Four entrepreneurs will pitch business plans to a panel of judges to compete for a share of $25,000 today in the Second Annual Venture Challenge hosted by the University Student Incubator.
Prospective participants presented business plans for the competition and the top four plans were chosen to compete in The Venture Challenge. Five judges will be present from the business community to score the business plans, which will also determine prize money each business will receive, said Student Incubator Associate Director Shannon McCormick.
McCormick said The Venture Challenge will take place from 3 to 6 p.m. at the Crowne Plaza, 4728 Constitution Ave. and students are welcome to attend.
General business senior Gary Shuford will represent Supedup Auto LLC at the competition, an auto detailing service with a twist.
“It’s a professional mobile vehicle cleaning service that will be operating out of a van fully equipped with professional equipment,” Shuford said.
Co-founder Cory Richard will operate the company van to drive to customers in need of auto detailing around the city, Shuford said.
Econofy is a business to help people control their power bills, said founder and University alumna Lauren Stuart.
“It’s a combination of a website application that monitors your electricity use and a device that measures your electricity use at the outlet level,” Stuart said.
Stuart said she has a prototype designed that is functional and participating in The Venture Challenge could potentially enable her to produce the product.
Kyle Anderman, entrepreneurship senior, founded Frosted a year ago, which offers fresh baked cupcakes. Anderman said he hopes participating in The Venture Challenge will enable him to enact the next step in his business plan.
“The next step for Frosted is we want to become mobile, so we’re going to try it for The Venture Challenge,” he said.
Anderman said he would also like to set up cupcake vending machines on campus, which will be restocked with fresh cupcakes daily.
“We don’t have the ability and the funds to go out there and buy a truck, buy a vending machine yet,” he said. “So, what this competition will allow Frosted to do is get a head start on it.”
MBA student Mark Moss will represent his business, Rock Water, which is a powder formula that can be mixed with water to aid in kidney stone prevention.
“It alters the consumer’s urinary chemistry in a way that is not conducive to stone formation,” he said.
Moss said his product is being formulated in conjunction with the University Food Science Department.
There is a need for the product because current kidney stone prevention regiments are in prescription pill form and has adverse side effects, Moss said.
