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efore announcing the judge’s pick for best pitch presentation at the 2018 Big Ideas Challenge, Christy Lloyd Ernst gave the audience in Ostrander Auditorium a little insight into how they chose a winner. “Being an entrepreneur takes risk,” she said. She went on to explain, of the five pitches the judges heard the afternoon of April 16, there was one that stood out as a product on the cusp, one that could be risky but with the potential for huge rewards. Lloyd Ernst announced O-Cam as the presentation winner. The first-to-market prototype for an oven camera and mobile app lets you watch your food bubble away and monitors temperature, ensuring a perfect and safe cook every time. “We think they have a big idea we could see on Shark Tank one day,” Lloyd Ernst concluded. O-Cam entrepreneurs and engineering students Sherif Bakr and Abdelrahman Elkenawy walked away with $4,000 provided by Lloyd Companies that they will use to secure a patent and build a working prototype. The afternoon’s other big winner was an environmentally friendly dry erase marker, EnduraMark. Inventors Benjamin Lindquist, Robert Pederson and Michael Ganzer took home prizes for best business plan and best overall. In addition to a $6,000 cash prize, the EnduraMark team earned the right to present at the MN Cup, the largest statewide startup competition in the country hosted by Carlson School of Management. Finally, the audience favorite went to Twin Cities Engineering Consulting, a consulting service made up of engineering students and graduates. Their $2,000 prize will allow them to expand services and move into an office space. Overall, it was a close contest, said returning judge Sarah Richards, president and CEO of Jones Metal Products— evidence that students keep improving each year. “The presentations were very good, but the business plans were the best I’ve seen so far,” she said. —S.A.O
Foodies of the Future This year’s Big Ideas Challenge featured a new category made possible through a donation by Jones Metal Products. The Agricultural/Food/ Beverage Division featured two finalists competing for a $3,000 prize. The winner, Coconut Whisk Baking Co., produces vegan and allergy-friendly baking mixes using wholesome, high quality ingredients. Founders Bella Lam and Myles Olson wowed judges with their straightforward mission statement: simple makes life sweeter. The pair will use their winnings to move the company forward and begin donating a portion of their profits to animal sanctuaries around Minnesota. “The word is momentum,” Lam said. “It gives us so much momentum to keep doing this [knowing] we can build this company—and it’s worth it.”
Left: College of Business students welcome visitors to the Big Ideas Challenge. Craig Lloyd celebrates with the winning Big Ideas Challenge start-up, EnduraMark. Right: Agricultural/Food/Beverage Division winners, Coconut Whisk Baking Company accept their prize money. Photos by Social Butterfly
The Big Ideas Challenge is a new venture competition that encourages and celebrates students’ innovative business ideas. The Big Ideas Challenge is open to any Minnesota State Mankato student or alumnus within two years of graduating. Individual and team entries are welcome. This new venture competition gives students the opportunity to compete for money to fund their business. Thank you to alumnus Craig Lloyd of Lloyd Companies for generous support and donation of the prize money.
To learn more about the Big Ideas Challenge, visit cob.mnsu.edu/center-for-innovation-and-entrepreneurship
N N E S OTA STAT E U N I VE RSI T Y, M AN KATO / 33 M I NN