SU hosts annual Entrepreneurship Competitions for students with a $20,000 prize
Salisbury University hosted the Shore Hatchery April 20,2017, which was open to anyone pitching their business ideas or products.
On April 21, 2017, the day was dedicated for the students called the Entrepreneurship Competitions for students.
After almost 12 hours of intense scrutiny, a pool of 50 entrepreneurial teams has been dwindled down to four.
It's the final step in the student competition for the Bernstein achievement award.
Senior Megan Newcomer is among one of those teams, called the Neuro Helmet Systems. They placed second last year, as the money helped them create their first prototype.
"The first prototype is essential a cube almost like a prism that reflects an LED screen out in front of you onto a transparent acrylic material. From that you can basic things, arrow, distance to turn, your proximity sensor flashers, the road name you need to turn on," Newcomer says.
SU's Executive Director of Economic Development Bill Burke says the pressure is on when you present to the judges as their votes were tabulated from a standpoint of how much those the judges would invest in those business.
We got a look inside the Gull Cage Round, which mocks a shark tank feel.
Teams pitch for one minute, followed by four minutes of questions.
We are told this is more than just the cash, as many teams build their own businesses in the community.
"To us that's what's it's all about, enabling, creating the idea providing the encouragement, motivation and a little bit of winnings to help them do that, to satisfy their dreams," Burke tells 47 ABC.
The team that won the Bernstein Achievement Award for Excellence was Reynolds Rentals winning $20,000.
The student partners, Allen Reynolds of Smithsburg, MD, and Katherine Hairsine of Jarrettsville, MD, proposed a luxury temperature-controlled storage facility in Smithsburg, where homeowners affected by recent homeowners association policy changes that disallow working on cars, boats and motorcycles at private residences would have a place to perform that work.
Second place was Instant Export Tiling Systems, a system allowing the easy leveling of tile during installation.
Third place was Student University Housing Ambassadors, a company connecting students with area rental properties using an online interface and social media.