Twine wins Wharton’s 2017 Startup Challenge

Penn Wharton Entrepreneurship announced the winner of its inaugural Startup Challenge: Twine, founded by Wharton MBA students Joseph Quan and Nikhil Srivastava (both WG’17). The Showcase took place on April 28 on the University of Pennsylvania campus. Twine makes internal mobility within a company seamless by recommending the best employees to fill open roles, helping companies to boost retention and significantly reduce hiring costs by efficiently hiring from within.

Picture: peshkova / fotolia

According to Twine, the average Fortune 500 company loses $100 million in undesirable, preventable employee turnover each year. Twine’s algorithm matches internal employees with open roles, helping individuals grow their careers within a company, saving the company millions in recruiting and training. Twine is a three-time winner of the Penn Wharton Innovation Fund and a member of VIP-Xcelerate, Penn Wharton Entrepreneurship’s new intense, four-month accelerator program for student ventures that are ready to launch; applications are by invitation only.

Twine was chosen at the Startup Showcase, a new version of the Wharton Business Plan Competition, showcasing the best student-founded startups from across the University of Pennsylvania. Eight finalist teams in the Startup Challenge were chosen from 29 semifinalists, after pitching in closed-room sessions to panels of alumni entrepreneurs and investors. The finalists pitched to a live audience and a panel of judges for over $135,000 in cash and prizes to help them launch their startups.

Barbara Barkhausen