Due to the COVID-19 global pandemic, the University of Saskatchewan (USask) Edwards School of Business decided to share the InVenture Business Plan Competition top prize equally among the top five entrepreneurial groups.
Each of the five finalist teams, chosen from 17 entries, is receiving $2,000 to acknowledge their effort to prepare pitches for the competition and gala.
The business plan submitted by USask Engineering students Brendon Carbert, Cory Ingram and Jordan Himmelsbach was for an innovation dubbed the "Bowl Butler." This is how they described their project and why they entered the competion.
Business description: Livestock require a year-round freshwater supply to remain healthy. Bowl Butler will provide year-round remote monitoring of this water supply for several common issues. Our solution will improve livestock health and reduce the workload of Canadian producers.
Why is entrepreneurship important to your team? Entrepreneurship offers our team a space to create technological solutions that disrupt the status quo.
What does your team plan to do with the prize money? We intend to invest our winnings into a soft launch of the Bowl Butler monitoring system this fall.
The in-person competition, scheduled for March 18, was slated to have the teams pitch their business ventures in front of experienced entrepreneurs, potential investors, and the Saskatoon business community, with the top entrepreneur taking home the $10,000 grand prize.
"As we adjust to the realities of the COVID-19 pandemic, we recognize the importance of supporting our local business community," said Dr. Keith Willoughby (PhD), dean of the Edwards School of Business. "We hope that this year's group of entrepreneurs will utilize this financial support to enable ongoing success for their businesses."
See all of the Inventure Business Plan Competition finalists.
A version of this story was originally posted on May 1, 2020 on the USask Edwards School of Business website.