The second annual Fowler Business Concept Challenge was held Oct. 22 on the Minneapolis campus with teams representing undergraduate and graduate divisions from across the University of St. Thomas. More than 66 business concepts were entered by teams composed of one to three people. Four teams in each of the graduate and undergraduate divisions took home scholarships ranging from $10,000 per person to $1,000 per person.
Focused on energizing the entrepreneurial spirit of UST students across campuses and colleges, the Fowler Business Concept Challenge asks students to develop a business concept that has the potential to become a viable high-growth business. The teams that submit the winning business competition in each of two divisions (undergraduate and graduate) receive University of St. Thomas scholarships.
Concepts were judged on their originality, clear and compelling value proposition, competitive advantage, market opportunity and feasibility by a panel of judges drawn from the business community and St. Thomas faculty, including Ron Fowler; Ben Anderson, founder and CEO of Cinemation; Jan Hildebrandt of 3M; Susan Johnson, founder and CEO of Magellan Medical Technology; and other leading entrepreneurs. The award scholarships were made possible by generous contributions from 3M and Fowler ’66, chairman and CEO of Liquid Investments Inc.
The Fowler Business Concept Challenge was open to all UST students registered for the fall 2010 semester, including undergraduate, graduate and doctoral students.
This year’s winners:
- Susan Wuollet and Michael Wuollet – first place, Graduate Division ($10,000 scholarship each) for their concept, the Styptic Fibrin Bandage
- Matthew Scott and Sarah Tinsman – first place, Undergraduate Division ($10,000 scholarship each) for their concept, Student Frenzy
- Cyrus Zaeske and Kelsey Nelson – second place, Graduate Division ($5,000 scholarship each) for their concept, TripRoamer
- Michael Weiss – second place, Undergraduate Division ($5,000 scholarship) for his concept, Aakari
- Scott Clute – third place, Graduate Division ($2,500 scholarship) for his concept, the Curvy Bride
- Lukasz Wlosiak and Paul Armstrong – third place, Undergraduate Division ($2,500 scholarship each) for their concept, Global Doc
- Ryan Edstrom – fourth place, Graduate Division ($1,000 scholarship) for his concept, Insti-Park
- Solome Tibebu – fourth place, Undergraduate Division ($1,000 scholarship) for her concept, Tools for Schools
Also winning $1,000 scholarships each were Clute, for best presenter in the graduate division, and Weiss, for best presenter in the undergraduate division.
For more information visit the Fowler Business Concept Challenge Web page.
