PLANNING TO WIN
Entrepreneurs compete for top prize during competition at Skidmore College
SARATOGA SPRINGS, N.Y. >> For the seventh straight year, Skidmore College hosted its Kenneth A. Freirich Business Plan Competition on Friday.
Eight entrepreneurs, all Skidmore students, presented ideas to a panel of seven judges Friday afternoon at the Murray-Aikins Dining Hall’s second floor.
A total of $60,000 in prizes was being offered, and all of the competitors took home something. The prize for first place — $20,000 — went to Fries First; second prize of $10,000 went to Halo Venus; the third-place prize of $5,000 was awarded to Music Match; fourth prize — $2,500 — went to The Global Exchange Project.
“I think this a fantastic opportunity for students who engage in the competition,” said Freirich. “I tell them every year there are no losers.”
Freirich, a 1990 graduate, started his first business as a Skidmore sophomore. He understands the importance of entrepreneurs.
“The competition means so much to me. First and foremost it’s a way of me giving back to an institution that has given so much to me,” said Freirich. “For me, this competition is a platform and support for students I never had. But really, it’s to foster their entrepreneurship and creativity and to help them build businesses and organizations.”
Freirich said over the years, more than 60 percent of participants are non-business majors.
“To me it really means a lot to be able to provide that support and infrastructure and to see them learn, grow and succeed,” said Freirich.
Every student or students had a mentor to help with their business plan or business model. The ideas ranged from baked goods, like Yuelin He’s Halo Venus, to rolling papers, like freshman Izaak Cohen’s Z’s.
“We’re a cannabis-friendly family, so it’s always been very normalized to me, so through that experience I was really able to understand what is offered right now currently in the market ... and there’s a major lack in
the market, as far as highquality luxury brand rolling papers,” said Cohen. “This is really just the beginning. Rolling papers are the start. We plan to offer products for every aspect of the smoking experience.”
Last year, AuxNation took home third place in the competition. Zack Jones, from Saratoga Springs, cocreated the app with two friends after realizing the need for it during a night deejaying.
“It’s a mobile application that allows DJs to interact with their audiences in a variety of different ways,” said Jones. “Basically the point is to account for crowd taste and we are going to have a bunch of features that allows the DJ to do this before the show and at the show as well.”
The other pitches included the Global Exchange Project, Music Match, Melange, Fries First and Kind Cultures.
The Global Exchange Project, presented by Hadley Haselmann, is an app to help backpackers find global destinations where they can learn rural skills, arts, practices and customs.
Music Match, presented by Ian Carter and Nicholas Henning, provides online video chats for at-home, private lessons from nonprofessional but well-vetted musicians.
Melange, presented by Nigel Smith and Samuel Evans, created a unity company to market clothing that reaches across cultural and racial divides.
Fries First, presented by Weston Stewart-Tennes, believes french fries have even more widespread potential.
Kind Cultures, presented by Graham Gilmore, used honey to make a better tasting fermented tea, kombucha.
Philip A. Glotzbach, Skidmore College president, told the students to keep being persistent.
“[This competition is] really one of the signature programs of the college,” said Glotzbach.
Professor of Economics, Roy J. Rotheim, coordinates the competition. Rotheim said this competition doesn’t appear on any transcript. He said students are passionate about their products.
“Taking creative thought and turn it into creative action,” said Rotheim.
Freirich had a encouraging message to the participating students. “I know how passionate all of you are about the business end. I know the time and effort you put into it and I know you absolutely want to win. But remember, no matter what — whether it’s first, second, third, fourth or any other place that you come in — this is about the experience for you. It’s about the learning,” said Freirich. “As I shared with you in the past, being an entrepreneur to me means one thing and that’s finding ways to make things happen. If you learn that throughout the process that will absolutely change your life forever.”