Ronnen Harary, the co-founder of the Canadian toy company Spin Master, led a pitch competition and discussion at Penn last week.
During an Oct. 8 fireside chat hosted by the Wharton Undergraduate Entrepreneurship Club, Harary discussed his experience growing a global business and encouraged students to pursue their own startups. Prior to the event, 15 students were each awarded $500 to kickstart a startup within one week after presenting a one-minute pitch.
The discussion is part of Harary’s campus tour following his first book’s July publication. Penn was his first stop, and students were able to join his larger “No Experience Necessary” campus challenge.
The challenge allows students at 22 different campus stops on the tour to participate in a small competition among peers at their schools to win a $500 grant. Using that money, they have one week to build a startup and submit their fully fledged pitch. Finally, 30 of those students will be chosen to participate in the larger competition for a change to access a $25,000 grant.
In an interview, Harary expressed belief that with the right momentum on a project, “magical things happen.” He added that people in their 20s can harness an “incredible energy” from being “so close to the zeitgeist.”
Harary began Spin Master, an entertainment company, at 23 years old. He later co-created PAW Patrol and Bakugan.
He said that he was amazed by the “high amount of passion” at Penn, where he listened to 32 student pitches.
“You hear that people are very despondent about their futures, but not here on this campus,” Harary said. “What surprised me was the consistency of the message of people wanting to do something for themselves in the future, and had a lot of vigor and passion to make it happen.”
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College junior Meilun Yu, co-president of WUEC, was in charge of organizing the event.
In an interview, she expressed hope that Harary’s competition and speech “encourage students to be able to start their business right now, even before they finish their degree.”
She added that although there are many resources for entrepreneurs on Penn’s campus, she doesn’t “think the culture on campus promotes entrepreneurship as much as it promotes other industries.”
Wharton and Engineering sophomore Alice Jiang, co-president of WUEC, was the event moderator.
She expressed a similar sentiment — explaining that although some students can “hit the ground running,” others are much more “risk averse” and plan to seek “experience and exposure” in the business world before designing their own startup.
The fireside chat attracted many students from Penn, along with several undergraduates from Temple and Villanova University.
During the event, Harary began by discussing his new book — which was freely distributed to all students in attendance. He expressed hope that his book will act “like a supportive parent,” because “someone rooting for you is the most important thing.”
Harary then provided insights into his journey growing Spin Master alongside business partners Anton Rabie and Ben Varadi.
“We can all play out the downside risk, but the upside is beyond all our imaginations,” he emphasized. “Making the decision to go into business for yourself is the number one decision you need to make.”
The event concluded with a question and answer session and book signing, during which students shared their own startup ideas and asked Harary for advice on numerous topics including creativity, marketing, and investors.
Jiang said that she was happy to help Harary’s team “encourage the younger generation” to pursue their passions.
“They really want to help encourage the younger generation to explore their passions,” she added, when reflecting on the event. “We’re really excited to be able to help them do this through Penn.”
