The 2024 cohort of ’CUSE50 Alumni Entrepreneur Award winners. (Photo by Chuck Wainwright)

It’s no coincidence that six College of Arts and Sciences (A&S) graduates are among Syracuse University’s top entrepreneurial alumni. Through their liberal arts coursework, they developed critical thinking, communication and problem-solving skills, crucial for those who want to innovate and lead in the marketplace.

For the second year, Syracuse University honored Orange ingenuity with two days of celebration as part of the ’CUSE50 Alumni Entrepreneur Awards. The honorees included founders and leaders from 50 of the fastest-growing alumni businesses for 2024. As part of the weekend’s festivities, students had the opportunity to network with these accomplished alumni during the ’CUSE50 Summit.

Discover entrepreneurial insights from the A&S alumni award winners and see how their Syracuse University experience played a role in their success.

Bryan Rafanelli ’84

A&S | Maxwell Major: Political Science

Rafanelli founded Rafanelli Events in 1996, a company specializing in the planning of a broad spectrum of gatherings, including destination weddings, large-scale corporate events, star studded galas and non-profit fundraisers. The company has become the go-to planner for America’s first families, overseeing the official holiday decorations in the White House during the Obama administration and, more recently, coordinating President Biden’s state dinner.

How did your experience at SU shape your entrepreneurial spirit?

From the very beginning, I immersed myself in opportunities to lead and connect. Freshman year, I joined Delta Tau Delta, a leadership-focused fraternity that introduced me to driven individuals who supported and challenged me. By sophomore year, I was elected president of the Interfraternity Council (IFC), which gave me a broader platform to make an impact, not only within my fraternity but across the entire Greek community.

The connections I built at Syracuse, both through the fraternity and the broader campus community, gave me the foundation I needed to think big and pursue my goals. It was there that I truly began to understand the importance of taking initiative, building relationships and believing in the power of leadership. Syracuse didn’t just give me a degree; it gave me the confidence and tools to forge my path as an entrepreneur.

For students interested in becoming entrepreneurs, what advice would you offer?

My best advice is simple: try everything once and don’t waste time. If there’s something you want to do, don’t say, “Maybe I’ll do it later.” Start now. Waiting often turns into never.

The journey to becoming an entrepreneur isn’t about perfect timing—it’s about action. Every experience, whether it’s a success or a failure, adds to your growth and understanding. By trying new things and acting decisively, you’ll uncover opportunities, learn what works, and build the momentum you need to succeed.

Aaron Krause ’92

A&S Major: Psychology

Krause founded Scrub Daddy, Inc. in 2012. His cleaning product company is best known for their polymer-based sponges which are in the shape of a smiley face. The product gained international fame after being featured on the hit show Shark Tank in 2013. The Scrub Daddy sponge is one of the most successful products ever featured on that show, as the company now has over $900 million in cumulative sales to date. The Scrub Daddy product line has expanded to over 160 items, available in 59 countries and 257,000 retail stores.

How did your experience at SU shape your entrepreneurial spirit?

There are so many very relevant synergies between psychology and business that it should be taught as part of the business curriculum. I feel my understanding of human behavior and desires have totally helped me understand customer's needs, wants and even how to deal with the stress of being an entrepreneur.

For students interested in becoming entrepreneurs, what advice would you offer?

When starting a business, it's most important to differentiate your product or service and try to be the best at what you do and then charge accordingly for that. If you don't focus on profitability and margin and only on high volumes with low margins you won't last very long because so many unexpected issues are going to hit you, and you need staying power!

Jason O’Leary ’96

A&S Major: Religion

O'Leary co-founded Surety Bonds Direct, a bonding agency that offers a wide array of services, including bond rate quotes, bond applications and bond shopping. The company was rated as the Best Overall Surety Bond Company for 2021, 2022, 2023 and 2024, and was recognized on the Inc. 5000 as one of the fastest growing private companies in America.

