Tim Burgoyne, an assistant professor of management, along with his business class students, is hosting an event called “Quaker Tank” in the Hugh G. Heiland Theater on Wednesday, April 24. Doors are scheduled to open at 5 p.m. with the event starting at 6 p.m. Included is free admission, free catered Subway during intermission, and the opportunity to win prizes such as gift cards in a raffle.
This brand new event is inspired by the hit TV show “Shark Tank” that airs on ABC. Eight students who dream to have a future as entrepreneurs after graduation were picked to present their business ideas to five judges. Each student has three minutes to pitch their idea and present to the judges a one-year financial plan.
The judges will be given rubrics to determine winners based on three criteria: if the idea is feasible, how creative it is, and how well the pitch was sold. The students who are deemed to have the best ideas will be rewarded cash prizes to invest as startup money for their business ventures.
“I’m actually pretty nervous. We’re supposed to spend three minutes giving our pitch, and then we have a five-minute Q&A with the judges, and we have no idea what they’re going to ask,” said Jared Shoemaker, a student presenter at the event.
Other student participants include: Trent Brown, Kaleb Harp, Adrianna Hibbard, Daniel Kappelin, James Stobaugh, Haley Voehringer and Ryan Wiemken.
“This event gives students hands-on experience in entrepreneurship where you are creating and taking your ideas and putting them into action,” said Burgoyne.
The total amount of money available as prizes is $1,250. However, that money is split between the five judges, thus each judge can only award $250 in total. The judges are not limited to how they award their allotted prize money – a judge could give the entirety of their money to one student, or split it in such a way that allows for each student to receive some kind of investment. This allows each contestant the opportunity to walk away with a bit of the prize money.
“What I’m hoping is that this event will have a legacy to it, and eventually, we might even be able to look for outside funding,” said Burgoyne.
The business class that has been planning this event will also be debuting their first literary journal entitled “Be Creative Literary Journal.” Copies of the journal will be available for sale in the lobby of the Boyd Cultural Arts Center. This journal features 15 pictures, 15 short stories, and 15 poems from a myriad of people involved on the Wilmington College campus.
All of these published pieces were selected as the most-outstanding of the 200 submissions. The magazine will also be available for sale after Quaker Tank on Amazon.