April 24, 2003
Innovative Ironing Board Idea Wins USM Business Plan Competition
Two USM students who plan to manufacture and market a clever
ironing board product now have $10,000 in cash and $15,000
in business advice to do it with.
Jessica Brearly, a business administration major, and Jessica
Nolette, a media studies major, are the 2003 winners of the
Student Business Plan Competition sponsored by the University
of Southern Maine School of Business Center for Entrepreneurship
and Small Business.
The two students, doing business as The Clothes Line, were
among 12 teams that initially entered the yearlong competition.
A panel of independent judges chose The Clothes Line plan
after final presentations by the top teams.
The winning team's centerpiece product, called the UB-POP
for "under-the-bed pop-up" ironing board, is intended to be
the first in a line of innovative laundering products to make
clothing care less burdensome.
"I feel very fortunate to have this opportunity ahead of
me," Jessica Brearly said. "I don't yet know what it takes
to be a successful entrepreneur or to run a successful business,
but I do know that I will be relentless in my endeavors until
I find out and succeed."
The pair expect to launch their business later this year.
The competition was started last year to promote entrepreneurial
ideas at USM. Student teams, both undergraduate and graduate,
develop, write and present business plans, with mentoring
assistance available from local business people. Area businesses
and individuals also contribute cash and consulting services.
After its second successful year, the School of Business
has decided to host the competition for a third time, and
planning is under way.
School of Business Dean Jack Trifts said, "The business plan
competition is one of the School of Business' signature events.
It highlights our commitment to entrepreneurship while partnering
with the business community to strengthen the economy of southern
Maine." As part of its mission, USM's School of Business seeks
to improve teaching and programs that enable students to apply
the most advanced theories to real business challenges.
This year, competition sponsors include Bernstein, Shur,
Sawyer, and Nelson; Berry, Dunn, McNeil, and Parker; Joe Boulos;
Coastal Enterprises, Inc.; Critical Insights; Finance Authority
of Maine; Flory Investments, Inc.; Chris Harte; Integra Strategies;
Maine and Company; Maine Small Business Development Centers;
Maine Small Enterprise Growth Fund; Maine Technology Institute;
Charles Moore; R.M. Davis, Inc.; Rockwell Capital Partners;
David Shaw; Ralph Struzziero; Swardlick Marketing Group; Tech
Ventures; and USM Corporate Partners.
More information on the USM Student Business Plan Competition
is available from the competition manager, Richard Bilodeau, at 207-772-5000, ext. 337.
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