12 teams of college students have advanced to the final round of the 2022 annual Arkansas Governor’s Cup Collegiate Business Plan Competition, presented by Arkansas Capital Corporation.
Six of the teams, three in the High-Growth / Technology Division and three in the Small Business Division, will be announced as the first, second, and third place winners at the 22nd annual Governor’s Cup Awards Luncheon on Thursday, March 31, at 11:30 a.m. at the Embassy Suites Pinnacle Ballroom in Rogers. The winners will share in a $100,000 cash prize pool, contributed for the fifth straight year by Dhu Thompson, former owner and chairman of Delta Plastics and Revolution Bag in Little Rock.
The six finalists for each division are:
For the “Winrock Automotive Small Business Division”:
- A.R. Lawn; Arkansas State University, Jonesboro
- Ascend; John Brown University, Siloam Springs
- Bento; University of Arkansas, Fayetteville
- Kopi Koffee Company; University of Arkansas, Fayetteville
- Limitless Fitness; Central Baptist College, Conway; Ouachita Baptist University, Arkadelphia
- Orange Otter Toys; University of Arkansas, Fayetteville
For the “High-Growth / Technology Division”:
- CiphrX Biotechnologies; University of Arkansas, Fayetteville
- GammaVet; University of Arkansas, Fayetteville
- Horizon Health Solutions; University of Arkansas, Fayetteville
- Shock; University of Arkansas, Fayetteville
- Suelo; University of Arkansas, Fayetteville
- VEZA Solutions; John Brown University, Fayetteville
One representative from each of the teams will take the stage at the luncheon to make a 90-second pitch on their team’s business idea.
For the first time ever, Arkansas Capital will be hosting the Governor’s Cup Awards Luncheon in Northwest Arkansas. Sam Walls III, CEO of Arkansas Capital, said “Northwest Arkansas has done an amazing job developing their entrepreneurial ecosystem and we are excited to showcase our competition finalists in this dynamic environment.”
The luncheon will be emceed for the seventh year by Mike and Anne Preston. They will be joined by Thompson and representatives of other major sponsors, including the Walton Family Foundation, First Security Bank, Innovate Arkansas and Winrock Automotive.
The $100,000 cash prize pool includes $25,000 to the winner of the High-Growth / Technology Division. The second place team will win $15,000 and the third place team will win $10,000.
The first place winner of the Small Business Division wins $15,000. The second place team will be awarded $10,000 and the third place winner will be awarded $5,000.
The division winners of the elevator pitches will each receive $2,000. Faculty advisors for the finalist teams will each receive a $2,500 cash award.
Arkansas Capital Corporation has managed the Governor’s Cup since the first competition in 2001. Nearly 3,100 Arkansas college students have been impacted, submitting 949 business ideas. For 2022, 31 teams of 157 students from ten Arkansas universities competed, the highest number of students since 2015.
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