Ideas into Action

INNOVATION | What’s a promising entrepreneurial idea worth? For both future and current UVM students the answer could easily be in the neighborhood of $200,000. This fall the university rolled out both the Vermont Pitch Challenge for high school students and the Joy and Jerry Meyers Cup for current undergrads— both designed to spur innovative ideas.

The Vermont Pitch Challenge is an entrepreneurial-focused competition that gives high school students from across the world in grades 10 – 12 a chance to pitch innovative and impactful business plans—all while competing for individual cash prizes and full tuition scholarships to UVM. The new program is free to enter and offers young students a unique opportunity to learn from UVM faculty and alumni as well as top entrepreneurial experts about how to write a business plan, create a compelling pitch, and achieve their ultimate career goals. The Challenge is open to high school sophomores, juniors, and seniors—as individuals or as teams of up to three people.

Current UVM students from the Academic Research Commercialization (ARC) program and the Entrepreneur Club will introduce the challenge to high schoolers, judge the submissions, and mentor the finalists as they prepare to pitch in-person at UVM in April 2024.

“We believe in nurturing the next generation of innovators and providing them with the tools and mentorship needed to turn their ideas into reality, and this unique opportunity achieves exactly that,” said Jay Jacobs, UVM vice provost for enrollment management.

Prizes will be awarded to all individual members of each of the five winning teams. Firstplace students will each earn a four-year tuition scholarship to the University of Vermont, valued at up to $180,000; second and third place winners will each receive $5,000; fourth and fifth place winners will each receive $1,000.

The Joy and Jerry Meyers Cup is an annual initiative to help fund the businesses of undergraduate entrepreneurs at UVM. Announced in April by the Grossman School of Business, this is the first business launch competition of its kind in Vermont and aims to help mentor and finance UVM undergraduate entrepreneurs to create new Vermont-based business ventures. Each year over the next 10 years starting in April 2024, one grand prize winner from the current year’s graduating class will receive $212,500 in cash plus in-kind services from corporate partners to start their business.

The competition offers ongoing opportunities for eligible entrants to develop mentorship relationships with corporate partners and improve pitches. Each application draft submission is also an opportunity to receive feedback from corporate partners who will review and send feedback following each submission.

The annual competition is funded through 2033 by Chip and Louise Meyers, representing the Meyers Family Trust, in honor of Chip’s late parents, who met as students at UVM.