The second annual Business Idea Competition kicks off this fall, where students have a chance to win a share of $55,000 for their idea - and, more importantly, kick-start a viable business with the support of fellow students, faculty, staff, and alumni.
With the help of School of Business alumnus Chris Burch '76, along with the School of Business and local entrepreneurs, students have the opportunity to jumpstart their entrepreneurial endeavors.
"This exciting initiative provides an opportunity for Ithaca College students with ideas for start-up businesses to develop and test those ideas out. Generously funded by an IC alumnus, Chris Burch '76, a highly successful entrepreneur, students with a passion for entrepreneurship get mentoring as well as the support of and interaction with other young entrepreneurs." said Dean Mary Ellen Zuckerman
Weekly coaching sessions are offered throughout the competition, led by competition organizers, Brad Treat, Tom Schryver and Heather Lane. Sessions include; How to Brainstorm, Narrowing the Field, How to Structure Your Pitch, How to Identify Gaps and Address them and Presentation Skills.
Brad Treat said, "In today's business environment, even large companies are looking for more entrepreneurially minded people. These skills will prepare them for them for their careers, even if they don't launch their own companies right away."
“The competition builds a culture of possibility, action and innovation which ultimately builds great future employees or business owners.” said Heather Lane
Twelve teams will be selected as finalists, where they will present their business idea to a panel of judges. In early November, an awards reception will be held where winners will be announced.
"The support by Chris Burch and the commitment of the administration has been absolutely critical in enabling the program - this form of experiential learning in groups formed across campus is exactly what IC 20/20 is about." said Tom SchryverFor more information on the Business Idea Competition, FAQs, and prize money, please visit: Ithaca.edu/business/ideacompetition