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Entrepreneurship Center's Second Annual 'Rise to the Challenge' Competition

Four University of Baltimore students and four UB alumni were been named finalists in the Center for Entrepreneurship and Innovation's second annual "Rise to the Challenge" Pitch Competition held last May. The competition awarded mentoring opportunities and cash prizes,

Out of 60 applicants, the field of eight were selected on the strength of their applications, which included a brief video presentation and an executive summary created by the applicant. Two basic categories—a new business idea, or an idea for existing business—were established for this year’s competition. "Rise to the Challenge" is organized by UB's Center for Entrepreneurship and Innovation, part of the Merrick School of Business.

Various awards candidates were presented during the competition, including a "crowd favorite." Total prize money topped $6,000—triple what was given out last year. Another $9,000 in in-kind services was awarded to the winners.

Johnetta Hardy, director of the center, said that in only its second year the competition has established itself as both a source for potential funding and an outlet for something even more important: mentoring. Each finalist, Hardy said, spends time sharing ideas and approaches with specially-selected business leaders, some who are UB alumni and some who simply want to support up-and-coming entrepreneurs.

"I cannot put too much emphasis on how much value that brings to anyone who has an entrepreneurial mindset and an idea for a business," Hardy said. "You just can't pin a dollar amount to it. So while the pitch competition's monetary prizes are, all around, highly attractive to our competitors, what they really rave about is the chance to, in effect, meet the future, by working with and getting feedback from those who mentor them. Naturally, people with ideas want to share them. Sharing them with others who also have ideas: that's the magic."

The winners of the 2014 ‘Rise to the Challenge” competition and their pitches are as follows:

  • UB Student New Idea - Cash Prize $500: Nikolay Ratajczak. B.S. ’14 - The Charm City Model is a residential real estate development business that is socially, environmentally, and financially responsible for rehabilitating and leasing vacant properties within targeted city neighborhoods, for the purpose of neighborhood revitalization.
  • UB Student Existing Business - Cash Prize $2,500: Michael Palmisano - Guitargate.com is the marriage of a college-level guitar curriculum with an interactive social network, designed to recreate the experience of studying at a world-class guitar school at a price point anyone can afford. The site is live and student feedback has been outstanding.
  • UB Alumni New Idea - Cash Prize $500: Michael Horton-Tobbs, B.S. ’94  is a unique brand of men's ties, which comes with a matching handkerchief and cufflinks packaged in a gift box covered in the same material as the tie.
  • UB Alumni Existing Business -Cash Prize $2,500, Adrian Hessen, M.B.A. ’04 TenantRex delivers by standardizing fragmented lease comp data into effective rents, aggregated averages and analytic metrics. This provides brokers with insights into market trends and accurate benchmarks for leasing strategies and negotiations.
  • Crowd Favorite, New or Existing - Cash Prize $250:  Michael Palmisano - Guitargate.com (see above).

Learn more about the Center for Entrepreneurship and Innovation.

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