The WSSU MBA team of Tracy Askew, Erin Hammond, Tiyi Moori, Jonathan Sadler, and Crystal Wilson competed April 17-18 at the annual business plan competition organized by the Opportunity Fund Corporation (OFC) in Atlanta, Georgia. This annual event brings together teams from HBCU institutions to defend their business plans in front of a panel of expert judges and investing groups.
From left to right on the top row are: Tracy Askew, Tiyi Moori, Crystal Wilson, Notis Pagiavlas. On the bottom row are: Erin Hammond, Kathy Stitts, and Jonathan Sadler.
The project titled BioPURE reflects a significant green initiative that transforms a multi-dimensional problem of waste, water shortages, and air pollution into a viable business venture. Its vision states “to become a profitable production and distribution enterprise of processing and converting used cooking oil to biodiesel fuel and purified water, guided by social awareness and environmentally conscientious principles.” The WSSU team, co-advised by Drs. Notis Pagiavlas and Suresh Gopalan earned 3rd place honors and a $3,000 monetary award.
Of the 27 eligible teams, 22 presented their plans on Friday, and 6 finalists competed again on Saturday. The WSSU group surpassed teams with years of experience in this event. One of the most critical benefits to the WSSU team included meeting great students and faculty from other institutions, interacting with powerful corporate sponsors, and most amazingly, listening to the wise words of Magic Johnson, the keynote speaker of the event.
Dr. Kathy Stitts, Acting Dean for the School of Business and Economics attended the event in Atlanta. “I am extremely proud of this outstanding group of students. They had a synergy among them which motivated them to work tirelessly to deliver a business plan which was timely, professional, and appropriate for today’s business climate.”
Based on the observations of co-advisor Dr. Pagiavlas, “one of the most critical talents in business is the ability to handle challenging questions and unforeseen problems on the fly. As a case in point, during the Friday round, a microphone from the competitors next door malfunctioned creating random noises and loud bursts. The team kept its cool and continued its presentation with incredible poise and concentration, a fact that was pointed out in the written evaluations of judges and in conversations after the event.” Pagiavlas continues, “another major benefit to the students was the realization that by hard work and team spirit, the task of presenting one’s ideas in front of a panel of critics is not as insurmountable and threatening as one might think. The critical confidence to undertake a similar future challenge comes only from the actual experience of performing under pressure.”
“When I applied to WSSU to seek my MBA, I had every expectation of being challenged and presented with opportunities to develop to my full potential,” said team member Tiyi Moori. ”The OFC Venture Challenge helped fulfill this expectation and I am truly grateful for the opportunity to compete and represent the WSSU School of Business and Economics.”
