The University of Portland’s version of “Shark Tank” is now inviting students to create and pitch their best entrepreneurial ideas to a panel of judges for an opportunity to win cash prizes. On March 9, organizers of the Pilot Venture Challenge will be hosting a virtual information session for students interested in competing.
Registration is open for the 2021 Pilot Venture Challenge, which will be held virtually on April 17. Students who may be interested are encouraged to email the Franz Center to receive a Zoom invite.
More details about the information meeting and the competition can be found in the Pilot Venture Challenge promo video.
Students may enter into the competition individually or in groups of up to six members. All graduate and undergraduate students are welcome to register for the challenge.
Continuing the theme of the competition, students will invent and organize ventures that benefit people and communities. Ventures of recent years range from apps that teach people how to play the accordion by lighting up certain keys to a pill box that regulates how much of an addictive medication is able to be released at once. UP has yet to see what this year’s competition will produce.
The winner of the invention category last year was Ryan Jarvis. Jarvis invented the Dose One Pill+, a device that will dispense the right amount of a prescription as directed by physician. This is the prototype of the Dose One Pill+.
Photo courtesy of Ryan Jarvis.
The Pilot Venture Challenge is hosted by the Franz Center for Leadership, Entrepreneurship, and Innovation. Students will have an opportunity to receive constructive feedback from a panel of business and entrepreneurial professionals on their ventures.
“I think it really builds confidence, whether you go any further with your idea or not, you know, presenting in front of people and putting yourself out there, it gets you out of your comfort zone,” Entrepreneurship Director Kay Molkentin said.
This is the second year the competition will be held virtually. Students can actually benefit from knowing how to give these presentations on virtual platforms since it is likely that some businesses may continue operating virtually, Molkentin said.
The competition consists of two categories: invention and for-profit/social. The invention category is where students present mockups or prototypes of inventions. Students participating in this category will also be considered to represent UP at InventOR, a state-wide prototyping competition.
The for-profit/social category encompasses ventures that use business principles as opposed to inventions to promote a positive social impact. Those competing in the invention category can also compete in the for-profit/social category. Winners from both categories are eligible for cash prizes.
Individuals or teams also have the opportunity to have a mentor throughout the process for educational purposes. Mentors are able to provide advice throughout the development of the venture but cannot be a member of the team.
If participants need help finding a mentor, the Franz Center can provide help connecting a mentor to a group. These mentors are commonly UP alumni that have experience in various fields.
“What I try to do is I look at who I have on my list as mentors or who are past E-Scholar alumni and what fields they are working in,” Molkentin said. “That’s how I try to match people up. I’m looking for people who are working in that industry or in that area.”
The Pilot Venture Challenge invention competition will take place on April 17 and the for-profit/social competition on April 24.
Students across campus are encouraged to register for the event to showcase their talents and skills and take their ideas to the next level.
Laura Heffernan is a reporter for The Beacon. She can be reached at hefferna23@up.edu.
