Pictured (L-R) GSC Associate Professor of Business
Cheryl McKinney, semi-finalist Barbara Blankenship,
semi-finalist Brett Chapman, GSC student Kim Conrad,
GSC Associate Professor of Business Cinda Echard.
Submitted by Bob Edwards
Public Relations Dept. Asst.
Glenville State College
Glenville, WV - Two Glenville State College students are among the twenty teams that have made the semi-finals of the 2008-09 West Virginia Colligate Business Plan Competition. The twenty semi-finalists were chosen from ninety entries representing eight West Virginia higher education institutions. The semifinalists hail from WVU, Marshall University, Concord University, Ohio Valley University, Glenville State College, and West Virginia Wesleyan College.
This is the third year for the statewide competition organized by the Entrepreneurship Center in WVU's College of Business and Economics to encourage students across West Virginia to create new businesses for the state. The competition allows students, working as individuals or teams, the opportunity to submit a business idea to be evaluated by a panel of professors, venture capitalists, experienced entrepreneurs, high-tech industry leaders, CPA's, and business lawyers. Entries are divided into two categories: Lifestyles and Innovation.
Glenville State College had six entries in the first round of the competition, which required a three to five page summary of the student's business idea. These were scored by a panel of judges using a scoring rubric and ten plans in each category were selected to advance to the semi-final round.
GSC student, Barbara Blankenship of Braxton County, has advanced to the semi-finals of the competition for her business plan entitled Prison Literacy Program. Her idea is to sell and distribute used books to prisoners nationwide. Blankenship has a background of helping released prisoners re-enter society. "From my experiences I know that people who are incarcerated have a thirst for books to read. They read anything and everything they can get their hands on," she said.
Blankenship is a fifty year old non-traditional student working on an Education Degree. She already has a Degree in Marketing and Graphic Design from Virginia Commonwealth University. "I got interested when I saw the poster advertising the competition on campus. I went by Professor Cheryl McKinney's office and said I'm in," said Blankenship.
Ryan Brett Chapman is a GSC senior who will graduate in December with a Business Management Degree. He is also taking extra credit hours to earn a Landman Degree. He has moved on to the semi-final round of the competition for his plan called Big Horn Branch Brace. Chapman's idea is for a very portable and adjustable support for fruit trees whose branches are laden with fruit and ready to snap.
He came up with the idea after being summoned by his grandmother to help with her trees. "I actually had a couple different ideas for the business plan. This competition is a great opportunity for me to network with people in the business world," He said Chapman is the son of Susan and Larry Chapman of Glenville.
Blankenship and Chapman will now travel to the West Virginia Entrepreneurship Initiative Conference at The Charleston Marriott on November 12th for the semi-final round of the competition. Each team or individual will present a two-minute elevator pitch of their business idea to the conference attendees who will score the ideas. Then each team will participate in a series of interviews with business professionals to discuss their ideas. The top five teams in each category will advance to the final round in the spring.
Finalist teams are provided with comprehensive instruction and support in developing a complete business plan for their idea. They are provided an individual business coach to mentor their team and receive a stipend of $1,000 to work on their business. Each finalist team submits a 40-page business plan to a panel of judges and then makes an oral presentation to the panel. The final winner in each category is awarded $10,000 to put their business plan into action.
GSC senior Kim Conrad of Burnsville, West Virginia, did not make it to the semi-finals. However she still is considering pursuing her business plan idea, West Virginia Teen magazine. With the help of her daughters, Conrad would like to publish a magazine that would promote the educational, recreational, and career opportunities in West Virginia. The magazine would be geared for 12-19 year olds.
"All of our students who participated in the Statewide Collegiate Business Plan Competition exhibited a core characteristic of entrepreneurs; they took the risk of entering the competition. Having two GSC students as semi-finalists indicates the quality of a Glenville State education. " said Cinda Echard, GSC Associate Professor of Business.
Last year, six teams from GSC entered the West Virginia Statewide Colligate Business Plan Competition. Two of those plans made it all the way to the finals: Lance Hitt of Parkersburg, and Joshua Meadows of Charleston and Bryan Bush of Roane County. Neither won the top prize but did gain invaluable knowledge, business contacts, and experience.
For more information about the 2008-09 West Virginia Statewide Colligate Business Plan Competition, contact GSC Associate Professor of Business Cinda Echard at (304) 462-7361 ext. 7257 or visit www.be.wvu.edu
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