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November 29, 2017

Babson VC and IoT Pitch Contest: ImpactLABS and other judges emphasize value creation over exit strategy

Babson VC and IoT Club Pitch Competition

Babson College’s current Capital Campaign tag line is “Redefining Entrepreneurship”. They mean it. On November 9th, Babson’s VC and IoT clubs partnered to create a pitch competition for startups in agricultural technology, food processing and allied industries. The event, titled “Babson VC and IoT Club Pitch Competition” was held at the college’s Olin Hall.

ImpactLABS Managing Director Chris Rezendes delivered opening remarks at the event, focusing on his experiences working with early-stage, growth-stage, and F5000 companies for food security operations. He also drew from his experience as an investor, advisor, and board member of some of the 15 early stage IoT companies that he has invested in or helped to create.

A handful of entrepreneurs, investors, and innovators in the IoT space were also brought in for a panel discussion and to serve as judges in the pitch competition. Among those key influencers were: Juan Camilo Arias of Babson’s IoT Club, Suhas Narayanswamy of Babson’s VC Club, Jaqueline Heard of Anterra Capital, B. David Vosberg of FreshBox Farms, and Zack Armen of Flagship Pioneering.

Panelists and pitch participants were able to reach back into their operating experience and subject matter expertise — beyond tech and finance — to decrease risk and enhance opportunities for success.

Among the most powerful outputs of this event was the consistency in the missions of each of the investors and entrepreneurs:

Returns through impact. Valuation through values.

Chris Rezendes commented,

“Entrepreneurship needs a new definition. Babson is on it. So too does venture investing. Babson could influence it. ImpactLABS is humbled to be supporting Babson on both.”

The ImpactLABS team has already begun follow-ups and expect to have at least a couple of interactions with each panelist and pitch participant, and in some cases, many more.