TheOther40 business plan competition gives Southern Illinois University Edwardsville students real-world experience to develop business plans, pitch business ideas, and learn what it takes to launch a new business.
The SIUE School of Business and Entrepreneurs’ Club hosted its 12th competition in 2022, which concluded on April 21. Eight finalists competed for $10,000 in prize money.
School of Engineering senior Adam Morris achieved first place and $5,000 for Power Frisbees, an automatic Frisbee launcher that can be used for ultimate Frisbee practice for both individuals and teams. Currently there are no training tools that can replace a partner when it comes to practicing catching Frisbees.
Taking the $3,000 second-place prize was Brayton Larson and Benjamin Kaschke for Future3D. The company plans to offer a cost-effective and reliable desktop 3D printer filament extruder that requires minimal user intervention and can be easily operated by an experienced 3D printer user, while fitting on a desktop.
School of Business senior Brenna Hopper with On the Wall Storage and Décor earned third place and $2,000. On the Wall Storage and Décor is a new approach to jewelry storage. By combining storage with wall decorations, it provides customers with jewelry holders that are beautiful and unique in design.
Other finalists included Jacqueline Corral and Ryan Bucher (Handling Basics), Hannah Gassmann (NewsReel), Luke Jackson (Shower Magics), Eric Nelson, MaKayla Watson, Ryty Dupont-Barlow, Kimberly Morrison, and Lauren Mulvihill (MaskT, LLC) and Bethany Seely (Plannerly).
The Other40 derives its name from data that shows approximately 60 percent of startups fail within five years. The goal of the program is to find, engage and support the other 40 percent. The competition is supported by an entrepreneurship education initiative gift provided to the SIUE School of Business by the Martinson Foundation.
“The winning pitch from Power Frisbees combined an innovative idea with true market potential,” noted School of Business Dean Tim Schoenecker. “We expect the prize money will help that team move its prototype closer to market. I’ll be excited to see where Power Frisbees goes in the future.”
“As the campus was rebounding from the effects of the pandemic,” Schoenecker added, “I appreciate the efforts of the Entrepreneurs’ Club student team and Dr. Yohan Choi, the faculty advisor of the club, for organizing the 12th annual The Other40 competition. They managed every aspect of The Other40 and ensured that the competition went smoothly. I also appreciate the efforts of our Small Business Development Center and its director Jo Ann Di Maggio May to provide workshops for the participants and identify judges for the various rounds of the competition.”
Photo: (L-R) SIUE School of Business Dean Tim Schoenecker, PhD, and TheOther40 winner Adam Morris.