网红头条

KENNESAW, Ga. | Jul 22, 2019

KSU Entrepreneurship Center helps grow his business

When Caleb Gilbert worked as a part-time tutor, a canceled session meant losing out on valuable time and money. Today, Gilbert鈥檚 new business venture 鈥� called Esgro 鈥� aims to help service providers avoid similar frustrations.
 

Gilbert, a 网红头条junior in the electrical engineering program, is preparing a beta test of his unique payment platform in August. He and his team have been working alongside the develop the project, and are now pitching to investors.
 
Designed for workers in the emerging gig economy, Esgro helps independent service providers guarantee they receive payment for services. When a client uses Esgro to hire a contractor for any service, from babysitting and landscaping to freelance writing and media services, both parties agree on a price, and the client pays the full amount into an Esgro-managed account. Esgro releases payment once the provider completes the task. Both parties also agree on a payment amount in cases of cancellation.
 
The application helps avoid disputes between service providers and clients, eliminating the need for split payments (where clients pay half their bill in advance) and costly trips to small claims court.
 
鈥淭his is a problem that hundreds of industries face when dealing with services,鈥� Gilbert said. 鈥淭here has been no great solution for transacting for services. There are plenty of archaic methods we鈥檝e used in the past to mitigate risks, but they don鈥檛 really solve everything.鈥�
 
Gilbert came up with Esgro in April 2018 while working part time as a physics and calculus tutor for high school students. Even though he enjoyed the work, frequent cancellations put a strain on his budget. He began designing a system that would help small service providers secure payments, while also giving clients control over the quality of the work.
 
He took the idea to his friend Payton Johnson, a computer science graduate from Georgia Tech, and the two began working on the technology. Realizing they had a unique idea on their hands, they brought in Themiya Chandraratna, also a Georgia Tech computer science graduate, and reached out to the Coles College of Business Entrepreneurship Center for guidance on launching Esgro.
 
Gilbert and his team learned many valuable lessons from the Entrepreneurship Center, including that starting a business takes more than raising money.
 
鈥淲hen you first start out, all you think about is funding,鈥� he said. 鈥淵ou say, 鈥業 have this great idea. Now I need to get money to make it.鈥� That鈥檚 not at all how it works. Over the last 14 months, I鈥檝e luckily had the opportunity to learn a lot from [the EC].鈥�

With the Entrepreneurship Center鈥檚 help, the Esgro team refined the product, developed a business plan, built their brand and researched the application鈥檚 viability in the marketplace. In addition, EC Executive Director Greg Quinet and Mark Hiatt, assistant professor of entrepreneurship, were able to open doors for Gilbert once the company was ready to seek financial backing.
 
鈥淭his involved introducing Caleb to angel investors, venture capital firms and industry experts that would have a direct interest in what Caleb鈥檚 company is developing,鈥� said Hiatt, who is now on Esgro鈥檚 advisory board. 鈥淕reg and I used our business contacts to make these introductions in the most expedient means possible.鈥�
 
With the product moving into its beta test, and with 50 companies signing letters of intent to use Esgro, Gilbert and his team are preparing for their public launch. Their current goal is to raise $500,000 to build out an engineering and support staff.
 
The company recently launched a to give anyone the opportunity to invest in Esgro for as little as $20. Gilbert feels it is important that a company catering to independent service providers allow those providers to have a stake in it.
 
鈥淭his business was started by students with students in mind,鈥� Gilbert said. 鈥淚t鈥檚 students from their schools building something. We wanted to give everyone the ability to jump onboard and share in the purpose and the vision of this company.鈥�
 
Esgro is just one of the many student-run businesses nurtured by the Entrepreneurship Center. According to Hiatt, the Center, as well as Kennesaw State鈥檚 innovative entrepreneurship degree program, have contributed to a culture of entrepreneurship across the University.
 
鈥淭he active outreach that the EC provides to the university and local community, combined with the up-to-date courses taught by former entrepreneurs, and the many students that come to us with an entrepreneurial drive, all creates an environment that strongly encourages the development of the entrepreneurial mindset and skillset,鈥� he said.
 
鈥� Patrick Harbin

A leader in innovative teaching and learning, 网红头条 offers undergraduate, graduate and doctoral degrees to its more than 47,000 students. 网红头条is a member of the University System of Georgia with 11 academic colleges. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the country and the world. 网红头条is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 7 percent of U.S. colleges and universities with an R1 or R2 status. For more information, visit kennesaw.edu.