Business pitch competition challenges students to present start-up, product ideas

Students pitched their business ideas to a panel of business professionals on Friday during Northwest's annual New Venture Pitch competition. (Photo by Lilly Cook/Northwest Missouri State University)

Nine teams of entrepreneurial-minded students pitched their business ideas on Friday to a panel of business professionals in hopes of earning some funding to help launch their start-ups.

Missouri University of Science and Technology students Adam Camerer and Tohajie Rae received first place for their business idea, The PolliBot Company. (Photo by Lilly Cook/Northwest Missouri State University)

The stage was Northwest Missouri State University’s annual New Venture Pitch competition, and after three rounds of competition that involved elevator pitches, display booths and then a final 10-minute pitch with a question-answer session, The PolliBot Company took the first-place prize of $2,500.

In addition to Northwest students, the competition is open to any college. PolliBot consisted of Missouri University of Science and Technology students Adam Camerer and Tohajie Rae pitching a robotic pollination system to aid farmers and improve crops.

“The presentations are always impressive, and it’s great to see all the creativity taking place with some great business ideas,” Dr. Ben Blackford, the director of Northwest’s Melvin D. & Valorie G. Booth School of Business, said. “I also like the fact that even if some of the students maybe aren’t planning on ever pursuing all of their ideas, this gives them a great opportunity to practice their presentation skills, interact with industry professionals and really kind of brush up on some of those soft skills.”

A Northwest team of students Kaylee Bauer, Trayvon McCalib, Hunter Rader and Abby Stamp took second place for their idea, Sleep Smart. They pitched a high-tech pillow designed to provide specialized solutions, including temperature controls, for achieving better sleep. They received $1,500 toward costs associated with establishing their business.

Left to right, Kaylee Bauer, Abby Stamp, Trayvon McCalib and Hunter Rader took second place for their idea, Sleep Smart. (Photo by Lilly Cook/Northwest Missouri State University)

The Sleep Smart team developed its idea through a brainstorming session and saw an opportunity to create a pillow using technology similar to other sleep-tracking devices.

“It was really eye-opening because I feel like it could give you an idea of what it could be if you were to start your own business and pitching it to people you don’t know,” Rader, a senior business management major from Chillicothe, Missouri, said.

The annual New Venture Pitch Competition provides business students and entrepreneurs with an opportunity to present their ideas to small business owners and investors in a competitive setting. Participating Northwest students were enrolled this spring in the University’s entrepreneurship course, a requirement for business management majors.

Teams of judges, who are business leaders and Northwest alumni from throughout the region, evaluate each presentation and rank teams on the effectiveness and persuasiveness of their presentations as well as the innovation and quality of their ideas, the competitive advantage of their proposed businesses, effective discussion of financials and proposed management teams. Ultimately, judges base their final decisions on how likely they would be to invest their own money in one of the proposals.

Other business pitches in the final round of competition offered all-natural protein bars and smart pajamas.

“I really am impressed with the innovation, the technology and the thought process that the students have used in what they come up with that is an innovative product or service,” said Rex Broad, a Northwest alumnus and member of the Northwest Foundation Board of Directors who served as a judge for the final round. “It amazes me how in-depth they study or research.”

Funding support for the competition was provided by the Melvin D. & Valorie G. Booth Endowment Fund. In addition to the prizes awarded to finalists, all participants received a Walmart gift card.