Until about four years ago, it was assumed that West Virginia teens would follow a very structured path from high school to college and then, possibly, open his or her own business.  What changed in 2012?  Opportunity.  That year, BrickStreet Center for Innovation and Entrepreneurship, headed by local resident Steve Cutright, started the Statewide High School Business Plan Competition, setting the stage for visionaries around the state to pursue their dreams of business ownership.

 

Now in its fourth year, the competition has proven to be a perfect partnership with West Virginia University and West Virginia Department of Education. Countless students from all parts of the Mountain State have entered the competition in hopes of winning the $10,000 prize and put their business plan into motion. 

 

All high school juniors and seniors are encouraged to enter the competition, which is designed to inspire creative enterprises that can help boost the West Virginia economy and develop entrepreneurial skills among young people. 

After writing a business plan on the available template, students analyze potential internal and external strengths and weaknesses and identify how their proposed business would meet the wants and needs of the target market.  Students can work individually or in teams of up to three and the business idea can be either a product or a service-related enterprise.

 

Judges from each region of the state will evaluate submissions and narrow down the top 10 finalists from each RESA region, who will advance to the next round.  During the second round, students are paired with professionals who will act as mentors and advise them on how to tweak the business plan to make the best impression.  Students will travel to WVU in the spring, where the $10,000 scholarship will be awarded to the winner. 

 

All entries must be submitted by noon on November 18, 2016.  Finalists will be announced December 9, via email notification.  The collaborative nature of the contest ensures high school students utilize available resources that will increase their chances of actual business ownership.  Additional information can be found at www.wvde.state.wv.us/hsbpc/