Undergrad Business Students Win $2,000 for Campus Business Proposal
Washington, D.C. - Four sophomores in Georgetown's McDonough School of Business won top prize in the "New Ventures - the Georgetown Way" entrepreneurship competition for their proposed campus cleaning service. Called GUNK - Georgetown University No-nonsense Kleaning - the business, if actually created, would become a "custom-tailored, full service, student-run, cleaning organization" for the campus.
"The GUNK team came up with a feasible idea that didn't require a big investment," said judge Margie Bryant, Associate Vice President for Auxiliary Services on the Georgetown Campus.
Second prize of $1000 was awarded to another sophomore team for the Georgetown Electronic Market, an online service for students to buy and sell used goods. A third group of sophomores was awarded $500 for Munchies, Mags, and More, a proposal to create a snack and magazine service for users of Yates Field House.
"Our team worked hard to deliver marketing, statistics and quantitative models in a detailed yet easily graspable manner," said Howard Chang, a member of the winning GUNK team. "In the end, we believe we delivered a business that was very feasible and profitable, and we feel fortunate to have been awarded such a great honor."
The competition, open to freshmen and sophomore business majors, was created to help business students learn what it takes to create a business. Sixteen teams competed for the prizes. Each had to state the problem they were trying to solve, propose a way to solve it profitably, describe the business model clearly, and present the proposal in a way that inspired confidence that the team could accomplish the task.
About the Robert Emmett McDonough School of Business
Georgetown University's McDonough School of Business is a premier business school located in the nation's capital. Founded in 1957 to educate undergraduate business students through the integration of liberal arts and professional education, the McDonough School today welcomes approximately 1,300 undergraduates, 620 MBA students, and more than 500 participants in its executive education programs annually. For more information about the McDonough School, visit http://msb.georgetown.edu.
About Georgetown University
Georgetown University is the oldest Catholic and Jesuit university in America, founded in 1789 by Archbishop John Carroll. Georgetown today is a major student-centered, international, research university offering respected undergraduate, graduate and professional programs on its three campuses. For more information about Georgetown University, visit http://www.georgetown.edu.