UIW Hosts 2024 Business Startup Challenge

On Wednesday, Nov. 20, the UIW H-E-B School of Business and Administration (HEBSBA) hosted its annual Startup Challenge. Since 2009, this 13-week competition has been held every fall semester, allowing students to develop a business model from idea to actualization. The competition is organized by Dr. Jose Moreno and Dr. Teresa Harrison, co-directors of the Beckendorf Family Center for Innovation and Global Entrepreneurship and is open to UIW students from all campuses and schools.

During the competition, students participated in a series of workshops that helped them obtain a Business Opportunity Assessment Certificate, develop a successful business model for their startup and receive mentorship from business owners, local entrepreneurs and professional startup advisors. Six teams were chosen to compete in the final round giving them the opportunity to pitch their ideas to a panel of judges in the hopes of placing in one of the top three spots and securing seed money.

This year's competition theme, "Sustainable Solutions for a Better Future," encouraged students to think of new and creative solutions to real-world problems that would support economic growth. The challenge also incorporated the importance of social entrepreneurship and sustainability by requiring that each submission aligned with at least one of the UN Sustainable Development Goals.

The final six presentations did not disappoint. Students pitched unique ideas such as collapsable crutches that allow comfortable portability, medical aid kits with supplies to stabilize life-threatening conditions, body piercing protectors that mitigate infection and irritation and more.

The 2024 panel of judges included Olga M. Moucoulis of SAPD, Victor Reyna of Frost Bank and Yil Salaburu of Salco Solutions Group. Moucoulis and Reyna are both proud UIW alumni. Each judge posed insightful questions and offered constructive feedback to each group, ultimately determining which teams would be awarded seed funding to help turn their business dreams into realities.

"We are really proud of the development of competition," said Moreno. "We have had a lot of support from our community. Our mentors gave their time to our students, and we really appreciate their help."

The 2024 top three winners were:

1. Care Companion (Up to $6,000 prize)
2. Trece Coffee ($1,500 prize)
3. Flex Mag ($1,000 prize)

As a result of their first-place win, Gregory McNeal, Rosalia Tokunaga and Olivia Shadick of Care Companion won a $3,000 cash prize and have the potential to advance to the Hult Prize summit competition to win one million dollars. Care Companion will also have access to an additional $3,000 in travel money to attend the Hult National Summit.

Congratulations to this year's winners!

Click here to read more about the competition.