The Launchpad@Stevens program was formally founded in 2016 by Dr. Mukund Iyengar to create an environment for young entrepreneurs to flourish. As a professor in the Electrical and Computer Engineering department, Dr. Iyengar turned down offers from Google, Facebook, and Cisco to mentor and collaborate with Stevens students who were determined to build ideas of their own. While Launchpad prizes students who are “creative spirits, underdogs, and fighters”, student initiatives have created value exceeding $50 million.
Launchpad’s first project was undertaken by Kevin Barresi in 2014, who sought to create a web browser that allowed for easy sharing and organization of web content. Barresi’s inspiration culminated in the creation of iUbble, a browser that would allow users to share and send content between one another as message bubbles rather than copy and pasted links. iUbble was later acquired by FinTech Studios, an AI-based analytics platform for Wall Street, for $5 million in 2016.
From the experience of working with Barresi on iUbble from conception to acquisition, Iyengar realized he had the opportunity to share what he learned with others in the Stevens community. Launchpad was then formally founded to identify students who truly have what it takes to bring an idea from conception to completion for the betterment of society. Launchpad typically has over 120 applicants interested in the program, of which over 60 attend courses and retreats. From there, approximately 30 students may create usable solutions before 20 students are selected for Launchpad. According to Iyengar, while Launchpad has always been “extremely selective”, an applicant’s major, grades, work experience, or skills do not factor into consideration for acceptance at all. Rather, a student’s tenacity and discipline to bring an idea to fruition is the most important factor when deciding a student’s suitability for Launchpad. According to Iyengar, Launchpad is interested in students “who want to work on a problem for the next ten years” and have “the single minded determination of an athlete.”
Another entryway into Launchpad for students interested in entrepreneurship is participation in the iSTEM@Stevens program. While any Stevens student can apply to join Launchpad, iSTEM is focused on recruiting high school students to participate in entrepreneurship and creativity for the next four years of college. Similar to the Launchpad application process, grades and standardized test scores are not taken into consideration. Students are instead selected based on skills and traits such as problem-solving, curiosity, and resolve. While Launchpad is concentrated in a year-long program, iSTEM lasts all four years of college and incorporates Launchpad into its curriculum.
Typically, prospective students are accepted in the fall semester. In the spring semester, a retreat is hosted, where students can brainstorm problems they would like to solve and collaborate with other students. According to Launchpad participant Amanda Schmitt, “Retreat was all about rediscovering our sense of curiosity and pinpointing what exactly makes us passionate. Rather than focusing on building grand solutions, we spent the weekend finding problems we cared about solving.” Once students have successfully identified a problem they would like to work on, they are formally invited to enroll in Launchpad. The program consists of a year-long series of two classes, Entrepreneurship Experience I&II in the fall and spring semesters. Each class is three credits and can be counted as general electives for any Stevens undergraduate degree. It is generally expected that students will spend anywhere from two to five or more years working on their idea with the program.
Student initiatives range across fields, including health and wellness, education, and politics. While some projects may require funding, according to Dr. Iyengar the priority is placed on first getting to know students from an early stage and then developing ideas and solutions to problems before funding comes into play. Additionally, in the Spring 2021 semester, 10 Launchpad teams were awarded grants from entrepreneur and Stevens trustee Thomas H. Scholl.
According to Iyengar, the ultimate purpose of Launchpad is love, the desire to create a better society. Launchpad is an environment for “change makers” who can identify problems in the world and develop innovative solutions. According to Dr. Iyengar, success at Launchpad is when a student is able to “look forward to Mondays more than Fridays.” Any student who is interested in participating in Launchpad can contact Dr. Iyengar at launchpad@stevens.edu.
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