Co-Founder And Ceo, Ilumi Solutions Inc.
Egan knows what it takes to transform a vision into a successful business. After working for several years in marketing and operations management, Egan along with Swapnil Bora, MBA’11, co-founded iLumi Solutions Inc., and designed an intelligent multicolor LED light bulb that is wirelessly controlled, programmable and customizable with a mobile application. In 2010, they won the UT Dallas Business Idea Competition that the Jindal School-based Institute for Innovation and Entrepreneurship sponsors every year, and they are committed to transforming and improving how we use lighting.
Tell us the highlights of your professional career. What are your proudest achievements?
There is something uniquely fulfilling about having an idea and turning it into a reality. It was a really scary moment in some respects — but very exciting as well — to quit a great full-time corporate job to dedicate myself to building a great product and a sound business in iLumi.
What brought you to UT Dallas?
As a Dallas native, I always knew UT Dallas was in my backyard but never really gave it a thought until considering my MBA. When I did come to campus, I was immediately struck with the level of intelligence, diversity and humility that the students and faculty shared. It just felt right.
What is your favorite UT Dallas memory?
Surprisingly, for an 18-month program, I have many favorite memories. Some include visiting local businesses, soaking up the culture on our class-study trip to Barcelona, winning the business idea competition and maybe just the simple staying up all night in the library or Café Brazil to ‘get it done’. I truly enjoyed the full experience at UT Dallas.
Who was your favorite professor and/or what was your favorite class and why?
Again, how can you pick? I really enjoyed Marketing Management with Dr. Ram Rao, professor of marketing; Forecasting Industry and Technology Futures with Dr. Yoram Solomon, an adjunct lecturer in technology and industry forecasting; and Entrepreneurial Finance with Dr. David Springate, academic director of the Executive MBA program and director of the Jindal School’s Center for Finance Strategy Innovation. I would say that Managerial Accounting with Dr. Suresh Radhakrishnan, professor of accounting and information management and director of research for the Jindal School’s Institute for Excellence in Corporate Governance, had the biggest impact on me. It was my first MBA class and a new subject. I really had to work hard to do well in the class and earned a B+. It set a precedent for my work ethic and focus, which served me well as it was the only B that I received in graduate school.
What do you enjoy doing in your free time?
One of the great things about the Full-Time MBA program is it’s immersive. I filled up my schedule with as many crazy activities, events, competitions and internships as I could. But I always found some time to spend with my wife, family and friends and shoot some hoops every now and again.
What advice do you have for current students hoping to succeed in the business world?
I would tell students to embrace your vision and put in the hard work. Not only will it get you where you want to go, but people will be there to help you along the way.
What makes an effective leader?
I believe that an effective leader must know when to speak and when to listen. Learn more about iLumi Solutions Inc
