IT worker was asked to relocate at his job. He quit & used the severance money to start a business in 90 days

When Corry Banks received a severance offer at his corporate IT job, he didn’t see it as an end but a rare opportunity to build something of his own. Betting his severance on a dream, Banks founded Modbap Modular, a boutique manufacturer of electronic music equipment, and within three months had designed his first product, mapped out his brand, and launched his company. Today, his products are sold in over 40 stores worldwide, spanning North America, Europe, and Asia.

In an interview with Entrepreneur, Banks talked about his journey of having his initial funding come from an unexpected source—his own severance package. He had been asked to relocate for his corporate job but declined, taking the severance instead. “Oddly enough, I felt fine about it and immediately thought to invest in myself using the severance package,” he said.

Banks dedicated the next 90 days to establishing Modbap Modular, focusing on his product design and refining his brand pitch, which helped him articulate his vision to anyone who would listen.

Modbap Modular, which officially launched in October 2020, was Banks’s answer to a gap he saw in the market. As a beatmaker working in the boombap genre, Banks had struggled to find gear that was compact, performance-ready, and tailored for his creative needs.