YOUNGSTOWN, Ohio – Nabayt Kibreab had some extra money and decided to try to make more in the stock market.
It didn’t go well, but it led the Youngstown State University junior computer science and economics major to develop Velora, a stock trading platform for those new to the stock market. That idea earned her the $2,000 grand prize in the Best Business Idea category and the John Burgan Entrepreneurship Prize March 20 at Penguin Shark Tank.
“So for me, Velora is next,” she said after her win. “Within six months, we’re trying to launch the beta version of the application so that people can use it.”
The experience taught her that everything takes time.
“I didn’t create the code within one day. I didn’t write the algorithm within one day,” Kibreab said. “Everything is a process of time and time and time, and then there are always new things to learn from each day.”
She was one of six YSU students to pitch their businesses or business ideas to a panel of five sharks, or judges: Stacy Howlett, CEO of Howlett Logistics, who was also the keynote speaker; Linda Barton of Sweet Memories Vintage Tees; Patrick Burgan of Burgan Real Estate; Mark Lamoncha of Humtown Products; and DeShawn Scott of The D5 Group.
The winner in the Best Established Business category, as well as the fan favorite, was Cadence McStowe and her business partner, Noah Bowman, for their product Tallowtalk Skincare. The top prize was $2,000. Bowman is also a nursing student and a paramedic.
Tallowtalk is a skincare product made from beef tallow that McStowe, a freshman nursing major, EMT and certified nursing assistant, developed while searching for a solution for her acne. It includes no preservatives or chemicals and is also good for skin conditions such as eczema and psoriasis, she said.
The others in the Established Business category were ACG Media Marketing, owned by Alexis Gaetano, which earned second place and a $1,500 prize; and Coastavida Jewelry by junior marketing major Hailey Bonner, which earned third place and $750.
In the Best Business Idea category, Jan Harter, a junior business analytics and economics major, won second place and $750 to develop a new piece of rock climbing equipment. Third place and $500 went to Sai Teja Reddy Bokka, a mechanical engineering graduate student and his business partner, Jennifer Skowron, for Vigyus, a specialized platform for STEM education.
Pictured at top: Nabayt Kibreab wins at Penguin Shark Tank.