Mokhtarzada Hatchery Startup Incubator Kicks Off New Year of Student Innovation

The University of Maryland's Department of Computer Science organized its annual Fall Mokhtarzada Hatchery kick-off event on Thursday, September 12, 2024, introducing students to the resources and opportunities available through the startup incubator. Held at the Brendan Iribe Center for Computer Science and Engineering, the event featured presentations about the program with Haroon (B.A. ’01, economics) and Zeki Mokhtarzada (B.S. ’01, computer science) and Arthur AI Founder and CEO Adam Wenchel (B.S. ’99, computer science), offering students a chance to learn how the Hatchery can support their entrepreneurial goals.

The Mokhtarzada Hatchery offers student teams up to $10,000 in funding, access to mentorship from experienced entrepreneurs and workspace in the Iribe Center.

The program supports students from the initial idea stage through the development and refinement of their startups, preparing them for entry into the competitive market. The program also provides workspace and access to resources that guide startups through the early stages of development, including product development and market testing.

During the event, students participated in a Q&A session with the speakers. Angela Zhang, a sophomore computer science major, shared her thoughts on the event and what she found most engaging.

"I didn’t actually know what this event was for—I knew it was for startups, but I didn’t realize there were so many benefits," Zhang said. "They gave examples of past startups that went really well, and I thought that was interesting."

The Mokhtarzada brothers, who sold their first startup, Webs.com, for $117.5 million in 2011, continued their entrepreneurial success with Truebill, a subscription management app sold to Rocket Companies for $1.3 billion in 2021. Their experience, along with Wenchel’s expertise in artificial intelligence and tech entrepreneurship, provided valuable insights for students considering the Hatchery program.

Kaushik Reddy, an applied engineering graduate student, expressed interest in the mentorship opportunities offered through the program, noting how it could help him refine his business concept.

"Honestly, the mentorship is what I look forward to most," Reddy said. "These guys have done really well in the field of tech, so having them as mentors could really help me develop the right product for the right customers."

Reddy’s startup idea focuses on providing outsourced cloud services for companies that need assistance managing their cloud environments. The support from the Hatchery, he said, would help him develop a viable business model and connect with potential clients.

For some students, the most valuable aspect of the Hatchery is the opportunity to engage with the entrepreneurial ecosystem.  Samai Patel, a senior computer science major, stressed the importance of networking for a startup’s success.

"The kickoff event was really informative," said Patel, the executive director and co-founder of App Dev, a UMD student club. "We had the chance to ask questions that could impact our business, which we've been seeking answers to for a long time. The Hatchery will place us in a strong community and help us find product-market fit through connections in the DMV area."

Patel, whose team recently interviewed with Y Combinator for its winter batch, sees the program as a pivotal step for their startup. He emphasized the value of mentorship as they work to refine their product and expand their reach. While the Mokhtarzada brothers fund the program, their role as mentors and advisors is often seen as one of its most significant benefits.

For Zhang, the event was a turning point in her outlook on entrepreneurship.

"I wasn’t even thinking about doing a startup," Zhang shared. "But once I got here and saw how many people had experience and a vision for what they wanted to do, it really inspired me. I don’t know if I’ll start something today, but I am really considering it."

—Story by Samuel Malede Zewdu, CS Communications 

If you're interested in this year's Mokhtarzada Hatchery program, click here to apply.