Now celebrating its 10th yr, the yearly Small business Idea Opposition at West Chester University welcomes all all those who have business commence-up dreams and huge thoughts to contend for $11,500 in prize money in the 2022 contest.
Concepts that have not nonetheless been commercialized and can be applied as the basis for a new business enterprise are eligible for a single of the 4 tracks in this levels of competition:
- WCU Undergraduates
- WCU Graduate College students, Alumni, Faculty, and Workers
- Chester County-centered Startups
- Chester County Substantial College Pupils
Pattie Diggin, director of WCU’s Dr. Edwin Cottrell Entrepreneurial Management Middle, notes that “This competition provides an prospect for people and groups to examine new and interesting remedies by way of innovative concept progress. It promotes creativity and plan generation by recognizing progressive thoughts for new products, solutions, and know-how. The goals of the competition are to foster thought era and to facilitate commercialization of organization thoughts.”
Participants will be evaluated in two measures. Concepts will to begin with be reviewed by business angels and company advisors. In a rapid-pitch levels of competition on Wednesday, March 30, the major suggestions in each category will be picked for the in-individual Business enterprise Plan Pitch Competitors that will acquire position on Wednesday, April 20, at the West Chester College Foundation, 202 Carter Travel, West Chester.
- Grand Prize $2,500
- First Location Prize in every single keep track of $1,500
- 2nd Place Prize in every keep track of $750
Proof that WCU’s BIC is a springboard to entrepreneurial good results is evident in previous winners from all categories, some of whose strategies have turn into actuality. Just one example is last year’s commence-up monitor initial area winner Gene Williams, whose strategy for Athletes Untapped sports activities coaching platform introduced in August.
An additional is Jake Henry, a junior Honors Pharmaceutical Merchandise Advancement significant and the 2021 BIC grand prize winner with his new undertaking, Lectra, a wi-fi and moveable electrically conductive athletic tape developed for athletes who endure from muscle mass strains. “The University’s Business Plan Pitch Competition was my very first possibility to take a look at my entrepreneurial skillset,” he stated. He later on pitched Lectra at Entre’s Pitch Levels of competition and took next place.
“Throughout the diverse phases of the opposition, I discovered how to generate a profitable elevator pitch and small business product and I received very first-hand experience pitching in entrance of a are living viewers. It has also offered me connections that have assisted me end prototypes, purchase funding for organization ventures and patents, and establish even far more abilities to just take my business from an idea to a marketplace disruptor.”
Henry was also among the the 100 top collegiate business owners in the place who competed at the Collegiate Entrepreneurs’ Group (CEO) People’s Selection Awards in Florida. He attended the meeting with Diggin and Patrick Bassil, a WCU Small business Management and Biology big, exactly where they placed fourth of 35 competing teams in the current market simulation segment.
The 10th once-a-year WCU Small business Idea Competitiveness is co-hosted by WCU’s Dr. Edwin Cottrell Entrepreneurial Management Middle, the Keiretsu Discussion board Mid-Atlantic, and the Bigger West Chester Chamber of Commerce.
The presenting sponsor of the opposition is Meridian Lender, and the Gold Sponsor is Univest.
WCU Organization Strategy Competitiveness companions are Rating of Chester & Delaware County and the Chester County Economic Advancement Council initiative i2n.
Enterprise industry experts, Keiretsu Discussion board Mid-Atlantic Angel Investors, and customers of the Increased West Chester Chamber of Commerce will judge the idea pitch.
Winners will be introduced and awards will be presented at the summary of the Strategy Pitch on April 20.