PITCHING FOR CASH

For the past five years, Director of the Center for Entrepreneurship and Economic Development (CEED) Dr. Jeff Street has led the U.S. Bank Pitch-Off event, which challenges students to develop a business plan for a product or service and present it to a panel of judges in just 10 minutes. For the second year, Street added the introduction business course, Management 1101, to the mix, inviting 148 underclassmen to join a Shark Tank 101 challenge prior to the annual Pitch-Off event. “We typically invite 24 teams to participate in the U.S. Bank PitchOff event, so when space allows, the top scoring teams from Shark Tank 101 are invited to join and compete in the U.S. Bank Pitch-Off for seniors and graduate students from across campus,” said Street. This year, two underclassmen from Shark Tank 101 were invited to participate in the U.S. Bank PitchOff for cash prizes, making a total of 32 student teams. Each of those winning teams then qualify to apply to the statewide event, the Idaho Entrepreneur Challenge (IEC), held in Boise each spring. “Most of the winning teams in these events are small business ideas that could be started with the resources found in Idaho,” said Street. Among the winning teams was a holiday decoration subscription service with a return and resale mechanism. Another idea was for a mechanical device used to help train K-9 police dogs with a hands-off approach. Another winning idea was a food truck aimed at the Boise downtown market which would offer unique regional foods, and the last winning idea was a locator device made to look like jewelry for senior citizens suffering from memory problems. Throughout the years, the Pitch-Off and IEC events have provided students with the amazing opportunity to get their entrepreneurial ideas off the ground. “At this point, we have had 11 teams take their idea to some stage of start-up,” Street noted. “We feel we have one team this year that will make it to start-up stage.” “This is a terrific event with huge educational value for our students,” said Director of the Small Business Development Center Ann Swanson. Throughout the competition, the entire CEED team, including the SBDC, serves as a resource for students to help get their ideas rolling and to the feasibility stage. “Students see it as one of the best activities they have had in their business education,” said Street. “It is a great confidence builder and a chance to use their business education and passion for starting a business. Judges return year after year to help with the event and always speak highly of the quality of ideas and presentation skills of our students.”

John Ney (left) and Dr. Jeff Street (right) pose with student winners. Photo 1: Sofia Milovanovic, Hannah Rasmussen, Emily Christopherson; Photo 2: Audrey Moerer; Photo 3: Lynnea Dale; Photo 4: Channing Mitson; Photo 5: Rylle Dawson; Photo 6: Lara Maccabee, Emelia Childress