Concordia University Irvine MBA student Erica Solis, co-founder of California-based fintech start-up MovoCash, was recognized by Orange County Technology Action Network (OCTANe) at its annual Technology Investor Forum (TIF) May 5. MovoCash was selected as one of 10 best in innovation high technology start-up companies to give an investment presentation.
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OCTANE HONORS FINTECH COMPANY CO-FOUNDED BY CONCORDIA UNIVERSITY IRVINE MBA STUDENT
Costa Mesa Woman Earning MBA While Running Digital Currency Start-up
IRVINE, Calif., (May 11, 2015)—Concordia University Irvine MBA student Erica Solis, co-founder of California-based fintech start-up MovoCash, was recognized by Orange County Technology Action Network (OCTANe) at its annual Technology Investor Forum (TIF) May 5. MovoCash was selected as one of 10 best in innovation high technology start-up companies to give an investment presentation.
Each year, OCTANe selects 10 high profile Southern California high technology start-up companies that have raised, or are in the process of raising, early stage capital to give an investment presentation at its signature event, TIF. Companies that have made presentations have gone on to raise millions in seed, early-stage, and growth venture capital. According to OCTANe, between 2007-2014, presenting companies have gone on to raise nearly $387 million.
Enrolled in Concordia’s MBA program since last fall, Solis has been simultaneously serving as co-founder and Vice President, Product & Marketing for MovoCash, the electronic payment system company founded by her father, Eric Solis, in April 2014.
“Concordia’s MBA program has challenged me in ways that I needed to be challenged,” reflects the 28-year-old Costa Mesa resident. According to the millennial, courses seamlessly unfold from the classroom to the board room. “I’ve been able to utilize what I’m learning in my MBA classes and directly apply it to MovoCash, as my dad and I build the company. Every step of the way has felt connected and orchestrated.”
“Erica will say ‘this is exactly what we’re talking about in class’,” shares Eric. The convergence of millennials with tradition is the perfect fit, he says. “It’s vital. Without it, it’s not possible to develop an emerging business model. Erica brings that fresh and innovative way of thinking to things.” After graduation, Erica would like to start another company, or join another start-up.
MovoCash marks Erica’s second start-up company. After earning her undergraduate degree, she was hired by an Aliso Viejo-based start-up home builder as an executive assistant. Eventually promoted to project manager, she was responsible for overseeing residential projects for $2-$4 million homes throughout Southern California. It was there that she heard about Concordia’s MBA program from co-workers.
“I chose Concordia because it was competitively priced, but mostly because of its core values,” shares Erica. “It’s what I was looking for.”
As a child, Erica, eight years old, and her brother, six years old, would accompany their dad to his financial seminars. Both kids would get dressed up to work and to learn. Eric would ask his kids “which way is the stock market going to go?” and they’d reply “up.” He would also quiz them about interest rates and supply and demand.To demonstrate the importance of investing, Eric would tape a $1 bill to the bottom of attendees’ chairs, and tell them that if they wanted to earn a buck, they had to get off their duffs. Attendees would get up, turn their chair over, and take the $1 bill. As participants left, Erica and her brother would stand at the door, say goodbye, and guests would give them their $1 bills. “It was better than a lemonade stand,” comments Eric.
Eric admits that this OCTANe honor would be incomplete without acknowledging the hand of God. To remind him that this work is for His kingdom, Eric has arranged numbers referring to scriptures on the back of MovoCash’s point of service cards. To represent Daniel 4:22 and Psalm 80:3, all cards begin with the digits 422803.
Founded in 2014, MovoCash provides consumers digital currency options using their own mobile phones. Consumers pay for goods and services online or in stores by either redeeming MovoCash cards, or turning their mobile phone into a digital bank, without compromising their personal and financial information, and eliminating the risk of fraud.
About Concordia University Irvine
Concordia University Irvine prepares students for their vocations—their calling in life. CUI offers undergraduate, graduate, doctoral, and adult degree programs in a beautiful Southern California location in the City of Irvine, with online and regional cohort options. Concordia’s undergraduate program is distinctive among universities in California because of its nationally recognized Core Curriculum,and its Lutheran heritage that provides a thoughtful and caring Christian community that lives out the theology of "Grace Alone. Faith Alone." Concordia is a U.S. News Top Tier Regional University and has been named by The Chronicle of Higher Education as one of the fastest growing private nonprofit master's institutions. CUI enrolls over 4,000 students.