New Holekamp funding extends support to graduating student startups

In the five-plus years of its existence, the Holekamp Seed Fund has helped nurture dozens of tiny shoots of entrepreneurial growth, giving $1,000 grants to WashU student-launched startups.

Now the fund is looking to apply additional TLC to some of these young businesses. The fund awarded its first $5,000 add-on grants to four previous recipients whose businesses showed progress and promise.

Rian Edwards, associate director for entrepreneurship at WashU Olin, said the add-on grants, the first offered by the Holekamp Fund, are a natural expansion of efforts to support student entrepreneurs as they graduate and devote themselves to their startups.

"When you're in school, you have a safety net," she said. "But after graduation, it can feel intimidating. We want to remind them that WashU's resources are still available and we continue to support them. We believe in their potential."

The recipients are taking that validation to heart. Franklin Taylor, MBA 2024, whose Sustain-a-Plate startup helps retailers avoid food waste, said the additional funds had a practical effect, going toward supplies and a team member’s stipend. But the money provided something more intangible as well.

“It instills confidence that we can continue to do this full-time, that we’re going down the right path,” Taylor said.

The Holekamp Seed Fund was launched in 2018, by Cliff Holekamp, MBA 2001, who was the first academic director of Olin’s entrepreneurship program. The $1,000 grants usually go toward the initial costs of starting a business—mostly the expenses of establishing an LLC.

“We wanted to create an add-on award for those who have shown dedication and demonstrated growth since the initial award and those who are ready to take their business to the next level as they graduate,” Edwards said.

For Magdalen Pike, MBA 2023, whose startup Passback collects and repurposes used sports gear, the add-on funds were a bridge to government funding.

“We had received a solid waste management grant through the state of Missouri, and it’s been kind of a long (payment) cycle—our acceptance was about six months ago, and we actually got to start spending that money as of last week,” she said. “The add-on funds gave us a much-needed cash flow at just the right time.”

To be eligible for the add-on award, the founder must be a previous Holekamp awardee who has graduated within the prior year and—importantly—plans to work full-time on their business after graduation.

That’s definitely the case with Taylor, who turned down a full-time job to grow Sustain-a-Plate.

“I had a very nice corporate job lined up, but I knew that my goal coming into the WashU MBA program was not to get a corporate job,” he said. “I came here to grow as an entrepreneur. I know I would have regretted it in the future if I never took the chance to do this full-time.”

Helen Telahun, BSCSE 2024, whose startup Article 26 provides online financial literacy guidance, used the money to hire a developer as the company ramps up to fulfill a contract with a City of St. Louis program this fall. She said it was intimidating to watch her classmates take high-paying jobs while she continued to work toward her entrepreneurial dream.

“But throughout my college experience—since the spring of my sophomore year—I’ve been focused on Article 26. It’s been a big part of my life. And I’m still very much excited about it.”

She encouraged other Holekamp winners to apply for the add-on funds, which Edwards said are increasing to up to $10,000 next year.

“They give you great feedback, even if you don’t get the award,” Telahun said. It’s just a learning opportunity to get better.”

In addition to Sustain-a-Plate, Passback and Article 26, the Holekamp Fund awarded a $5,000 add-on grant to Tossup, a social sports betting platform founded by four WashU undergraduates.

More information about the Holekamp Seed Fund and the add-on funds are available on the seed fund’s website. Applications are accepted on a rolling basis until May 1 of each academic year.