MINNEAPOLIS, April 19, 2021 /PRNewswire/ -- After a year's hiatus, college students are back for a national entrepreneurship competition that seeks to find the next big idea. And with a national economy recovering from COVID-19, those big ideas are more needed than ever.
Twenty-five teams will compete virtually later this week in the University of St. Thomas-hosted e-Fest competition. The event will award more than $215,000 in prizes to jumpstart their business ideas, ranging from energy-harvesting vehicle shock absorbers to a hyperpigmentation-relieving deodorant designed for women of color.
Last year's event was cancelled due to the pandemic, although the Schulze Family Foundation still awarded $75,000 to finalist teams. With this year's award, the competition will have awarded more than $1 million since it started in 2017.
With their ability to drive innovation, social change and create new jobs, the roles of these entrepreneurs are critically important as a devastated global economy fights its way back from the coronavirus pandemic.
"Entrepreneurs will be more important than ever as we build back our economy," said Laura Dunham, Associate Dean of Schulze School of Entrepreneurship. "It will be the work of entrepreneurs and innovators to reimagine a society and economy that works for all its citizens, that creates opportunity for all, that fosters equity, fairness and justice. It will be the work of entrepreneurs to create the businesses and generate the jobs that will restore and revitalize our economy."
Schulze School of Entrepreneurship The Schulze School at the University of St. Thomas cultivates the next generation of entrepreneurial problem solvers and innovators. The school offers undergraduate and graduate programs in entrepreneurship and corporate innovation, as well as community resources to support new ventures, family businesses and corporate entrepreneurs.