Bobica Bars continues momentum by winning 2023 Idea Challenge
Students from all over campus took part in this year’s 2023 Idea Challenge on Friday Dec. 1, hosted by the Rowan Center for Innovation and Entrepreneurship (RCIE) where they put their hard work, creativity and new ventures on display for a chance to win $4K in non-equity seed funding. Bobica Bars took home first place, gaining more funding for their business and continuing their momentum for their superfood granola bar business.
Founders Harrison Nastasi and Justin Iannelli won first place at the 2023 CEO global pitch competition just a month ago and placed third last year at the New Venture Competition. This makes this win the second time this year that the Nastasi brothers have received the same award, back to back. Last year, Harrison’s older brother Nick Nastasi and Joshua Perry won for their medical sticker business, 4U Medical Designs.
“To win Rowan’s competition here at home…it showed how much I grew within the last year, and how much support Rowan has for student entrepreneurs like us,” said Harrison Nastasi.
Iannelli and Nastasi were also a part of Rowan’s entrepreneurship and innovation class, and found it rewarding to see their peers present their hard work as well.
“It’s so inspiring seeing these [students] grow from a classroom idea to really having a company on a table and pitching. It is so amazing and it shows how much support Rowan really has in the business school. I can’t wait to come back next year and become even better,” said Nastasi.
They’ll be using the funding to acquire a co-manufacturer and to work on different marketing strategies and campaigns. Winners for Most Promising New Venture included Copra Creamer, Breezy Pass, Ameriquest and Circlez and Lushious Beauty and Budget Bites were named honorable mentions.
Regardless of where teams placed, many competitors found that the experiences they had pitching their business and preparing for the event was motivating and gave them confidence as they continue throughout their respective careers.
Cool Beanz, a vegan ice cream parlor took home People’s Choice Award for their ice cream business. Their flavors are unique and nuanced, while also being vegan, dairy free, nut free, homemade and organic.
Growing up with food allergies and sensitivities, one of the founders, Joseph Abate discovered that it was hard to find a good ice cream sundae that would accommodate all of the dietary restrictions that previously prevented people from enjoying a good ice cream sundae. Most options at local ice cream shops were restricted to vanilla or chocolate, limiting the options for people who may be allergic to peanuts, are vegan or lactose intolerant.
“A good ice cream sundae, it’s very hard to find flavors that interest me, I’m usually stuck with vanilla or chocolate. And that’s what we’ve seen as a problem but also a huge opportunity,” said Abate.
Their business’s top focus isn’t necessarily focused on selling their ice cream in the grocery store– but rather to other businesses to diversify the selection that consumers are able to get when they go out for ice cream.
“I don’t think we’re trying to compete with your freezer section in your local grocery store. We’re looking to be a vegan ice cream distributor. So if you take Jack and Jill, for example, they’re the biggest ice cream wholesaler in the nation, and they don’t offer a vegan ice cream for their customers. That’s where I feel like we fit in, we would sell business to business helping these partners offer ice cream to everyone,” said Abate.
For teams that want to showcase their ideas and take them to the next level, this event isn’t the only opportunity this year to do so. The New Venture Expo will take place in the spring, followed immediately by the New Venture Competition, where these enterprising student and innovative ideas can take the stage. Even if students don’t plan on continuing with businesses they created in class, the skills that come from pitching to judges and preparing to sell a product will be long lasting and transferable.
“Even if it’s not today, not this semester, and not this year…that’s okay. They may find themselves five years down the road when they come up with an idea or they have this ‘aha moment’ and they can think back to their time here, and realize, ‘I have the skills that I can put into place in order to succeed,’” said Jessica Vattima, Assistant Director of the RCIE.
Visit ent.rowan.edu to learn more about Entrepreneurship at Rowan.
Story by: Madison Miller
