The Lyles Center for Innovation and Entrepreneurship at California State University, Fresno will host its fourth annual student business plan competition Saturday, May 2.
The competition, which is open to the public, will showcase Fresno State’s most promising young entrepreneurs who are ready to show the judges why they have a winning business idea and deserve the money and resources to make it a reality. It will be held in the Leon S. and Pete P. Peters Educational Center, located in Fresno State’s Student Recreation Center. The presentations will begin at 9 a.m. The awards presentation will be at noon.
In the past, the competition has offered $10,000. However, students in the Lyles Center’s Mentorship program organized this year’s competition and raised funds to up the ante to $25,000.
Five finalists from among 20 competitors will present to a panel of judges, who include founders, directors and CEOs of Central Valley businesses, experts in technology and product development and the winner of the Lyles Center’s $250,000 Business Plan Competition, which was held during the fall semester.
The five finalists are:
- Dreamstakes, which allows consumers to own high-end boats, all-terrain vehicles, recreational vehicles and jet skis without the hassle and maintenance. The venture will offer fractional ownership stakes to clients, allowing them to purchase equity in the recreational equipment for use several weeks each year. The company allows groups of clients to share ownership of the equipment at a more affordable rate.
- MotoXfuel TM Inc., which sells and distributes MotoXfuel TM, a premium performance supplement, to the extreme sports marketplace. The product, which contains a B-vitamin complex, necessary electrolytes and amino acids, comes in the form of a capsule so the athlete only gets essential ingredients.
- Remove-It, a professional-grade “eco-friendly” water spot remover that can be used in households and businesses. Its patented “Green Chemistry” gives the product a competitive advantage to seamlessly enter the global marketplace.
- Smart Solar Network, Inc., which provides the aftermarket maintenance and repair of photovoltaic (PV) systems. Smart Solar offers a lifelong partnership committed to helping clients maximize their PV systems by ensuring PV system performance, boosting disposable income and becoming better ecological stewards always in a safe and consistent manner.
- Sunspot Industries (SI), a snow, surf and skateboard shop with an attached indoor skate park. The company’s goal is to allow every person a chance to experience the thrill of riding a board. SI offers affordable gear, high end equipment and everything between to cater to every client’s individual needs. Additionally, SI is determined to help youngsters stay off the streets and remain safe with its mobile skate parks set up at various community parks.
The first place winner will receive $15,000, second place winner, $7,500 and third place, $2,500 to aid in the development of their businesses.
The first place winner also will receive one of eight spaces in the Lyles Center Hatchery to house the business. Operators will receive intensive mentoring and other assistance from Lyles Center staff, university faculty, community leaders and entrepreneurs.
In addition, the first place winner will be entered into the Draper Fisher Jurvetson $250,000 Venture Competition and receive a scholarship to attend a two-day E-
Myth Leadership Intensive Seminar, valued at $1,500.
For more information, contact Genelle Taylor at firstname.lastname@example.org or 559.347.6832.