Students vie for seed money in the Regions Foundation Business Idea Competition at the IDEA Bank – Troy Today

Ten students pitched business ideas on Wednesday morning after completing an eight-week course, and three students were able to earn seed money to kickstart their business. Vamsi Jupudi, Kameryn Mitchell and Jamarion Willie Hughes each won seed money.

The event, sponsored by the Regions Foundation, was held at the IDEA Bank and students pitched ideas to a panel of judges. It was just part of the “TROY Starters: Idea Accelerators powered by Regions Foundation” program, which encompasses three different accelerator programs hosted by the IDEA Bank.

“The main goal of the event is to help students learn how to put together a business plan and pitch and give them a safe space to experiment while growing their confidence,” said Lynne George, the director of the IDEA Bank. “I’ve seen them go from having broad ideas to a refined business plan.

“Anyone can come up with an idea, the dedication to the refinement of that idea and the commitment to continuous learning sets apart successful entrepreneurs from the rest.”

Jupudi won the grand prize of $2,000 after pitching BrightLyf, an idea for an AI-powered mental health platform.

“This win not only proves that our work is important but also encourages us to improve ourselves even more,” Jupudi said. “We’re planning to use the seed money to officially register the company and launch a pilot program here at Troy University.

“Before the program, we just had an idea but didn’t know how to turn it into a real business. The program taught us how to raise funds and make better business decisions. Most importantly, it helped us connect with key people at the university who will be valuable partners as we move forward.”

Students were able to learn more about the details of starting a business and identifying a target market.

“I learned a lot about the marketing mix and how to determine my market’s need for my services,” said Savannah Burg, a junior global management major from Livingston. “This experience has helped me learn the necessary steps to starting my business.”

Although only three students won seed money, George said that the skills learned by just giving a pitch will help students whatever they do.

“Pitching is transferable no matter what you do,” George said. “Even if these students don’t go on to start a business, they stood up in front of a panel of judges and a group of people, which is no easy task. Practicing public speaking leads to the development of many transferrable skills like enhanced confidence, professionalism, organization, networking. You can use those skills no matter what you do.”

The Regions Foundation funded the whole program, and Market Executive John Brown announced that another event will be held in spring 2025, offering approximately $10,000 in seed money. He said the event will cap off the TROY Starters: Idea Accelerators program.