Enterprising students keep eyes on the prize

Correction
Due to a reporting error, the Nov. 10 article "Enterprising students keep eyes on the prize" states that the grand prize in the Carolina Challenge is $27,000. It should have stated that the total prize money is $27,000. The grand prize in each track of the challenge is about $7,000.

Senior Adam Braxton's plan to prove that men actually like to shop is cloaked in secrecy.

But revealing it might win him more than $27,000.

Braxton, a classical archaeology major, is joining up with two other UNC students to compete in the Carolina Challenge, an entrepreneurial competition for teams of students to create a business plan for a product or a company.

The winners, who will receive a prize of more than $27,000, will be announced April 16 during the annual Carolina Entrepreneurship celebration.

Braxton aims to win by demonstrating that companies can successfully market their products to men.

"There are several profiles that men fall into, and one is that men don't like to shop," he said. "There's a crisis in the way men are perceived."

For Braxton, the challenge will be a learning experience and an addition to the portfolio he will need when applying to graduate school at N.C. State University.

"My project has taken off well," Braxton said. "It shows that I have a business and managerial sense as well as design and aesthetic skills. I can prove that I can access what the public needs and wants."

Jeff Reid, executive director of UNC's Center for Entrepreneurial Studies, said he is enthusiastic about the start of the program.

"The student interest has been phenomenal," he said. "We've put together a great marketing blitz."

Junior business major Bart Welch, student chairperson of the Carolina Challenge, said student participation has been more than he expected.

"We have about 400 people on our online listserv, which was surprising because we expected it to be a hard push," Welch said.

Since September, neurobiology graduate student Lauren Anderson has been working with administrators at UNC and Johns Hopkins University on a housing development and community program as her business project for the challenge.

Because she is in competition, she can't reveal much, but her project involves community organizations like the Boys and Girls Clubs and looks at urban renewal.

"I'm not working closely with one particular company because I'm trying to keep the idea open," she said. "I don't want it to be specific to Chapel Hill."

Junior business major Justin Wade also is vying for the prize, using his experience in the computer services industry to back his team's efforts.

"The Carolina Challenge is a great opportunity to learn some things we wouldn't catch on our own," he said.

Along with three other students, Wade is working on a computer software and diagnostics repair company he started a few years ago.

The group plans to launch the company sometime during the school year and to continue working on it during the summer, regardless of the competition's outcome, Wade said.

The possibility of winning more than $27,000 does act as an incentive for the group - Wade said it would be a tremendous help in launching the company.

Student participants in the Carolina Challenge are not only required to write their plan but also must interact with their target market - an experience meant to provide valuable skills for prospective business majors.

But Welch stressed that the Challenge is not only for business majors.

"The Carolina Challenge is important for all students," he said. "Entrepreneurship makes the world go 'round."

Braxton agreed that the Carolina Challenge is not only a beneficial experience for business majors.

"There's no reason not to do the Carolina Challenge," he said. "There's so much growth potential for everyone."

Students' enthusiasm for the project has survived the beginning weeks and as their projects take off, their determination is increasing.

Anderson plans to complete her project in spite of any obstacles, she said. "Whether I win or whether I get the money, I will do this."

Contact the Features Editor at features@unc.edu.