Family Innovations Summit

Navigating Growth, Transitions, and Exits

The Smith Family Business Initiative at Cornell University, in conjunction with Anchin, announces the Family Innovations Summit on Wednesday, May 23. 

The Tata Innovation Center at Cornell Tech, Cornell University's new sustainable campus on Roosevelt Island, NY, will host the first Family Innovations Summit. This event will convene family business owners and leaders in a private and confidential setting to explore “Navigating Growth, Succession, and Exits.”

  • Due to limited space, the summit is reserved exclusively for business owners and members of family businesses. To reserve your space at the summit, please RSVP here.

  • For arriving at and getting around Roosevelt Island and recommendations on where to stay, click here.

  • If you have any questions please contact Babatunde Ayanfodun at ba279@cornell.edu.


AGENDA


8:00 am - 9:00 am | Tata Innovation Center, 11 E Loop Rd, New York, NY

Registration, networking, breakfast


9:00 am - 10:00 am | Room 327

Welcome remarks

Featured: Alan Rosen, CEO - Junior's Restaurant and Junior’s Cheesecake

Alan Rosen '91 is the third generation of the Rosen family to lead the venerable brand, Juniors. Born and raised in New York City, he grew up watching his father, Walter, run the original Junior's restaurant. Today, Rosen oversees the restaurants, retail bakeries, wholesale, and mail-order operations, which generates revenue over $100 million annually. Junior's serves over 5,000 customers daily and sells approximately 20,000 cheesecakes every week. 


10:15 am - 11:15 am | Ownership Forum | Room 327

The Next Great Entrepreneurial Opportunity: How to Identify Market White Space

David Teten - Managing Partner, HOF Capital

The cost of starting a business has trended down to the cost of being unemployed, which means dramatically more startups, and therefore more competition for your startup idea. How do you identify a startup idea that addresses a market others are not serving?


10:15 am - 11:15 am | Business Forum | Room 123

This Gen Perspectives and Challenges

Moderated by Russell Shinsky, Anchin

  • Ashley Fina, Michael C. Fina
  • Jessica Gerson, Gerson & Gerson
  • Michael Stanat, SIS International

Taking on the mantle in the family enterprise is wrought with challenges; changing market dynamics, establishing new leadership, and managing family dynamics. Hear perspectives from three emerging leaders poised for leading their business into the next generation. 

11:30 am - 12:30 pm | Family Forum | Room 327

Why Family Enterprise Thinking Is Crucial To The Future Of Your Family And Business

Ann Dugan - Senior Managing Director of Advisory Services, Family Office Exchange

Are family legacy and innovation incompatible? There are many complexities that come with being a family enterprise. What starts out as a family business gradually evolves into multiple businesses, real estate holdings, and investment portfolios. Balancing the legacy of the family with the needs of the business to grow and innovate requires thoughtful planning and thorough family involvement.


11:30 am - 12:30 pm | Governance Forum | Room 123

Healthy Family Governance: Communication, Vision & Legacy

An intimate discussion with Andrew Tisch '71, Co-chairman, Loews Corporation, and Angela Mwanza MBA '00, Evergreen Wealth Management, UBS

As families grow, the challenge of managing multiple business and financial interests grows more daunting. Healthy family governance provides a space for families, often across multiple generations, to communicate more effectively and plan accordingly. 


12:30 pm - 1:30 pm | Bowtie Promenade 

Lunch

1:45 - 3:00 | Room 123 

After the Exit

Moderated by Warner Babcock, Executive Director, New York City Family Enterprise Center, with Eric Allyn, Former Board Chair, Welch Allyn

Welch Allyn, one of the foremost medical products manufacturers, had been in family ownership for 100 years and four generations. A global leader in the innovation of diagnostic devices, they had also remained a family owned business, until recently. With significant changes in the industry and consolidation in the global marketplace, the Welch Allyn Board of Directors, together with the Allyn family, decided to sell its interest in Welch Allyn to Hill-Rom for $2.05 billion in 2015. Eric Allyn, former Chairman of the Board of Directors, and great-grandson of William Noah Allyn, who founded the company with Dr. Francis Welch in 1915, will share the story of Welch-Allyn, how they arrived at the decision to sell the family business, and what has happened since for the family and business.

Closing remarks


3:00 pm - 4:30 pm | Tata Innovation Center 

Closing reception