Ten teams from among 20 semifinalists in the West Virginiaopen for businessstatewide student business plan competition recently won the chance to move on to the competitions final stage.
Hosted by the West Virginia University Entrepreneurship Center, the competition began in September and will culminate in a final competition in the spring.
The student teams delivered two-minuteelevator pitchesto the judges and guests at the West Virginia Entrepreneurship Initiative conference held Oct. 25 in Flatwoods. Conference participants and judges scored each teams pitch.
In addition, each team participated in a series of interviews with individual judges from the states business community. The semifinalist teams were selected from 50 original entries, representing nine different West Virginia colleges and universities. Five finalist teams were chosen in each of the competitions two categories: technology and lifestyle. Finalists in the technology category are: BioSingular (WVU), Allstar Ecology (WVU), MobilEyez Security Systems (WVU), Independability (Marshall University) and Arachnovation (Marshall University and WVU @ Parkersburg). Finalists in the lifestyle category are: Enviro-Diesel (WVU), Jasper Napolean Suites (WVU), Navway Records (WVU), The Rubber (WVU), and LaLoca Chica Pottery (WVU).
During the spring semester, the finalists will receive instruction and mentoring, while they develop a complete business plan. Each team will receive $1,000 to develop their plan for the final competition on April 14.
The hard work will be rewarding for the two winning teams, who will each receive grand prize packages consisting of $10,000 in cash and a bundle of services to assist in starting their business in West Virginia.
Judging the teams were Paul Benedict, Adena Ventures; Robert Godbey, Godbey Works; Paul Gray, Core Concepts, LLC ; John Hale, The Venture Connection; Greg Henthorn, Fourth Venture; Bill Hopkins, First Community Bank; Tim McClung, Acordia; Darlene Dunn, BB&T; Lee Harbert, H&R Block; Bill Herlihy, Spilman, Thomas and Battle; Katherine Herrell, K.Lianna for LittleEarth (former WVU competition winner); Steve Platz, Triana Energy; Diana Sole, Motion Masters; and Andrew White, White Guitars (former WVU competition winner).
For more information about the competition, visit the website:http://www.be.wvu.edu/bpcor call the WVU Entrepreneurship Center at 304-293-7861.