2022 BUSINESS PLAN COMPETITION April 13, 2022 Support provided by Truist and the Robert G. and Ellen S. Gutenstein Foundation
OBJECTIVES OF THE COMPETITION to promote the creation and development of new ventures at High Point University to provide University support and funding to the most innovative business ideas from undergraduate students to provide undergraduate student entrepreneurs with direct exposure to possible mentors and/or investors to provide students a forum outside the classroom where they can develop skills in “pitching” their business ideas to capital providers and entrepreneurs, and to receive constructive feedback – increasing the probability of the success of their ventures
SPECIAL THANKS TO TRUIST FOR SUPPORTING THIS EVENT THANK YOU TO OUR EXPERT BUSINESS PLAN JUDGES
AGENDA | 5:00 - 7:00 PM
BUSINESS PLAN JUDGES
Congdon School of Health Sciences
Karen Gainey President, Mt. Airy Partners, Inc.
Callicut Auditorium
Chris Waldeck EVP, Co-Chief Operating Officer, Global Brand President, Lee®, Kontoor Brands
Welcome
Kevin Geraghty CEO, GO Global LLC Founder, Worldwide Manufacturing Dan Cedrone, Founder Poly-Tech Industrial, Inc.
Introductions of Sponsor & Judges Presentation of the Finalists Announcement of Winners
COACHES Prof. Kathy Elliott Director of the Center for Entrepreneurship, Assistant Professor of Entrepreneurship Prof. James Fakunle Assistant Professor of Entrepreneurship
THE PRIZES
Up to $30,000 in cash prizes may be awarded to the finalists.
2022 BUSINESS PLAN FINALISTS Flasky Labware Ivana Korankyi Hometown: Jamestown, North Carolina Major: Doctor of Pharmacy Graduating Class of 2024 For the past 50 years, researchers have been making medications in a specialized system called rotational evaporators. Every time they make these drugs in this system, they used a vessel called a round bottom flask to collect the medication which they wish to sell. The round bottom flask which collects the medication has a narrow neck and a large bulb, so a lot of the medication gets stuck to the walls of the round bottom flask. Because of this, researchers and drug companies spend a lot more money to make excess medication because they know that there will be “leftover” which is medication that is hard to reach in the round bottom flask. Because of this, we at Flasky Labware created a specialized tool that collects the medication that researchers and drug companies are usually unable to reach on the interior walls of the round bottom flask. With Flasky, lab researchers and drug companies will save substantial amounts of money by getting a higher yield of medication recovered from their round bottom flasks.
Jackhammer Outdoors: The Fish Stick Jack Hammond Hometown: Cincinnati, Ohio Major: Business Administration with a minor in Entrepreneurship Graduating Class of 2023 Recreational fishing tends to be a costly hobby. The average fishing lure costs between $6 - 10, with some lures reaching all the way up to $100 or more. Lures are lost all the time through snags and constantly need to be replaced. Through data collection distributed to recreational anglers in North Carolina and Florida, it was found that the average recreational angler loses 2-3 lures each fishing trip. With the average prices in mind, it is easy to see how so much money can be lost in a short amount of time. Additionally, the waste produced by broken snags can be lethal to both aquatic and terrestrial organisms. If you’ve ever been to a public lake or pond, you have probably seen tangled knots of line and hooks stuck in the trees that surround the body of water. These entanglements occur above and below the water line and pose a very dangerous threat to marine mammals, fish, and aquatic birds. According to Clean Virginia Waterways, 100,000 marine animals are killed each year from this debris, with close to two million seabirds suffering the same fate. But they don’t have to. The Fish Stick gives users the unique ability to save their lures from vegetation and underwater structures. They can also use The Fish Stick to retrieve lures and hooks that were lost and abandoned by other anglers. Anglers that use the fish stick are this given the opportunity to save a small fortune, expand their tackle supply, and clean the environment all in one go, saving lives in the process. In a sense, money is literally growing on trees and you just need The Fish Stick to pick it.
2022 BUSINESS PLAN FINALISTS The Kap Popper Sean Martin Hometown: Baltimore, Maryland Major: Entrepreneurship Graduating Class of 2024 The Kap Popper is determined to aid those with limited strength and dexterity in the everyday task of unscrewing a bottle cap. The Kap Popper’s number one priority is to create a solution for those that do not otherwise have the ability to unscrew a bottle themselves. My aunt suffered a stroke at 51 years old that led to a brain aneurysm in the right side of her brain. This caused complete paralysis of her left arm and hand. One of her most difficult tasks is opening a twist off plasitc bottle because she can’t use both hands to hold the bottle while twisting the cap to open it. Over Christmas break this year I was home from school and I was spending time with my aunt. She asked me to open a water bottle for her, so I grabbed the bottle, opened it, and handed it back to her without thinking anything of it. Later she asked me to open another bottle for her and I realized that she is asking me to open the bottles because she cannot open them herself. This gave me the idea to create a product that would provide a solution to opening twist off plastic bottles independently. The Kap Popper is a device that sits over the top of a plastic bottle simultaneously gripping both the bottle and the bottle cap white the internal mechanism turns to unscrew the cap and open the bottle. The internal mechanism is powered by simply pushing down on the plunger on the top of the device which allows users to pen a twist off plastic bottle by using just one hand.
