The focus of this blog has always been female entrepreneurship – after all, the name of the blog is The Ladies who Launch! But at this unprecedented time of COVID-19, I am pivoting to include male founders, whose stories of how they are adapting to the “new normal” are instructive to budding entrepreneurs everywhere.
Featuring Trey Lewis, Sports Fan and Entrepreneur
Drexel alum, Trey Lewis, grew-up in San Diego, California: a place where the weather is so nice that it was possible for Trey to play outside year-round participating in the sports that he loved. He played every sport under the sun, from swimming to golf to tennis. The only sport he wasn’t allowed to play was football, and with all the headlines in recent years regarding traumatic brain injuries, Trey is grateful to his mom, every day, for putting down her foot.
Trey’s father was an entrepreneur and he encouraged Trey’s innate entrepreneurial spirit. When Trey was ten, his dad asked him if he would ever consider following in his footsteps. Trey thought he was joking – he was too young to see himself someday in the same position as his father. It wasn’t until college that Trey realized that he had inherited his dad’s entrepreneurial drive.
Trey chose to attend Drexel University for two reasons: 1) the four seasons and 2) its Co-Op program. The thrill of everyday life in a northeastern climate quickly wore – off, but the Drexel Co-Op program proved to be a positive. Trey was able to hone his skills in the real world and these experiences cemented his belief that a person can learn more in practice than in theory. One of his Co-Ops included an opportunity to grow his business at Drexel University’s Close School of Entrepreneurship’s Baiada Institute, where he was given office space, access to technology, expert advice from mentors, and a stipend.
Trey was awarded this Co-Op experience for a business that he began in high school with a friend, who was a business fanatic. His friend specialized in stocks, and by the age of 16, had amassed a portfolio worth thousands of dollars. They combined their passions and started SportsStock – a fantasy sports stock market. The premise behind SportsStock was this: sports teams acted as companies in the stock exchange; every team had a monetary value and that value changed depending on their performance on the field. Users of SportsStock could buy into a team with the goal of buying low and selling high.
There proved to be many complications with the development of SportsStock, and Trey decided to pivot. He created a new business – a sports betting app with a twist – and named it WeWager. WeWager is a social sports betting platform, where social media users can connect, compete, share, and participate in peer-to-peer sports betting with other sports fanatics.
As with many small businesses and start-ups, COVID-19 changed WeWager’s trajectory. The sports industry continues to struggle with the complex problem of how to combine public sports competitions with safe social distancing measures. Live sports events, at present, are non-existent, throwing the whole premise of WeWager into question. Trey credits The Close School with teaching him how to take a terrible situation and turn it into a positive: the WeWager team chose to see COVID-19 as an opportunity instead of a hindrance. WeWager shifted its focus to eSports. eSports is an up and coming sports sub-industry that everyone is watching, even prior to the Pandemic. WeWager is now positioned to become one of the premier sports betting platforms within eSports. Users of the WeWager platform can remain safe while still doing what they love. With this pivot, opportunities for funding and marketing opportunities have increased, along with access to other resources.
As for the future of WeWager, Trey writes, “WeWager is a lifestyle career that I will not only love developing every single day, but it is a company that can also make an impact in the world. This is what makes an entrepreneur an entrepreneur: the ability to see a product as something much larger than anyone else can see it.”
Trey Lewis and WeWager are the featured entrepreneurs on this week’s Proving Ground Pop Up. They will also be the guest this week on Drexel’s Stay-Cation Summer Interview Series on Wednesday, July 22 at 1pm (RSVP here). Trey and WeWager are on Social Media! Website: https://wewager.io/ Instagram: www.instagram.com/wewagersports/