Budding entrepreneurs at Morehead State were given the opportunity to share their business ideas for a chance to win cash prizes.
The annual Business Pitch Competition took place Wednesday at the Bert Combs Building. The event was hosted by Janet Ratliff, an associate professor of entrepreneurship.
This event is a tradition on campus and is held every fall semester since 2016 to prepare students for the Kentucky Pitch competition, a statewide competition for universities across Kentucky.
"Many young people … are interested in working for themselves, and they have a lot of creative ideas,” said Ratliff.
Students were given two minutes to pitch their ideas to a panel of judges, who were then given eight minutes to ask any questions they may have had for the student presenting.
According to Johnathan Nelson, Dean of the Elmer Smith College of Business, it was clear that each contestant put great thought into their pitch and business ideas.
“I really applaud these students for being willing to share something so close to them,” said Nelson. “That’s really what entrepreneurship is all about.”
Three winners were chosen to take home cash prizes provided by an endowment from the university.
Third place went to Jared Thompson, who won $100 for the pitch of his own cinematic universe.
Second place and a prize of $200, went to Kennedy Little, for her business "Farm Transition Academy."
Sarah Lager landed first place and a prize of $300 for the presentation of her business, "DeCOMP Box," which aimed to limit waste from typical cardboard recycling with her own form of compostable packaging.
The basis of a good business pitch, according to Ratliff, was creating something that solves a problem. It must be a good idea that you can articulate well and is completely unique.
“There has to be somebody out there who wants and is willing to pay for what you’re offering,” said Ratliff.
The next Business Pitch Competition will be held again when the Fall season rolls back around on campus next year.