All successful businesses start with an idea. But many great ideas run the risk of never being heard. Even with a fantastic idea and enough recognition, without proper funding, they also run the risk of never making it out of the "idea phase."
The Hatching started out like many of these businesses, as an idea; an idea to encourage other ideas, help showcase entrepreneurs, hear their ideas and give them the funds they needed to get off the ground.
While there were already yearly events in the Capital region celebrating entrepreneurs, Ken Szymusiak, Jeff Smith, Paul Jacques, and Tom Stewart thought it was time to get more frequent entrepreneur activity in the area. They brainstormed, took a page from their peers, transitioned from a yearly event to a monthly, rebranded and The Hatching was born. With their respective companies sponsoring the first few months, LEAP, Spartan Innovations, and the NEO Center, The Hatching hit the ground running. "The room was full from the first event," says Ken, "Which signifies we came up with a great concept."
The Hatching
The concept is relatively simple: businesses that are still in the "idea phase" (they cannot be a formed LLC or established business) gather at Beggar's Banquet in East Lansing and pitch their ideas in front of a crowd and a panel of judges. The winner is awarded $1,000 and other resources to help their business grow and be successful, including legal help from Loomis Law and office space at the Hatch.
With its unique location, The Hatching stands out from other events because of its informal, laid back atmosphere. Holding it in Beggar's helps it stand out and keeps it from being just another formal event. "People are already interested in going to happy hour," says Ken, "So when you give them the opportunity to do that and network, it just works." The atmosphere also invites audience participation and regular attendees with the regulars cheering and hollering for their favorite ideas. "We try to make it as fun as possible," says Ken.
"We wanted to make it two-fold," says Paul Jaques of Spartan Innovations, "It’s not only about the winner, but also about community." And the event has reached the community. The Hatching has almost outgrown their room in Beggar’s, with 60-80 people attending each month. "We’re starting to see people we’ve never seen before," says Paul, "which is great." From CEO's, to students, to seasoned business owners, the Hatching is attracting the attention of all corners of the community.
In fact, The Hatching couldn't be successful without the community or the sponsors they need to keep it going. The money they get from the sponsors goes straight to the winners then goes back into the community by helping to build that business. Past sponsors have included; LEAP, Spartan Innovations, the NEO Center, MSU FCU, Michigan Creative, Signing Savvy, MSU E-Net and Commonwealth Enterprises. With 2013 successfully completed, they are looking for sponsors for the 2014 season.
Launched
By December, there were six winners: Chaible, Eightfold Marketing, Folyo, Poochie Bowl, What's Mapnin', and High Brau Solar Brewing. All the winners continue to be active and engaged with either LEAP, Spartan Innovations, NEO Center or a combination of the three. And, out of 24 companies that competed, many have continued on; which is exactly what they hoped for. "We need to continue to cultivate and create a new culture of entrepreneurship," says Ken, "get the people in the community thinking about it. The Hatching is great for that."
On December 12, 2013 the winners gathered at the Eli and Edyth Broad Art Museum for Launched, a yearly celebration of entrepreneurs which just successfully completed its sixth year. Each business again got the opportunity to pitch their idea for the chance at an even bigger prize. In the end, Charlotte Master, a sophomore at MSU, and her company What's Mapnin' took home $10,000 dollars.
Besides the grand prize winner, voting took place for an audience favorite. The audience voted through a texting system and the winner of a gift card to Biggby was Eightfold Marketing.
What's Mapnin'
What's Mapnin' is the perfect example of what The Hatching wants to achieve through its winners. According to Paul Jaques, "The ideal for these businesses is to create an entity, grab a space, hire people and grow." Charlotte is doing just that with What's Mapnin'.
The online, retro map that offers interactive ways to view your favorite Lansing businesses is planning to expand, and the $10,000 dollars will help her do that. What's Mapnin' can now begin to include other cities, hire people in those cities, and also add What's Apnin. What's Apnin will not only be a map, but a game, says Charlotte. "People can compete against their friends, and get points and coupons. The businesses will then be able to get customers from check ins and the coupons the customers have won."
The grand prize also included a one year membership to the Lansing Regional Chamber of Commerce which Charlotte says will help her attend events and meet new people that will be able to help her grow her business. The Hatching also helped her get the word out about her business and she says getting media attention is something she would have really struggled with if it hadn’t been for the event. Charlotte is also very grateful for the help of the Loomis Law Firm whom, after The Hatching, helped her establish her LLC and helped her learn about the different kinds of corporations and legalities she would have to worry about in the future.
"Even the things I didn't know I would be getting have really helped me grow my business."
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Allison Monroe is a freelance writer for Capital Gains.
Photos ©
Dave Trumpie
Dave Trumpie is the managing photographer for Capital Gains. He is a freelance photographer and owner of
Trumpie Photography.