Wednesday: Record No. Students Presenting at NYS High School Biz Model Competition

FOR IMMEDIATE RELEASE
May 20, 2019

ALBANY, NEW YORK – A record number of students will be participating in the eighth annual New York State High School Business Model Competition this Wednesday at Siena College. Competing for $1,500 in cash prizes and $80,000 in scholarships will be 70 students on 24 teams from 11 schools.

“The High School Business Model Competition is an opportunity for students to bring forward new ideas and concepts. The Capital Region has a unique tradition of innovation and commercialization, and events like this enable us to develop the next generation of leaders here in the region,” said Andrew Kennedy, the president and CEO of CEG, which has presented the event for the last four years.

Many of the student business models will seek to address problems prevailing in current events. Examples include:

Poverty: A portable pop up shelter, in the form of a backpack, to protect the homeless from the environment (ShelPac, Shaker High School).

Disease Control: Permanent and portable solution preventing mosquito-borne diseases by repelling mosquitoes using AI technology to emit specialized frequencies (Mpill, Guilderland High School).

Ethnic Awareness: Raising awareness of colorism with the hope of extinguishing it through promoting self-esteem and self-love for ethnically diverse students of dark skin tone (Students Pursuing Success – The Melanin’s Poppin, Kingston High School).

This competition provides an opportunity for teams of high school students to win prizes and exchange ideas in an intellectually vibrant environment. The goal of the competition is to provide students with the opportunity to improve their business model, entrepreneurial and communication skills through virtual coaching and judging sessions in preparation for future opportunities. The event is sponsored by Pioneer Bank, Innovate 518, Troy Web Consulting and Stewart’s Shops.

“The NYS High School Business Model Competition is an outstanding opportunity for high school students. Students who participate gain real world knowledge and make valuable connections for their future,” said Eric Phillips, supervisor, Career and Technical Education at North Colonie Schools.

Prior to the competition, each team receives business model mentoring from one of nine local entrepreneurs. Sixteen local business leaders will judge the presentations, with the finalist judges including Albany Business Review Market President and Publisher Cindy Applebaum, Eastern New York Angels Co-founder Richard Frederick and Phillips Lytle Partner Richard Honen. There is a $1,000 award for first prize, $300 for second and $200 for third. Rising juniors from the first, second and third place teams are eligible to win one $40,000 scholarship from Rensselaer Polytechnic Institute or one of two $20,000 scholarships from Siena.

“Our focus on building sustainable systems for our region starts with our young talent. Our activities and involvement at the high school level is a great way to embed these phenomenal students into our networks and experiences,” said Innovate518 Entrepreneur in Residence Bob Manasier. “Their energy, passion and focus on making their future world better is invigorating.

About CEG

The Center for Economic Growth (CEG) is the Capital Region’s primary regional economic development organization, with over 250 investors in business, government, education, and the not-for-profit sectors. CEG is a New York Empire State Development Division of Science, Technology and Innovation-designated Regional Technology Development Center and an affiliate of the National Institute of Standards and Technology (NIST)/Manufacturing Extension Partnership (MEP).

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