August 28, 2013 Category: Business Formation & Planning
Most people in college are planning to start their career after they graduate. However, many student entrepreneurs at Western Michigan University (WMU) are savvy enough to begin their new business es while they are still enrolled in college. One avenue available to WMU students is Starting Gate, which is a new program designed to help students jump start new business ideas.
One 22-year-old student recently utilized Starting Gate to start his idea for a new smart phone app while also earning his degree in finance and commercial law. The app company had originally planned to launch a few months later than it actually did, however Starting Gate encouraged the student entrepreneur to speed up the process. The student entrepreneur credited Starting Gate with helping him to better understand email campaigns and customer validation. Xcheapskate, an app designed to help locals find the best deal for food by tracking food item menus of surrounding restaurants, was launched in May.
FindersKeepers is another app for smartphones which utilized Starting Gate to help speed up its business launch. The company was started by a WMU student majoring in management and economics. The app is designed to utilize personality data to assist users on planning vacations and day trips.
It can be exciting for college students in Michigan to begin their new business ideas before they even graduate. This will give them a head start on their path to rewarding careers. However, in order to make sure their new companies operate smoothly, they will need good business plans to guide their growth. The business plans should also take into consideration the applicable rules and regulations to ensure the company is operating in compliance with the law.
Source: M Live, Young entrepreneurs at Western Michigan University launch food-finding app through startup accelerator , Ursula Zerilli, Aug. 23, 2013