Seven students win
11 awards in competition
Seven University of Mississippi students have been selected as winners in the 2011 Gillespie Business Plan competition.
Ryan Andrews (business) of Trabuco Canyon, Calif., won first place and $5,000 for Best Business Plan. His "EOS" plan is for a biotechnology company focusing on the research and development of screening tools for the diagnosis of cancer and drugs for its treatment.
"Our company applies state-of-the-art technologies and the latest discoveries from the Human Genome Project to formulate new strategies for earlier and more specific detection of cancer, as well as new tactics to more effectively treat and manage cancer," Andrews said. "We are honored to be the winners of the 2011 Gillespie Business Plan Competition."
Lauren Tullos (MBA candidate) of Shreveport, La., won first place and $3,500 for Best Android Smart Phone Application. Her "Wear This" concept offers customers the convenience of viewing and enhancing their wardrobe at the tap of a button.
"Our goal is to help maximize the use of our consumers' current wardrobes as well as help them continuously update their closets with the most fashionable items to wear," said Tullos, who had assistance from Dustin Bass (MBA candidate) of Oxford. "With its user-friendly interface, personalized content and instant access to the consumer's entire wardrobe, users will no longer have to spend hours picking out the perfect outfit in front of the mirror."
Second-place winners, whose prizes range from $1,000 to $2,500, were Jesse Phillips (MBA candidate) of Germantown, Tenn., and Raymond Gray (liberal arts) of Oxford. Winners of $500 third-place awards were Tyler Weir (business) of Jackson and Peter Salu (engineering) of Walls.
Winners of $500 awards in bonus categories are Angela Quadrani (applied sciences) of Southaven (Best Women's Team), Ryan Andrews (Best Interdisciplinary Team), Tyler Weir (Best Sustainable or Green Idea) and Jesse Phillips (Best Social Entrepreneurship Idea).
The awards were presented at the annual Farrington Distinguished Entrepreneur Award Reception, sponsored by Mr. and Mrs. Jan and Lawrence Farrington.
"The application of what students learn in classes is very important to their success, and thus the business plan competition is a wonderful experience to help our students," said Ken Cyree, dean of the business school. "Since the competition is open to all Ole Miss students, this event showcases the work that the entire Ole Miss community is doing, and how we are helping to move Mississippi forward. We are grateful for the support of the Gillespie Foundation, Self Foundation, Cellular South and the business community, in addition to the opportunity this provides for budding entrepreneurs."
The students' success enhances UM's reputation as a business school with supporters who judge the competition and interact with the students, Cyree said. "We are proud of the engagement of alumni and friends in the competition, and the feedback that they provide our students."
The annual Gillespie Business Plan Competition is organized by UM's School of Business Administration and sponsored by the Gillespie family, Self Foundation and Cellular South and the Mississippi Small Business Development Center (MSBDC). The competition fosters entrepreneurship by encouraging students to develop their business ideas into successful startups.
Judging was done by a panel of entrepreneurs, business executives, faculty members, venture capitalists, investors and any others deemed fit by the organizers. Criteria upon which the judges base their decisions include potential profitability, market potential, innovativeness, feasibility, competitive advantage, financial sustainability and overall strength of the business model.
