Alderson Broaddus University sophomore Christopher Barthelemy has advanced the 17th Annual West Virginia Statewide Collegiate Business Plan Competition (WVSCBP) semifinals.
The Collegiate Business Plan competition consists of three rounds. Round one of the competition required participants to submit a 90-second YouTube video outlining the business idea, what problem it solves or the opportunity it provides, and details about the product consumer.
“My business is called FoodforLikes, explains Barthelemy. “It is a culinary social media app with a recipe database and the goal of minimizing the time it takes to find the recipe you want with ingredients you already have on hand. The idea is to bring people together and educate those who do not know how to cook or would like to improve their culinary skills”.
Barthelemy explains, “during COVID-19, I wanted to teach myself how to cook actual meals. As a new cook, it was difficult to determine what you could make when unsure of the entire process. I wanted to make this a fun and immersive learning experience for new cooks and experienced cooks who want to try something new.”
Business plan entries were reviewed by a panel of business professionals as judges and scored on a standard rubric. Barthelemy was chosen to advance along with nine other teams.
The semifinal round requires participants to create their formal business model. The five-page brief will include information regarding the value proposition, customer segments and relationships, marketing channels, cost structure, revenue streams, and more. Five teams, plus alternates, will be announced on February 1, 2023, and proceed to the final round.
According to its website, the WVSCBP “provides college students throughout West Virginia with the unique opportunity to make a business idea come to life with the support of state institutions of higher education and investors from around the country. The competition awards technical assistance funding each year to eager entrepreneurs in West Virginia”.