{"id":85212,"date":"2025-03-03T09:51:44","date_gmt":"2025-03-03T15:51:44","guid":{"rendered":"https:\/\/tigermedianet.com\/?p=85212"},"modified":"2025-03-03T09:51:46","modified_gmt":"2025-03-03T15:51:46","slug":"faulkner-entrepreneurship-challenge-offers-thousands-of-dollars-in-prizes","status":"publish","type":"post","link":"http:\/\/tigermedianet.com\/?p=85212","title":{"rendered":"Faulkner Entrepreneurship Challenge offers thousands of dollars in prizes"},"content":{"rendered":"\n

By ADIA REYNOLDS<\/strong><\/p>\n\n\n\n

Tiger Media Network<\/em><\/p>\n\n\n\n

The 2025 Faulkner Entrepreneurship Challenge offers a total of $10,000 in prizes for the most innovative business model proposal, including $6,000 for first place. FHSU\u2019s official website advertises the contest as an opportunity to \u201csubmit your written plan and compete for a place in the Faulkner Challenge Finals where you’ll present your business to a panel of judges.\u201d <\/p>\n\n\n\n

The Faulkner Entrepreneurship Challenge is run by the Robbins College of Business and Entrepreneurship as an attempt to inspire entrepreneurship in Western Kansas. This year\u2019s contest will mark a decade of the contest\u2019s existence and its efforts to promote innovation in young entrepreneurs. Henry Schwaller, a senior lecturer at the Department of Management for FHSU, provided insight on the winner selection process as well as the history of the challenge. <\/p>\n\n\n\n

\u201cA winning business plan is bold, innovative, and tough to replicate,\u201d Schwaller said. \u201cThe best ideas fill a real gap in the market, meet a specific customer need, and make a meaningful impact on both the founder and the community.\u201d<\/p>\n\n\n\n

Schwaller states that each year, the Faulkner Challenge attracts 15 to 25 business plans.<\/p>\n\n\n\n

\u201cThese plans come from individuals and teams eager to bring their entrepreneurial visions to life,\u201d he said. <\/p>\n\n\n\n

Lincoln Myers is an FHSU student who has entered the Faulkner Challenge in previous years as well as lived in Hansen Hall\u2014a dormitory building devoted to those with the hopes of becoming future entrepreneurs themselves. <\/p>\n\n\n\n

\u201cOne of the great things about the Faulkner Challenge is that it is an experience for any major,\u201d Myers said. \u201cIt is recommended that students team up with others to make up for their lack of knowledge. Due to my area of expertise, I handle the marketing and presentation aspects.\u201d<\/p>\n\n\n\n

Myers has had experiences with similar competitions. <\/p>\n\n\n\n

\u201cMy first entrepreneurship competition was in the 8th grade, and since then, I have been very passionate about competing in these competitions,\u201d he said. \u201cI also own a business and value what I can learn through these competitions to become a more effective and knowledgeable entrepreneur.\u201d<\/p>\n\n\n\n

Not only do participants have to submit a comprehensive proposal, but finalists will provide an oral presentation on April 5th. Entrants are accepted until Saturday and can be submitted to faulknerchallenge@fhsu.edu<\/a>. <\/p>\n\n\n\n

The official challenge announcement includes the rubric by which proposals will be judged. The Challenge analyzes nine major components of the proposal:<\/p>\n\n\n\n