Reflecting on your experience at SU, what guidance would you offer to your younger self?

If I have one regret when I look back on my time at SU, it’s that I didn’t study abroad or do more with clubs while I was there. My older self would advise anyone at Syracuse to take advantage of those opportunities to meet new people and see the world as the huge diverse place that it is.

For students interested in becoming entrepreneurs, what advice would you offer?

1. Learn what you’re good at, and what you like doing, because it’s going to be very, very difficult. The reality is that you need to be willing to fail frequently. Investigate your failures and determine how you will do better.
2. You don’t have to start your own venture right away. There is a lot of experiential learning to be had working for and with smart people. If you have the opportunity to work with smart people, or exceptional leaders, take the time to learn from those people.
3. You don’t have to go it alone. In my experiences with early-stage companies, the most successful ventures have been partnerships. In the case of Surety Bonds Direct, my partner, Eric Fauerbach, and I communicate constantly, we have complimentary skills, and a tremendous amount of trust.

Ian Brady ’99

A&S Major: Art History

Brady co-founded SoFi (short for Social Finance) Technologies, Inc. in 2011 with a group of fellow graduate students at the Stanford Graduate School of Business. Initially, the company concentrated on refinancing federal and private student loans to provide more affordable options for those taking on debt to fund their education. As SoFi grew, it went on to offer mortgages, personal loans and other financial services. After leaving SoFi, Brady joined Kensho Technologies as an advisor, co-founded and served as the CEO of AVA, a personalized nutrition platform leveraging artificial intelligence and nutrition science, and he is currently the CEO of Hologram Sciences, which is a personalized biotech and health incubator.

How did your experience at SU shape your entrepreneurial spirit?

I met my wife Sonia at Syracuse University. She's supported my entrepreneurial goals to start SoFi and my longer professional career. Make sure you have the right person in your corner.

For students interested in becoming entrepreneurs, what advice would you offer?

If you're thinking rationally, you probably shouldn't do it. You need to convince yourself every day that stopping is not an option. This requires a level of self-awareness (maybe delusion) to understand what all-in means in terms of commitment.

Luis Cadavid ’12

A&S Major: Classical Civilization

A&S Minors: Medieval and Renaissance studies; Russian Language and Literature

Cadavid is Managing Partner of Global Operations at Flower’s House Group, a leading distributor of high-quality, fresh flowers to customers across the United States, Canada, Europe and Asia. Cadavid helps lead the company's strategic direction and manages operations to ensure they align with organizational goals. Outside of working for Flower’s House Group, Cadavid founded 1931.io, co-founded Zoey's Choice LLC and served as a business advisor and consultant for Grow Grandes.

How did your experience at SU shape your entrepreneurial spirit?

I was playing around with my second startup and ventured into the world of flowers while I was at Syracuse University. I participated in many of the clubs and different activities, allowing me to try new things and learn about small businesses.

For students interested in becoming entrepreneurs, what advice would you offer?

Do it. You have nothing to lose. Start with a small, cheap test (don't load up on inventory). If it sells, get more. If not, adjust and get something better.

Ron Balchandani ’16

A&S Major: Economics

Balchandani founded AV Equity Partners in 2020, a global investment firm that manages multiple alternative asset classes, including private equity and real estate. Notable current and past assets include ORCA, The Ritz-Carlton, Hotel Shangri-La, and, most recently, American Logistics.

How did your experience at SU shape your entrepreneurial spirit?

Syracuse helped provide technical skills and a strong network.

For students interested in becoming entrepreneurs, what advice would you offer?

Entrepreneurship certainly isn’t for everyone. The statistics are against you—approximately 90% of startups fail. It’s crucial to understand how to mitigate those risks. Instead of pouring $1 million into a startup, consider acquiring an existing small business so you aren’t reinventing the wheel. There’s a term for this in private equity: buy, then build.

Equally important is your reputation. Guard it fiercely, as it’s one of your greatest assets. And remember the golden rule: never lose money.