  {"id":5559,"date":"2017-02-01T18:16:06","date_gmt":"2017-02-01T23:16:06","guid":{"rendered":"https:\/\/www.saintpeters.edu\/news\/?p=5559"},"modified":"2017-02-08T05:18:09","modified_gmt":"2017-02-08T10:18:09","slug":"young-entrepreneurs-pitch-their-business-ideas-to-local-sharks","status":"publish","type":"post","link":"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/","title":{"rendered":"Young Entrepreneurs Pitch Their Business Ideas to Local Sharks"},"content":{"rendered":"<p>Karen Castaneda &#8217;18, CEO, Anica Bustamante \u201918 and Maria Santacruz \u201917, young Âé¶¹ÊÓÆµ\u2019s University entrepreneurs representing a dessert for dogs company, Pup Pawps, took the stage at the Shark Tank Business Pitch competition at Âé¶¹ÊÓÆµ\u2019s University. They were trying to convince the panel of local judges (or sharks) that their idea was investment worthy.<\/p>\n<div id=\"attachment_5584\" style=\"width: 208px\" class=\"wp-caption alignleft\"><img fetchpriority=\"high\" decoding=\"async\" aria-describedby=\"caption-attachment-5584\" class=\"wp-image-5584\" src=\"https:\/\/www.saintpeters.edu\/wp-content\/uploads\/blogs.dir\/230\/files\/2017\/02\/Pup-Pawps-768x1024.jpg\" alt=\"pup-pawps\" width=\"198\" height=\"264\" \/><p id=\"caption-attachment-5584\" class=\"wp-caption-text\">Karen Castaneda &#8217;18, CEO of Pup Pawps<\/p><\/div>\n<p>The industry experts, also known as sharks, who judged the business pitches based on an intense rubric were Bruce Rosenthal, M.B.A., Ph.D., KPMG founding dean of the School of Business, Phil Delabar, M.B.A., business adjunct professor; Kimberly Sumpter, owner of\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001iCdo8hnB-gPsz2IpMI-hbXBINzjueSumr91YCMQpLy_J6nNX4JcpkTdZq5anisdtMhFkpURI8pAeCuaCuOddlZjS4I2KaRf-kaWM8JTA1Gb95xYWapzIP-IzlOz0X4Y6Wj8VgydDo704ORsLQDdjrm5Ww95JMLiJxRCyufOGXWM=&amp;c=cpPvF70Pe3Vv1lrUZNCOFwUJiMeDmTavoW5l90mB6hDdAsZAR6RVng==&amp;ch=ftHNZOCPdMCntJblX8x9Yj1tY9c-21ej34lNa2_m2x8uIwNAyeKRJg==\" target=\"_blank\">Wax Kandy Candle Company<\/a>;\u00a0Aleksandra Lacka of Insights Studio; and Janak Sarda, an international entrepreneur. The competition was supported by the Ignite Institute at Âé¶¹ÊÓÆµ\u2019s University, the Provident Bank Foundation and the PSEG Foundation and organized by the Âé¶¹ÊÓÆµ\u2019s business administration department.<\/p>\n<p>Pup Pawps distributed samples of its all organic and mostly gluten free dog dessert samples in an attempt to win over the judges. As well as gave a PowerPoint presentation that highlighted the benefits of the treats such as that they were also human-edible. (You could share a treat with your pet!) The PowerPoint covered the business plan, goals and objectives, target market and plans for expansion in the future. Groups including Pup Pawps enhanced their presentation by showing their strong social media presence and company websites (view the Pup Pawps website <a href=\"https:\/\/puppawps.com\/\" target=\"_blank\">here<\/a>). The Pup Pawps team was able to excite the listeners with their energy and won the audience choice award.<\/p>\n<div id=\"attachment_5585\" style=\"width: 277px\" class=\"wp-caption alignright\"><img decoding=\"async\" aria-describedby=\"caption-attachment-5585\" class=\"wp-image-5585\" src=\"https:\/\/www.saintpeters.edu\/wp-content\/uploads\/blogs.dir\/230\/files\/2017\/02\/Shark-Tank-Judges-1024x768.jpg\" alt=\"shark-tank-judges\" width=\"267\" height=\"200\" \/><p id=\"caption-attachment-5585\" class=\"wp-caption-text\">Shark Tank Judges<\/p><\/div>\n<p>\u201cPup Pawps was an idea started by our CEO, Karen, in her home and we\u2019re hoping that through this exercise we can launch it into a sustainable business,\u201d said Bustamante.<\/p>\n<p>During the question and answer sessions that followed each business pitch, the judges asked the teams tough questions. They inquired about the market potential of the products. They also wanted to know what barriers the companies will face and how they will deal with expansion. The judges pressured the teams to answer questions about their marketing strategy and the revenue potential of their ideas.<\/p>\n<p>First and second place were chosen by the judges and received cash rewards. The first place prize went to an ambitious freshman, Davin Varela \u201920 and his company Social Throne, a cell-phone\u00a0application. Even though his business was hypothetical, he was able to wow the judges with his upbeat attitude and pitch performance. Varela will move on to compete in a statewide collegiate business model competition called UPitchNJ.