04 Mar 2021

Get to Know FlashCash, a Business Track New Venture Competition


With the New Venture Competition (NVC) finale right around the corner (be sure to register and tune in March 30 at 6:00 pm), learn more about team FlashCash, whose technology allows consumers to pay their bills with a phone camera’s QR code reader rather than cash or credit.

Team members: Chuck Nadd (MBA/MPP 2021),Pavel Vydra, Bohuslav Simek

What inspired you to start your company?

We saw that a lot of Americans, particularly small business owners, were being left out of the digital payment revolution or being charged exorbitant rates to participate in this new way of doing business. We saw this as an opportunity, both economically and for underserved parts of our country.

How has the Rock Center helped with your entrepreneurial journey? Are there any other HBS resources that you have been using?

The Rock Center has been tremendous as a networking vehicle. The Entrepreneurs-in-Residence have been particularly helpful in showing us how to avoid common pitfalls, while sharing their own lessons learned with our team.

How have you been preparing for the competition?

We have been constantly iterating our product (particularly the onboarding process) and refining our pitch so it accurately highlights the societal impact that FlashCash will have and how we can deliver on our vision in such a short period of time.

What part of the NVC journey has been the most helpful for your team?

Coaches have helped us hone our focus and highlighted the areas that are not at the standard they need to be.

How did you go about creating your competition pitch? Do you have any advice for someone looking to create a pitch?

We did what all entrepreneurs should: Spoke about the problem in a genuine, visceral way. If you are not able to frame problems in a way that sounds like it matters to you, why should people trust that you will be able to make this your life's work (for at least 2-5 years)?

What advice do you have for aspiring entrepreneurs?

Trust your gut. If someone tells you something is not possible, find the way to make it happen!

Post a Comment

Comments must be on-topic and civil in tone (with no name calling or personal attacks). Any promotional language or urls will be removed immediately. Your comment may be edited for clarity and length.