Eleven teams of students from Wallenpaupack, Honesdale, Carbondale, Delaware Valley, and Western Wayne presented their business ideas and plans they developed after a daylong seminar given by Robert Williams, Misericordia University, Director of Center of Economic and Entrepreneurship on Feb. 7. The event was sponsored by The Dime Bank.
-Eleven teams of students from Wallenpaupack, Honesdale, Carbondale, Delaware Valley, and Western Wayne presented their business ideas and plans they developed after a daylong seminar given by Robert Williams, Misericordia University, Director of Center of Economic and Entrepreneurship on Feb. 7. The event was sponsored by The Dime Bank.
"The teams had to develop an idea for an original product or service, research things like all of the expenses they could expect, the cost and profit margin of their product, marketing plans, etc.," said Bonnie Blair, assistant vice president and educational programs for EconomicsPennsylvania. "The students then prepared a written plan, elevator speech which describes and helps sell their idea, and visual aids and presented their plans to a panel of judges, much like the television show 'Shark Tank.'"
Local businesspeople including Bridget Gelderman, East Shore Lodging and Gift Shop; PJ Karpiak, Alice's Wonderland; Justin Genzlinger, Hawley Silk Mill and Settler's Inn; and Joe Adams, The Dime Bank, volunteered their time and expertise to serve as judges.
"After a tough deliberation, as all of the plans were excellent, the judges picked the top three teams and two honorable mentions," Blair said.
The top teams were:
Food in a Flash, a business providing delivery service of local restaurants' meals directly to your door. It was presented by Honesdale students Karin Lemon and Sebastian Echererra-Boterro
Produce Waste Recycling, a business which turns restaurant and grocery store compostable waste into high-quality fertilizer. It was presented by Wallenpaupack students Corine Peifer, Natalie Rice and Dana Williams
Snow Beam, a business that will make snowboarders happy by incorporating a special light into the front of a snowboard to better illuminate the terrain in front of the snowboarder during flat light or night skiing. It was presented by Wallenpaupack students Devin Distilli, Adam Haig and Kristian Sonsteby.
These students were awarded $100 per team and their plans will be entered into a state wide competition.
Honorable mentions were:
Easy Cups, by Honesdale student Kyle Krol, and MWave, by Delaware Valley students Erik Decker and Justin Knoepfel
Joe Adams of The Dime Bank said, "It was a very enjoyable event and a great way for The Dime Bank to contribute to the financial education and entrepreneurship programs for our local area students. Both skills are critical for their future. Congratulations to the winning teams, and to all of the participants, for all of their hard work, and for a job well done. It was a pleasure for me to be a part of this valuable and enjoyable experience."