UTRGV’s big idea

The Center for Innovation and Commercialization will host the first information session for the 2024 UTRGV Business Plan Competition at 2 p.m. today.

The competition is open to full-time students and will be judged by experienced entrepreneurs and business professionals, according to the event listing on V Link.

To attend today’s informational Zoom session, visit V Link.

Last year, finance and economics senior Jennifer Olivos placed first in the general category at the national level for the competition with her submission, “OpalNopal Pinturas,” a nopal-based paint that does not contain chemicals.

The competition was made possible by Blackstone LaunchPad, Associate Professor Russell Adams and the Center for Innovation and Commercialization.

“It is an annual competition that we have available to students and community members,” said Natalia de la Garza, Center for Innovation and Commercialization administrative coordinator.

Participants have to apply with an idea, but “it doesn’t have to be in one specific industry,” De la Garza said.

Last year, 70 applicants applied with ideas from various fields, including medicine, science, industry and financial technology.

Students presented their projects in a pitch deck presentation the CIC provides.

“It’s about eight slides and it’s the template that we offer them,” De la Garza said.

The participants also have a five-minute pitch and a three-minute Q&A, according to the finalist information packet.

“They can talk about it the way they would like,” De la Garza said. “They bring certain examples, depending on what they’re doing, and incorporate it in their presentation.”

The Rider asked how the winners were selected for the competition.

“We have a rubric,” De la Garza replied. “We have reviewers view these applications, and they score them.”

Olivos’ original idea started from a high school project. 

“My family runs a construction company down in Mexico,” she said. “I always have the smell of fresh paint.”

Olivos said she did research and found out “[paint] has a lot of chemicals [in] it, so it is bad for the health and the environment.”

She decided to use her project in the competition.

“The investigation search in high school took three months,” Olivos said. “But here, it will only take, like, I don’t know, one month to gather all the things.” 

The Rider asked the student how the competition was beneficial for her.

“You have a coach that guides you during all the process,” Olivos replied. “And it is so beneficial because, I mean, you’re not only learning about school, but also from real life.

“Apply to the programs and competitions. I mean, you never know if you’re going to win or what else you can get from the mentors or the people that work at the CIC.”

De la Garza encourages everyone to participate in the competition, programs and workshops, “because we are here as a resource.”

The CIC has the vision to help local entrepreneurs, “whether you’re a student, whether you’re a community member, whether you’re a staff or faculty,” De la Garza said.