UPIKE business students dive into shark tank at EKU
0By Fallon Tallmon
Some UPIKE business students took a leap in the shark tank. These students attended a recent EKU Business Concept competition in London, Ky.
The event had 15 teams from all over. Of the 15, four were from UPIKE.
The competition helped students to present an idea in front of judges. This specific competition is compared to the popular television show, “Shark Tank.” The show is about four extremely rich judges that evaluate start-up ideas. The judges decide whether they want to take part in the start- up. If they do, they give an offer of money in exchange for a percentage of the profit.
The process of the EKU competition was somewhat different. The competition was broken down into three groups of five teams. Then, the top two from each group advanced to the finals. They had 15 minutes to pitch the product in front of three judges. From there, they evaluated their performance.
Two UPIKE teams, the OrderEz team and the Appalachian Re-Tire team, made it to the final round and tied for second.
The OrderEz team is comprised of Andrea Robinette, Mason McCoy, Cory Gannon, and Brandon Hall. Their concept is to develop a smartphone application to decrease wait times, order errors, and wasted food for the quick-serve restaurant drive-thrus. The Appalachian Re-Tire team consisted of Bobby Hurley and Kevin Mullis. Their concept is to collect used and scrapped tires and process these tires for sale to companies who produce tire derived fuel (TDF).
Anthony Scerati, along with his group, was one of the brave souls that swam with the sharks. His idea that he presented to the judges was a GPS golf ball. His product helps golfers prevent losing golf balls.
“I learned that no matter what product or business you are trying to start, make sure you know the background information and know the proper funding in order to make your fantasy product a reality. Building a strong business plan is key for long term success too,”Scerati said.
Scerati’s team placed seventh and the final UPIKE team placed eighth place.