Dive into the “Shark Tank” if you dare … for a chance to win cash prizes, promotes the Entrepreneurship Club (E-Club) flyers posted around Truckee Meadows Community College.
“I’m looking forward to learning how to pitch my idea within a certain time limit and I’m very excited about the competition part because I’m very competitive and I’d like to win it,” said TMCC entrepreneurship student Shane Morris.
No business plan is needed for the Shark Tank Competition, simply a brief pitch and confident presentation. The contest is open to students in all disciplines. Notes are acceptable for the first round, and visual aids or a PowerPoint slide is suggested for the final round.
An information session is planned on Tuesday, Oct. 18, along with free pizza for those attending. Both Shark Tank and the Business Plan Competition will be covered in the free session in Red Mountain Building, room 255.
Shark Tank Round One: Tuesday, Oct. 25, 6 p.m., Red Mountain Building, room 255
Shark Tank Final Round: Wednesday, Nov. 2, 6 p.m., place TBA
Four local business professionals will be judging the final round. Cash prizes will be awarded to the top three finishers.
- First prize: $300
- Second prize: $150
- Third prize: $75
Morris is also planning on entering the TMCC Business Plan Competition that kicks off in November.
Business Plan Competition 2016-2017
“The different parts of the Business Plan Competition that take place—the first round is your actual written business plan itself and six people (or teams) get selected and go to the next round and they have a presentation to do,” he said. “So I’m looking forward to getting professional criticism on things I should work on.”
Business Plans are written documents containing sections that may include a summary overview, description of the company's organization, analysis of the market and competition, sales strategy, production or operating requirements, a financial plan and any risks involved in starting the business.
“The TMCC Business Plan Competition is also open to students of all majors and TMCC High School Students,” said Jean Lampson, Administrative Assistant, Business Division.
Letter of Intent due: Thursday, Nov. 10 by 5 p.m., (online form)
Business Plans due: Friday, Dec. 23 by 5 p.m., upload document
Presentations and awards: Feb. 10, 2017
The Letter of Intent is an online form to enter the name of the proposed company, faculty advisor, an outside mentor and his or her field, individual or team members’ information, areas of interest and a brief product or service summary.
Free mentoring and advising is offered for individuals and teams entering the competition. Contest rules and sample business plans are also available to view online, Lampson added.
A statewide Governor’s Cup and Tri-State Competition follows TMCC’s contest. Students at any Nevada college or university can participate toward combined prizes of more than $400,000.
Morris is working toward his associate degree at TMCC with an emphasis in entrepreneurship and thinks that the Shark Tank and TMCC Business Plan Competition will help bring a practical and hands-on aspect to his studies.
“I plan to transfer to UNR and major in general business and minor in entrepreneurship,” he said. “Basically, these two competitions are what I need to do if I want to pursue entrepreneurship or become an entrepreneur and own a small business. So everything I learn from that I can use in the future.”
For more information about the Shark Tank, Business Plan Competition or studying business at TMCC, contact the Business Division at 775-673-7132.