Entrepreneurs use Venture & Innovation Center resources to create new technology projects

Two new technology projects supported by St. John’s University Venture & Innovation Center (VIC) and supported by students and recent graduates, could soon be accessible to members of the university community.

Financially Lit, a financial literacy app aimed at college students and developed by sophomore-to-be Alexandra Cicala, could be available as early as late summer, before most students return to college. QueensNY, campus.

Meanwhile, ChipServer, a portable, Wi-Fi-based file sharing server, has been developed by a local entrepreneur and is currently being tested by two recent graduates and Anthony Brandimarte, a current student in The Peter J. Tobin College of Businessshould follow shortly thereafter.

Both projects are in the testing phase after receiving technology, marketing and networking support from the VIC, which opened on the St. John’s campus earlier this year.

“My app has truly been a once-in-a-lifetime opportunity that wouldn’t have been possible without the VIC,” Alexandra said. “I’ve connected with several key resources inside and outside of St. John’s. These networking opportunities where I can discuss my app have been especially important.”

ChipServer is being tested for vulnerabilities and other security issues by Nicholas Sakatis ’24CCPS and Rafael Haque ’24CCPS. Nicholas is studying its applicability and potential markets. “It’s a very versatile app that can revolutionize travel and entertainment,” he said.

About St. John’s University’s Venture & Innovation Center

Housed on the first floor of Tobin, the VIC is the latest initiative in the university’s commitment to entrepreneurship, business development and experiential learning. Led by Director James M. Kinsley, MBAProfessor of Management, Entrepreneurship, Consulting and Operations (MECO) at Tobin provides entrepreneurs inside and outside of St. John’s with business resources and product development support, including space for product development, marketing strategies and even financing.

Alexandra’s app offers financial advice on topics that interest students, such as debt repayment, ways to save money on campus, how to manage a part-time job while in school, and strategies for dealing with finances after graduation. Additionally, the app rewards students who complete literacy modules with financial incentives that can be redeemed on campus for textbooks, food, and more.

Student-developed financial literacy app

A member of the Thomas J. Cox, Jr. Honors Program and the Catholic scholars program, Alexandra came up with the idea during a high school social studies conference in 2021.

“That experience and others gave me a fundamental understanding of what financial literacy looked like in America,” said Alexandra of Westfield, N.J. “We talked about how just about 25 percent of university students believed they had sufficient knowledge of finance.”

Alexandra used VIC’s resources to research the market, develop a business plan, refine her pitch, meet with an app developer, and connect with industry leaders including Thomas K. Rudzewick, Chief Executive Officer of Maspeth Federal Savings AccountBoth were surprised to discover how few personal finance apps specifically target college students.

“There is a lot of potential here,” she said, “and a lot of room for expansion.”

Mr. Rudzewick and other members of the Maspeth board listened to a financial story from Alexandra earlier in the summer.

“Alexandra’s app has incredible potential to help students become financially empowered,” said Mr. Rudzewick. “We were proud to be asked to participate in the project. Alexandra demonstrates an incredible drive, expertise and entrepreneurship that is rarely seen at such a young age.”

Financially Lit is almost ready with a tentative release date of August 2024. According to her ideal business plan, Alexandra would release the app exclusively to colleges and universities for a licensing fee. The colleges would then offer it to students for free.

Colleges and universities in metropolitan areas will be offered licensing options first before the app is released nationwide. Alexandra has already met with Red storm members of the sports department, who are considering offering the app to student-athletes.

“We always want to provide resources that we think will be valuable to our student-athletes, including their financial education,” he said. John A. Diffley, ed. D.Interim Athletic Director. “The VIC is a great resource for us to collaborate with.”

A portable wifi port

ChipServer’s Wi-Fi port is small enough to fit in a user’s hands. It allows multiple users to share files simultaneously from otherwise incompatible devices, such as an Apple iPhone and a Dell computer. It also serves as a portable Wi-Fi connection, allowing users to access the Internet in areas where conventional Wi-Fi is unavailable.

Anthony sees broad applications for the technology in the developing world, where schools often lack Wi-Fi, and for travelers who want to avoid in-flight Wi-Fi charges. Closer to home, he envisions wedding guests using ChipServer to access ceremony photos on their phones in real time. Current technology requires a USB stick to be plugged into a television at the venue.

Plans call for ChipServer to be released directly to consumers via a merchandising website that the developers are creating. The port will cost less than $200, according to Anthony. The developers hope to eventually offer it to major retailers such as Best Buy And Goal.

“I think it could do the most good in education,” Anthony explained. “We take Wi-Fi in the classroom for granted in this country, but that’s often not the case in developing countries.”

According to Mr Kinsley, these are exactly the innovative production ideas that the VIC wants to develop.

“These are examples of entrepreneurs who had business ideas to pitch and used the resources of the VIC to bring those ideas to life,” Mr. Kinsley said. “Their dedication should inspire all members of the St. John’s community who have ideas they want to pitch.”