UA Students Win Big in Business-plan Competition

Three students from the University of Arkansas were honored April 30 as the first-place winners of the 2002 Arkansas Governor’s Award for Entrepreneurial Development competition.

The students competed against 60 other teams from 10 state colleges and universities in the contest sponsored by the Capital Resource Corp., an affiliate of the Arkansas Capital Corp.

This was the second year for the contest.

Michael E. Newcity and Jamie and Jeffrey Loftin created Yard Homes, a custom outbuilding for storage and recreational needs, and won $38,000 to start their business.

A Walton College of Business student, Stuart Walker, took third place by conceiving Sempurna Coffee Co. which would bring coffee-bean roasting machines into the home for personal use.

Yard Homes also received an SBC/Southwestern Bell Technology Achievement Award, a $5,000 prize.