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Innovative Disruptions

Innovative Disruptions — Jimmy Wu

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Jimmy Wu – Foreign Exchanges Made Easy

Sending money abroad? Prepare to spend an exorbitant amount, thanks to transaction fees and exchange rates. And don’t forget to provide confidential information, such as your bank statements, addresses and phone numbers. Rady School of Management alumnus Jimmy Wu (MBA ’17) recognized the currency exchange system was broken, and was costing him and his family a fortune, when transferring money to and from his home country of China– so he set out to disrupt the industry.

Swapsy simplifies global currency exchange by connecting users who have different currencies rather than relying on banks to initiate transfers. Utilizing the free and real-time payment tools in different countries, people get the target currency they need without making costly international money transfers.

The Swapsy system is also safer and more secure than using traditional forms of currency exchange. Rather than having access to an individual’s entire bank account, the system connects others to payment tools. Swapsy does not hold the money and does not ask users to provide confidential information that banks require. All the features allow users to pay significantly less and transact much faster.

The innovative approach to currency exchange is disrupting the multibillion dollar industry, generating interest in the company. Swapsy was recently accepted into the prestigious EvoNexus accelerator – a premier tech startup incubator in Southern California.

Wu was inspired to scale Swapsy into a fully-fledged company after completing the coveted Lab to Market sequence housed in the Rady School of Management, which teaches students how to turn ideas into market opportunities. The company has also received investments from the well-known LA incubator MuckerLab.

“The extraordinary entrepreneurial atmosphere at the Rady School motivated and encouraged me to start my own business,” Wu said. “The Lab to Market courses and accelerators gave me confidence that I can make my idea happen. Without the resources and connections I have access to at Rady, it would be much more difficult to achieve today’s milestones at Swapsy.”

March 23, 2018 0 comment

Alumni Startup

Innovative Disruptions — Kian Salehizadeh

written by Rady School

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Kian Salehizadeh – Bringing Sustainability to Charitable Organizations

The shift to solar energy is sweeping the nation – but for the majority of Americans, adopting the energy efficient practice is not in their budget. Although solar panels can save money in the long run, acquisition and installation can cost up to $15,000. The high cost of energy bills is especially detrimental for small businesses and community charities while working with small budgets to make big societal changes.

Noticing the lack of access to a sustainable practice, Kian Salehizadeh (MBA ’11) co-founded Everybody Solar — a company that works to protect the environment and strengthen U.S. communities through solar energy projects.

“Everybody Solar raises funds to provide solar installations to local charities, helping them reduce electricity costs and direct their limited resources to the communities they serve,” Salehizadeh said. “We are promoting clean energy and environmental sustainability by raising funds for disruptive charities that are critical to their local communities, and in some cases, involved in national efforts and causes.”

The benefit of the company is two-fold – charities are able to install solar energy systems that save money so nonprofits are able to divert funds away from utility bills and back into their programs, while the sustainable energy efficient system benefits the environment.

“I have always had a passion for entrepreneurship, and the Rady School emphasis on innovation was apparent from the start. The faculty constantly encourages thinking outside the box and the Lab to Market series serves as a foundational element of the program.”

March 21, 2018 0 comment

Alumni Startup

Innovative Disruptions — Richard Castle

written by Rady School

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Richard Castle – The Future of Hospitality Management

When booking a vacation or business trip, consumers want things to run smoothly. From check in to check out, hotel staff work tirelessly to ensure the needs of guests are not only met, but exceeded. But how do hotel operations ensure everything about a guest’s stay is as perfect as possible? Enter Cloudbeds, a company developed by Richard Castle (MBA ‘13) and Adam Harris.

Cloudbeds provides hospitality software that helps independent operators run their properties’ operations. The Cloudbeds system provides a variety of services, including the software the property uses to check people in, manage reservations, run important reports, distribute inventory and more.

Thanks to the internet, travelers have the technology at their fingertips to book accommodations anywhere in the world. Thanks to Cloudbeds, booking is easier for travelers and managing operations is easier for providers. The streamlined platform is making waves in the industry – Cloudbeds programs are used by tens of thousands of properties in more than 100 countries to help properties generate more reservations and provide a better guest experience.

“Powerful property management and channel management software was previously only available to the largest hotel brands in the world,” Castle said. “Cloudbeds provides a flexible, cost-effective software solution that helps independent properties navigate an ever-changing industry.”

Castle’s time at the Rady School of Management was integral to the creation of Cloudbeds. From an emphasis on innovation and creative thinking to courses dedicated to providing insight on starting a business, Castle credits the Rady School for helping his business interrupt the hospitality industry.

“As Cloudbeds grows, the skills that I acquired at Rady continue to apply and I feel that I’m continuously reflecting on all of my coursework, faculty lectures, and conversations with my fellow alumni.”

March 19, 2018 0 comment

Alumni Startup

Innovative Disruptions — Silvia Mah

written by Rady School

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Silvia Mah – Inspiring Diversity in Entrepreneurship

Have you noticed an influx of women raising their voices and taking their seats at the entrepreneurial table? It is women like Silvia Mah (MBA ’10) who are helping make that possible. Through her various organizations focused on supporting women in the startup world, she has helped with the launch of more than 120 female-led business endeavors.

