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First annual business plan competition funded by alum donation
An anonymous donor recently presented $50,000 to the School of Business.
This money will be used to further enrich the education of business students, such as with the first annual Business Plan Competition, hosted by Quinnipiac University and the School of Business.
The basis of this event is to write a proposal for a new business. Students must come up with an idea, write a sub plan, and tell how it will get started.
Students will then have to present the proposal in a 15-minute presentation. The judges of the competition will be professionals from the Hamden area.
“Some of the ideas this year are a dorm cleaning service, and three shoes in one for working woman,” said Dale Jasinski, associate professor of management.
“They don’t have to be real ideas that students are going to produce in the future. Some however are real and actually want to start the business they are proposing,” he continued.
This year 25 people entered the contest.
“I didn’t expect this many people to enter into the contest. I am extremely happy that it happened though,” said Jasinski. “The biggest classes participating in the event are the sophomores and senior classes. Most of them were also business majors.”
Interested students do not have to be a business major to take part in order to participate.
“We want the competition to be more spread out among the majors. Hopefully, when people know about the event even more people will participate,” said Jasinski.
This year, the total amounts of prize money that will be given out come to the amount of $10,000 dollars. First place will receive $6,000, second place $2,000, and third place $1,000. There will also be a $250 prize given out to the best proposal in each class.
This type of competition is done nationwide. More then 80 colleges have already started doing them. Two colleges, the College of Nebraska and San Diego State, hold a nationwide competition each year.
“We are hoping that the winners of our competition will be able to compete in the national competition,” said Jasinski.
The business plan presentations and the awards will be given out on May 3.
For more information on this event, contact professor Dale Jasinski at x3388 or Dr. Ronald McMullen, a professor of business at Quinnipiac, at x 8784.