Genesis Program Funds UT Austin Student Venture BeepBeep Advertising
The Genesis Program has provided a capital award to University of Texas at Austin student Freddy Purches to further develop his venture, BeepBeep Advertising. The company aims to catalyze a new channel for businesses to advertise by leveraging ride-share/food-delivery vehicles for advertising space. BeepBeep Advertising creates and facilitates the engagement between drivers and businesses, manages logistics, and captures actionable metrics so that companies can quantitatively assess their reach. Purches has established a win-win situation for both drivers and the businesses seeking exposure as drivers earn more money per mile doing something they already do: drive for a ride-share or food delivery service, and businesses gain access to an emerging advertising platform with high levels of exposure. “We are excited and look forward to helping Purches and BeepBeep Advertising grow this venture and learn through applied education,” said Genesis Program Director of Impact Katherine Allen.
Freddy Purches is a sophomore in the McCombs School of Business. As a freshman, he was admitted to the Freshman Founders Launchpad cohort with BeepBeep Advertising as his venture. In his spring semester, he was admitted to the Longhorn Startup Lab and was also selected to be a member of the Longhorn Entrepreneurship Agency. Purches will use the Genesis Program capital award to execute a field scale test of his Minimum Viable Product to collect and analyze commercially viable data, further proving his model.
“We established the Genesis Program as a platform to bring time, talent and treasure – all valuable resources for innovations, to UT Austin student innovators,” said Jacob Cordova, Executive Director of the Genesis Program and Vice President of Strategy for the Longhorn Engineering Advisory Delegation (LEAD). “Freddy Purches demonstrated excellent vision, traction, dedication and professionalism during our assessment process and we are happy to apply our resources to this venture.”
About the Genesis Program
The Genesis Program provides student entrepreneurs and inventors with equity free capital awards ranging between $500 and $5000, enabling them to pursue innovative projects through applied learning. The program is a joint venture idea created by students and alumni and was launched under the Longhorn Engineering Advisory Delegation (LEAD), a Cockrell School of Engineering alumni organization.