Pepperdine Hosts the Startup World Cup — and its $1M Prize

Pepperdine Hosts the Startup World Cup — and its $1M Prize

The most cut-throat competition for startups isn't happening in a shark tank — it's being played out in an auditorium at Pepperdine University. And the stakes are high with contestants vying for a $1 million prize.

The Malibu campus hosts the Startup World Cup's regional final on Tuesday with 10 contestants pitching ideas, from an emergency device alerting that someone is drowning to a robotic kitchen assistant named "Flippy." The winner is sent to San Francisco for a global grand finale that pits 40 rivals hailing from L.A.'s backyard to Mongolia to Kenya.


Startups aren't treating this like a game show. The competition is a chance to see and be seen by deep-pocketed business leaders and venture capital investors who pump some $254 billion globally into nascent companies. And about half that amount lands in the U.S. alone.

Even losing can be life changing.

"It was this great momentum-building event that we've been riding ever since," said Chris Ellis, whose Santa Monica-based AudioCardio competed in last year's regional competition. "It really helped build confidence in us. In ourselves."

Ellis, whose sound therapy app listed on Apple's App Store is designed to strengthen hearing, nabbed the 2019 Southern California final. But he lost out in the million-dollar prize to A.I.-based shipping management startup Abivin. (The Hanoi-based company was also a 2019 winner of Vietnam's version of Shark Tank). The 36-old chief executive, who founded the company in 2018 as his grandfather battled hearing loss, said the contest taught him how to pitch his business better: "I was able to go to anyone, tell them what we do, and my goal was to see if I can make their eyes light up about what we could do in the first 30 seconds."

To be sure, a vast majority of startups in the U.S. — and the rest of the world — fizzle out. Research firm CB Insights found that 70 percent of upstart tech companies fail, with consumer hardware startups among the hardest hit. The study, published last year, found that running out of cash and not finding the right venture capital partners were chief among reasons behind their demise.

That's why Len Lanzi, an advisor and former executive director at the Los Angeles Venture Association (LAVA), sees the competition as a boon for fledgling companies. The $1 million prize, backed by Pegasus Tech Ventures and its partners, gives Ellis and other contestants a chance to get experience pitching investors who can help grow their business. That's why Pepperdine's Graziadio Business School's Peate Institute for Entrepreneurship and LAVA is organizing this week's regional finals.

"We build communities around individual silos, industry silos, like global or digital media, clean tech, healthcare, or life science," said Lanzi, who last year helped sift through "about 120 or so applications for ten spots for people to pitch."

Among last year's regional contestants that competed with Ellis' AudioCardio was Los Angeles-based travel search engine Baarb; Encino's Ready, Set, Food!, which protects kids from baby food allergies; and Laguna Beach software maker Eyedaptic that's tackling blindness and macular degeneration.

Lanzi is ready for a fierce battle this year. He describes the current crop of judges as a "blue-ribbon panel." They include Dan Peate, the founder of Los Angeles-based Peate Ventures. Others casting votes are Austin Clements, who is a partner for venture capital firm OPV, Backstage Capital director Greer Engonga, and Frontier Venture Capital managing director Frank Foster.

They could send someone to the world finals with a cool million at stake. And, by comparison, that's a decent sum considering the average deal amount on CNBC's 10-year run on Shark Tank is $286.000.

The contestants for this year's Startup Up World Cup regional championship are:

  • Coral Drowning Detection Systems, the Los Angeles developer of the Coral Manta, an A.I. powered device that gives an alert when it detects a person drowning in a residential pool.
  • HomeZada, a platform to help homeowners manage information such as finances or home improvements, based out of El Dorado Hills.
  • vRotors, a Los Angeles-based platform allowing users to fly real drones around the world using a computer or VR headset from home.
  • MyShoperoo, an Orange County-based A.I. powered platform allowing users to have errands run for them while they are at work.
  • Miso Robotics, a Pasadena developer of a "robotic kitchen assistant" called Flippy, capable of working grills and fryers, switching tools, and more.
  • Gifts for Good, the Los Angeles-based startup that helps companies curate ethical and sustainable corporate gifts.
  • Limbix, who assists with mental health treatment using VR.
  • OPKIX, a Costa Mesa maker of small cameras that can be attached to hats, sunglasses, necklaces, and other kinds of apparel.
  • LexSet, a platform that generates data optimized for retail, augmented reality, warehouses, supply chains, and more.
  • Saya Life, a Los Angeles-based platform designed to help property owners conserve and monitor water usage.
The event is scheduled to begin at 5:30 p.m. on Tuesday, January 28th at the Smothers Theater on Pepperdine's Malibu campus. Tickets are $25, and can be purchased at https://pepperdinearts.ticketforce.com/. The Startup World Cup grand finale will be held on May 22nd at the Hilton Union Square in San Francisco.
Top LA Accelerators that Entrepreneurs Should Know About

Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.


Techstars Los Angeles

Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.

Location: Culver City

Type of Funding: Pre-seed, early stage

Focus: Industry Agnostic

Notable Past Companies: StokedPlastic, Zeno Power


Grid110

Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.

Location: DTLA

Type of Funding: Seed, early stage

Focus: Industry Agnostic

Notable Past Companies: Casetify, Flavors From Afar


Idealab

Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.

Location: Pasadena

Type of Funding: Stage agnostic

Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy

Notable Past Companies: Lumin, Coinbase, Tenor


Plug In South LA

Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.

Location: Los Angeles

Type of Funding: Pre-seed, seed

Focus: Industry Agnostic, Connection to South LA and related communities

Notable Past Companies: ChargerHelp, Peadbo


Cedars-Sinai Accelerator

The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.

Location: West Hollywood

Type of Funding: Seed, early stage, convertible note

Focus: Healthcare, Device, Life Sciences

Notable Past Companies: Regard, Hawthorne Effect


MedTech Innovator

MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.

Location: Westwood

Type of Funding: Seed, early stage

Focus: Health Care, Health Diagnostics, Medical Device

Notable Past Companies: Zeto, Genetesis


KidsX

The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.

Location: East Hollywood

Type of Funding: Pre-seed, seed, early stage

Focus: Pediatric Health Care Innovation

Notable Past Companies: Smileyscope, Zocalo Health


Disney Accelerator

Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.

Location: Burbank

Type of Funding: Growth stage

Focus: Technology and entertainment

Notable Past Companies: Epic Games, BRIT + CO, CAMP


Techstars Space Accelerator

Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.

Location: Los Angeles

Type of Funding: Growth stage

Focus: Aerospace

Notable Past Companies: Pixxel, Morpheus Space



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🚁 One Step Closer to Air Taxis in LA
Image Source: Joby Aviation

🔦 Spotlight

Joby Aviation, a pioneering electric air taxi company, has achieved a significant milestone by successfully flying a hydrogen-electric aircraft demonstrator for 523 miles with only water as a byproduct. This groundbreaking flight showcases the potential for emissions-free regional travel using vertical take-off and landing (eVTOL) aircraft, eliminating the need for traditional runways. The company's innovative approach combines its existing battery-electric air taxi technology with hydrogen fuel cells, paving the way for longer-range, environmentally friendly air travel.

For LA residents, this development holds exciting implications for future transportation options. Joby's technology could potentially enable direct flights from LA to destinations like San Francisco or San Diego without the need to visit conventional airports, offering a cleaner and more convenient alternative to current travel methods. The company's progress in both battery-electric and hydrogen-electric aircraft positions it at the forefront of next-generation aviation, promising to revolutionize urban and regional mobility.

Notably, Joby Aviation has already made strides in Southern California by securing an agreement with John Wayne Airport earlier this year to install the region's first electric air taxi charger. This strategic move sets the stage for LA to be among the initial markets where Joby will launch its electric air taxi service. With plans to commence commercial operations as early as 2025 using its battery-electric air taxi, LA residents may soon have access to a fast, quiet, and environmentally friendly mode of transportation that could significantly reduce travel times and traffic congestion in the region. In the not too distant future, LA might find itself in an identity crisis without traffic and excess smog 🤞🤞.


