HARRISBURG, Penn.–PSECU sponsored the seventh annual Pennsylvania's State System of Higher Education Business Plan Competition, providing the first place prize of $10,000 at the awards ceremony hosted at Shippensburg University.
The Business Plan Competition is an opportunity for students attending one of the State System’s 14 state-owned universities to compete for prize money that can assist them in making their dreams of becoming an entrepreneur come true.
“The students who participate in the Business Plan Competition are innovators. They’ve put the education they received through Pennsylvania’s State System of Higher Education to work, they’ve harnessed their creativity and professional drive, and they’ve used their collective skillsets to come up with business ideas that can have positive impacts for themselves and others around them,” said Barb Bowker, PSECU vice president of marketing and membership development and vice chair of Pennsylvania’s State System of Higher Education Foundation. “PSECU’s story is similar – more than 80 years ago, our 22 founders created the credit union in hopes of creating a better life for themselves and others in the community. From their innovation, and the $90 they pooled, we’ve grown to become Pennsylvania’s largest credit union, and we’re honored to continue their ‘people helping people’ philosophy by supporting this year’s Business Plan Competition.”
According to Pennsylvania’s State System of Higher Education’s Business Plan Competition website, “All competitors are encouraged to use their imagination to create their best business ideas. Each university has faculty and staff who are dedicated to providing personal attention to students’ ideas to prepare them for launch in today’s marketplace. A team of judges reviews the business plans, and the finalists, as well as all of the competitors, are recognized at an awards ceremony.”
At a reception immediately preceding the awards ceremony, semi-finalist and finalist teams participated in a poster display session. During the awards event, first, second, and third place prizes were announced, and PSECU provided a $10,000 check to the winning team.
In addition, PSECU Financial Education Manager Sara Weiser served as a judge for this year’s Business Plan Competition. It was Weiser’s fifth consecutive year serving in this capacity.
“Money management is a large part of developing a business and ensuring its long-term success. It’s not always enough to just have a great idea – you have to know how to finance your plans and grow them into profitable enterprises. That is one of the aspects I most enjoy considering when evaluating entries in the Business Plan Competition,” said Weiser. “I greatly appreciate the opportunity - on behalf of PSECU - to contribute to the efforts of this outstanding business competition. It is truly a beneficial experience for the many students who participate.”