April 11, 2012
Students place in statewide business plan competition
The Paul R. Carter College of Business Administration at Harding University competed in the 12th annual Donald W. Reynolds Governor’s Cup, a statewide business plan competition for college students. One participating team from the University was named among the top three.
The DWRGC is an annual competition hosted by the Arkansas Economic Acceleration Foundation that seeks to encourage an entrepreneurial spirit among graduate and undergraduate students and recognize them for their initiative and creativity.
In February, after spending months to prepare a 30-page professional business plan, a number of Harding teams submitted entries into a pool of 53 submissions from 14 universities throughout the state. The business plan included a product/service description, marketing plan, operating plan and pro forma financial statements.
On March 8, five Harding teams progressed to the next round of the competition, which took place on March 29-30 at the Little Rock Hilton Hotel. There, they made oral presentations for a new group of volunteer business executive judges. Of those five teams, one team, Vita “Intelligent” Labels, placed 3rd, securing a cash prize of $10,000. They were also given the Innovation Award, with a cash prize of $5,000.
“Placing five teams in the semi-finals is a Harding record,” said Dr. Allen Frazier, sponsor of the Society of Advancement of Management. “These students have to commit a lot of their time and energy to make it to this level, and I am extremely excited for them.”