GradMeet
Indiana University, Kelley School of Business
Industry: Social Networking
Founding Student Name(s): Jack Saltel
Brief Description of Solution: GradMeet is a mobile application designed to help recent graduates build social connections in a new city by facilitating curated group experiences. Using a personality quiz and values-based matching algorithm, GradMeet brings like-minded people together through in-person group experiences, making it easier to form meaningful friendships as they transition into post-college life.
Funding Dollars: $70,000
What led you to launch this venture? During my last semester at Indiana University, I looked around at all of my friends as they were about to move across the country to start their careers in a new city. There were simple questions – “Who am I going to hang out with?” and “how am I going to meet a new group of friends?” – that led to bigger worries of loneliness and frustration.
Like many new grads, I realized how difficult it is to build a social network from scratch in a place where you know no one. It hit me then: this is a challenge nearly everyone faces at some point — moving to a new city by yourself is so tough — especially during the transition from college to a professional career. While there are plenty of apps for dating and social networking, there wasn’t anything specifically designed to help new grads meet people in the same boat: recent college grads starting out in a new city who are looking to explore and make new connections. GradMeet aims to solve this problem by helping new graduates make friends in their new city by facilitating curated group experiences to turn every city into a welcoming community.
What has been your biggest accomplishment so far with venture? I raised pre-seed funding from Elevate Ventures, which provided the capital to take GradMeet to the next level. That pivotal moment made me realize the potential of the company, and I decided to step into this as my full-time role after graduating in May 2024. This summer, my proudest accomplishment was hosting GradMeet’s MVP Chicago Launch Party, which attracted 122 new grads with a modest social media advertising budget. As a non-technical founder, I wanted to validate the concept on a larger scale before investing in the development of our mobile application. To do this, I rented a bar in downtown Chicago to gauge the interest in new grads looking to connect with like-minded peers. The smiles and positive energy confirmed that GradMeet could truly fill this need. This MVP event was the just the start and created a buzz that is continues to drive momentum.
How has your business-related major helped you further this startup venture? Double majoring in marketing and entrepreneurship & corporate innovation at the Kelley School of Business provided me with more than just the theoretical knowledge needed to start a business. It equipped me with a solid foundation in creative design, allowing me to develop compelling visuals and branding that resonate with recent graduates. I learned how to build comprehensive marketing strategies to drive user acquisition across various channels, and how to construct a sustainable business model that scales. Additionally, the course work taught me how to confidently pitch GradMeet to investors and key stakeholders to secure funding.
Which business class has been most valuable in building your startup and what was the biggest lesson you gained from it? The Spine Sweat Experience course at the Kelley School of Business was immensely valuable. It wasn’t just a class; it was an intense bootcamp for entrepreneurship full of sleepless nights, constant pivoting, and learning how to be tirelessly gritty. The course was more than just theoretical practice; the final deliverable was a business plan and pitch to a panel of angel investors and venture capitalists who served as judges. I was awarded an ‘A’ for my final presentation, the James Dye Entrepreneurship Award for Outstanding Entrepreneurial Venture Plan, and $10,000 of non-dilutive funding. The biggest lesson I learned was don’t fear the unknown, lean into it. Embrace what you don’t know and get curious about it.
What business professor made a significant contribution to your plans and why? Professor Regan Stevenson laid the foundation for my entrepreneurial journey by teaching invaluable lessons during the “Spine Sweat Experience.” His guidance and mentorship helped shaped my mindset, teaching me to lean into uncertainty, tackle challenges head-on and to constantly switch between different facets of the business. I felt confident being open to failure, learning from my mistakes, iterating, and trying it again in a different way. He taught how you can fail fast and fail cheaply, meaning you must find ways in which you can test your idea that requires little capital and lots of time. I learned how to be open to change and allow my vision to grow with each lesson. You have to trust that uncertainty is part of the process, and it’s where the best opportunities are found.
What founder or entrepreneur inspired you to start your own entrepreneurial journey? How did he or she prove motivational to you? The greatest inspiration for my entrepreneurial journey has been my father, Doug Saltel. Watching him build his own career and navigate the challenges of entrepreneurship instilled in me a unique passion and drive to create something of my own. His relentless work ethic and determination taught me the value of persistence and resilience, especially when faced with uncertainty. My father has always encouraged me to take risks, dream big, and to rapidly test and iterate ideas. His mentorship and guidance have been a tremendous driving force behind GradMeet’s development.
What is your long-term goal with your startup? The long-term goal with GradMeet is to expand to major cities across the U.S. and beyond, becoming the go-to application for new grads who are moving to a new city to start their career to combat the growing loneliness epidemic among young adults. By leveraging in-person group experiences, GradMeet aims to eliminate the awkward barriers of meeting new people and truly build authentic friendships. In the future, I aim to build strategic partnerships with local businesses, event venues, and large corporations that hire recent graduates. My vision is to redefine how new grads navigate the start of their post-college life by providing a solution to ensure that no one has to face the loneliness of a new city.
How has your local startup ecosystem contributed to your venture’s development and success? Bloomington’s startup ecosystem, particularly IU Innovates and The Mill, has played a crucial role in GradMeet’s development. Over the summer, GradMeet was selected to participate in the Startup Summer Accelerator at The Mill, an incubation program for collegiate founders. Through this program, I got to immerse myself into the Bloomington and greater Indiana entrepreneurship community, gain access to resources, mentor swarms, and amazing networking opportunities. IU Innovates is a student entrepreneurial ecosystem located within the heart of Bloomington, where I work as a Founder-in-Residence and help mentor students build their ideas to fruition. Being immersed in both The Mill and IU Innovates entrepreneurial communities has given me the opportunity to engage with a diverse network of innovates at every stage.
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