Amolegbe says it gives students a cashless experience without visiting a bank. Through Dot, students will be able to enter over 1,500 stores, give the cashier cash and their account will be immediately funded on a virtual card that can be used for peer-to-peer transactions. Students can also then send and receive money as well as manage their personal finances. Amolegbe compares it to Venmo but with the ability to fund your account with cash. In addition to being accepted into accelerator programs, including the Nasdaq Milestone Makers program, which featured Amolegbe’s photo on Nasdaq MarketSite in Times Square, he says Dot has received significant angel investments and credits from Microsoft. He also was assisted by the Baker Institute for Entrepreneurship, Creativity and Innovation, winning the Joan F. & John M. Thalheimer ’55 EUREKA! Award for Student Achievement in venture creation and the Thalheimer Grand Aligning with its new strategic plan, Inspiring the Future Makers, Lehigh has created an Office of Entrepreneurship to foster greater clarity and coordination of entrepreneurship-related programs across the university. It is headed by Lisa Getzler, newly named vice provost for entrepreneurship. The office serves as a hub for the institutes, centers, programs and initiatives, such as Ventures Lab, that provide learners and founders with the entrepreneurial knowledge and skills needed to differentiate themselves and make an impact in the world. In creating an environment for innovation, the university aims to instill students with an entrepreneurial mindset, as well as aid students, faculty and alumni in venture creation and launch. “Supporting founders as they grow their startup companies is an important addition to the entrepreneurial ecosystem at Lehigh, and at the same time, Lehigh encourages all to think entrepreneurially,” Getzler says. “Through programs like Startup Academy, the Hatchery, EUREKA! and Design Thinking for Future Makers, to name a few, Lehigh offers a variety of avenues to explore that way of thinking to students from all disciplines. In that manner, graduates will be able to approach real-world problems with creativity, generate bold new ideas and make a direct impact on communities, organizations and institutions.” SCAN TO LEARN ABOUT MORE STARTUPS AND GRADUATES FROM LEHIGH VENTURES LAB. Prize of $5,000. Due to his progress with Dot, Amolegbe says it was suggested that he apply to Lehigh Ventures Lab, which would be able to support him at the advanced stage of his venture. Lehigh Ventures Lab, he says, has supported him in many different ways as he nears the launch of Dot, providing workspace, collaboration and financial assistance. For someone who is working with a team on the other side of the world, having access to a 24/7 physical workspace at Lehigh Ventures Lab has been an asset. Amolegbe also has received a $10,000 grant through Lehigh Ventures Lab and received coaching and mentoring. Kauzmann, whom Amolegbe began working with before joining Lehigh Ventures Lab, is his direct coach. And Amolegbe also praised the community support, specifically Founders Circle, a weekly facilitated peer group conversation. Private testing of the Dot app will be conducted, and Amolegbe hopes to launch publicly by summer. Once established in Africa, Amolegbe says the plan is to expand beyond the continent and target immigrants—whether students, workers or asylum seekers— in other emerging markets, such as Latin America or Europe. “We’re not inventing anything new,” Amolegbe says. “We’re just piecing together all the different technologies that are already existing and trying to form something new out of the credit system.” L For immigrant students specifically that are coming to a new country for the first time ... to help them figure out all these bits and pieces, this can be really difficult. – ABDULRASAQ (DULRA) AMOLEGBE ‘26 A New Vision Lisa Getzler FALL 2023 | 41
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