Rutgers Business Plan competition awards $50,000 in funding to teams of student and alumni entrepreneurs

Brothers who started off Cyndrom win leading prize, approach to use winnings to develop action sports activities attire company

NEWARK, N.J., May well 2, 2022 /PRNewswire/ — Brothers Andrew and Joe Strafaci, partners guiding the Cyndrom brand of relaxed use, received the $20,000 leading prize in the once-a-year small business strategy competitiveness at Rutgers Business enterprise Faculty.

Individuals in the 2022 Business Prepare Competitiveness at Rutgers Enterprise Faculty provided Rutgers alumni as effectively as recent Rutgers undergraduates and MBA learners.

Andrew Strafaci, who concluded a dual MBA and legislation degree at Rutgers in 2020, established the Cyndrom name and emblem while he was an undergrad learning civil engineering at College or university of New Jersey. The organization now generates about $20,000 in yearly income, fueled by profits of its “Journey On” line of hats, hoodies, and beanies common among skate boarders, snowboarders, and cyclists across the region.

The brothers had been one particular of five groups that competed at Rutgers Enterprise College on April 22 for some of the $50,000 prize income supplied by the Sales Government Club of Northern New Jersey Basis.

Citing the shut opposition, the decide opted to spread the prize cash among all the individuals, awarding a $15,000 2nd prize to MBA learners Jason Miller and Matthew McQueeny, co-founders of Big League Pillows and $10,000 to a team of Rutgers undergraduates, such as Anna Zhang and Iris Zhorov, who are building the Clever MS3 system to enable sufferers make improvements to the success of their bodily therapy.

The judges awarded $2,500 to Rutgers MBA college student Kathryn Ruhno, whose early-stage start out-up Uncooked Paw Everyday living sells doggy foods and treats and a further $2,500 to Andrew Zambrowski, an alumnus of the Rutgers Business University undergraduate method who pitched for Monkey Small business. The company offers little organizations an application to assistance them contend far more efficiently from set up brand names.

Every of the groups built brief pitches, describing their nascent firms, highlights of their method and the company’s performance, and projections for long run growth.

The Revenue Govt Club of Northern New Jersey Basis sponsors the small business program levels of competition every year as a way of encouraging the entrepreneurial ambitions of Rutgers Business enterprise University learners and alumni. The competition is also just one of the aspects of a broad ecosystem at Rutgers that fuels its toughness in entrepreneurship.

More than the previous 20 several years, Richard Romano, president of the basis and a member of Rutgers Enterprise School’s board of advisors, has assisted make a lot more than $1 million in funding offered to college student and alumni founders.

“The business prepare opposition is sizeable in a pair of strategies,” claimed Professor Doug Brownstone, who organizes the competitiveness. “College student business people are capable to gain cash to get their corporations accelerated and the top rated five teams also get mentoring.”

“These are comprehensive-time learners or alumni who have work opportunities, and they are also functioning on starting up up businesses so it is really very useful,” he explained.

The competitiveness has awarded funding to these Rutgers student-started out providers as Playa Bowls, Emma’s Top quality Solutions, Bibi Drinks, the Turf, Surf and Earth cafe, Great Lifestyle Nourishment and the Zwiren Title Company.

Like previous winners, Andrew Strafaci intends to use the prize income to expand his organization.

Strafaci, who grew up skateboarding together the Jersey Shore, explained the funding from the competitors will allow for him and his brother to broaden Cyndrom from a casual garments line to an energetic dress in brand that gives more technical sports activities equipment like rash guards for surfers and gloves for snowboarders.

“The money will be a catalyst for rising Cyndrom,” Strafaci stated. “The income also suggests Rutgers thinks in me. Getting that assist is vital since it is really these kinds of a terrific university.”

Cyndrom now sells its items in a Belmar surf shop and a Redbank skate shop, and it also tends to make gross sales from its internet site and pop-up retailers at the Jersey Shore. In addition to escalating its collection of apparel, Stafaci reported he strategies to use the prize funds to improve internet marketing. His goal is to boost gross sales to $1 million by 2025.

In addition to Romano, the judges for the 2022 levels of competition incorporated John Wilson, who also represents the Gross sales Executive Club of Northern New Jersey Basis Sharon Lydon, Rutgers Business enterprise School’s affiliate dean of alumni and corporate engagement and Carolyn Lange, chief fiscal officer of the Neighborhood Basis of New Jersey.

Mayuresh Pandit, a Rutgers MBA alumnus and senior item manager at Amazon, assisted Professor Brownstone in mentoring the students. He also helped to choose the teams.

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Source Rutgers Organization University-Newark and New Brunswick

Maria Flores

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