On Tuesday October 19, 2010 the Herman J. Russell, Sr. International Center for Entrepreneurship, hosted a business plan competition where Georgia State business students presented innovative business plans for their shot to win a cash prize of $10,000.
25 plans were submitted in total. “In the end only four finalists remained, ” Greg Henley, the Director of the Herman J. Russell Center for the entrepreneurship stated.
Each of the four finalist presented an eight minute long presentation to a panel of four judges. Students, faculty members, entrepreneurs and other members of the business community were also in attendance to hear the presentations.
After all contestants presented, only one finalist remained to claim the $10,000 prize money. Robinson College of Business student Megan Smith was awarded the $10,000 grand prize for her business plan creation of Polish Protectors.
Smith said that she had come up with the idea for Polish Protectors after experiencing numerous failed nail-drying products.
Smith recalled one experience to members of the audience where she waited 2 hours for her nails to dry. Afterward, she ended up scuffing her hand against a hard surface and ruining her nail polish.
“Receiving this check was a great honor tonight, it really gave me that extra push I need to really get this project off the ground,” said Smith.
In addition to being a GSU business school student, Smith also has a background in sales and marketing. These, Smith said, were two attributes that proved to be very beneficial in creating this business plan. Smith said she plans to use the money to jumpstart the initial phase of the project, which includes making the product, creating advertising around it and attracting more investors.
The Herman J. Russell, Sr. International Center for Entrepreneurship has hosted the business plan competition since 2008 and will continue to hold the competition and help students achieve their dreams.
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