Mah serves as the Executive Director of Hera Labs, a business accelerator dedicated to helping women-led businesses launch and grow. Hera Labs is not your typical accelerator. Founded on principles of innovation, support, community and collaboration, Hera Labs was created to encourage diversity in entrepreneurship by providing women access to mentors, education and capital to ignite female-led innovation.

With a background in biochemistry, Mah initially came to the Rady School to enhance her business acumen and expand her network. After a few courses highlighting entrepreneurship, Mah caught the entrepreneurial bug and worked to develop mystartupxx – an accelerator housed in the Rady School dedicated to helping women create and launch business ideas.

“My time at Rady transformed my business decision-making process, challenged me to think big and dream of a different world where funding opportunities are not dictated by our gender or color,” Mah said.

The success of Hera Labs has led to a number of additional resources for female entrepreneurs added to the lineup. Hera Labs recently partnered with Seed San Diego and Product Rebels, to launch Ad Astra, a 12-week business accelerator for female founders with revenue-generating businesses. Throughout the program, participants gain access to funding and clarity on their product, customers, and market, so they leave with a compelling business case that leads to subsequent investments.

“Rady supported me tremendously in the launch and growth of a business accelerator made for female change-makers and innovators. I cannot begin to express my gratitude to Rady, the faculty and the students for creating a safe place to grow ideas for maximum impact.”

March 16, 2018 0 comment

Alumni

Innovative Disruptions — Suman Kanuganti

written by Rady School

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Suman Kanuganti – Helping Others Navigate the World

When Suman Kanuganti (MBA ’14) arrived at the Rady School of Management, he knew he wanted to leave with an idea that would change the world – he just wasn’t sure where to start. A fateful course in entrepreneurship inspired Kanuganti to pull from his experience to address a societal need. The question was posed to the class – How can entrepreneurship inspire positive change in the lives of others? Inspired by a perseverant friend with deteriorating vision, Suman decided to use his engineering skills to help empower visually impaired individuals to achieve their full potential.

Launched in 2014, Aira was created to help visually impaired individuals navigate the world with more freedom and autonomy. By leveraging leading technologies, such as smart glasses and mobile devices, Aira connects users – or Explorers – with a network of trained remote human agents, to provide Explorers with instant access to information and assistance in the physical and digital world, when and where they want it.

“Aira is introducing disruptive technology to solve an age-old and often forgotten problem facing the low vision: how to go beyond the white cane, guide dog and limited assistive devices to help people who are blind gain enhanced mobility independence and quality of life,” Kanuganti said.

Powered by the latest in augmented reality artificial intelligence, Explorers are able to connect to agents who are able to see an Explorer’s location and surroundings, providing a clear, live auditory narrative of the user’s environment in virtually any daily activity.

Since its inception at the Rady School of Management, Aira has received countless awards, accolades, recognition from top publications and numbers of rave reviews from Explorers.

“After coming to the Rady School as an engineer with an interest in the business world, my time at Rady enabled me to gain the innovative and entrepreneurial skills I needed to establish a vision, launch my company and make a real impact on the lives of the visually impaired.”

March 14, 2018 0 comment

Alumni

Innovative Disruptions — Byron Myers

written by Rady School

Alumni from the Rady School of Management share how they used their degrees to disrupt their industries to bring innovative ideas, products and programs to the market.

Byron Myers – Changing the Face of Oxygen Delivery

More than 15 million Americans use oxygen therapy to assist with a range of health complications. But traditional oxygen therapy is cumbersome – patients have historically received their portable oxygen therapy from large and heavy oxygen tanks that deliver a limited supply. Inspired by a close relative struggling with the complications and restrictions of traditional oxygen therapy delivery systems, Byron Myers (MBA ’10) and his team developed Inogen, a company that aims to ensure mobility and freedom for oxygen therapy patients.

“Inogen is innovation in oxygen therapy – we are a medical technology company that develops, manufactures and markets oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions,” Myers said. “Inogen’s technology generates oxygen from room air so the patient never needs to worry about running out of oxygen in a tank.”

Gone are the days of lugging a hefty tank with a finite oxygen supply. Inogen’s disruptive design combines portability with recyclable air filtration technology to provide a constant supply of oxygen. But the technology is not the only disruptive aspect of Inogen – the unique business model is also shaking up the industry.

“As the only manufacturer in oxygen therapy with a true direct-to-consumer business model, Inogen is creating patient awareness of our technology and the benefits it can provide to increase freedom and independence,” Myers said. “Our technology innovations made us successful; the distribution strategy was a complete game changer.”

Lessons on innovation and challenging the status quo helped Myers establish the $2.5 billion company – lessons Myers credits the Rady School of Management for helping launch and sustain his flourishing business.

“My time at Rady helped me establish a mindset that there is no room in a competitive market for complacency, there is no other option than forward progress and it must be actively sought.”

March 12, 2018 0 comment