The MJ Bottle Team of Jordan Rubin and Addison Antico Hometown: Wayland, Massachusetts and Sherborn, Massachusetts Major: Jordan - Strat Comm. with minors in Social Media Marketing and Fashion Merchandising, Addison - Strat Comm. with a minor in Entrepreneurship Graduating Class of 2022 A little over a year ago, Addison became an uncle to his nephew, MJ. The idea for The MJ Bottle stems from an experience this past summer when we took MJ for his first boat trip. While on the boat, Addison was asked to prepare a formula bottle for MJ. What Addison thought was a simple task turned into a messy headache. From the diaper bag, Addison had to take out one baby bottle, one container of formula, a bottle of water, and a formula measuring scoop. While on a moving boat, he then had to measure four scoops of powder, eight ounces of water and then get it into the baby bottle. Addison ended up covered in powder, and the formula was everywhere. It was at that moment that we knew there had to be an easier way to prepare formula bottles on the go. After diligently searching, we were shocked to find there was such a hole in the baby feeding industry. The MJ Bottle fills this hole by being the first all-in-one formula feeding cartridge system on the go that works with no muss and no fuss. We plan to not only create a bottle for on the go, but we hope to revolutionize the baby feeding industry by creating a cartridge system that will make feeding on the go hassle-free, effective, sanitary, and convenient.
2022 BUSINESS PLAN FINALISTS Your Personal Jeweler Alex Malyszko Hometown: Terrell, North Carolina Major: Entrepreneurship with minors in Sales and Italian Graduating Class of 2022 Most jewelers are tradesmen, as they typically have apprenticed for years, often in lieu of college. Although they have mastered their craft in jewelry making, many fail to run a savvy business that can compete with the big chain stores. Of course, many others have unlocked the potential in their market and designed a profitable business. Nevertheless, many of these successful jewelers still get bogged down in the “drudge work” of the business and long to go back to once again focusing on the true art they love to create. Regardless of their situation, thousands of independent jewelers either desperately need someone to help their business succeed or simply want someone to take the burdens of everyday business off their shoulders. This is where Your Personal Jeweler steps in. When Your Personal Jeweler partners with a store, they’re assigned a regional team consisting of an accounting and finance professional, marketing professional, and business manager/advisor. This team implements the integrated systems and software into the business, creates a recovery and growth strategy specific to their market, and guides the business owner through these strategies. The team will manage the accounting, finance, marketing/advertising, service/product mix, inventory forecasting, human resources, and optimization. This makes it cost effective for jewelers to focus on their craft, while monetizing their expertise, eliminating the hassle and stress of running a store, increasing their income through improved management, and giving them a better quality of life.
IN THE RUNNING . . . Cameron Labrecque - Rememery Hometown: Newberry, Massachusetts Major: Entrepreneurship Class of 2024 Alex Berger - Sports Matching Hometown: Gladwyne, Pennsylvania Major: Sports Management Class of 2024 Ashley Adler - Brella Hometown: Wellesley, Massachusetts Major: Statistics Class of 2025 Darianna Smith - D Iron Guard Hometown: Sugar Land, Texas Major: Business Administration Class of 2025 Thomas O’Hara - Construction Automated Solutions Hometown: Troy, Michigan Major: Finance Class of 2024
High Point University Center for Entrepreneurship The Center for Entrepreneurship, offered by the Earl N. Phillips School of Business, fosters innovation and supports business ventures, advancing student created ventures to the next level of excellence. The Center assists with business creation and creative thinking. The Center for Entrepreneurship is fluid as it remains apace with current business trends and needs. Students learn how to create new venture concepts using real-world scenarios based on the Center’s interactions with the local business community and its noted professionals.
Center Activities Include: • Co-Working Entrepreneur Accelerator space • Funding for student start-ups • Student entrepreneur showcases • Experiential learning opportunities • Guest speakers from HPU’s extensive networks • Membership in Sigma Nu Tau Honor Society • Annual participation in the Collegiate Entrepreneurs National Organization • Elevator pitch competitions • Business plan competitions • Promising Entrepreneur Fund • Access to mentors and internships • Prototype development • Assistance with legal and manufacturing
One University Parkway, High Point, NC 27268 USA www.highpoint.edu