POSTED: Tuesday, April 30, 2013 - 8:30am
UPDATED: Tuesday, April 30, 2013 - 8:34am
BATON ROUGE, LA — $25,000 cash was awarded to four student companies during the live final round of the LSU Student Incubator’s 2nd Annual Venture Challenge, held on April 19.
The Venture Challenge showcased LSU’s brightest student entrepreneurs and provided their businesses with access to the capital and resources needed to achieve long-term success.
Eighteen of the current 44 Student Incubator members submitted their business plans into the competition. The top four scoring plans from the first round advanced to the final live round of the Venture Challenge, which took place at the Crowne Plaza Hotel in Baton Rouge. The selected members gave a 10-minute presentation to both a panel of judges and a live audience followed by a 10-minute question and answer session from the panel of judges. In both rounds, the panels of judges were made up of members of LSU and local business communities.
$25,000 total was awarded among the four businesses. Cash awards were determined based on the final round of scoring.
The final round winners included:
- Frosted, owned by Kyle Anderman, an LSU undergraduate studying management and entrepreneurship. Frosted is a modernized gourmet cupcakery in the LSU area that is ready to branch out with a contemporary cupcake truck and cutting-edge vending machines. Anderman took home the top prize of $8,000.
- Econofy, owned by LSU alumna Lauren Stuart, offers outlet-level control and electricity monitoring accessible from anywhere, paired with an interactive energy efficiency shopping guide so you can “econofy” your home or office. Stuart’s business proposal earned a $7,000 prize.
- Rock Water, owned by LSU Flores MBA graduate student Mark Moss, is the only doctor formulated drink designed to aid in kidney stone prevention. For his business proposal, Moss won $7,000.
- Supedup Auto, LLC, owned by LSU general business undergraduate Gary Shuford. Supedup Auto is a mobile automobile cleaning and detailing company serving local businesses as well as residential customers in Louisiana. Shuford earned $3,000.
The final round judges included Elif Acar-Chiasson, chief operating officer of CSRS, Inc.; Stephen Toups, senior vice president and chief information officer of Turner Industries Group; Ann Forte Trappey, chief executive officer and president of Forte and Tablada, Inc.; Robert C. Tucker, partner with Jones Walker Law Firm; and certified public accountant Thomas Cotton.
The event would not have been possible without a generous donation from the following sponsors: John Q. and Nancy H. Barnidge; Platinum Sponsors Jones Walker and CB&I; and Gold Sponsor L’auberge Casino and Hotel.
The LSU Student Incubator’s Venture Challenge is instrumental in retaining talented university graduates in Louisiana that will help build a closer community, a stronger economy and a better future for Louisiana. Launched in September 2010, the LSU Student Incubator assists students with business idea development so they can have their business as a career option after graduation. The program supports more than 50 student-run startups annually by providing one-on-one consulting, business planning software, mentors and speakers from the business community, an Elevator Pitch Competition, the Venture Challenge, and other valuable resources needed to start and grow a business. The LSU Student Incubator is a program of the Louisiana Business & Technology Center, or LBTC, at the LSU Innovation Park which endeavors to enhance economic development in Louisiana through the support of existing small businesses and the development of new businesses.
For more information, visit http://business.lsu.edu/Louisiana-Business-Technology-Center/Student-Inc... , “like” the LSU Student Incubator on Facebook or follow the LSU Student Incubator on Twitter at @LSUStudentInc.