A group of five University of Illinois Springfield students won $10,000 in seed funding for their startup, TredBase, during a pitch competition hosted by Innovate Springfield on Oct. 28. The competition featured three entrepreneurial teams pitching innovative ideas.
Kayode Ojedele, CEO and co-founder of TredBase, describes it as âa global edtech solution focused on streamlining tuition management for schools,â which aims to enhance financial transparency for K-12 institutions by automating fee management and integrating real-time data analytics.
âWe aim to provide schools and parents worldwide with a seamless and secure platform while reducing the pain points associated with school fees payments, manual reconciliation and transaction records tracking,â Ojedele said.
He founded the company along with Rodney Ovbiye, Ayomide Onayemi, Olutunde Solabi and Ayobami Ayeni. The funding will allow the team to further develop the platformâs data analytics capabilities, helping schools gain insights into revenue and payment trends.
âWeâre focused on enhancing our user experience based on feedback from beta users, ensuring that TredBase continues to meet the needs of educational institutions worldwide,â he said.
Reflecting on the win, Ojedele expressed gratitude for the opportunities given to him as a student member of Innovate Springfield, a UIS initiative that supports emerging businesses and entrepreneurial talent in the Springfield community.
âWinning this funding validates the hard work our team has put into solving a real problem, and it energizes us to push forward with even more determination,â he said. âItâs an amazing opportunity to bring our vision to life and make a meaningful impact in the education sector.â
Ben Hage, director of Innovate Springfield, applauded TredBaseâs achievements and highlighted the organizationâs commitment to fostering entrepreneurship.
âWe are proud of what TredBase has accomplished,â Hage said. âThey are a group of fantastic entrepreneurs that weâve been privileged to work with in our âStartup Roadmapâ training program. Like the investment weâre making in these UIS entrepreneurs, we are in the planning phases to launch a new venture fund to invest in scalable early-stage startup businesses. We hope to plant seeds for our local economy by helping new businesses form. We believe that supporting these startups today means more jobs, more growth and a stronger local economy tomorrow.â
The event also featured a keynote address by Mark Achler, venture capitalist and former senior vice president at Redbox, who shared insights from his own entrepreneurial journey.
The $10,000 award is contingent on TredBase fulfilling all required terms and conditions.