Entomeal Awarded First Prize in W&L’s Business Plan Competition The top three teams received a total of $7,000 in cash prizes.
“My sense is that any one of the six finalist teams could go on and ultimately build viable businesses based on their entrepreneurial visions.” ~ Professor Marc Junkunc
Six student teams, selected from 11 semi-finalist teams, participated in the annual W&L Business Plan Competition finals on Saturday, April 6. The winning teams took home a total of $7,000 in cash prizes.
Students enrolled in BUS 399 Entrepreneurship this academic year were tasked with presenting executive summaries of their unique business plans to a panel of alumni judges in the semi-final round. The finalists were then invited to present their concepts to the judges.
The first-place team, Entomeal, presented a business model that promises to produce sustainable, insect-based fish-feed. The team was awarded the grand prize of $4,000.
The finalists sat down with alumni judges on Friday, April 5, to discuss their business plans and garner feedback. They were then given the chance to fine-tune their presentations for Saturday morning’s finals.
“This competition represented a lot of hard work and very strong entrepreneurial thinking by our students,” said Marc Junkunc, Associate Professor of Business Administration. “It truly was the culmination of a capstone experience and four years of business education at W&L.”
The panel of judges consisted of alumni with extensive experience in multiple areas including entrepreneurship, food service, private equity, and venture capital. The judges were Lang Craighill ’76, Mary Drennen ’02, Bebe Goodrich ’07, Tim Lavelle ’79, Rhett McCraw ’07, and Reid Thompson ’04.
“The most challenging part of this competition was making sure that the pitch was well connected and delivered with clarity,” said Max Hanamirian ’19.
The judges deliberated after presentations on Saturday morning and selected three winning teams.
“I feel the judges were very impressed with each of the finalist presentations and selecting the top three finishers was no easy task,” said Professor Junkunc. “My sense is that any one of the six finalist teams could go on and ultimately build viable businesses based on their entrepreneurial visions.”
First place: Entomeal
Team members: Thomas Freeland ’19, Michael Beal ’19, Michael Kerr ’19, Maggie Nolan ’19, Tommy Winfield ’19
Entomeal’s business plan consists of producing sustainable, insect-based products. Their market entry strategy is to farm, process and create an insect-based fish-feed. Entomeal will operate as a business-to-business wholesaler to fish farms, selling premium, insect-based fish-feed onthe global aquaculture market (worth over $100 billion).
Second place: Badges of America
Team members: Barrett Snyder ’19, Albert del Cristo ’19, Dannick Kenon ’19
Badges of America is an automotive badge and emblem purchaser and reseller which brings used, quality badges to collision repair shops at an affordable price, helping these shops increase margins. The company seeks to implement a unique, innovative business model to the product area, unleashing the hidden potential in the industry.
Third place: Brain Trainer to You
Team members: Max Hanamirian ’19
Brain Trainer to You is a cognitive training service that connects individuals seeking to combat cognitive decline with personal brain trainers that come to your home. The service takes on a holistic approach: its sessions combine physical activity, mental stimulation, and socialization.