An eight-week program of learning will culminate in the second annual Business Idea Competition, sponsored by Regions Foundation and hosted by the Sorrell 360 Center and the IDEA Bank.
After spending eight weeks learning about various topics, participants will compete for thousands of dollars in seed money starting at 10 a.m. on Wednesday, Dec. 4. The program taught participants about business vision, target markets, strategy and pitch presentation.
Regions Foundation has partnered with the IDEA Bank to launch “TROY Starters: Idea Accelerators powered by Regions Foundation” which encompasses multiple pitch competitions and accelerator programs in 2024-25. The Business Idea Competition is one of these programs, and Regions Foundation has funded the entirety of it, including the cash prizes.
“This partnership demonstrates Regions’ commitment to fostering entrepreneurship, leadership, and community development in our region,” said IDEA Bank Director Lynne George.
Last year, the IDEA Bank and the Sorrell 360 Center held the inaugural pitch competition, where four individuals participated and $1,000 was given away. This year, 22 students submitted applications and nine have been selected to advance to the competition, where they will vie for $4,500 in seed money. Competing are: Autumn Martin, Cameron Miller, Ernestina Luna, Jamarion Willie, Kameryn Mitchell, Vamsi Jupudi, Renfeng Gao & Zhengbo Lin, Stephenie Pereff, and Savannah Burg.
“The main focus is that every student who participated in this program will be able to walk away with a well-defined business plan,” said Preston Pritchett, a lecturer at Troy University who works at the Sorrell 360 Center.
Pritchett said that while many people will focus on the money, the skills learned by participants is one of the most valuable things that they’ll get.
“Any entrepreneur will tell you that being able to create a well-defined business plan is the bedrock principle of starting your own company,” Pritchett said. “I’m very excited to know all the participants will have [those skills] secured.”
In the future, there are plans to continue the pitch competition and expand the scope even further.
“We hope to engage more students at Troy University and continue to increase the prize money we give away,” Pritchett said.
