Wright Venture 2023 | Photo by Emily Mancuso | The Wright State Guardian

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On Thursday, Apr. 6, five Wright Venture semi-finalists presented business ideas to a panel of esteemed judges for a shot at a grand prize.

Background and event

In January, preparations began for this year’s Wright Venture with university-sponsored workshops in small business proposals.

However, many of the participants began even earlier, getting business ideas into a presentation or preparing to show off already established small businesses.

Most participating students hailed from the Raj Soin College of Business, but any students could submit ideas and attend workshops.

Participants and businesses

Emma Beavers presented the already established Bite Me Bake Shop, which shows the concept of an affordable and delivery-based home bake shop. 

Peyton Hoff presented Absolute Roofing Services, which will launch April 10 and present a cost-effective option for roofing, specializing in storm damage. Hoff, a fifth year senior studying entrepreneurship and marketing, explained that the business offers affordable solutions. 

Shahriar Anwar presented T-Shirt Factory, a non-profit idea that would allow Dayton’s community of people without homes to make a personal profit selling t-shirts. 

Allyson Whittaker, using personal experience as an artist, presented Kaleidoscope, an art therapy business targeting hospitals, assisted living facilities and more.

Andrew Wiseman presented Can-Stopper, a unique product idea that would prevent spills from disposable aluminum cans.

Event and judges

The event began at 3 p.m. and ended at 5 p.m. Participants had just 10 minutes to present and a 10 minute question and answer session to wow the judges. The judges were Lesley Ott, chief operating officer of James Investment Research, Jonah Sandler, founder and chief entertainment officer of Scene 75 Entertainment and Chris LaFountain, founder and president of Glacier Industrial. 

Winners

The judges awarded Hoff and Absolute Roofing Services the grand prize. Ott commented on the winner. 

“[Absolute Roofing Services] was just a turnkey product almost. He had everything ready to go. He really thought through everything, getting all his marketing materials ready. He even went as far as getting quotes for the insurance company, so I think he just went way above and beyond,” Ott said.

Of these students, three went home with cash prizes to put towards start-ups. The WSU Foundation awarded Hoff (Absolute Roofing Services) $5,000. Wright Venture and sponsor James Investment Research awarded Hoff an additional $1,000. 

Wright Venture sponsor James Investment Research awarded Whittaker (Kaleidoscope) $500. Whittaker plans to use the funds to finance craft vendor show fees.

Beavers (Bite Me Bake Shop) won a $250 prize.

Grand prize winner reflection

Hoff’s main concern is to create a strong base and reputation for Absolute Roofing Services and prioritize customer experience.

Business professor Dr. Kendall Goodrich and the Entrepreneurship Club encouraged Hoff, who put nearly 120 hours into preparation to present at Wright Venture, supported as a third-generation business person in Hoff’s family.

In terms of prize money, Hoff is prepared to carefully invest in all areas of Absolute Roofing Services.

“I’m going to put a large chunk of it towards business insurance. I’m going to be putting some towards paid advertising. I’ll be investing about $885 of it into traditional marketing materials,” Hoff said. “This is how I plan to market because my target market is going to be mainly residential houses in the Dayton metropolitan area.

Wright Venture is currently set to return the next academic year and is open to all students, regardless of major or background. Learn about 2022’s Wright Venture Winner here.

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