Crown Heights Start-Ups Learn to Fund Their Dreams

For over a year now, young and aspiring entrepreneurs in the Crown Heights Jewish community have been able to tap into a wealth of resources and knowledge provided by CHYE.

Previous initiatives have included a mentorship program, regular workshops, networking events and a state-of-the-art workspace.

Last week, however, a new chapter in the growth of the entrepreneurial success of the community began.

The event, called “Fund It,” drew some 120 guests, crowding the Getzel’s Shul to the limit. A panel of angel investors and lenders, moderated by CHYE board-member Shmuly Goldman, explored the thought process behind what it takes to get investments in a startup.

Shmuel Gniwisch, one of the panelists, noted the “fearless and outgoing” nature of Lubavitchers as a powerful asset in the startup world.

As to the event itself, Gniwisch was impressed by the caliber of the program. “The panelists were solid – representing different and diverse backgrounds – and the people who showed up were all extremely focused on growing their vision and building something better,” he said.

Fund It was sponsored in part by local Crown Heights business Urban Pads. Shaya Schtroks, who together with business partner Moshe Simpson, runs Urban Pads, was also impressed by the event. To Schtroks, however, the event was far more than a chance to brand his business with Crown Height’s up-and-coming entrepreneurs.

Early in his career Schtroks worked out of CHYE’s business lounge. “Though we’ve only been open for six months,” Schtroks notes, “this was a chance to return to the organization that I benefitted from so greatly.”

Following the panel, two pre-selected startups presented to investors for a chance to win their support and up to $100,000 in venture capital and seed money. Mosheh Poltorak won the favor of the panelists with his new charity database for consumers and brands, BeTrue.

Poltorak had previously received emails about CHYE and was particularly drawn by the chance Fund It offered to connect him directly with potential investors.

“I got some very good feedback from the investors,” Poltorak said. “Now that I know more about CHYE, I’m sure there will be more events I’ll be part of in the future.”

Video of the Panel Discussions:

1st Pitch by Avi Kamman:

2nd Pitch by Moshe Poltorak: