News Releases

Morris Competition rewards entrepreneurship passion

Tuesday, January 12, 2010

BY WAYNE LARSON

"Before I began the class I just had a bunch of ideas floating around in my head," said Junior in Business Management and Leadership Studies Simone Cahoj. "My entrepreneurship class helped me learn all the parts that go into creating a business plan."

More than 60 groups entered their new venture ideas into the Mark L. Morris New Venture Development Award Competition at the end of the fall semester in Director of Entrepreneurship Programs Wallace Meyer's ENTR 410 class.

Four groups emerged from the large field to claim $1000 awards for qualifying for the final round of the competition. The groups presented in front of a four judge panel in early December. The four teams were competing to win an additional $1000 award which is given to the best new venture idea.

The monetary awards are certainly an honor, but the two teams that won the competition said their passion drove their new venture plans, not solely awards.

"I kind of forgot about the competition throughout the semester," said Junior in Business Administration and co-winner Courtney Petrehn. "I was focused on making the class-work improve my venture idea more than anything else." Petrehn's "Take HeART" venture is an online art gallery that features the work of artisans from around the world.

Petrehn's "Take HeART" new venture plan tied with the plan of Cahoj and Senior in Industrial Design Clayton Beese. Cahoj and Beese designed the Prairie Fish Farm plan.

The Prairie Fish Farm team was also passion driven. "I want to start this venture because it will help my community and I am very passionate about my community," said Cahoj who is from western Kansas.

In their final presentations, the teams discussed the basics of their ventures, ranging from problem statements to exit strategies, which were all covered in Meyer's ENTR 410 course, said Beese.

"I was surprised how in-depth Mr. Meyer went into the entrepreneurship process," said Beese. "He briefly touched on everything from building teams to finding places to get money."

The Mark L. Morris New Venture Development Award was created to encourage entrepreneurial behavior and provide experiential learning to all undergraduate students at the University of Kansas. The competition and awards are sponsored by Morgan Creek Capital Management in honor of Mark L. Morris, Jr., an entrepreneur and veterinarian from Kansas.

The Morris Competition has been inspiring entrepreneurs for quite some time. KU undergraduate Mark Osman's new venture idea for a music magazine placed in the competition's final four group three semesters ago. His venture idea has come to full fruition. He is currently working as Senior Online Editor at "Eleven Magazine," which is published in the St. Louis Metro Area, while finishing up his undergraduate degree.

Cahoj, who has been working on new venture plans since her sophomore year in high school, said winning the competition helped her solidify her passion for entrepreneurship. "It's nice to see that someone else sees my plan is viable," said Cahoj.

Sharing the top spot in the competition also gave Petrehn gratification. "It makes me really excited because the main reason I chose to study business was to do something like this," Petrehn said. "My venture is more than just a job, it's my passion."