Imagine yourself sitting back in a chair, hands behind your head and your feet on the desk. Comfortable, right? Imagine yourself doing this in your own office, running your own business.
The Lyles Center for Innovation and Entrepreneurship has made this dream of owning and running one’s own business a closer reality than most students are usually given the chance at.
Tomorrow, four students will compete in the Peters Educational Center at the Fresno State Student Recreation Center at 11 a.m. in the final round of the Student Venture Challenge. After the presentations are over, one student will be presented with $5,000, provided by Alibaba.com. The runner-up will take home $2,500.
At the start of the year, students were encouraged to submit 90-second video business pitches via YouTube. During February, these videos were judged and 20 students were selected to move to the semifinal round.
After the 20 students made a presentation to a panel of judges, five finalists advanced to the final round of competition for a chance at $5,000 and an office they can call their own in the Lyles Center Hatchery.
“[The Lyles Center] believes that entrepreneurship is a key factor in overcoming economic hardship,” Dr. Timothy Stearns, executive director of the Lyles Center, said. “The Student Venture Challenge has helped to form both the students’ business ideas and their entrepreneurial mindset for after they graduate college.”
One of the finalists recently bowed out of the competition, leaving only four to compete for the grand prize at Saturday’s final round.
“The marketplace is highly competitive and this competition aims to give students that real-world experience,” Dr. Stearns said. “We’re not going to hold the students’ hands until the final round ”” we’re going to aid them and give them advice that will not only help them in the competition, but in life after school.”
The competition was open to students of Fresno State and 11 other community colleges in the Central Valley. Although each of the finalists is a Fresno State student, that doesn’t mean that he or she will have an advantage during the final presentation.
“We’ve selected judges who are going to be as unbiased as possible,” Genelle Taylor, associate director of the Lyles Center, said. “We gathered together seasoned professionals and successful entrepreneurs that would be the most beneficial to the students in providing constructive criticism and praise for each business model.”
The judges include investor and entrepreneur Rock Clapper, Maury Domengeaux, CEO of iSearch Media; and Edward McNulty, principal of the Central Valley Fund.
Each finalist is a business administration major at Fresno State looking to graduate within the next couple of years, if not this spring. One finalist, Anmmar Alsaggaf, says he finds himself at no disadvantage in the competition, as he was born in Jeddah, Saudi Arabia.
“I’m often told that I might not have the same advantage as others, due mostly to my ethnic background,” junior entrepreneurship major Alsaggaf said. “I think, however, that no matter where any of us come from financially, ethnically or religiously will determine how we succeed in this competition ”” we’re students and we all have amazing business ideas that we can’t wait to launch.”
The finalists each have different business ideas that they will be presenting to the judges on Saturday: Alsaggaf has pitched the business “Grease Monkey Mobile,” a mobile oil service that will provide its customers with worry-free car assistance. Tiffany Lowe, a Fresno State entrepreneurship major, has developed “Justina Confections,” a selection of homemade confections that will be offered as gifts adapted to the customer’s liking.
Justin Page, a senior management major, has pitched “Dressings to Impress,” a line of all-natural condiments, marinades, pasta sauces and salad dressings. The final student presenting on Saturday, Lyle Quillin, has developed a home-service business, “Cal Services,” which offers customers assistance with any routine maintenance one would need with a pool, lawn or around the house.
“While it’s important to note that we’re all students competing,” Alsaggaf said, “it’s also important to realize that we’re not ignorant children ”” we are business-minded, young professionals who are striving for the best for our futures and we believe that [The Student Venture Challenge] is really giving us the opportunity to succeed.”