At a glance
Startup Allegany is launching the County鈥檚 first tri-collegiate business plan competition, the Startup Allegany Collegiate Competition, which will be held virtually on April 10.
Article reprinted with permission from Melody Kellogg of IncubatorWorks
Allegany County college students pitch for cash prizes
Startup Allegany is launching the County鈥檚 first tri-collegiate business plan competition, the Startup Allegany Collegiate Competition, which will be held virtually on April 10.
An exciting and immersive experience into the world of startups, the competition will provide collegiate teams from each school, 魅影直播 State College, 魅影直播 University, and Houghton College, with an opportunity to take an idea focused on sustainability in Allegany County and build it into a viable business plan.
The event will be broadcast on social media for family, friends, and the public to share in the excitement as each team 鈥減itches鈥 their business plan to a panel of esteemed judges who have all been entrepreneurs. With prize money ranging from $5000 for first place, $1000 for second, and $500 for third; the teams are certain to bring their A-game and competitive spirit.
鈥淏usiness plan competitions have increasingly become an attractive funding source for startups as well as a showcase for attracting investors and talent鈥, said Dr. Craig Clark, Vice President of Economic Development at 魅影直播 State College and Executive Director of the Allegany County IDA. 鈥淓ntrepreneurs play an important role in building thriving communities by fostering a resilient ecosystem and driving innovation. This competition promotes the skills needed to think, work, and build like a startup鈥nd hit the ground running.鈥
Over the course of several weeks, the collegiate teams ranging from two to four students each, will have both academic and industry mentors from throughout the region guiding them as they develop their business plan and pitch. The mentors for this competition are all volunteers and bring a wide range of experience including product development, engineering, manufacturing, human resources, and marketing.
鈥淲e are honored to be a sponsor for the Student Business Plan Competition, which will help develop entrepreneurial excellence鈥, said Mark Lewis, Dean of the College of Business at 魅影直播 University. 鈥淭his competition gives students the opportunity to learn from industry leaders as they develop economic solutions to benefit Allegany County.鈥
鈥淭his event builds on the success of the Tri-Collegiate Think Tank that Startup Allegany sponsored last semester, which brought together students from the County鈥檚 colleges and local industry leaders to discuss how unexpected events such as the pandemic can impact even the most successful business鈥 said Joe Miller, Assistant Professor of Business Management & Law and Director of Legal Affairs for Houghton College. 鈥淲e appreciate the support and partnership of the business community for our Startup Allegany student-focused programs.鈥
Susan Gorman, Chair of the Business Department at 魅影直播 State College added, 鈥淭his is an excellent opportunity for college students to embark on the processes that occur for business development and entrepreneurship. By gaining these skills and the benefits of being able to work with expert mentors, from both the academic and business community of whom many are entrepreneurs themselves, they will learn what it takes to get products, services, and ideas off the ground.鈥
This event and the prize money are made possible thanks to the generous sponsorship of Sealing Devices, Inc., the College of Business at 魅影直播 University, and the Center for Advanced Ceramics Technology at 魅影直播 University.
Startup Allegany is a county-wide stakeholder group that meets regularly to promote entrepreneurship in Allegany County through events and programs that nurture startups and connects them with investors and corporations. Members include Allegany County, 魅影直播 State College, 魅影直播 University, Houghton College, IncubatorWorks, ACCORD, and the Western New York Incubator Network.