The 4 Startup Pitches at ‘Fund It’

By COLlive reporter

Young entrepreneurs had the chance to pitch their startups before seasoned businessmen and venture capitalists in another sign of entrepreneurial growth and innovation in Crown Heights.

Some 120 men and women gathered in United Lubavitcher Yeshiva’s hall for the event, Fund It, a project of Crown Heights Young Entrepreneurs (CHYE), directed by Rabbi Yehoshua Werde.

“We are making this event to generate opportunity in our community by giving participants the funds and guidance needed to succeed, create a forum for the public to hear the wisdom and insight of these investors, and advocate for entrepreneurship as a career path that our community can follow,” Werde said.

Team leaders from startups ParQ, Chabad CRM, TheGoodapp and Courseloads each had a chance to go over their pitch deck with investors David Schottenstein and Zalmi Duchman of Surfside Angels investment firm, Daniel Wolfson of equity firm OldSlip Group, Eli Nash of of JEG & Sons, Shmuel Gniwisch of online retailer Lionparts, and veteran angel investor John Ason.

Tensions ran high as the entrepreneurs rushed to share their ideas against the ticking clock. Schottenstein was impressed by this year’s offerings. “I had a chance to take part last year,” he said, “and I wanted a chance to return to help share some of my experience as a source of help and inspiration – and I’m glad I did,” Schottenstein continued. “This year, the pitches were above and beyond what we had previous seen in terms of originality and innovation.”

Pitch 1: ParQ

Presenter: Yehuda Kirsch, Crown Heights
Launch: January 2015
Description: An app to help people in urban cities with their parking. It tells you all the rules and regulations about the spot you would like to park at and sets reminders when you need to move your car, saving the driver much heartache.
The Ask: $200k for a 10% equity stake
Investors: John Ason Interested.

Pitch 2: TheGoodapp

Presenter: Menachem Lieder, Crown Heights
Launch: Currently in Beta
An app to ‘Pay it Forward’ with people challenging friends and co-workers to compete over doing good feeds, collecting points and getting rewards. Aims to create a chain reaction to build an ‘Empire of Good’.
The Ask: $150,000 for 10% stake.
Investors: Want to hear more and may invest in the future.

Pitch 3: Chabad CRM

Presenter: Leib Ezagui, Palm Beach FL
Launch: 2013
Software that give the tools of expensive CRM programs to small business owners at a fraction of the price. Empowering them to create a customer service model that rivals the experience that large business offer.
The Ask: $150,000 for 10% stake.
Investors: Shmuel Gniwisch would like to meet to hear more.

Pitch 4: Courseloads

Presenter: Zev Lapin, Teaneck, NJ
Launch: This fall
A website aimed at college campuses seeking to create a new delivery model to dormitories for essential services that are in high demand. Phase One focused on laundry services. As usage grows, they will include many other services such as snacks and school essentials
The Ask: $750,000 for a stake to be determined.
Investors: Schottenstein interested.

During a communal voting period, with votes coming in neck and neck, ultimately Chabad CRM, a customer relationship management tool proved to be the crowd favorite, scoring a $500 dollar cash prize for their business along with a bicycle sponsored by Brooklyn Bike Shop.

Founder Leib Ezagui credits “a thirst for hard work and success” as the motivating factor behind his startup’s growth. After finding out about Fund It on Facebook, he was able to hone his pitch for the big event.

His advice to future entrepreneurs, “Be aggressive and passionate about your idea. People, even investors, will tell you to change your product and friends and family might try to put your idea down. Listen and learn from everyone but if you feel strongly about something, stick to it.”

For more info, visit CHYE.info