UTRGV department encourages students to share their business dreams
The Center for Innovation and Commercialization is hosting the Big Idea Competition this semester for any student with a vision for their future business.
Stephanie Mendez, manager of the CIC, said the Big Idea is an annual competition hosted every fall semester.
“The purpose of the competition is really to get students excited about entrepreneurship,” Mendez said.
She said it can be seen as a smaller version of the TV show “Shark Tank” for UTRGV students.
“For those students who have really good ideas, but sometimes … don’t actually set up a time to work on their ideas, this gives them the structure and the resources to actually take action on their idea,” Mendez said.
She said the only requirement to participate in the competition, other than being a student, is to have an idea.
“It doesn’t have to be anything already developed, or [students] don’t have to have a plan or anything like that,” Mendez said.
The deadline to apply for the competition is noon Oct. 18 and finalists will be notified at 5 p.m. Nov. 4. Students can apply through the UTRGV Startup Tree website.
A finalist information session and mentor meet and greet will take place from 2 to 3:30 p.m. Nov. 8 at the UTRGV Center for Innovation and Commercialization.
The competition finale will take place from noon to 5 p.m. Nov. 22 at the center, which is located at 307 E. Railroad St. in Weslaco.
“The Big Idea Competition is an incredible way to spark creativity and innovation in our students,” CIC Director Laurie Simmons wrote in a Sept. 20 email sent to The Rider. “It focuses on problem-solving, entrepreneurship, and teamwork, giving participants the opportunity to showcase their ideas to industry professionals, investors, and other key players.”
Mendez said first place is $5,000; second place, $3,500; and third place, $2,000. She said this is the largest amount of award money ever given.
“So then those students, of course, win the money, and they get to use it for starting their business,” she said.
Mendez said there is a special category called the Health and Life Science track that awards $3,000.
“So technically, let’s say you win first place and also that category,” she said. “I mean, somebody could actually take home up to $8K.”
Mendez said the competition has pushed students to continue their ideas and academic careers.
“What we have seen is, like, there’s some winners and past participants from our past Idea competitions that they’ve continued on to grad school,” she said. “Some students have actually, you know, started prototyping, some already manufacturing.”
Osvaldo Maranon, a criminal justice freshman, said it is great to see the university give support to students.
“Here in the [Rio Grande] Valley, there’s a lot of people that want to start their own business or, like, have an idea,” Maranon said. “It helps the economy and, well, I myself had a little business going on and, like, seeing the support, that would have been good.”
Mendez said she would like to see at least 5% of the university’s students join the competition.
“Imagine if we had all those submissions and then having these students actually start those businesses here in the RGV, like, that’d be incredible,” she said.
Mendez encourages every student with an idea to join.
“I think it’s worse to have regret than fear,” she said.
