By TRYSTAN KNAPP
Fort Hays State University’s Center for Entrepreneurship will be hosting its third annual Faulkner Challenge on March 30.
Entry to compete in the Faulkner Challenge is free to any FHSU student who has a business idea to share. Students who decide to join the challenge are asked to create a business plan from scratch and submit their entries by March 20. Finalists chosen to compete in the challenge will be notified March 22.
“This is meant not only to be a fun event for all involved, but a contribution to economic development in northwest Kansas and a boost for those early stage entrepreneurs,” said David Snow, director of entrepreneurship at FHSU.
Because of the generosity from FHSU alum Kevin Faulkner, $10,000 in total cash awards will be presented to the top performers of the challenge. The first-place winner will receive $6,000, second-place receiving $3,000, and third-place receiving $1,000.
Eight finalists will be selected to compete in the competition, and each are allowed 10 minutes for presentations. The event will begin at 9 a.m. in McCartney Hall on the Fort Hays State campus. After the presentations, a luncheon will take place for all in attendance and will lead into the awards ceremony.
“Ever since I was a resident in Hansen Hall, I’ve been fascinated with learning the art of creating a business,” said Hayden Hutchison, president of the Collegiate Entrepreneurs Club.
After winning the first Faulkner Challenge in 2017 with his team members Aaron Kreutzer and Adam Schibi, Hutchison plans to participate in the event again this year.
Hutchison also gives some advice to those students competing for the first time.
“My advice to new competitors is to contact Dr. David Snow about your ideas and business plan questions,” he said. “His job is to help you. Dr. Snow is a powerful resource, and working with him may determine whether you place or not. My last piece of advice is to challenge yourself. The process of furthering a project into a concept then into a business plan and presenting that for $6,000 will transform your life.”
For more information on the Faulkner Challenge and how to get started on a business plan, click here.
For free tickets to watch the event, click here.
For more information about the FHSU Center for Entrepreneurship, click here.