The Fort Hays State University Center for Entrepreneurship welcomed aspiring entrepreneurs to the W.R. and Yvonne Robbins College of Business and Entrepreneurship on March 30 for the Faulkner Challenge business plan competition. Reorganized this year, it is the largest event of its kind in northwest Kansas.
The Faulkner Challenge was developed to seek new, independently proposed ventures in the conceptual, seed or startup stages. The event is made possible by the generosity of Kevin Faulkner, a Fort Hays State University alumnus.
Entries from high school students, college students and community members were received. Teams submitted written plans for a chance to compete for $10,000 in prize money. A record twenty-seven business plans were received with a total of 47 participants involved in working on the projects. The eight most comprehensive plans were chosen as finalists to attend the event on campus. These teams delivered ten-minute oral presentations before an exceptionally qualified panel of judges which included Coleen Ellis, Kevin Faulkner, Steve, Riat, Dustin Roths and Tammy Wellbrock. The three highest scoring teams were selected as winners.
“For the first time hosting this event with the enhanced format, it was impressive to see the level of interest in entrepreneurship in the region and the variety of ideas from the competitors,” said Dr. David Snow, the director of entrepreneurship for Fort Hays State University.
SafeDrop won first place and the $6,000 prize. The team members are FHSU undergraduate students Hayden Hutchison, Haley Jones, Pablo Garcia, and Adam Schibi who are working on a gunshot detection software application to notify law enforcement and warn app users in the vicinity of an active shooter.
“I had a tremendous learning experience at this year’s Faulkner Challenge. Our team collaborated on refining our project, we spent hours together practicing and worked hard,” stated Hutchison. “I’ve grown in the areas of research, writing, speaking, collaboration and understanding the fundamentals of launching a product or service.”
The second place award of $3,000 went to Wright Enterprises, LLC. Dennis and Donna Wright are farmers from Bird City, Kansas who have started their own line of sunflower oil products.
“I feel like the Faulkner Challenge was an excellent experience giving us great feedback from experienced entrepreneurs. It was the perfect opportunity to reevaluate our company and gave us new direction on where we would like to go,” said Dennis Wright.
Kalliope, LLC won third place and $1,000. Kristin Blomquist from Assaria, Kansas, started this cosmetic company selling high-quality lotions, soaps, and other skincare products.
“I enjoyed meeting the other competitors and having a chance to share my business. It is helpful to participate in these types of events as they require you to sharpen your thinking and refine your plans,” said Kristin Blomquist. “It was a good day!”