IE undergrad team members Marek Davis and Henry Berkemeier, with Aarti Panda (Computer Science) and Bharat Agarwal (Krannert), won an honorable mention and cash prize for their automated frozen yogurt kiosk project, FroYo XPress. The 6th Annual Baylor New Venture Competition took place at Baylor University in Texas Feb. 23-25 and included two tracks: Internet and Consumer Technology Companies, and Non-Internet and Consumer Technology Companies. The on-campus event is a two-day business plan and speed pitch competition promoting student entrepreneurship. 

FroYo XPress brings the self-serve experience of frozen yogurt to high foot traffic locations currently inaccessible by traditional froyo shops, and allows consumers to personalize their treat with syrups and toppings right at the kiosk.

How did the team come up with the idea? "I walked downstairs to find that the Harrison Grille was closed and I could not get the small amount of Vitamin Water that I like to have as a study break," explained Davis. "I then thought that there could easily be an automated, self-service machine for that!" The team refined the idea to sell frozen yogurt instead of soda because it's healthier, but the concept would work with any self-serve product which could be sold without a cashier.

Davis said he learned a lot about presenting projects and about leading a team. "We also learned about 'net terms', for example, and other financials/startup concepts that we do not learn in school," he said.

The team's IE knowledge was key to the project: "We use our IE knowledge every day as we are pressured to efficiently fit so much into our busy days with school and this project," Davis stated. We also use time value concepts to produce metrics for our startup investment needs, which are concepts straight out of the IE 343 textbook!"

A big part of the competition's value is in making contacts and increasing the team's drive to succeed after being inspired by other student entrepreneurs. "The level of entrepreneurship that we were exposed to at Baylor was above and beyond anything we have been exposed to," said Davis.

"I am grateful for the opportunity that Purdue provides for a student like myself to turn an idea into a passion," concluded Davis. "The resources we have here are amazing. We are so proud to be a part of Purdue University. The teams and the faculty at Baylor were a tremendous help to our motivation and success as well."

It's not the first time FroYo XPress has won a student entrepreneurship competition. In February 2016, FroYo XPress won second place in the Black Division of  Purdue's Burton D. Morgan Business Plan Competition. FroYo XPress is also part of the Purdue Foundry, which exists to help Purdue students, faculty and local alumni move ideas to the marketplace more quickly.

Writer: DeEtte Starr, starrd@purdue.edu