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Sarvega Wireless, a company that took second place in the 2000 Edward L. Kaplan New Venture Challenge announced it has been bought by Intel. The company offers products and services that secure and scale XML-based Web services applications.
Co-founded by John Chirapurath, ’01, Sarvega is an excellent example of how entrepreneurship at Chicago GSB provides valuable opportunities and experience for students interested in starting a business. Chirapurath got an important leg up on developing the company when he participated in the Entrepreneurial Internship Program at Chicago GSB. Students intern at entrepreneurial ventures or small companies that would not normally be able to afford a summer intern. “The internship enabled Chirapurath to focus his summer on getting Sarvega off the ground. It is an important component among our experiential learning offerings at the GSB,” said Ellen Rudnick, clinical professor of entrepreneurship and executive director of the Michael P. Polsky Center for Entrepreneurship.
Sarvega took second place, winning $15,000, in the NVC’s annual business plan competition in 2000 after being judged by a distinguished panel of entrepreneurs and venture capitalists. Chirapurath credits the feedback the plan received during the competition with helping make the company a more viable enterprise. He also acknowledged the advice of Steven Kaplan, Neubauer Family Professor of Entrepreneurship and Finance. Kaplan told them to focus on what customers want rather what they wanted to build.
The Sarvega success story is just one of the many fostered by the entrepreneurship program at Chicago GSB. S ince its start in 1996, the NVC has led to the creation of over 25 operating companies. Annual prize money, totaling $50,000, provided by alumnus Ed Kaplan, plays an important part in getting these fledgling companies up and running.
Entrepreneurship is the third most popular concentration at Chicago GSB. Through the Michael P. Polsky Center for Entrepreneurship , students gain access to cutting-edge curriculum, faculty research, experiential learning, and community outreach programs that illustrate the challenges and rewards of starting a business
To stay up-to-date with entrepreneurial activities at the GSB, sign-up to get the New Venture News or visit the Polsky Center website.
More about the purchase of Sarvega can be found at Intel.