John Brown University teams took first and second in the undergraduate division of the Donald W. Reynolds Governor’s Cup business plans competition during a ceremony held in Little Rock on Wednesday (April 11). The JBU business plans outlined enterprises in paint sample innovation and livestock hydration systems.
A chemical research team from the University of Arkansas garnered top honors in the graduate division. Fayetteville-based Boston Mountain Biotech is already researching better methods to purify proteins such as insulin and entered the contest at the urging of Carol Reeves, professor at the University of Arkansas.
There were 53 teams from 14 colleges and universities competing. Teams taking first prize won $25,000 to further their business goals. First and second place in the undergraduate division – Simpler Solutions and Hydrovate – will travel to Las Vegas in May to compete in the Tri-State competition.
“Our students have worked exceptionally hard to develop an idea from the ground up and transform it into a viable business plan,” said Eva Fast, JBU instructor of business and team advisor. “This kind of opportunity impacts our students far beyond graduation and it’s exciting to see their work acknowledged with such prestigious awards.”
In addition, JBU teams won the Innovation Award in the graduate division and the Agricultural Award and the Elevator Pitch Award in the undergraduate division. JBU teams were awarded a total of $52,000 in cash prizes.
Other state schools represented in the top six participating in the undergraduate division include:University of Central Arkansas,Harding University.
University of Arkansas, Arkansas State University and University of Arkansas-Little Rock were among the top six teams in the graduate division.
The competition requires each team to complete a thorough business plan including a mission, vision, strategy, marketing, financials and investment opportunities for the first five years of business.
1st Place: Simpler Solutions – John Brown University
2nd Place: Hydrovate – John Brown University
3rd Place: Vita "Intelligent" Labels – Harding University
AT&T Elevator Pitch Award: Hydrovate – John Brown University
Delta Plastics Innovation Winner: Vita "Intelligent" Labels – Harding University
Arkansas Farm Bureau Agriculture Award: Hydrovate – John Brown University
1st Place: Boston Mountain Biotech – University of Arkansas at Fayetteville
2nd Place: SpatiaLink Solutions – University of Arkansas at Fayetteville
3rd Place: Learning DifferentiatED – University of Arkansas at Fayetteville
AT&T Elevator Pitch Award: SpatiaLink Solutions – University of Arkansas at Fayetteville
Delta Plastics Innovation Award: Innovative Athletic Solutions – John Brown University
Arkansas Farm Bureau Agriculture Award: Cam Ah Co – Arkansas State University
More information about the Donald W. Reynolds Governor’s Cup competition Business Plan competition is available at dwrgovernorscup.org.