$3,000 for your Best Business IdeaDecember 05, 2012
Category: Community Outreach
Got a great business idea but don’t know how to get it off the ground? Give your winning business idea a kick-start at this year’s Best Business Idea Competition, with the opportunity to win a $3,000 cash prize to move ahead with your million-dollar idea.
Created six years ago by the Southern Utah University Small Business Development Center (SBDC), the Best Business Idea Competition is looking for business ideas from all residents in Beaver, Garfield and Iron Counties, as well as college students from SUU.
First place winner will receive $3,000 and additional awards of $1,000, $500 and $250 will be given. Zion’s Bank Opportunity Quest Competition, which is only for SUU students, offers a first place prize of $1,200 and awards of $800 and $500 will also be presented.
Craig Isom, executive director of the SUU SBDC, offered further information on what the judges are looking for by saying, “Past winning ideas covered a wide range of business possibilities. From minimal footwear to interactive website and even dump truck inserts, all represented very practical and innovative ideas with bright prospects for the future.”
Last year’s winners, Brian Cameron and Kaylon Pickett, SUU students, won a total of $4,200 for placing first in the general division and first place in the Opportunity Quest Competition.
“Their business idea was called ‘Face-to-Face,’ the idea was to teach conversational English to people in Asian countries,” explained Isom. “They were able to travel to Asia with their winnings, gain contacts and their business is now really taking off. Within the next month they will have close to 30 clients.”
After business ideas are submitted, a panel of judges will choose the top 10 ideas, finalists well then present their ideas and winners will be announced at the beginning of January.
All entries must be submitted by December 7 at 5 p.m. An online submission form must be filled out containing an executive summary and 2-minute video, both highlighting the business plan. This can be done as individuals or as teams.