What do you get when a Computer Science student treats entrepreneurship like a strategist? A multi-million dollar startup. Meet David Monroe Rashid, University of Michigan student and CEO and co-founder of Concord Systems Corporation. Concord Systems is a crypto-focused tech startup that’s been built from the ground up by an all U-M team (until very recently.)
What sets David apart isn’t just that he launched a startup while still a student. He’s scaled it into a profitable venture with a multi-million-dollar valuation, all while actively engaging with CFE and the broader entrepreneurial community on campus.
Concord Systems Corporation has been profitable since early 2025, a rare milestone for any early-stage company, let alone one led by a student. “We are currently in the process of building our advisory board,” David shares proudly, “and have secured some notable figures at a $3.5 Million dollar valuation.”
That kind of growth doesn’t happen in isolation. For David, much of the foundation was laid through an early connection to the Center for Entrepreneurship and the resources he tapped into before even arriving on campus.
Discovery and Involvement with CFE
The entrepreneurial bug bit early for David. Before even arriving at U-M, David did his research on U-M’s entrepreneurial ecosystem. “I was introduced to CFE because I was seeking all the possible entrepreneurial paths through the University of Michigan”, he explains. He arrived on campus fully aware of the opportunities available to him and wasted no time diving in.
From day one, David began shaping his U-M journey around entrepreneurship. He quickly enrolled in courses aligned with the Entrepreneurship Minor, including ENTR 405: Digital Product Design with Professor A. Seidel. The hands-on course takes students from idea to prototype using industry-standard software, while teaching UX/UI fundamentals, team collaboration, and user-centered design through real-world tools and guided workshops. He says this class was “particularly interesting” and valued its blend of hands-on learning, case studies, and workshops.
What Entrepreneurship Means to Him
Through his entrepreneurial education and experiences on campus, David has developed a personal relationship with entrepreneurship. To David, an entrepreneurial mindset means questioning assumptions, embracing failure, and staying persistent. He defines entrepreneurship through three “tenets” which exemplify his dedication to the entrepreneurial mindset.
His first tenet: Question everything.
“The first thing (entrepreneurship) means to me is to accept no knowledge as consensus,” says David. “I have learned to take nothing as truth but that which I have discovered for myself, most often by intense trial and error.”
The second: master failure.
“I believe that entrepreneurs should become master failures,” David says. “I know how funny it sounds, but still!” In true entrepreneur fashion, David isn’t afraid to fail as long as a lesson is learned along the way. “I have seen firsthand how I have been able to ‘fail to the next level’, where you may not achieve the goal you set out to achieve, but you achieve something necessary to continue the pursuit of your entrepreneurship,” he shares.
Finally, think like a general.
“Entrepreneurship has many similarities to battle, and many of the same ideals apply,” he shares. Drawing inspiration from historical figures like Sun Tzu and Caesar, their strategies remind him that preparation is everything, and that success often comes from holding on long enough to benefit from unexpected opportunities. ”The key I have learned is to stay in the game long enough to be around when a slight turn of favor happens, like a phone call about a client, someone asking for a demo, or a new partner joining.”
How CFE Shaped His Journey
David credits CFE professors and courses for shaping his journey and paving the way for his success. “I have received a tremendous amount of support from the professors I have had through CFE,” he shares.
When it comes to courses, David encourages students to be intentional when navigating U-M’s entrepreneurial ecosystem. “The amount of resources and info is really overwhelming, but if you find the right classes, you will find directly applicable concepts and feedback which can save you tons of time, cash, and most importantly, heartache.”
Giving Back to the Michigan Community
Despite balancing classes and running a multi-million-dollar startup, David continues to find ways to give back to the campus community. Earlier this year, he partnered with the Void Tech Club to run a 30-person part-time internship program. Reflecting on the project, David says, “This (program) gave us the ability to try a lot of our business models, and focus on building for the ones that proved most lucrative.”
David also plans to host a hackathon at the end of the academic year to give back to the U-M community that helped him grow. He’s also quick to recognize the Wolverines who played a role in Concord’s early growth.
“Everyone on our team until this month has been a UMich alumni or student. I’d like to shout out the following UMich people (alum/students) who were key in our journey to non final success: Rutvik Parikh (student) former Project manager at Concord Systems, Jiazhen Zhao (alumnus) CTO at Concord, George Li (student) interim COO at Concord, Hybin Park design intern (student) and a special thanks to the many wolverines who helped Concord through Void Tech.”
Advice to Future Entrepreneurs
When asked to give advice to aspiring student entrepreneurs, David’s recommendations are straightforward: come prepared and use Michigan’s entrepreneurial resources wisely.
“I would tell them to bring something to the table. I got the most out of CFE when I could case study with CFE expertise on what I was doing outside the classroom,” he reflects.
He believes that real-world ventures are the best way to make the most of U-M’s entrepreneurial support system.
“Make sure you have a platform for professors and students alike to give you valuable and high-quality feedback. Having a business that you can tie back into your experience at greater University of Michigan and CFE specifically is a major advantage UMich entrepreneurs have that no one else does.”
What’s Next
This year, David has dialed back his academic commitments to focus on growing Concord Systems full-time. The team is deep in execution mode, working on launching their platform, formalizing their advisory board, and exploring new crypto innovations.
His final words? “Go Blue!”
Ready to start building something of your own? Connect with a CFE advisor to start paving your entrepreneurial path.