SUU Entrepreneurship Hosts Annual State Bank Business Challenge as part of One Utah Summit

Published: October 29, 2024 | Author: Mary Nelson | Read Time: 2 minutes

Tyler Stillman, Eric Schmutz, Mindy Benson, and Kristina Maine at the State Bank Business Challenge

The Entrepreneurship Center at Southern Utah University’s Dixie L. Leavitt School of Business was honored to host the State Bank Business Challenge once again. This premier event is part of the One Utah Summit, a biannual gathering where Utah’s top leaders and decision-makers address economic challenges, particularly in rural areas. The Business Challenge provides an exciting opportunity for small business startups and aspiring entrepreneurs to gain recognition, financial support, and valuable mentorship.

The competition follows a pitch-style format. In the initial round, participants are given 90 seconds to present their business ideas. Those with the highest scores advance to the final round, culminating in a presentation before a panel of esteemed judges. The challenge offers $50,000 worth of prizes including a mix of cash, mentoring, and service based prizes.

This year, the judges’ panel included Eric Schmutz, CEO of State Bank of Southern Utah; Mike Mower, Senior Advisor of Community Outreach and Intergovernmental Affairs; Brad Bonham, Entrepreneur in Residence for Governor Cox’s Office; Kristin Andrus, philanthropist; Jeremy Smith, Head of Agile Delivery at Overstock.com; Tammy Pearson, Beaver County Commissioner; and Jonah Goldberg, Editor-in-Chief and Co-Founder of The Dispatch.

Six finalists received the following awards:

  • Spencer Quinn & Brandon Flory, Merch Makers: $15,000 grand prize, $4,000 in miscellaneous prizes, and mentoring sessions with Jeremy Smith and Brad Bonham.
  • Diana Emilia Gomez, Tiny’s Botanas: $5,000 Audience Choice Award, $1,500 cash prize, $1,000 MBC Scholarship to the University of Utah’s Master of Business Creation Program, $1,500 in Beans and Benjamins, three hours of accounting services with Derek Christiansen and Associates, a Lovesac, and three hours of marketing services with AdventureYeti.
  • Brandon Davis, Interval AI: $5,000 Lt. Governor's Choice Award, $1,000 Love of the Grasshopper Award, and three “task tokens” from AI Grasshopper.
  • Greg Aldred, Weed Blockers, LLC: $3,000 for Best Student Business, $1,500 cash prize, and $1,000 for Love of the Grasshopper.
  • Ricky Valadez, Sound Sculpt: $1,500 Loot & Law Award, three hours of services from Reusch and Reve, and $1,000 in miscellaneous prizes.
  • Will Ducrest, MASPBR, LLC, Push Pilot: $1,500 cash prize, $3,000 for Making a Difference, and $1,000 in miscellaneous prizes.

The State Bank Business Challenge, sponsored by State Bank of Southern Utah, is an incredible opportunity for entrepreneurs to showcase their ideas, build networks, and secure resources to grow their ventures. For more information on the One Utah Summit and next year’s State Bank Business Challenge, visit the One Utah Summit.

Tags: School of Business Leavitt Center Utah Rural Summit

Contact Information:

Brooke Heath
435-586-5400
brookeheath1@suu.edu