By Krysten Brenlla
For Suhrud Rajguru, PhD, an engineer and professor of biomedical engineering and otolaryngology at the University of Miami and the assistant vice provost for research workforce development at the university, starting a business was always his dream – until it turned into reality.
As the co-founder of RestorEar, a medical device company focused on innovative technologies for hearing loss prevention, he has leveraged his experience as both an entrepreneur and educator to launch the University of Miami Startup Accelerator (USTAAR), the university’s accelerator program dedicated to supporting student entrepreneurs and startups at all stages.
Thanks to a $5 million pledge made by University of Miami alumnus Angel Alvarez, founder and chairman of ABB OPTICAL, USTAAR is ready to help University of Miami student entrepreneurs take their startups to the next level.
“Thinking about when I went through that entrepreneurial journey, there were a lot of challenges – there’s so many different things that play a role in launching a startup,” Rajguru said. “I met Angel a year ago, and I talked to him about my vision for USTAAR, which was to help students as they go through their entrepreneurial journey with mentorship, support, and capital. He and his family really helped make this vision a reality.”
“Starting from zero business background, the resources at the University of Miami have had an immeasurable impact on my entrepreneurial journey, with USTAAR at the pinnacle of this influence,” said Zoey Lee, a rising junior at the University of Miami triple-majoring in computer science, mathematics, and immersive media, and founder of Hubs XR, which she is developing through USTAAR. “USTAAR has removed many of the painful hurdles typically encountered in the early stages of starting a venture. They have provided us with invaluable guidance, mentorship, and a community of like-minded student entrepreneurs, creating the essential environment for success.”
Rajguru and the USTAAR team hope to get the teams ready to present their startups to venture capitalists and angel investors at their inaugural USTAAR Demo Day, which is scheduled for September of this year.
“We want to support students, and we know that while they are working on their academics and studies, they may not have a lot of opportunities – but more and more students are showing interest in entrepreneurship, and they are thinking on how they can make a big social impact,” Rajguru continued. “Our students at the University of Miami, and across all South Florida universities, are extremely talented, and they want to stay in South Florida. We want to give them access to the resources they need to be successful. Every team is different, and our goal is to help them identify what stage they’re at and the next steps they need to take through real mentorship and support.”
For the future, Rajguru hopes to continue growing the USTAAR program with help from the alumni and Miami community. He hopes to take the program from $5 million to $30 million, where USTAAR can become first-round investors for student or faculty entrepreneurs and startups.
His advice for students and entrepreneurs is simple: “Don’t be afraid of failure, that’s how you learn and grow.”
“Leverage the resources you have, think creatively, and bring your creativity and ideas to life with the resources available to you,” Rajguru said.
For more information on the USTAAR program at the University of Miami, and to apply for their next cohort, visit their website at https://www.research.miami.edu/programs/ustaar/ or follow them on LinkedIn at https://www.linkedin.com/company/ustaar/posts/?feedView=all.
Photo at the top of this post shows the first University of Miami USTAAR cohort. Photos provided by USTAAR.
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