Continuing its 25-year tradition, the David D. Reh School of Business at Clarkson University has offered all first-year business students access to a panel of guest reviewers with a chance to secure real funding. start-ups for their new businesses.
The nationally recognized program is one of the few in the country to provide a platform for students in their first semester of university to develop plans for launching a business enterprise that students develop shortly after arrival. on the campus.
This year, nine innovative ideas were presented to a panel of four experienced investors. The invited venture capital fund managers reviewed presentations demonstrating that there was a market for the concept and that a solid financial assessment supported the demand for seed capital. Students who choose to continue with the program will have the opportunity to use the funds that have been allocated to launch the concept in the spring semester.
Concepts that were funded this year include;
- A custom designed stuffed animal that offers support for children with autism and those struggling with anxiety.
- A summer hockey camp focused on athlete and student development.
- A recovery device designed to provide hands-free therapy to athletes suffering from muscle tension.
- The reopening of a popular café on campus.
- A bakery providing artisan products for a variety of locations on campus.
- An innovation designed to assist rodeo competitors.
- A company selling branded clothing to meet the emergency funding needs of students.
Two concepts that were not initially funded but will have the option to apply for funding after revisions include competitive golf and a healthier energy drink.
Marc Compeau, professor of practice, leads the course and suggests that “the level of complexity of the concepts of the students increases every year. This year not only were they more complex, but they also seemed to focus on social impact, which says a lot about the generation.
“The students did an amazing job coming up with innovative concepts, crafting a business plan for their ideas and presenting their plans to the judges. I see immense potential in this new cohort of students. I can’t wait to see where the educational experience of The Reh School takes them, ”commented Diego Nocetti, Acting Dean of the Reh School of Business.
The Reh School trains business leaders who combine business acumen, analytical thinking, technical expertise and a global perspective for the benefit of business and society. His practical approach to business education is accreissued by AACSB and has a proven track record of success; Reh School graduates benefit from some of the best placement rates, starting salaries and professional mobility in the country.