<\/p>\n<p>\u201cSocial throne had a lot of capacity for growth that fills an unmet need in the market,\u201d said Mary Kate Naatus, Ph.D., associate professor and chair of the department of business administration and director of research for the\u00a0Ignite Institute.<\/p>\n<div id=\"attachment_5583\" style=\"width: 277px\" class=\"wp-caption alignleft\"><img decoding=\"async\" aria-describedby=\"caption-attachment-5583\" class=\"wp-image-5583\" src=\"https:\/\/www.saintpeters.edu\/wp-content\/uploads\/blogs.dir\/230\/files\/2017\/02\/J-Life-Shark-Tank-1024x768.jpg\" alt=\"j-life-shark-tank\" width=\"267\" height=\"200\" \/><p id=\"caption-attachment-5583\" class=\"wp-caption-text\">Solomon Crawford \u201917 of J-Life<\/p><\/div>\n<p>Second prize was awarded to Solomon Crawford \u201917, and his clothing company J-Life, who impressed the judges with his plan for growth. J-Life is an established company that is online and is currently building a social media presence. Crawford designed his own apparel and then worked with American t-shirt and hat manufacturers. His company inspires people to live the \u201chigh life.\u201d \u201cBecome a mountain amongst your peers,\u201d the tagline of his business says on\u00a0<a href=\"https:\/\/www.instagram.com\/jlifeclothingco\/\" target=\"_blank\">Instagram<\/a>. The J-Life brand is reinforced by an urban photo shoot featured on his <a href=\"https:\/\/www.jlifeclothingco.com\/\" target=\"_blank\">website.<\/a><\/p>\n<p>&#8220;The Shark Tank competition is a great way for students to identify business opportunities, create a business plan and practice pitching to investors and a large audience. The students did a fantastic job preparing for the competition and presenting their business ideas,&#8221; said Dr. Naatus.<\/p>\n<p>Other companies included Angels Caf\u00e9 &amp; Bar represented by Jazmin Tepoz-Jimenez &#8217;19. Gins, The Impeccable Toothbrush was an idea pitched by Isa Devora &#8217;20, Nadira Fardos &#8217;20 and George Kourmousis &#8217;20. There were also food companies including an idea for a hot sauce company, Buccianti Pili Pili, developed by Paolo Buccianti &#8217;20, La Pizza De Casa developed by Robinson Pierre &#8217;19 and Espresso Delivery developed by Joshua Okaro &#8217;20.<\/p>\n<p>\u201cI think the Shark Tank competition at Âé¶¹ÊÓÆµ\u2019s gives up and coming entrepreneurs a chance to hone their presentation skills and gives them a chance to present their ideas to a panel of industry experts,\u201d said Bustamante.<\/p>\n<div id=\"attachment_5586\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-5586\" class=\"wp-image-5586 size-large\" src=\"https:\/\/www.saintpeters.edu\/wp-content\/uploads\/blogs.dir\/230\/files\/2017\/02\/Shark-Tank-Winners-1024x768.jpg\" alt=\"shark-tank-winners\" width=\"1024\" height=\"768\" \/><p id=\"caption-attachment-5586\" class=\"wp-caption-text\">Shark Tank Winners<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Karen Castaneda &#8217;18, CEO, Anica Bustamante \u201918 and Maria Santacruz \u201917, young Âé¶¹ÊÓÆµ\u2019s University entrepreneurs representing a dessert for dogs company, Pup Pawps, took the stage at the Shark Tank Business Pitch competition at Âé¶¹ÊÓÆµ\u2019s University. They were trying to convince the panel of local judges (or sharks) that their idea was investment [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,3,5,2,1],"tags":[],"class_list":["post-5559","post","type-post","status-publish","format-standard","hentry","category-alumni","category-current-students","category-faculty-staff","category-future-students","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Young Entrepreneurs Pitch Their Business Ideas to Local Sharks - News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chris Gonzalez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/\"},\"author\":{\"name\":\"Chris Gonzalez\",\"@id\":\"https:\/\/www.saintpeters.edu\/news\/#\/schema\/person\/5cb18550c1e96d3f518f7fda9c054289\"},\"headline\":\"Young Entrepreneurs Pitch Their Business Ideas to Local Sharks\",\"datePublished\":\"2017-02-01T23:16:06+00:00\",\"dateModified\":\"2017-02-08T10:18:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/\"},\"wordCount\":757,\"image\":{\"@id\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.saintpeters.edu\/wp-content\/uploads\/blogs.dir\/230\/files\/2017\/02\/Pup-Pawps-768x1024.jpg\",\"articleSection\":[\"Alumni\",\"Current Students\",\"Faculty Staff\",\"Future Students\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/\",\"url\":\"https:\/\/www.saintpeters.edu\/news\/2017\/02\/01\/young-entrepreneurs-pitch-their-business-ideas-to-local-sharks\/\",\"name\":\"Young Entrepreneurs Pitch Their Business Ideas to Local Sharks - 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