UVI Supports Student Entrepreneurship

Second 13D Student Entrepreneurship Competition
Begins; Another $60,000 in Prize Money is at Stake

Patricia Rogers, winner of the first 13D
Student Entrepreneurship Competition
at UVI, demonstrates how to make a
winning business plan presentation
to interested UVI students.

Patricia Rogers won $30,000 in seed money in the first 13D Student Entrepreneurship Competition at UVI. On Thursday, Oct. 18, she gave a spirited version of her winning business plan presentation to other would-be student entrepreneurs. 

Students gathered in four rooms on UVI’s St. Thomas and St. Croix campuses for the videoconferenced session that served as the kickoff for the competition’s second year.

The program is designed to spur the entrepreneurial spirit among students, providing guidance from seasoned entrepreneurs as well as some initial start-up funding for teams judged to have come up with the most promising business plans. Students turned out to learn what it takes to enter and succeed in the competition.

For the second year, the competition features $60,000 in prizes – $30,000 for first place, $20,000 for second place and $10,000 for third place. Program organizer Dr. Glenn Metts, a professor in UVI’s School of Business, provided attendees with an outline of the competition, what would be expected from them, and the support they could expect to receive in developing and then presenting business plans to the competition’s judges.

The 2011-12 competition drew 72 students in sixteen teams. Though final numbers are not yet in, based Thursday’s turnout, Dr. Metts said he expected as many or more participants to sign up this year. Eight teams and 14 students made it to the final round of the first competition, held in May of this year. Rodgers’ business plan for a Virgin Fresh Egg Farm is in active development.

Funding for the competition is provided by a $5 million gift to UVI from investment strategist and entrepreneur Kiril Sokoloff, the founder of 13D Research, which is based on St. Croix. Details on year two of the competition are available from UVI business professor Dr. Glenn Metts at (340) 693-1303 or gmetts@uvi.edu. Additional information is featured on the UVI website – www.uvi.edu – and from this direct link. 

Would-be UVI student entrepreneurs and supporters, gathered in the main conference
room in UVI’s Administration and Conference Center on the St. Thomas campus, react
to the presentation of 13D Student Entrepreneurship Competition winner Patricia Rodgers.