Four burgeoning startups supported by Lincoln-based NMotion, a gener8tor program, made their debut recently at the virtual Prairie Roots Spring Show.
SPN asked the four teams to share a little about their businesses and what it was like going through the Accelerator Studio cohort.
The startups represent a variety of business models and industries, from an innovative lace-front wig rental company to a tool designed to get Gen Z involved in investing at an early age.
NMotion is currently recruiting for the next Accelerator Studio cohort, as well as the gBETA Lincoln program.
Responses have been edited lightly for grammar and space.
Thanks to our sponsor
Bumper
Founder: Luke Moberly
Tell us about your startup.
Bumper makes longer-term investing incredibly engaging and accessible for Gen Z teenagers. While traditional custodial investment accounts are built for the parent to invest for the child, Bumper puts the focus on the younger user. Our teenage users manage their portfolio, learn about the stock market, find companies and ETFs they want to own, and request trades. Bumper also gives the sponsor of the account, typically the parent or the guardian, safety guardrails and limitations to encourage healthy investing habits. This includes budgets, trade limits, and the ability to approve or deny trade requests.
How did you come up with your idea?
I wanted to learn how to invest when I was in high school, but traditional financial education was boring, often lacking the ability to apply it in the real world. Given the power of compound interest, it is crucial for young people to invest as early as possible. However, the majority of teenagers don’t have the opportunity or education to do so. Bumper arose out of a desire to make investing more engaging and accessible for this next generation of teenagers.
What has been your favorite part of the NMotion Accelerator Studio experience?
My favorite part of the NMotion Accelerator Studio has been the investor swarm. In meeting over 80 investors, I have not only attracted interest in the company, but I have drastically improved my ability to pitch. Navigating the venture capital world is time consuming and can be frustrating, so getting as much practice as possible is crucial to success.
Anything else you’d like to share?
Bumper is preparing for a beta test in late May and a public launch this summer. We are partnering with a FINRA registered broker-dealer to offer investing services with zero commissions or extra fees.
Learn more: https://www.joinbumper.com/
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WellCapped
Founder: Shante Frazier
Tell us about your startup, WellCapped.
WellCapped’s monthly subscription service offers high quality, lace-front wigs to users via a Rent the Runway business model. WellCapped makes data-driven decisions to select inventory, and to provide a Netflix-esque suggestion list of styles to its users.
How did you come up with your idea?
My aunt actually gave the idea to me. She’s a cosmetologist in Ohio and saw a white space in the hair industry and came up with a model that would solve it.
What has been your favorite part about the NMotion Accelerator Studio?
The NMotion Accelerator Studio has taught me so much. It’s a rigorous program but the reward is great if you trust the process. I have learned so much about what it takes to start business and be a great leader.
Learn more: www.WellCapped.com
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AION Prosthetics
Founders: Samuel Christianson, Benjamin Satterlee, Joshua Becker, Charlie Erdman
Tell us about your startup, AION Prosthetics.
AION brings a faster-to-market consumer product approach to develop body-powered prosthetics at a middle-market cost. AION uses the iterative power of industrial design to create a modular system with high-caliber aesthetics for upper extremity terminal devices.
How did you come up with your idea?
AION has been in development throughout our college careers. As a team of industrial designers, the four of us love to tackle challenges with integrity, and curiosity. Our team’s primary reasoning for joining industrial design as a career path was to do something impactful, and we saw the prosthetic industry and the much-needed overhaul when it came to the applications of design principles (in the industry).
What has been your favorite part of the NMotion Accelerator Studio experience?
Growing as team and developing further trust in each other. At AION, we have been working together for years, but through the rigorous Accelerator Studio program we have started to grow even more into our natural strengths. The program allowed for others to look at our team and really observe how to make us more efficient and empathetic. The new habits we developed in the programs improved our design workflow, and really opened our eyes to the power of relationship networks.
Learn more: http://aionprosthetics.com/
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Share My Change
Founders: Quest Moffat and Alejandro Salazar
Tell us about your startup.
Share My Change turns the traditional spare change donation box sitting at the cash register into an easy-to-use digital fundraiser that generates donations everywhere nonprofit supporters shop. Through Share My Change, nonprofits invite supporters to download the app, connect their bank account, and choose how their purchases will generate “round-up” or “add-on” donations.
How did you come up with the idea for Share My Change?
The original idea was created in 2013, but the technology did not exist to make it happen. Stripe, Plaid, and other interesting FinTech companies were here but very pricey. When working at Society of Hispanic and Professional Engineers (SHPE), I came up with the idea again after struggling to raise funds from our 13,000 members. So I joined forces with a former SHPE member and good friend Alejandro to create the idea through NMotion.
What has been your favorite part of the NMotion Accelerator Studio experience?
I was able to work with a talented team of developers, creative people, and talented thought leaders, and access to mentors who have a background in the area. I was super impressed with the founders that I had the chance to work with over 4 months. Super impressed with my fellow founders in the cohort and look forward to watching their stories.
Learn more: http://sharemychange.com/
Originally published April 30, 2021.
