Finance students examine how venture capital can support innovation

When most students see a business idea, they think about the product. Three Central Michigan University finance students saw something else: the ecosystem that helps ideas succeed.

Recent finance graduate Derek Ballas of Allen Park, Mich.; finance major José Marcotti Neto of São Paulo, Brazil; and finance and sales dual major Mark-Allen Gay Jr. of Miami, Fla., began asking questions about what happens after a student entrepreneur develops a promising concept. How do startups find resources? How do founders access mentorship and investment? And how can universities create environments where innovation continues beyond a pitch competition?

Those questions led the students into a deeper exploration of venture capital, entrepreneurship and higher education. What began as a classroom conversation evolved into a research project, a digital publication and ongoing mentorship from CMU alumni Jon Voigtman and Bob Oros.

The students' interest was fueled in part by entrepreneurs they had seen succeed through CMU's New Venture Challenge. Recent New Venture Challenge winners such as AJ Kostic of CRE Nutrition and Lawai'a Brown of Dominator Cleats demonstrated the entrepreneurial potential that can emerge from student innovators. Their success prompted a broader question: What kinds of systems help promising ideas continue to grow?

"We wanted to create that environment here at Central," Ballas said.

As they researched potential answers, the students found themselves studying trends far beyond traditional startup investing, including venture capital, economic development, name, image and likeness policies, private investment and the financial pressures facing colleges and universities.

The more they learned, the more they became interested in how innovation, investment and education intersect.

Exploring new possibilities

At the center of their research was a proposal for a university-affiliated venture capital fund designed to support startups while creating hands-on learning opportunities for students. Inspired by the CBA’s student-managed investment funds, the concept envisioned students working alongside experienced professionals and alumni mentors to evaluate investments and gain exposure to venture capital decision-making.

The students imagined an ecosystem connecting alumni, entrepreneurs and emerging technologies across disciplines. The proposal also explored how investment returns could be reinvested into future opportunities, creating a self-sustaining model for innovation and entrepreneurship.

"The biggest part of the sustainable model is it not only helps the institution and administration, but it's a student-first model," Gay said.

For Gay, the collaborative nature of the idea was equally appealing.

"It was more of seeing everyone collaborate and pitch their ideas towards helping the company grow," he said. "I felt like that was one of the coolest things."

While the concept continues to evolve, the process of researching and developing it challenged the students to think critically about how organizations adapt to changing environments and emerging opportunities.

As their research expanded, the students looked for ways to continue the conversation. That effort led to the creation of Centralis Brief, a digital publication focused on entrepreneurship, innovation, private capital and trends affecting higher education and athletics.

The platform allows the team to share research and explore how innovation and investment are reshaping colleges, universities and startup ecosystems while connecting with alumni, business leaders and other professionals.

Learning through exploration

Along the way, Ballas, Marcotti Neto and Gay developed relationships with alumni mentors, including Jon Voigtman and Bob Oros, who helped them test ideas, ask difficult questions and think bigger about what might be possible.

“Without a faculty sponsor, without a formal mandate and without any expectation of personal gain, Derek, Mark-Allen and Jose spent months trying to solve one of the hardest problems facing higher education,” said Voigtman. “Whether their proposal moves forward tomorrow or years from now, their initiative, curiosity and willingness to do the work is what makes me proud to support CMU.”

“The most important outcome of this project isn't a proposal or a publication. It's seeing students take ownership of an idea, seek out mentors and grow through the process,” said College of Business Dean Chris Moberg. “I'm incredibly proud of Derek, José and Mark-Allen, and equally grateful for alumni who continue to invest in the next generation of leaders.”

Today, the students continue to expand Centralis Brief while exploring the ideas that first inspired the project. For them, the work has become about more than a single proposal. It is an opportunity to study emerging trends, engage with leaders in the field and participate in conversations about how innovation, entrepreneurship and investment can shape the future.

Whether through research, entrepreneurship or future collaborations, the students remain focused on asking difficult questions, seeking new perspectives and exploring what might be possible.