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Applico Teams Up with IBM to Promote Entrepreneurship with Teens

At Applico we aim to hire entrepreneurs and former founders/CEOs because we believe that entrepreneurial hustle is a skill that applies to a wide range of positions and skills. On March 8th, 2019, we took our entrepreneurial insights to the IBM P-Tech high school in Brooklyn to share what we know with the next generation of entrepreneurs.

Over the course of a 3-hour workshop, P-Tech students had the opportunity to learn from former tech founders and CEOs how to build and scale a business in a low-cost way. The workshop began with our CEO Alex Moazed who shared his entrepreneurial story, Applico’s history, and the theory behind our work. Head of Platform Nick Johnson then explained what a platform business model is, and how entrepreneurs can experiment with platform business models early on.

Drew Moffitt shares his experience as former CEO and founder of TailBus.

Drew Moffitt shares his experience as former CEO and founder of TailBus.

The introduction was followed by Director Drew Moffitt, former founder and CEO of TailBus, and Bradlay Pryde, former CEO of Huru, who discussed their experiences creating new ventures. Through candid discussion, they revealed what went well, what went wrong, and what affordable tools are available for entrepreneurs launching and testing a new business. In the process, they demystified the startup experience for P-tech students who may have their own entrepreneurial ideas, but need direction to get their ideas off the ground.

Other Applico staff joined the workshop as well to address the misconception that tech founders must know how to code, or must invest a lot of capital upfront into a new company.

Sam Wong helps a group of students develop their business idea.

Sam Hong helps a group of students develop their business idea.

Armed with this new knowledge, the students were then divided into four groups and asked to come up with a quick business proposal. Each group then presented their idea to the class as if they were pitching to investors. Fellow students and Applico staff played the role of venture capitalists and peppered each group with questions and ideas to strengthen the business. The students designed businesses that ranged from school-based vending machines, hip and edgy fashion lines, video game branded merchandise, and engineered pockets meant to protect wearers from overheating devices.

The mock “Shark Tank” game was a highlight of the workshop. Applico agreed to send a signed copy of Modern Monopolies to each student who wants one. As the workshop closed, staff and students exchanged emails and LinkedIn profiles to continue the mentoring relationship into the future.

P-Tech students pitch their business idea in a mock investor pitch.

P-Tech students pitch their business idea in a mock investor pitch.

About Applico

Applico empowers the community of industry leaders at large enterprises embrace digital and platform innovation to thrive in the digital era. By working alongside C-suites and boards as operating partners, Applico provides advisory services to build, execute and scale platform businesses to strengthen traditional companies’ core business. Applico’s staff is comprised of platform entrepreneurs, operators, bankers and designers.

Applico has worked with large enterprises for more than 10 years, and draws talent from the tech sector. Applico’s staff is comprised of former tech founders, platform entrepreneurs, bankers and designers.

About P-Tech

P-TECH is a public education reform model focused on college attainment and career readiness. P-TECH schools span grades 9-14 and enable students to earn both a high school diploma and a no-cost, two-year postsecondary degree in a STEM field. Students participate in a range of workplace experiences, including mentorship, worksite visits and paid internships. Upon graduation, students have the academic and professional skills required to either continue their education in a four-year postsecondary institution or enter into entry-level careers in IT, healthcare, advanced manufacturing and other competitive fields. While the P-TECH Model encompasses six years, students are able to move at their own pace, enabling some to accelerate through the model in as little as four years. P-TECH serves students from primarily underserved backgrounds, with no testing or grade requirements. P-TECH is a powerful demonstration of public-private partnership designed to help all students achieve at the highest levels.

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