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Class of 2018

Wayne Culbreth

Wayne Culbreth, CEO and co-founder of FIX, came to TRIUM as a combat veteran and serial entrepreneur with a draw towards international relations and global political economy— and a burning idea for a startup.

FIX, a meal-kit delivery service that disrupted the way existing services were executed.

With this idea as the springboard for his TRIUM Capstone Project, Wayne and his Capstone team built a business plan and incorporated the company during the program, raised an angel round of funding soon after graduation, and began operations a few weeks later.

I came to TRIUM fully intending to leverage the platform to launch a company,”  he said, and credits the diversity of his experienced cohort team and TRIUM’s engaged, global alumni network as all key factors in the successful launch and growth of FIX.

Wayne recently spoke with TRIUM about the value he’s found in the relationships with his cohort and alumni network, his plans for FIX’s growth and future, and what advice he would give to anyone considering embarking on the TRIUM journey.

What first attracted you to TRIUM and what were you most looking forward to/hoping to achieve?

The reputation of the three schools backing the TRIUM name was compelling. I believed that access to those three alumni networks, in addition to the TRIUM network itself, would be worth the cost of the program alone.

Why did you choose TRIUM over other similar global executive programs?

For me, the LSE module on Business in the Global Political Economy differentiated TRIUM from all of the other top-ten programs. To be successful at a senior level in today’s business environment, one must understand the context of political economy across markets to make informed business decisions. Of equal importance to me was the entrepreneurial focus of the program through the Capstone. You may find other programs with one of those two features, but TRIUM is certainly the only one with both which provides such a unique perspective.

You will find no better collection of classmates and professors than the TRIUM program anywhere in the world.

How did the relationships with your cohort shape your experience with TRIUM?

The cohorts of TRIUM are very senior in comparison to other programs I considered. As such, I anticipated that most would be too busy with professional obligations to truly engage in the course at a deep level. I was surprised by the intensity of the commitments to the program across the board and by the depth of relationships we built as a class even though we were only physically together for a handful of weeks.

Congratulations on the launch of FIX! The idea grew out of your Capstone Project – tell us about how the company evolved from idea to Capstone to where it is today.

I came to TRIUM fully intending to leverage the platform to launch a company. The TRIUM application included a requirement to present an idea for a Capstone Project and a version of FIX was part of my initial application. Early on in the program, I recruited a team with specific backgrounds, each complementing one another. This unbelievable team helped me develop the plan, which would have been impossible to do outside of TRIUM.

A pivotal event for me was our Module 2, which included a visit to Singularity University. That session really opened my eyes to what was possible – and we greatly expanded the reach of what we were attempting to build. We all approached the project with a deliberate goal to launch the company. We incorporated during TRIUM, raised an angel round of funding shortly after graduation, and began operations a few weeks later.

Meal delivery kits are a growing and crowded field. How does FIX stand out?

In our market research during the Capstone, we found that consumers loved the promise of meal kits: great recipes with pre-measured ingredients ready to cook. We also found that consumers hated the execution of meal kits: food delivered via mail, forced subscriptions and limited menu options. FIX took a completely different approach. We took every negative about meal kits and did the opposite. I compare what we’ve done with meal kits as to what Dell Computer did to the PC industry. Every component is modularized, and our meal kits are created via an automated just-in-time assembly process. This capability allows us to assemble thousands of recipes simultaneously, so our menu options are basically unlimited. It’s really the game changer that allows us to compete at a different level.

Finally, because our system provides for unlimited menu options, we positioned our brand as a platform for chefs, food bloggers, cookbook authors – really any creative in the food space. With FIX, our chefs can deploy their recipes as meal kits with no investment in infrastructure. We handle all of the supply chain, ecommerce and fulfilment. The chefs on our platform bring their followers with them as customers, so our CAC spend is negligible. This is a massive competitive advantage over the other players in this space.

What is your vision for FIX’s growth? How will you rely on your TRIUM education and network to grow the company?

We will focus on the US domestic market for the immediate future, but international expansion is a key part of the roadmap. Today, we’re leveraging the TRIUM alumni network for capitalization, which is the lifeblood of a startup. As we expand into other geographic markets, the TRIUM network allows reach into any country we want to be in.

TRIUM – particularly your Capstone – was a launching pad for this exciting new venture. Aside from FIX, how did TRIUM add value to your career?

TRIUM has provided incredible value from both the coursework and the professional network I am now part of. I have great relationships with classmates in countries around the globe because of TRIUM.

What advice would you give to anyone considering TRIUM?

You will find no better collection of classmates and professors than the TRIUM program anywhere in the world. I highly recommend the program to anyone contemplating transitioning from the corporate world to startups. TRIUM is unparalleled in the entrepreneurial focus.

How would you describe your TRIUM experience in three words?

Startup launch pad.