After learning that their peers had great ideas for ventures but needed extra support, Embry-Riddle students Ludy Castro, Younkyung “Cleo” Cho and Anthony Matthews got the idea to help other students start businesses from the comfort of their own dorm room.
“Cauldron matches dreamers who have a great business idea and doers who have a technical talent together,” said co-founder Cho.
When complete, Cauldron will provide local resources like businesses and events to help student entrepreneurs add potential value and quality to their venture. In addition, Cauldron will help student entrepreneurs find mentors -- through school alumni relations and local resources -- and funds to help bring their venture to life. By paying a small subscription fee, students would have access to the platform that would help them grow their businesses.
Castro, who is earning his bachelor’s in Aeronautical Science, Cho who is earning her bachelor’s in Aeronautics, and Matthews, who is earning his bachelor’s in Human Factors, were participants in Embry-Riddle’s inaugural Test Flight Bootcamp, a four-week program led by Embry-Riddle’s Center for Entrepreneurship. Cauldron is currently in the development stages; the founders aim to launch the platform by the end of the year.
“The program provided us with mentors in different fields, and every week we presented our interview, research, and progress to them and mentors gave us feedback. I believe it was the starting point for Cauldron,” Cho said.
In the spring, Cauldron also participated in the Embry-Riddle Trep Expo, a venture competition hosted by the College of Business. This month the group presented Cauldron at 1 Million Cups Daytona Beach, a community forum for entrepreneurs.
“Cauldron will be the blueprint to build businesses,” Castro said. “The Test Flight Bootcamp provided us checklists and the thrust Cauldron needed to takeoff.”
Embry-Riddle Aeronautical University, the world’s largest, fully accredited university specializing in aviation and aerospace, is a nonprofit, independent institution offering more than 80 baccalaureate, master’s and Ph.D. degree programs in its colleges of Arts & Sciences, Aviation, Business, Engineering and Security & Intelligence. Embry-Riddle educates students at residential campuses in Daytona Beach, Fla., and Prescott, Ariz., through the Worldwide Campus with more than 125 locations in the United States, Europe, Asia and the Middle East, and through online programs. The university is a major research center, seeking solutions to real-world problems in partnership with the aerospace industry, other universities and government agencies. For more information, visit erau.edu, follow us on Twitter (@EmbryRiddle) and facebook.com/EmbryRiddleUniversity, and find expert videos at YouTube.com/EmbryRiddleUniv.