ASPIRING ENTREPRENEURS TEST THEIR METTLE WITH CAT TANK
Students Emulate Industry Professionals in VITAL Lab
The best way for CWU students to prepare for what they will be doing as professionals is to use the same tools while they’re still in college. College of Business professors Han Donker (accounting) and Toni Sipic (economics) have fully embraced that philosophy over the past four years with the introduction of the Virtual Analytics Lab, more commonly referred to as the “VITAL Lab.” The virtual lab taps into the Wharton Research Data Service (WRDS), a Windows-driven portal created and maintained by the University of Pennsylvania. WRDS allows industry professionals and students across campus — not just in the College of Business — to access and analyze financial and non-financial market data. “Our students are getting a real- world look at how these processes work at firms,” Donker said. “We are teaching them to dissect actual financial market data, including environmental, social, and governance data, in the same way professionals do.”
Donker explained that most accounting graduates will work in a financial position, such as auditor, controller, tax advisor, or chief financial officer. Most of them will go to work for accounting firms, industry, banks, insurance agencies, government, and institutional investment companies, where they need to understand complex concepts, such as derivatives. Working in WRDS provides them with this incredibly valuable experience. This lab is a great example of a high- impact practice. These are advanced skills that our students can apply when they enter the job market.
“When Toni Sipic and I developed the concept for the VITAL Lab, our goal was to integrate more data into our courses,” Donker said. “With access to this software, we can create assignments where our students can research real-world problems and propose solutions.” Faculty now have the opportunity to engage in applied projects with students, focusing on sustainability, equity, and diversity by utilizing the data provided through VITAL. “This lab is a great example of a high-impact practice,” Donker said. “These are advanced skills that our students can apply when they enter the job market. “Analytics is becoming so much more important in today’s business world,” he added. “What we love about this lab is that anyone can use it from anywhere they are because it’s 100% virtual. But we also like that it is helping all types of students at CWU. As a result, they are going to be much better prepared when they enter the workforce.”
A group of Entrepreneurship 288 students put their heads together last spring to coordinate and execute a university-wide business plan contest called Cat Tank. The 2023 Cat Tank team was made up of five students from a variety of academic backgrounds: Jack Trombetta (industrial engineering and entrepreneurship), Bobi Vladimirov (computer science), Gerardo Castillo (apparel, textiles, and merchandising), Marianna Payne (business administration), and Miguel Gomez (accounting and marketing). Gomez is the CEO and co-founder of the organization and helped coordinate the inaugural event in 2022. Vladimirov won the initial competition and served as president of Cat Tank last year. This year, a new group of students is working together to plan an entirely new event. “Our goal for this competition was to find people who love what they do and want to take their business ideas to the next level,” Gomez said of the contest, an ode to the popular ABC television show, Shark Tank . “We wanted to convince people to follow their passion and structure a business plan they could pursue after the competition.”
The Cat Tank finals were held last May at The Foundry in Ellensburg, featuring 10 contestants and a total prize purse of nearly $6,000. The contest was adjudicated by a panel of 10 industry representatives from Starbucks, Microsoft, Wheatland Bank, BWT Pharma, CWU, the University of Washington, CenterFuse, and others. Mechanical engineering student Boden Parrish won the $3,000 grand prize with his invention for a technology upgrade to mountain bike suspension forks. Cole Smith and Yung Idow teamed up for second place and a $2,000 prize with the Dress In software application, which allows people to see how clothing items fit their individual measurements using a virtual model of the human body. Total prize purse $6,000 10 Industry representatives
Accounting Professor Han Donker helped develop VITAL Lab.
• Starbucks • Microsoft • Wheatland Bank • BWT Pharma
• University of Washington • CenterFuse • and more
$3,000 Grand prize
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