Chloe Katz, Advertising Management Student, Wins $3K in Burgess New Venture Challenge
By: Gabi Gomes
Chloe Katz, a junior at Michigan State University and founder of Pharma Blue Labs, a company focused on cosmetic products for eczema, won $3,000 in the Burgess New Venture Challenge. Katz started her company after a high school business class assignment, where she was tasked with creating a business concept. She chose to address the untapped market of neglected dermatological disorders, inspired by her personal struggles with eczema.
“For years, I couldn’t find products that treated my eczema long-term. It was really difficult,” Katz said.
When Katz began attending MSU in 2021, she decided to study advertising to better understand how to market her company successfully. During the spring semester of her sophomore year, she discovered the Burgess Institute for Entrepreneurship and Innovation, designed to provide students with the tools and resources to start their own ventures.
Through the institute, she connected with a mentor who encouraged her to compete in the Burgess New Venture Challenge. Katz said her advertising classes and mentorship were crucial in the development of her company and her pitch.
“In my classes, I learned important advertising principles and techniques that helped me create effective campaigns that drove brand awareness, engaged my target audience, and ultimately increased sales for my company,” Katz said.
Katz placed fifth in the competition, securing $3,000 for her startup. She emphasized that the key to a successful pitch is having a compelling story.
“If you don’t have a good story and a purpose behind your brand, along with a product people need, or a product that people really need in their lives that has a certain impact,” she said.
The prize money will be reinvested in Pharma Blue Labs to purchase raw materials and packaging, and to manufacture more of their current product, Neoplexial.
Despite the challenges of balancing full-time studies and running a business, Katz said her advertising classes helped her increase online engagement and develop a successful campaign for Neoplexial.
“Good advertising strategies can increase brand awareness, enhance credibility, build consumer trust, and ultimately drive engagement, sales and market penetration,” Katz said.
Katz encourages other students to participate in the Burgess New Venture Challenge and explore the opportunities available at MSU. When asked for advice on how to build a successful business, she emphasized the importance of having a strong team and mentors.
“I would say if you have a good idea that you really believe in, you need to find a good team; you need to have a solid team to be able to take your idea forward.” Katz said. “Networking is key in growing a business because without people, you can’t go anywhere. Consistency and perseverance are also crucial because it’s hard to start a business from zero without them.”