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Cupid’s Cup competition sparks entrepreneurs
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Related Topics: College Park
College Park (Map, News) - Business is booming at the University of Maryland.
Put in as a collaborative effort between the Dingman Center For Entrepreneurship and Kevin Plank, a U.Md., graduate and chief executive of Under Armour, the 2nd Annual Cupid’s Cup competition looks to help spark up-and-coming entrepreneurs to reach their dreams. Started a year ago, the cup is a competition that pits U.Md. students against one another to win a part of $22,500 that Plank has donated to help grow their business.
“Great companies come out and it’s been a tremendous asset for the program,” said Asher Epstein, the managing director at the Dingman Center for Entrepreneurship, part of the Robert H. Smith School of Business.
The contest began as part of a weekly program called “Pitch Dingman,” an hour-long weekly event where students could come to present their entrepreneurial ideas. Each month, the best would be awarded $500 to continue their work. Last year, the weekly event would draw about 130 students. This year, it’s pushing 200.
As a way to continue that program, Epstein discussed with Plank the idea of creating a yearly event for young entrepreneurs. Before Under Armour, Plank created a business during his time at U. Md. called “Cupid’s Valentines” that made him about $20,000. Taking the name of his first major venture, Plank helped to establish the Cupid Cup as a carrot for aspiring students.
To be eligible for the cup, entrepreneurs must already have their vision up and running, making more than $5,000 annually, but less than $500,000. Last year’s winner, North Star Games, recently signed a deal with Target to have a board game marketed nationally during the holiday season.
This year’s winner, Goozex Inc., a Web-based video-game trading community won the top prize, coming away with $15,000 to advance itself in the market place.
"Entrepreneurs and small business are going to be the economic drivers of the 20h century, so we have created a range of programs and classes to make students successful," Epstein said.
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6:03 PM MST on Wed., Mar. 5, 2008 re: "Microsoft funds may provide seed money for local beauty firm"
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Examiner Reader said:
Dana's idea was so innovative. She should have won!
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