SUU Entrepreneurship Hosts Annual State Bank Business Challenge as part of One Utah Summit

Published: October 29, 2024 | Author: Mary Nelson | Read Time: 2 minutes

Tyler Stillman, Eric Schmutz, Mindy Benson, and Kristina Maine at the State Bank Business ChallengeThe Entrepreneurship Center at Southern Utah University’sDixie L. Leavitt School of Business was thrilled to host the State Bank Business Challenge as part of the One Utah Summit again this year. The summit is a premier event held bi-annually in which Utah’s top leaders and decision makers convene to discuss the state’s economic challenges in rural areas. The Business Challenge is designed to help identify and support potential high-earning small business startups in the community and among students. $50,000 dollars in cash prizes was available to winners of the challenge, along with several different titles and non-cash awards. 

State Bank of Southern Utah sponsored the competition by donating $50,000 to the competition. The State Bank Business Challenge provides young entrepreneurs a chance to pitch their businesses in a competition setting.

The competition was held in a pitch-style; participants were given 90 seconds in the first round to present their businesses and ideas. Participants with the highest judge-scoring moved onto the semi-final rounds and eventually, a final round in front of a panel of judges. Prizes were then awarded at the conclusion of the competition.

This year, the judges panel consisted of Eric Schmutz; CEOr for State Bank of Southern Utah, Entrepreneur in Residence for the office of governor Cox, Mike Mower,  philanthropist Brad Bonham, Head of Agile Delivery at Overstock.com, Kristin Andrus, Beaver County Commissioner Jeremy Smith, Tammy Pearson, and Editor in Chief & Co Founder at The Dispatch, Jonah Goldberg.

Six finalists won the following awards:

  • Spencer Quinn & Brandon Flory, Merch Makers: $15,000 grand prize, plus an additional $4000 in miscellaneous prizes, along with two mentoring sessions with Jeremy Smith and two mentoring sessions with Brad Bonham
  • Diana Emilia Gomez, Tiny’s Botana’s: $5,000 in Audience Choice Award; a $1,500 cash prize; a $1,000 MBC Scholarship to the University of Utah’s Masters of Business Creation Program; $1,500 in Beans and Benjamins in addition to three hours of accounting services with Derek Christiansen and Associates;, plus a Lovesac and three hours of marketing with AdventureYeti.
  • Brandon Davis, Interval AI: $5,000 in Lt. Governor's Choice Award;$1,000 in Love of the Grasshopper award, in addition to three “task tokens” from the AI Grasshopper.
  • Greg Aldred, Weed Blockers, LLC: $3,000 for Best Student Business; a $1,500 cash prize; and $1,000 for Love of the Grasshopper.
  • Ricky Valadez, Sound Sculpt: $1,500 for Loot & Law, in addition to three hours of service from Reusch and Reve; and $1,000 in miscellaneous prizes. 
  • Will Ducrest/ MASPBR, LLC, Push Pilot: a $1,500 cash prize; $3,000 for Making a Difference; and $1,000 in miscellaneous prizes.

The State Bank Business Challenge is a great opportunity for small business owners to network, build relationships, and have their voice heard. For more information on One Utah Summit, and to look for next year's State Bank Business Challenge, visit the One Utah Summit.

Tags: School of Business Leavitt Center

Contact Information:

Brooke Heath
435-586-5400
brookeheath1@suu.edu