MTSU students gain confidence, cash at 2023 Business Plan Competition finals
Six finalists compete for more than $30K in prizes
MURFREESBORO, Tenn. - (05/26/2023) — MTSU rising senior aerospace technology and mathematics major Mervyn Thomas-Crawford said the idea for his Air-Aid Technology business stemmed from his days playing high school baseball, when he would suffer skin abrasions on his hip called raspberries when he slid into bases.
Crawford describes Air-Aid as a 3D structural support system that provides a controlled environment around the wound to allow for a natural healing process. He said the technology is based on the concept that abrasions heal more naturally amid constant air circulation, but the need for clothing or use of traditional bandages often prevents that and hinders the healing process.
Dressed in a black suit and matching black shirt, Thomas-Crawford explained his business plan for the product before a panel of judges inside the Student Union Parliamentary Room as the spring semester wrapped up. He was joined by several other student and alumni finalists who presented their own entrepreneurial ideas as part of the 2023 Business Plan Competition Finals in a bid to claim the top prize among the record $32,000-plus in prize money awarded this year.
Presented by the Pam Wright Chair of Entrepreneurship and the Business Innovation and Entrepreneurship Program, MTSU's Department of Management within the Jennings A. Jones College of Business again hosted the annual competition to provide entrepreneurial-minded students and alumni with an opportunity to develop comprehensive business plans while receiving feedback and advice from already established entrepreneurs and other professionals.
Thomas-Crawford (Air-Aid Technology) emerged with first place, followed by spring graduate Cory Sherman (Get Credentialed) in second; fall 2022 alumna Jamie George and partner Haley Harris (Like a Virgin Sober Bar) in third; and honorable mentions for Britton Cherry (Good Samaritan Hauling and Labor), graduating senior Samer Kattih (Kattih Syndications), senior Alexis Mahon (She-Ssentials) and senior Savannah Tucker (Savvy's Sweet Pecans).
Management professor and competition organizer Joshua Aaron, holder of the Pam Wright Chair of Entrepreneurship, said he's pleased the competition continues to grow in number of submissions as well as prize money - this year divided among the top three winners and four honorable mention participants.
Participants submit their business plans early in the semester, followed by an elevator pitch and trade show competition in March and the finals a month later. Slideshow presentations at the finals included details about potential target markets, sales and revenue projections and other relevant information in the "Shark Tank"-styled format.
"The thing that really stands out to me this particular year is how much growth I saw between the semifinals and finals," Aaron said. "The growth was amazing. The students are really investing time in these ventures, and they are so polished."
About a dozen judges gave feedback to students participating in the elevator pitch semifinals competition earlier in the semester, determining which ideas would advance to the finals.
"Whether they have the best idea in the world or just a decent idea, they've handled themselves with so much class and dignity and professionalism tonight in front of these judges," Aaron continued. "These judges take their time to come here to help these students grow and take their businesses to the next level."
First-time finals judge Dean Heasley, a digital marketing professional and partner in the Boro Business Lab, said he was "very impressed" with the finalists' presentations.
"We actually have two MTSU graduates that work for Boro Business Lab, so I know that MTSU puts out a great student," said Heasley. "But these students in particular are very impressive, and I've even asked one of the students if I could invest in the company."
Other finals judges included Lori Williams with Middle Tennessee Electric; William Fields with State Farm Insurance; Janet Martin with the Urban League of Middle Tennessee; Mike Williams with Tennessee Distilling; Wil Clouse, founder-president of The Clouse-Elrod Foundation Inc.; Missy Lay with Wild Goose Chase Events; Jessie Buntin, 2022 Business Plan Competition winner with Buntin Custom Cabinetry; Shelby Craig with Rocket Shirts; David Carrozza with Sacred Selections; and Aaron Davis with Limitless Solutions Publishing.
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