovation Competition has given me an experience I will never forget. There are a ton of amazing ideas currently at UMBC that would immensely benefit from the great resources provided by the Alex Brown Center for Entrepreneurship. To those resources and the wonderful individuals behind them, I am forever grateful for the boost in confidence and capital that has gone towards fueling my venture, Xeddy.”
Kayla Massey – Pennies for Pointe (2022)
“My experience during the entire process was nothing short of amazing! Going through the process of preparing a pitch made me examine my idea on another level and ask myself questions about my business that I may not have given a lot of thought to before. It’s one thing to know what you want to do in your head, but another having to articulate your ideas and plans in hopes of convincing people of how important they are. Being assigned a mentor to work with helped tremendously. Receiving feedback and ideas, and being asked challenging questions by my mentor helped clarify some aspects of my business model. In addition to being supported by my mentor, I felt very supported by the faculty and staff in the entrepreneurship department. Having the opportunity to network the night of the event was also beneficial. I made some great connections that night and look forward to seeing how these relationships grow in the future.”
Balaji Viswanathan- Invento (2021)
“The CBIC competition organized by UMBC’s Alex. Brown Center for Entrepreneurship is a great platform for startups to get discovered by investors. We participated in the competition, were paired with a key advisor and won 1st place in the Technology and Innovation track. We are also getting investor connections. I thank the organizers for such a wonderful initiative. “
Mariah Qureshi- codeHER (2021)
“CBIC was an enriching experience that I’d recommend for every UMBC student that is entrepreneurship oriented. I’m grateful for the immense help provided by the competition mentors and coordinators, and I’m thankful for the smooth transition despite COVID-19. I learned of several different ways I could engage in furthering my own social venture, and have had many professional and personal takeaways from this experience!”
Nikolas Sicilia – GreaterPlate (2020)
“When COVID-19 began to affect the academic semester, one of the first things I was upset about was its effect on the CBIC. I had been looking forward to the CBIC since I got to UMBC, and thought for sure that it was going to get cancelled. I was extremely pleased with how UMBC’s Alex. Brown Center pivoted and gave us all an experience that was beyond our expectations given the conditions!”
Noha Darwish – Madina Girl (2020)
“The CBIC Competition was very transformative for my business, I learned a lot about myself and my business. It was a great opportunity for many reasons but one of the most important is because of my mentor who gave me so much support and guidance. The competition was demanding and challenging in the best way and because of it, my business is a lot stronger, as am I.”
Akshay Pershave- Karotene (2019)
“The competition and mentorship immensely helped distill Karotene’s value proposition and concretize our business plan. The feedback and visibility Karotene received is of great value as we progress towards our MVP. The ideas pitched at the CBIC also gave a glimpse of the thriving startup and innovation culture at UMBC.”
Michael Ogunsanya- CEO of MindStand Technologies (2019)
“The CBIC allowed us to showcase our budding student startup for Baltimore’s finest entrepreneurs! Their advice, mentorship, and network will benefit MindStand Technologies for years to come.”
Dan Lee (2019)
“CBIC really pushed us to create a killer pitch deck, which we can now use for future opportunities.”
Mustafa Al-Adhami (2018)
“The Alex Brown Center and CBIC have supported my venture for over a year now. I am so grateful to have been able to use the resources they offer to develop my business idea, and I am excited to get to work on the next stage of development with their support.”
Miranda Marvel (2018)
“The CBIC has been a great experience! The advice from my mentor helped me to significantly hone my business pitch, and having the encouragement and support from the UMBC entrepreneurship community has given me the confidence and ability to take my business to the next step and start developing a prototype.”
Chris Bodan- Aye-Aye (2017)
“Participating in the CBIC was a life changing experience. In just over a month, we took an idea and transformed it into a full business proposition. The CBIC isn’t just a contest. The guidance, advice, and resources you are given along the way are invaluable. The CBIC is an opportunity for students to take a “what if” and turn it into something extraordinary.”
Filip Dabek- Supply Sense (2016)
“Going through the Cangiolosi Business Innovation Competition (CBIC), UMBC allowed me to go through the process of formulating a business plan and prototype product, from which I learned a great deal and received excellent strategic mentorship from CBIC affiliated faculty. Through the knowledge that I gained from being a CBIC participant, I am now going to take my SupplySense idea to market.”
Annah Seo – PiVot (2015)
“The CBIC was a great opportunity to showcase my creatvity and get feedback on presenting in front of investors.”
Michael Gardner – Neighborhood Net (2015)
“Amazing. I learned so much about entrepreneurship, pitching an idea, and networking. These lessons I will carry with me for the rest of my life – through both entreprenuerial endeavors and building myself professionally.”
Patrick Wheltle – Baltimore Emergency Medical Technology (2015)
“The experience with CBIC was one of the most memorable things about my college career. It was really challenging and engaging and gave me experience that I could take with me to the real world.”
Markus Proctor – EduPal (2014)
“I consider the CBIC the highlight of my undergraduate experience. The phrase ‘unlock your future’ definitely rings true for me since I credit almost every opportunity in front of me now to the CBIC.”