Venture Capital Student Teams’ Innovative Ideas Win in Annual Business Plan Competition |

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Innovative solutions to improve life after COVID was a collective theme at Washington State University 19th Annual Business Plan Competition Thursday April 28. Four of the top five college teams have developed apps that address issues ranging from health care and scholarships to improving event parking, benefiting anyone with a mobile device. The other team in the top five has developed a superior cheesecake business – benefiting everyone.

PULLMAN, Wash., April 29, 2022 /PRNewswire-PRWeb/ — Innovative solutions to improve life after COVID was a collective theme at Washington State University 19th Annual Business Plan Competition Thursday April 28. Four of the top five college teams have developed apps that address issues ranging from health care and scholarships to improving event parking, benefiting anyone with a mobile device.

The other team in the top five has developed a superior cheesecake business – benefiting everyone.

Bloom walked away as winner of the Herbert B. Jones $15,000 great prize.

Developed by WSU Senior Engineers Zaya Tsengelmaa and Danielle Hurleythe application corresponds to first generation students in washington state with regional scholarship providers, increasing their chances of getting a local scholarship that has been overlooked by national scholarship websites.

The WSU Center for Entrepreneurship (CFE) hosted the multi-stage hybrid competition where 110 student teams competed in three different leagues, representing nearly 297 middle and high school students from around the world. Washington and Idaho. More than 120 entrepreneurs, investors and industry leaders joined virtually and in person to judge the competition.

The Open League and High School League Venture teams participated in two all-virtual rounds, a screening round and final presentations on friday april 22. WSU College League Venture teams competed virtually in two preliminary rounds where the final five teams qualified for the in-person final held on the WSU campus, Thursday April 28.

Student teams pitched their business ideas and competed for cash and in-kind prizes totaling more than $75,000.

Winning teams from all three leagues were invited to an awards banquet with the keynote speaker Trey Lauderdale, serial entrepreneur and investor, immediately following the College League Finals. In addition to Grand Prize winner Herbert B. Jones of the College League, two other teams won first place and grand prize money at the awards banquet.

the University of Washington The Ultropia team won first place in the Open League. Led by co-founders Cody Birkland, Lloyd Dee and Amy SwansonUltropia is developing the first all-in-one ultrasonic washer and dryer that will help people with limited access to washing machines.

In the High School League, Perfect Pillow won first place. Sammamish High School Students Corentin Oger, Kelan Palmer and Chetan Sidhu are the co-founders of Perfect Pillow, a company that sells custom pillows.

The student enterprise teams participating in this year’s competition represented diverse academic and socio-economic backgrounds, disciplines, genders and ethnicities. The founding teams represented more than 20 different academic disciplines, including construction management, multimedia journalism, electrical engineering, hospitality, software engineering and many more. Additionally, the teams included many traditional and non-traditional first-generation students, student-athletes, and business students.

“I am continually impressed by the high caliber teams that enter the competition each year and the innovative ideas they present,” said Mary Mayes, director of the WSU CES. “I am even more impressed by the diversity within our founding teams this year, many of whom are not drawn from traditional business fields of study. Their success speaks to the value of business education as a complement to the business field. “A student’s primary studies. An entrepreneurial mindset prepares students for success in existing businesses and startups.”

Ideas presented by this diverse group of students included a portable, battery-powered ice pack, image processing services to assess damage to rental cars and homes, and a recycling shower using less than two gallons of water. water.

Professionals from academia and industry judged the teams based on:

· Development of a solution for a customer problem

· Competitive advantages

Teams were also assessed on the merit of their business ideas and plans.

In addition to sponsoring the grand prizes, the Herbert B. Jones Foundation has sponsored merit awards worth $2,500 each for the best written plan, the best presentation, the best technology company and the best social impact company. Boeing Employees Credit Union (BECU) sponsored a FinTech Merit Award, given to the team that pitched the most innovative idea in fintech. In the high school league, the Morning Star Foundation sponsored all prizes except for the grand prize, which is sponsored by the Herbert B. Jones Foundation and Idaho Capital Ventures.

An app that connects first-generation Washington State college students with regional scholarship providers, increasing their chances of securing local scholarships.

A social media platform that helps students find campus activities and events that help build friendships and connections.

An app that provides personalized health and fitness regimens based on food sensitivity.

4. Syr’s signature creations, $4,000

A gourmet cheesecake company that offers fresh, preservative-free, special-order and sliced ​​desserts in the Pullman region.

A peer-to-peer mobile app that connects residents of cities and crowded urban areas who need parking with those who have parking spaces for rent.

The first all-in-one ultrasonic washer and dryer to help people with limited access to washing machines.

1. Perfect pillow, $5,000

2. Coal Lumber Co., $2,000

Professional firewood and tree felling company.

3. Freeze on the go, $1,000e

A portable, battery-powered ice pack.

A unique culinary and social experience that combines frozen yogurt with casual or competitive games.

5. The jewelers of the Forge, $250

An online jewelry store that sells rings, earrings, and necklace pennants and takes customer enquiries.

Best written plan: GUT CHECK, $2,500

Best presentation: Bloom, $2,500

Best Technology Venture: tied: DWN and RetroSpect, $1,250 each

Best Social Impact Business: Bloom, $2,500

BECU Best FinTech: Bloom, $5,000

Mary Mayesdirector, Center for Entrepreneurial Studies, WSU Carson College of Business, 509-335-5628, mmayes@wsu.edu

prosecute McMurraydeputy director of communications, WSU Carson College of Business, 509-335-7578, continue.mcmurray@wsu.educated

Mary MayesDirector, Center for Entrepreneurship, WSU Carson College of Business, 1-509-335-5628, mmayes@wsu.edu

Sue McMurrayassociate director of communications, WSU Carson College of Business, 509-335-7578, sue.mcmurray@wsu.edu

SOURCE Center for Entrepreneurship, WSU Carson College of Business


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