University of Montana Business Plan Challenge Returns Soon

Missoula, MT (KGVO-AM News) - The Annual University of Montana Business Plan Challenge will be held on Friday, April 28 at the Gallagher Business Building on the UM campus.

It provides a golden opportunity for budding entrepreneurs to pitch their plans to possible investors and shot at the $50,000 first prize.

The UM Business Plan Challenge is This Friday

KGVO News spoke to UM Director of Strategic Communications Dave Kuntz on Friday, who provided some background on the competition.

“The business plan challenge this will be its 34th year sponsored by the University of Montana College of Business,” began Kuntz. “It’s Friday, April 28, here on campus at the Gallagher business building. It's really been something that's been around for a long time and it elevates our students as they prepare to head out into the real world as tomorrow's business leaders. They’ll be entering into a competition with teams from all around the region in the state to see who has the best business plan and in years past, the winners of this event have gone on to really have some successful and notable businesses here in Missoula and across the region.”

Several Different Business Plans will be Presented to a Panel of Judges

Kuntz provided just a few examples of the business plans to be presented.

“There are some really impressive plans,” he said. “We have plans to talk about affordable childcare businesses. We have lots of information technology plans to help people as they have to evolve into the new use of technologies. We also have plans that have some interdisciplinary action to them that work through music and business and instructional videos and how to deploy them so people can access healthcare and other services.”

The Grand Prize is a $50,000 Investment in the Winning Business

Kuntz said the opportunities for the student presenters include a grand prize of a $50,000 investment.

“A lot of these plans aren't just academic activities, but they will end up evolving into businesses that we will know well about in the coming years ahead,” he said. “This is a big deal for our students at the university and there's a lot on the line. The winner of the competition will be provided $50,000 in prize money to help launch their business into reality and become the latest in a long list of businesses that originated with this annual competition.”

Kuntz said there are some very successful businesses here in Missoula that got their start at the annual University of Montana Business Plan Challenge.

“You might recognize some of the past winners who've gone on to launch successful businesses like Five on Black Brazilian Grill, The Market on Front, Geo Fly, and Big Sky Brewing,” he said. So if you do want to get a sneak peek at some of the successful businesses in western Montana here in the years ahead, remember that the doors open at 4:30 p.m. here on campus at the Gallagher Business Building and it's free and open to all.”

Click here for more details about the business plans in this year’s competition.