WYOMISSING, Pa. — Penn State Berks students who have an original idea for a product or service are invited to enter the Student Enterprise Award Contest. Award winners could receive up to $3,000 of seed money for their business startup idea. Applications are due by 5 p.m. on Friday, Nov. 30, and business plans are due by 5 p.m. on Friday, Dec. 4.
The Student Enterprise Award Contest is the Penn State Berks version of the popular TV series "Shark Tank:" Students present their ideas for a business start-up, and the college's Flemming Creativity, Entrepreneurship, and Economic Development (CEED) Center presents the winning teams with the Student Enterprise Award to be used as seed funding to support an innovative student or student team in their business startup.
The application process has three steps. First, students submit an application form with product / service description by Nov. 20. Next students complete a business plan by Dec. 4. Finally the startup idea will be evaluated by the Student Enterprise Award Committee, who will assess the student or teams passion for their product, business plan, prototype, marketplace, and overall understanding of quality, safety and ethical issues, as well as government regulations required for their new business.
The committee will select potential award recipients to present their business idea, including the business plan and prototype if applicable. Students will also need a mentor during the startup phase of their business.
The student or team selected for a Student Enterprise Award will receive the funding in multiple installments.
For more information on the award, visit https://berks.psu.edu/about-the-student-enterprise-award. For additional information or questions, contact Professor John Weber, competition coordinator, at jpw10@psu.edu.