Come check out the best business ideas of area high school students at the High School Business Plan Competition on the Detroit Lakes campus of Minnesota State Community and Technical College on Saturday, April 26.
This is the fifth year for the annual contest, which is the project of M State’s Business & Entrepreneurial Services (BES) and Tony Parker, head of the Business Entrepreneurship Department on the Detroit Lakes campus.
The event, which is free and open to the public, begins at noon in Room C101, with the awards banquet set for 3:30 p.m. Participants, guests and community members will be treated to a pizza buffet, but attendees are asked to RSVP to Nicole Ballard at Nicole.Ballard@minnesota.edu or 218-846-3733.
The eight students competing for the top awards each has 15 minutes for a presentation and an additional five minutes to answer questions from the judges. The competing business plans, selected from 24 entries by area high school business students, were submitted by:
The student plans will be judged on overall feasibility, implementation, market potential, profit potential and growth potential. The student with the winning proposal will receive $500 plus space for one year in M State’s business incubator. Prizes are $300 for second place and $200 for third, plus entry to M State BES events and courses.
Parker said M State’s business plan competition is the only one for high school students in Minnesota. Since the first contest in 2010, sponsoring businesses have supported more than $3,500 in cash prizes for high school entrepreneurs, and M State has offered incubator space and BES courses worth more than $4,000.
“According to a 2011 Gallup Poll, nearly eight in 10 students in grades 5 through 12 say they want to be their own boss,” Parker said. “This competition is giving students the opportunity to live out their dreams.”