Calling all innovators and entrepreneurs! Applications are being accepted for the annual K.C. O'Shaughnessy Competition and Showcase. The event—set for Friday, Feb. 21 from 11 a.m. to 2 p.m. in Schneider Hall— gives aspiring entrepreneurs a stage to present a three-minute pitch about an innovative business idea for an audience of potential investors. In addition to sharpening their pitching skills, $5,000 in cash prizes is up for grabs.
Soma used her prize money to advertise her business.
Rose Soma, a fashion design and development major who won the top prize last year, says she initially decided to do the competition for extra credit in a class.
"I figured I'd give it a shot," she says. "I ended up working extremely hard on the pitch, practiced for hours and actually really enjoyed the process—despite the nerves!"
Soma designs a shirt.
Soma's pitch involved her upcycled shirts business, where she applies creative approach to sustainability. She turns discarded clothing—which would otherwise end up in a landfill—into new, patchwork fabric and then uses it to design new garments.
She invested the $2,300 in prize money she won in to advertise her clothing and build up her online following.
"We hope that this process of coming up with an idea, communicating its value and the problem it solves will be a significant experience for WMU entrepreneurs," says Lara Hobson, director of operations for Starting Gate and instructor in the Department of Management.
Soma says she'd recommend the competition to all students, regardless of their entrepreneurial interests.
"The pitch competition did provide valuable feedback on my business ideas, which was extremely helpful, but it also helped me become a more confident public speaker," Soma says. "I got some really good practice with writing and presenting a business pitch, which will definitely help in other areas of my education."
The keynote speaker at this year's event is Carrie Jones-Barber, an alumna of Haworth College of Buisness and CEO of Dawn Food Products. This year's competition also includes a high school competition, with prizes in the form of gift cards.
Students should apply by midnight on Sunday, Feb. 9, to be considered for the showcase.