Tuesday, March 27, 2007
USI student takes top prize statewide for new business idea
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Sheri Risner, a USI accounting major, has won first place for an innovative business idea called Pantry Partner in competition with more than 400 students from 21 universities throughout the state. Risner took the top prize of $500 in the Bootcamp Elevator Pitch Competition at The Indiana Collegiate Entrepreneur Bootcamp held March 22 in Indianapolis. She and USI student Mark Kurvach, also an accounting major, were among 10 finalists chosen to present their entrepreneurial ideas to a judging panel of four venture capitalists. Bootcamp participants and almost 50 of the state’s top entrepreneurs and investors also heard their pitches. Risner received encouragement from the judges to start a business with her idea. Her Pantry Partner would be a wall-mounted device to scan groceries as they come into the home and again as they are used. The in-home bar code reader would help people maintain household inventory, prepare grocery lists, plan meals, and save money. A nontraditional student, Risner lives in Newburgh, Indiana. She and her husband have four children. Kurvach presented a suggestion for an insect bite kit with products to prevent insect bites or relieve discomfort after a bite. Kurvach is a graduate of Castle High School in Newburgh. Presentations were judged on the basis of product/innovation, market, funding and profitability, and quality of the pitch (including believability and clarity of concept). Dr. Mohammed Khayum, dean of the USI College of Business, said, “Entrepreneurs find innovative ways to make our lives easier. The Indiana Collegiate Entrepreneur Bootcamp provided opportunities for college students to share their innovative business ideas and learn from successful entrepreneurs. Our students have shown that they possess key attributes for entrepreneurial success. Their participation and performance in the Bootcamp point to their ability to identify opportunities and to take advantage of them.” Other USI students who participated in the Bootcamp were Kyle Gilbert, Katie McCallister, and Joshua Sackett. The event, which also included a number of workshops conducted by successful entrepreneurs, was sponsored by the Indiana Economic Development Corporation and the Indiana Venture Center. Risner, Kurvach, Gilbert, and Sackett also were participants recently when the College of Business sponsored its first Business Idea Competition during Entrepreneurship Week USA. Risner won third-place in that competition, and Sackett took first for his idea involving Internet radio broadcasts in vehicles. The 16 students who participated will have an opportunity to engage in a feasibility analysis with support from the College of Business. In addition to the Business Idea Competition, Khayum said the college has adopted a number of initiatives to promote entrepreneurism. A recent national study shows that innovation and entrpreneurship are significant influences on regional economic development. The college is exploring the development of a minor in entrepreneurship and plans to develop programs to foster entrepreneurial networks in the region and build an enabling infrastructure to support innovation. |
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