The third annual Fowler Business Concept Challenge, which awarded more than $65,000 in scholarships to graduate and undergraduate students at the University of St. Thomas in 2010, is underway with the first of several informational sessions on the UST Minneapolis campus being held today.

The Fowler Business Concept Challenge, in association with the Schulze School of Entrepreneurship, will host the informational session from 5 to 6 p.m. in Schulze Hall #335. Professors and past participants will provide information and answer questions about the challenge. Other informational sessions are listed on the Fowler Challenge website. The challenge is held in October.

The Fowler Business Concept Challenge asks students to develop a business concept that has the potential to become a viable high-growth business. The teams that submit the winning business concept in each of two divisions (undergraduate and graduate) receive $10,000 University of St. Thomas scholarships.

“When we entered the competition, we only had a rough concept,” said 2009 winner Derek Buschow of his and teammate Jeremiah Messerer’s concept for “The feedback we received from the competition propelled us to identify a specific core product niche (video qualifying). … Since the competition, we have established various Beta sites with companies throughout the metro area, and the feedback we are receiving from those companies is extremely positive. We plan to bring to market this summer and open up our system to the public.”

For more information visit the Schulze School of Entrepreneurship Fowler Business Concept Challenge website.

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