MOREHEAD – Morehead State University’s College of Business and Technology held its first “Business Pitch Competition” Monday, Oct. 26, at the Innovation Launchpad located at 149 East Main Street in Morehead.
The purpose of the competition is to promote entrepreneurship and small business development by giving students the opportunity to create, manage and grow an original business idea.
“I was very impressed with our students at tonight’s business pitch competition. We had students from across campus including business students, space science students, students from the Craft Academy, and others,” said Dr. Bob Albert, dean of MSU’s College of Business and Technology. “Their business ideas ranged from remote control mining equipment repair to delivery drones to connectors that facilitate transfer of data and battery life across multiple types of cell phones. And while most of the business ideas are in the very early stages of development, it is encouraging to see so many entrepreneurially-minded students at MSU.”
According to Dr. Janet Ratliff, assistant professor of management/entrepreneurship and director of the Center for Economic Education, nine students took part in the competition.
Each person/team got a two-minute presentation, followed by a five minute question and answer period from the judges.
“My colleague, Beverly McCormick, and I are thrilled with the outcome of our first event of this nature, a clear illustration of the excitement on campus regarding entrepreneurship. It is our hope to continue this momentum over the next several months to foster participation in the IDEA STATE U Competitions at the Regional and State level,” said Dr. Ratliff.
Sponsors for the event were MSU’s College of Business and Technology, Kentucky Innovation Network, Innovation Launchpad, Center for Regional Engagement and Booth Entrepreneurship Center.
“The real significance of competitions like this is that our students have many great ideas that are ready for market today. Thanks to the Internet, and the modern economy, all they need is support and encouragement to start making money. I see this as an economic development strategy as much as education,” said Johnathan Gay, MSU’s Kentucky Innovation Network director.
Winners included: first place and winner of $300 in cash to assist in further developing his idea, James Andrew Cavins, a senior from Baxter; second place winner of $200 in cash to assist in further developing her idea, April Eling, a Craft Academy student from Mt. Sterling; and third place and winner of $100 in cash to assist in further developing his idea, Kyle Roberts, a junior from Winchester.
Other participants from MSU included: Benjamin Cain, Michael Wood, Bradley Mahaffey, Cassandra Terry, Daniel Jones, and Madeline Jansen.
“It’s inspiring to hear about such a wide range of business ideas from these young women and men. The Center for Regional Engagement is proud to support events like the Business Pitch Competition that give budding entrepreneurs feedback on their business concept and help some of them reach potential investors,” said Louise Cooper, CRE’s service learning coordinator.
Additional information is available by calling Dr. Ratliff at 606-783-2390 or Dr. Beverly McCormick, professor of real estate, at 606-783-5156.