The College of Media & Communication is hosting its second annual student startup competition beginning Friday (Feb. 19) with the Lone Startup, an entrepreneurial competition open to all undergraduate students at Texas Tech University.
Inspired by the ABC television series “Shark Tank,” the Lone Startup lets students pitch ideas on the topics of sports media, gaming, social media, digital entertainment, news and information, public advocacy and activism or innovative e-commerce.
The competition's coordinator, media strategies professor Geoffrey Graybeal, encourages students to sign up for Lone Startup if they have an idea for an innovative concept or a media product and are looking to develop it.
“One of the things that is unique about this competition is the mentoring aspect,” Graybeal said. “The deadline for submitting applications and pitch videos is Feb. 19, but the final pitch isn't until April 28, so the chosen finalists have about two months to work with alumni mentors.”
Mentors will be selected based on expertise in the area of the products finalists are pitching, and mentors then will assist the students in developing business plans and critiquing their final pitches.
The Media Innovation & Entrepreneurship Group, a student organization for aspiring entrepreneurs, will hold a number of workshops for the finalists, and Graybeal hopes the students gain knowledge about the process of creating a business plan to develop their ideas.
“The competition is all about, first and foremost, having a good idea for something that is innovative for a media product and then pitching it and getting skills in business model development,” Graybeal said.
Students can submit their ideas individually or as part of a team. If they choose to form a team, at least one member must be a student in the College of Media & Communication.
To apply to compete in Lone Startup, click here.