Alvernia's O'Pake Institute places three finalists in business plan competition

Alvernia University's student entrepreneur Tobi Somori '24 was a collegiate finalist in the 2024 TecBRIDGE Business Plan Competition with her startup technology company Emivero.

Somori's technology startup, Evimero, aims to enhance retention and engagement for universities and students. Its time-management and student engagement features are designed to retain current students and recruit non-traditional students.

"I learned grit, the importance of feedback, and how to pivot," said Somori. "All the hard work paid off. To me, it was very validating to know that we are past the idea stage, and the industry experts who served as judges for the competitions agreed with us."

Somori worked with Jack Short, MBA Candidate, and O'Pake Institute Graduate Assistant of Startup Ventures and Investments. Short serves as Emivero's chief financial officer. In this role, he creates financial projections, cash flow statements, and profit and loss statements, manages budgeting, and oversees many day-to-day operations alongside Somori.

"Being a finalist in the TecBRIDGE business plan competition has provided me a plethora of experiential learning," said Short. "I had a great opportunity to develop a financial model for our start-up company, present to a great group of judges, and showcase Evimero to the world which TecBRIDGE provided to us the opportunity to do."

College student teams in the region, like the Emivero team, compete in the collegiate division. Competitors are responsible for deliverables in four areas: an executive summary, competitor analysis, proforma financials, and a pitch deck, which they presented on April 18. Industry expert judges evaluated these presentations ahead of the awards ceremony on May 2 at the F.M. Kirby Center for Performing Arts in Wilkes-Barre, PA.

"Preparing to compete in the TecBRIDGE Business Plan Competition is a rigorous process, but Tobi and Jack embraced the challenge," said O'Pake Institute Executive Director of Student and Client Services, Michelle Conway, MBA. "They diligently developed a comprehensive business plan, pitch deck, financial projections, and competitive analysis. They also attended help sessions with tecBRIDGE's professional service provider network and invested countless hours perfecting Evimero's wireframe-all while balancing full-time studies and part-time jobs. Tobi and Jack truly embody the entrepreneurial spirit and the commitment of having 'skin in the game."