MOREHEAD, Ky. — Students at Morehead State University pitched their original business ideas to professional entrepreneurs during the Entrepreneurship Competition at the Innovation Launchpad on Tuesday, Oct. 2.
Four students competed to advance to the state competition where they will further develop their ideas and businesses. Students had one minute to pitch their ideas to the judges, who have experience in the real world in business. The judges had five minutes to ask questions about the product or service.
Ransom McCarty placed first, Trey Davis placed second and Alysa Coleman and Brody Eller placed third in a tie. The ideas pitched ranged from the pollination of vanilla plants using drones to an afterschool program for the arts.
“Our competition is a stepping stone to help locate the talent and interest because creating a business plan and establishing a business is hard work,” said Dr. Janet Ratliff, associate professor of management and entrepreneurship and campus advisor for Idea State U. Ratliff said students gain experiences such as teamwork, business skills and researching skills through the competition.
“They gain self-esteem, communication skills, abilities to articulate their idea very clearly and concisely,” Ratliff added. “Students gain a real-life experience with what it is to try to pitch your idea, to get the support necessary to be able to advance your idea, to be able to perhaps one-day open doors to a new business creating a new product or service for the community in which you live.”
The Elmer R. Smith College of Business and Technology started the Entrepreneurship Competition four years ago to entice potential developers and entrepreneurs on campus.
“We were having difficulty finding people interested, so my college at the time and I developed the idea that maybe we could have a competition it might start interest from across campus in various disciplines,” Ratliff said.
For more information about the Smith College of Business and Technology, visit www.moreheadstate.edu/cbt.