University of Idaho Rewards Student Entrepreneurs
Wednesday, May 3 2006
May 3, 2006 MOSCOW, Idaho – Eight University of Idaho student teams finished a three-month competition for an outstanding business plan Saturday. The competition, organized by the university’s Vandal Innovation and Enterprise Works (VIEW) program, combined multidisciplinary effort with entrepreneurial vision to create viable business plans and teach students how to promote a potentially successful business in the real world. Team members for the top three innovative ideas were rewarded in cash. “This process was designed to promote a multidisciplinary approach to business,” said Michele O’Neill, VIEW director. “It is increasingly important to work together with people in other disciplines when starting a business. Marketing, advertising, technology – no matter what you do, you work together with people from different backgrounds.” The winning plan for MustDirt, a business that would develop, research, register and distribute commercially viable uses for mustard meal, took home $6,000. The money will be split evenly among its five team members: Kris Freitag, Moscow; Tommy Goodwin, Nampa; Riley Higby, Payette; Wes McClintick, Meridian; and Gordon Seefried, Mackay. Second place was awarded to the Precious Metals Recovery Solutions plan, which calls for the introduction and selling of a machine to recover precious metals from scrap and waste systems. The plan was developed to provide a better refining process that eliminates the production and release of harmful products to the environment. The $3,000 prize will be split evenly by the three-person student team: Ryan Kee, Boise; Albert Whetstone III, Bonners Ferry; and Chris Youderian, Idaho Falls. The third-place plan, Airhaul Tug, provides the concept for an air tug to effortlessly maneuver light aircraft in and out of hangars and around airfields. The $1,000 prize will be split evenly by: Juan Barajas, Bonners Ferry; Robert Gantz, Lewiston; and Robert Schloss, Old Town. The competition was sponsored by Dietmar and Pauline Kluth. Dietmar is a 1966 alumnus of UI’s College of Business and Economics. In addition to the Business Plan Competition, the Idaho Research Foundation opened a competition for the best-presented business plan on April 20 to the same participants. “We wanted to reward teams that best represented their plans in terms of salesmanship,” said Alison Nowakowski, assistant director of the Idaho Research Foundation. Clearwater Idaho Aid, a project to fund a portable bio-filter for drinking water to address the drinking-water crisis in Africa, won first place. Team members, who will split a $1,500 prize from the Idaho Research Foundation, include: Sam Creason, Lewiston; Kristen Lothrop, Mountain Home; Jenn Miller, Eagle River, Alaska; Jessica Malecha, Eagle River, Alaska; and Jeremy Hundrup, Healy, Alaska. Second prize went to Guido Grill, the concept for a late-night, portable concession stand in downtown Moscow that would provide grilled sandwiches, hot dogs, burritos and other items. A $500 award from Foresight Science & Technology will be split by David Spinazza, Boise, and Ryan Jauregui, Boise. Business plan presentations were critiqued on speech development, effectiveness, voice and manner, among other criteria. O’Neill said VIEW will hold the competition again next year. “We want to start formation of teams in the fall and educate participants about forming business plans. The competition portion will take place in spring 2007.” The competition is open to the public, as long as each team consists of at least two currently enrolled UI students that represent at least two different colleges. The use of non-student advisers and mentors also is encouraged. Launched in 2005, VIEW is a universitywide initiative to promote entrepreneurial learning, performance and commercialization. For additional information about VIEW or the business plan competition, visit www.view.uidaho.edu, phone (208) 885-0199 or e-mail view@uidaho.edu. Contact: Joni Kirk, UI Communications, (208) 885-7725, joni@uidaho.edu -30- About the University of Idaho Founded in 1889, the University of Idaho is the state’s flagship higher-education institution and its principal graduate education and research university, bringing insight and innovation to the state, the nation and the world. The only institution in the state earning the prestigious Carnegie Foundation ranking for high research activity, University of Idaho researchers attract more than $100 million in research grants and contracts each year. UI’s student population includes first-generation college students and ethnically diverse scholars. Its high academic performers include 34 National Merit Scholars and a 2005-06 freshman class with an average high school grade point average of 3.42. Offering 106 degree options in nine colleges, UI combines the strengths of a large university with the intimacy of small learning communities. For information, visit www.uidaho.edu. JK-5/3/06-VIEW
About the University of Idaho
The University of Idaho helps students to succeed and become leaders. Its land-grant mission furthers innovative scholarly and creative research to grow Idaho's economy and serve a statewide community. From its main campus in Moscow, Idaho, to 70 research and academic locations statewide, U-Idaho emphasizes real-world application as part of its student experience. U-Idaho combines the strength of a large university with the intimacy of small learning communities. It is home to the Vandals. For information, visit www.uidaho.edu.