Five Ball State University students have a chance to showcase their entrepreneurship skills at the I-69 Collegiate Innovation Challenge on Friday.
Ball State seniors Ashley Wiswell, Kamille Jones and Mike Beer, along with junior Zachary Alexander and sophomore Kaitlyn Caraway, will be teamed up with students from colleges on the I-69 corridor. Their task: to come up with a business idea that answers the question, "How might we create a for-profit business solution that results in a healthy and sustainable lifestyle within Indiana?"
Kate Bedinghaus of the Grant County Economic Growth Council said the purpose of the event is to encourage entrepreneurship students to think outside the box and to come up with ideas that could potentially lead to a new Indiana business.
Upon arrival at the Swan Lake Resort in Plymouth, one student from each school will team up. Each team will then have approximately 13 hours to come up with a realistic business idea and prepare a presentation for a panel of judges.
Before arriving in Plymouth, students are not told much. They are given the question and told what they must do before presenting to the judges.
Wiswell said the event is supposed to be impromptu and students are encouraged not to research the subject too much before arriving because other members of the group may have a completely different idea.
Caraway said the event would be a great opportunity to learn from other young entrepreneurs' creative insights and how they will work that into creating a career and business for themselves.
The students said they also hope their experiences at Ball State will aid them in the challenge.
Wiswell said her experiences in the residence halls and lectures have helped her become more outgoing and more willing to express herself in group projects.
"Being put into situations such as the residence halls make you put yourself out there and say, 'This is what I think, this is who I am and these are my ideas,'" she said.
Caraway said she thought the classes she has taken would give her the "extra drive to put [her] creative twist" on the project.
Bedinghaus said the challenge began in November 2006 when the Grant County Economic Growth Council saw a similar program by the state economic development group. The council used that program as inspiration to send an entrepreneurship spark up and down the I-69 corridor, where many colleges are located, she said.
When time is up the groups are judged on innovation, teamwork, quality of the presentation and whether the solution can make a difference, Bedinghaus said.
Each member of the winning team receives a solid gold coin valued at $500, she said. The members of the second place team each receive a $100 Visa gift card, and members of the third place team receive a $50 Visa gift card.
As the event approaches, the students said they were excited to meet their teammates and to see what they can do in such a short time.
"It will be a rush," Wiswell said.
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