Promising Student Entrepreneurs Present Business Ideas April 26

Promising Student Entrepreneurs Present Business Ideas April 26

Thursday, April 18, 2013

Promising entrepreneurs hoping to win this year’s record $25,000 Holloway Prize – the oldest business plan competition in the state and one of the first in the nation – will vie in the first stage of the competition this April, having only 10 minutes to make their best first impression. 

Fifteen teams of students will compete in the Bud Albin Challenge Round, the semi-final round of the Holloway Prize Innovation-to-Market Competition. The semi-final round will be held Friday, April 26, 2013, during the UNH Undergraduate Research Conference. The business plan competition runs from 1 to 5 p.m. at the Peter T. Paul College of Business and Economics.

“The Holloway Prize Competition is an important part of the student experience at UNH and Paul College. The rigor of the competition maximizes its educational value, prepares students for the realities of the business world, and helps generate new business opportunities that will help to grow the New Hampshire economy,” said Daniel Innis, dean of Paul College.

The competition promises to be filled with interesting research projects and business ideas. Students will pitch their business ideas on:

·         A coordinated clothing line for men.

·         A method to genetically enhance honeybees that could create efficiencies for honey and bee production.

·         An eco-friendly, customizable laundry detergent system.

·         An innovative aneurysm clip that could significantly reduce the cost of treating brain aneurysms and save lives.

·         A technological process that, when applied to any fabric, makes it highly water resistant, odor resistant, and stain resistant without changing the breathability and feel of the fabric.

         A web-based resource for the do-it-yourself community that provides home and car improvement resources and creates virtual and real-life relationships. 

         A technology-based, analytical tool that helps small businesses assess internal controls and create environments that deter fraud.

·         An online dormitory service that allows undergraduates to buy dormitory necessities, rent dormitory appliances, and enable students to design their room online with their roommates.

·         A system that uses radio frequency identification (RFID) to help consumers find lost items.

·         A social mobile application that focuses on browsing, sharing, and purchasing fashion items.

·         An online crowd funding portal where suppliers of capital meet developers of solar energy.

·         A parking monitoring service delivered via a mobile phone application that helps motorists easily access parking on crowded campuses.

·         A product that converts brackish ground water to potable water using a nonelectric solar system.

·         A smartphone and tablet mobile application that syncs the speakers of multiple devices in close proximity.

·         A product that allows professors to publish and distribute self-created, course-specific materials to students.

Six of those teams will advance to the finals of the Holloway Prize Innovation-to-Market Competition, which will be held from 1 to 4:30 p.m. Wednesday, May 8, 2013, at Holloway Commons. The winners will be announced following the competition.

The Peter T. Paul College of Business and Economics Holloway Prize Innovation-to-Market Competition is designed to stimulate entrepreneurship throughout New Hampshire. Open to all graduate and undergraduate students at the University System of New Hampshire who have a plan for bringing an innovative product or service to market, the competition helps students gain first-hand experience in commercializing new products and services, and provides access to faculty advisors, seed capital and industry experts. 

Established in 1988 to honor New Hampshire entrepreneur Paul J. Holloway's achievements and contributions to the university and to the regional economy, the competition stimulates, recognizes, and rewards the entrepreneurial spirit manifested in Holloway's career.

Now in its 25th year, the competition has become an integral part of the student experience at UNH. The rigor of the competition maximizes educational value, prepares students for the realities of the business world, and helps to generate new business opportunities.

Many of the students competing in the semi-finals and finals will have had a taste of the fast-paced competition after participating in the Charles & Miriam Nelson Poster Competition, Wednesday, April 24, 2013, which is also part of the UNH Undergraduate Research Conference.  

Designed as an elevator pitch, the poster competition will be held from noon to 2 p.m. at the Peter T. Paul College of Business and Economics, Room G35. Teams have three minutes to present their business idea, followed by three minutes of question and answers with industry judges.

“The poster competition provides students a chance to showcase their business concepts and push their creativity in mere minutes in the form of an elevator pitch, which is commonplace in business plan competitions today,” said Mike Merenda, chair of the Holloway and Nelson competitions and professor of strategic management and entrepreneurship.

For more information on the Bud Albin Challenge Round, visit http://paulcollege.unh.edu/2013-bud-albin-challenge-round.