Students pitch business ideas for prize money

$15,000 in prize money was up for grabs for learners to set toward their firms.

The 30 applicants that entered the competition have been narrowed down to 5 finalists who competed for the prize funds, pitching their concepts in front of a panel of judges.

Director for the People’s United Centre for Innovation and Entrepreneurship Patrice Luoma described how enriching and beneficial this event is for university student business people.

“Presenting one’s concept can be scary. We persuade learners to establish their strategies and present them publicly in purchase to get suggestions from which they can boost,” claimed Luoma.

One of the firms was JSM Boats LLC, a multi-working day boat rental company that delivers boats to many lakes in Connecticut and Massachusetts. JSM is co-owned by Mike Ulitsch ’21, MBA ’22.

“I’ve liked pitching company suggestions in entrance of folks considering that I was in high college and had the opportunity to do so in a business enterprise class. They are a great prospect to apply your skills pitching your company to future buyers, prospects and companions,” reported Ulitsch. “These competitions also help you get essential validation and suggestions on your business enterprise tips so you can strengthen them heading ahead.”

Ulitsch, who attained $2,500 to put towards his small business, strategies to use what he acquired from this knowledge in the long term.

“I realized it pays dividends to be keen to set by yourself out there. It’s not always simple to be vocal to other people about yourself or a company you are doing the job on,” reported Ulitsch. “However, obtaining the self confidence to do so is a important talent in organization and in lifetime. Down the line, I hope to make JSM a achievements and then start more new ventures complete time.”

Tess Rose ’22 decided to showcase her business, CampusCars, to the panel of judges. CampusCars is a ride-sharing company that will husband or wife with universities to provide their pupils a safer trip-sharing knowledge. Rose was energized to acquire 1st-hand experience from the competitors, she discussed.

“This expertise taught me how essential it is to be a aspect of a local community,” reported Rose. “Being all-around other entrepreneurs and hearing their pitches is interesting. It’s nerve-racking to open up your business for criticism, but in the long run the judges provided wonderful comments.”

Rose, who received $2,300, plans to use the funds for law firm costs to produce the consumer terms and agreements for CampusCars.

Though the pitch levels of competition has concluded, Luoma hopes that the ordeals pupils have obtained will support form their futures in entrepreneurship.

“The pitch competitiveness is a highlight of the year’s activities for the People’s United Center for Innovation and Entrepreneurship. It is a single of the strategies we visibly endorse our college student innovators and business owners,” mentioned Luoma. “We want to develop as considerably visibility as we can for acquiring college students with strategies and improvements and helping them convert these thoughts into affect.”