The 2023-24 school year was the first year of operation for the Halloran Lab for Entrepreneurship. Even now, it is safe to say that this year has been a success.
The organization of the Halloran Lab is relatively decentralized, though a large network of students, mentors, and faculty are available for anybody who hopes to become involved. The casual structure of the Lab attests to its success: students can get involved with nothing more than a simple idea, or a desire to be part of a larger project. They have the option to schedule office hours with a variety of specialized mentors, whose sole job is to develop and incubate the ideas and skills of students. The focuses of these mentors range from software, and marketing, to simple business strategy.
Accessing StartupTree, Halloran’s student and mentor website is also highly encouraged. On StartupTree, involved members can easily market themselves or their ideas, and engage in discourse with other members of the Colby Halloran community.
The formation of the Lab’s identity was a work in progress, continuously being shaped over the course of the year. Jeremy Barron, Halloran’s inaugural director, started shaping this identity in September, with numerous idea exploration workshops. Through the fall semester and JanPlan, these workshops began to attract a larger number of students to StartupTree, and to its expansive mentor network. Interspersed with casual events were real-life funding opportunities, and collaborations with non-Colby organizations.
All year long, a primary motivator for creative students was the $500 Ideate and Explore Grant, which gave students a non-dilutive grant to further pursue their ideas. GreenLight Maine is a regional competition with the potential for thousands in funding. GreenLight was consistently advertised to Colby students over the course of the year.
By the spring semester, the Halloran Lab had further expanded its reach through the creation of the Colby Innovation Club. With the help of Josh Kim ‘23, a recent graduate from the College, a student-run organization of business-minded students was created in tandem with the Halloran Lab.
The creation of the Innovation Club further lowered the barrier to entry for interested students, connecting them on a peer-to-peer level. Notably, the Innovation Club hosted keynote speakers about particular industries, as well as an event meant to match students with skills, and students with ideas.
Now, the Halloran Lab is preparing for its May 2 end-of-the-year pitch competition, in which more established ideas compete for shares of a $40,000 prize pool. In order to participate, ideas had to secure the $5,000 Campagna Sennet Ideate and Expand Grant. A total of six ideas are competing, and all students and faculty are encouraged to attend. Additionally, the Lab is sponsoring an all-day Tech-Crunch event in Boston, and continuously supporting the weekly Innovation Club meetings.
Through only one year of operation, the Halloran Lab has already positioned itself for student success at Colby. With a combination of informational events, funding opportunities, and student-mentor connections, the College has finally established a real culture of extra-academic business innovation. All, whether they have an idea or not, are encouraged to participate in the Lab and further their creative development.
~ Wyatt Tune `26
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