Won $25,000 at Idea State U
LOUISVILLE, Ky. (July 13, 2017) — An Entrepreneurship MBA program team at the University of Louisville College of Business have created an app, MoveMe, that helps people find workout buddies. It works like a sports version of Match.com or eHarmony, matching people with others who share their schedule, interests and level of fitness.
“It’s not just pairing you with anyone,” said co-founder Eric Reskin. “It’s pairing you with the most compatible partner to help achieve your goals.”
Reskin and partner Andy Ortegon came up with the idea after surveying about 100 people around Louisville about pain points that might keep them from getting a good workout. They found that most people needed a buddy for accountability, but had trouble finding others who were compatible.
The team developed their product and business plan in the Entrepreneurship MBA program, which walks students through launching a startup step-by-step. They’re given guidance, legal services and practice pitching to investors.
“By the time many of our students graduate, they already have investors lined up, too,” said Dr. Van Clouse, chair of the Forcht Center for Entrepreneurship. “They know what investors look for, they know how to pitch to investors and they and they’re designing their businesses to enable them to raise money to support their dreams.”
Teams also compete for funding at competitions. MoveMe, for example, won Kentucky’s statewide 2016 Idea State U competition, and took home $25,000 to continue work on their app and company — which Reskin says they certainly plan to do.
“MoveMe started just as an academic thing, but we really fell in love with the idea,” he said. “And we tried day after day to find someone to tell us we’re idiots and we need to stop, but it hasn’t happened yet. So, we’re going to continue and now we get to really focus on the true development of the app and the business itself.”