Lake Erie sponsors Idea and Innovation Challenge

The Lake Erie College Center for Entrepreneurship sponsored its first annual Idea and Innovation Challenge earlier this year.

The competition was a way to recognize the 40 students who wrote business plans for their new venture-creation classes during the spring semester.

After each submission was carefully reviewed and judged for viability, thorough research and overall professionalism, eight finalists were chosen, and each was awarded $500. Three top competitors received an additional cash prize to be used toward the start-up cost of a business.

The first place winner proposed a business which will use horses to offer therapy services for sexual assault victims. Second place went to a student planning an equine venture aimed at providing leisure, fun and exercise for adult riders. Third place went to a student who proposed setting up a farmer’s market that would offer high quality fresh food at wholesale prices. This venture was actually launched and ran throughout the entire summer, meeting with success far beyond what was anticipated.

The judges will now serve as an advisory board for each of the eight student finalists as they put their passion to work.

Lake Erie officials say the bar has now been set, and plans are already being put in place to make next year’s competition bigger and more competitive.

Students at Lake Erie College are embracing the entrepreneurial spirit that circulates throughout campus, and one can be certain that next year’s competition will again highlight the innovation and academic dedication of talented students, officials say.