Joseph Oh

FetchMi

ANCHOR INTRO (:55)

A common saying is business is the backbone of Americas economy. While businesses affect
a nations GDP, employment and innovation, they arent guaranteed success.

Recent national trends indicate a high failure rate among startup businesses in the United States.
According to the Bureau of Labor Statistics, 50% of businesses collapse after their first five
years. Over 70% of those companies fail due to a lack of market need and money, alone.
However, entrepreneurs still attempt to create the next big company and find economic
success.

One such business is FetchMi, a new college start-up based at Emory. Founded by Eric Yang
(EH-ric YANG) in 2017, FetchMi functions as an online database that compares online and local
service businesses. The company says its product can make the world smaller by connecting
consumers with services.

Joseph Oh reports on FetchMi: the college start-up that hopes to stake its claim in the business
world. The company that says it can break the trend of start-up failures.

Tape log of sound bites

TRT (4:28)
Eric Yang
FetchMi Co-Founder (1:25)
Kendra Owens
Business Plan Competition Organizer (2:03)
Eric Yang
FetchMi Co-Founder (2:43)
Don Cornwell
The Career Center Director (3:15)
Don Cornwell
The Career Center Director (3:47)
Eric Yang
FetchMi Co-Founder (4:08)
NAT POP OR NATURAL SOUND (:07)

REPOTER VOICER (:23)

On this Saturday afternoon, the FetchMi team struts their long-sleeve, company tee shirts
at the Coding Fair. The event, about teaching coding to visitors, is more than that: its an
opportunity for FetchMi to network.

Yang sits alongside Marketing Officer Will Mears (MEE-rs), who is diligently at work.
They discuss strategies to partner with other companies.

Yang is proud of his teams accomplishment. He believes they are the reason the
company will be successful.

SOUND BITE OR ACTUALITY (:09)

Eric Yang
FetchMi Co-Founder

The single biggest reason our startup will work is one word: team. Thats why I think
FetchMi will work. Its my team and our dream.

REPORTER VOICER (:29)

While the FetchMi team dreams of success, money typically dictates if that comes true

According to Yang, FetchMi is fortunate enough to have currently raised $50,000 from a
venture capitalist in China.

Most startups are not this lucky. According to the Center for Venture Research, only
0.05% of startups receive financial backing from venture capitalists. Twenty-nine percent of all
companies die due to this lack of funding.

But business organizer, Kendra Owens (KEN-dra OH-wens), believes this death rate is more
problematic for student-run businesses.

SOUND BITE OR ACTUALITY (:13)

Kendra Owens
Business Plan Competition Organizer

Being a college student, youre already working on limited funds so you have to be really
detailed, and intentional about how you spend your money anyway.
REPORTER VOICER (:27)

And just as students usually lack money, they also lack professional experience.

Nineteen years of age, Yang resembles what most people would think: a college student.

Yang, along with his team of Emory undergrads, represent a youth movement in the
business industry that is slowly diminishing. According to the Kauffman Foundation, the number
of college-aged entrepreneurs has dropped nearly ten percent in the last 20 years.

Yang understands youth and business dont typically go together. As such, the FetchMi
team has to make sacrifices.

SOUND BITE OR ACTUALITY (:18)

Eric Yang
FetchMi Co-Founder

While we have this huge passion about our startup, we have to put in a significant amount
of time for our startup. That means we have to make some sacrifices. Everyone on the team has
to make some sacrifices. When you sign up for the business, that means you have to sacrifice
time some time for parties and other hobbies.

REPORTER VOICER (:14)

Yang believes such a lifestyle can still lead to success in school and business.

Don Cornwell (CORN-well), the Director of the Career Center, finds it would be arduous
to run a startup and balance schoolwork. He finds that running a business is similar to a full-time
job.

SOUND BITE OR ACTUALITY (:24)

Don Cornwell
The Career Center Director

I think its risky, because it is taking up a lot of time. But I do think youre working eight
hours, then essentially putting in a second eight hours as a student. Thats a good sixteen hours
there. That leaves little time for any social time, extracurriculars, certainly eating and sleeping,
and taking care of yourself and learning to become an adult.

REPORTER VOICER (:08)

Cornwell is not totally dismissing college entrepreneurship. He cites passion as a reason

to pursue this challenge.
SOUND BITE OR ACTUALITY (:11)
Don Cornwell
The Career Center Director

It may not be for everybody. I think it depends on the individual. But if thats what
theyre passionate about, then I can easily see how someone would enjoy the experience.

REPORTER VOICER (:10)

Yang cites their passion and desire as reasons for optimism. He believes, with that, the
entire FetchMi team will continue the companys success for the foreseeable future.

SOUND BITE OR ACTUALITY (:08)

Eric Yang
FetchMi Co-Founder

We all share have a huge passion for the startup. We believe that this is where our future
is going to be, and this is how we are going to achieve our values, through this business.

REPORTER CLOSING (:12)

While the challenges and historical trends are evident, Yang smiles at the thought of the
future. He and his team will continue to strive for that dream.

TAG: Joseph Oh, Emory News Now