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Fuel Innovation: 7 Unforgettable Team Building Experiences in LA
Image Source: Discover LA

In today's competitive business landscape, team building activities have emerged as a crucial tool for fostering a positive work environment, enhancing productivity, and crucially, improving employee retention. Studies have shown that such activities help employees feel valued, with one report indicating that 93% of those who felt appreciated were more motivated at work. Importantly, team building events may improve retention rates, as employees who feel connected to their colleagues and company culture are more likely to stay long-term. With these benefits in mind, let's explore some of the most engaging and effective team building activities available in Los Angeles.

Pickleball

Image Source: Modern Luxury Angelino

Pickleball is a fantastic team bonding activity because of the easy-to-grasp rules and gentle pace make it perfect for everyone, regardless of age or fitness level. The game thrives on communication and teamwork, as players must collaborate and strategize to outplay their opponents, boosting team cohesion. Plus, the lively, fast-paced action sparks friendly competition and laughter, creating a fun and spirited atmosphere that brings everyone closer together. Los Angeles boasts numerous pickleball courts that are easy to rent if you have your own equipment. If you need additional assistance organizing your pickleball outing, there are plenty of full-service companies ready to handle every detail for you.

Resources: Pickle Pop, Corporate Pickle


Escape Room

Image Source: The Escape Game

Escape rooms are a great way to build camaraderie. They require participants to work together, combining their problem-solving skills and creativity to overcome challenges and puzzles. The immersive and time-sensitive nature of escape rooms fosters collaboration and communication. Additionally, the shared experience of tackling complex tasks and reaching a common goal helps build trust and foster positive emotions among colleagues.

Resources: The Escape Game, 60Out


Day Trip to Catalina Island

Image Source: Love Catalina

Catalina Island is a perfect day trip for a team because it provides a break from the usual work environment, allowing team members to relax and connect in a new setting. Shared experiences during the trip, such as exploring new places and participating in fun activities, help build stronger relationships and foster a sense of camaraderie. There are numerous team-building activities such as an arboreal obstacle course, an island tour, scavenger hunts and more.

Resources: Catalina Island Group Activities


Top Golf

Image Source: Topgolf

Topgolf is an excellent team building event because it provides an inclusive, relaxed atmosphere that accommodates players of all skill levels, fostering personal connections and improving team morale. The unique blend of competition and entertainment creates an ideal setting for building trust, enhancing communication, and revealing hidden skills among team members. Additionally, Topgolf offers structured team building packages with guided activities, discussion prompts, and lessons on culture, change, collaboration, and strategy, making it a versatile and effective platform for strengthening relationships and boosting overall team performance.

Resources: Topgolf El Segundo


SoFi Stadium Tour

Image Source: Discover LA

A SoFi Stadium tour offers a unique, behind-the-scenes experience of one of the world's most advanced sports venues, allowing team members to explore exclusive areas like premium suites, team locker rooms, and the player tunnel together. The tour provides a shared, memorable experience that can foster camaraderie and spark conversations among team members, regardless of their interest in sports. Additionally, the stadium's state-of-the-art features and impressive architecture can inspire creativity and innovation, while the group setting encourages interaction and collaboration, making it an engaging and enjoyable activity for teams of various sizes and backgrounds

Resources: SoFi Stadium Group Tours


Corporate Volunteering

Image Source: L.A. Works

Volunteer work serves as an excellent team building activity by uniting employees around a shared, meaningful cause, fostering a sense of purpose and collective accomplishment. It provides opportunities for team members to collaborate in new ways, often revealing hidden strengths and leadership qualities that may not be apparent in the regular work environment. Additionally, engaging in community service can boost morale, enhance the company's reputation, and instill a sense of pride among employees, leading to improved workplace relationships and increased job satisfaction.

Resources: Habitat for Humanity, L.A. Works, VolunteerMatch


Corporate Improv Sessions

Image Source: Improv for the People

A corporate improv class encourages spontaneity, creativity, and quick thinking, skills that are valuable in the workplace. It promotes active listening and collaboration, as participants must work together to create scenes and respond to unexpected situations, fostering better communication and trust among team members. Additionally, the playful and often humorous nature of improv helps break down barriers, reduces stress, and creates a shared positive experience that can improve team morale and cohesion long after the event.

Resources: Improv-LA, Groundlings, Improv for the People

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