Parking on the Auburn University campus is no easy feat, as students will tell you.
Jonathan Philip and Alex Wakefield, both seniors in mechanical engineering, have developed a solution that could alleviate those parking headaches in the future.
Philip and Wakefield created Parking Grid Technologies, an app that gathers information and connects it to drivers to let them know where available parking is on campus. Using the Internet of Things, Philip and Wakefield were able to collect physical data on “things” and connect it to the Internet to use the information remotely.
Their concept and application development was so successful they won the inaugural Raymond J. Harbert College of Business’s Tiger Cage competition that looks to discover and reward the best early-stage products, services or business concept created from Auburn University students and entrepreneurs. The grand prize included $10,000 which has been used to pay for Parking Grid Technologies supplies and development costs. To grow their business, Philip and Wakefield have brought on a third founding member, Brandon Eidson who earned his Ph.D from Auburn in electrical engineering in 2015.
The initial success of Parking Grid Technologies and winning Tiger Cage was no fluke. Philip and Wakefield attribute it to their engineering knowledge and foundation, which no other team had.
“We were the only all-engineering team in the finals (possibly the only one in the semi-finals as well). We were up against MBA students and other highly qualified business majors. This was in fact a business competition, where the judges didn’t care so much about “how” the product worked, as they did about how you could make a successful business around it.
Learning the business side of things was one thing. In addition, they each had to learn how to be salesman, marketers and financiers, which thanks to their Auburn Engineering education they have been able to achieve.
“Engineering gives us the critical thinking skills that allow us to succeed in a multitude of subjects,” Wakefield said. “This is why many CEOs of major tech companies started out as engineers. To me, being an engineer is not just about being good at math and science, it is about being able to overcome challenges and get the job done well.”
Winning the Tiger Cage competition was just step one for these budding entrepreneurs. They hope to expand Parking Grid Technologies to other campuses, while also encouraging other young engineers to take a chance on dreams of their own.
“Wayne Gretzky said ‘You miss 100 percent of the shots you never take,” Wakefield said. “If you are taking the initiative, you will find that there are others willing to come along side you to help take it to the next level.
Top tips from Philip and Wakefield for becoming successful entrepreneurs:
- Make Connections:
We couldn’t have accomplished nearly as much as we have without reaching out for help to some amazing individuals. This includes contractors, advisors, industry connections, potential employees and more.
- Don’t Be Afraid to Change:
Being an entrepreneur means you are going to run into walls all the time. Sometimes you will be able to get over them, and other times you will need to change your direction. In the fast-paced environment of entrepreneurship, the sooner you can accept the need to change, the better.
- Customer/Market Research:
Before you pursue ANY entrepreneurial idea, the first thing you need to is to use Google, the second thing you need to do is to pick up the phone. Get online and research to find out if anyone else is doing the same thing. I can almost guarantee you, unless you have a PhD in some special field, someone else has at least attempted a similar idea as yours. Don’t let that discourage you though. Figure out why your specific idea or approach is better. After doing this, find some potential customers who would benefit from this, and ask them if they believe your idea/approach is better. If they do, you have something worth pursuing.
- Be Ready for Failure:
Being an entrepreneur is an emotional roller coaster. One of Jonathan’s favorite quotes is from Marc Andreessen, “[In a start-up] you only ever experience two emotions: euphoria and terror. And I find that lack of sleep enhances them both.” You have to be resolute in order to handle the ups and downs of this type of work. But you also have to accept the fact that there is a high chance you will fail at this, yet you choose to go after it anyways.
- Just Give It a Shot:
There is so much you can accomplish in entrepreneurship without spending a ton of money or resources. Start taking the first steps now. If you are taking the initiative, you will find that there are others willing to come along side you to help take it to the next level.
