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IVC announces winners

June 18, 2016

Participants holding oversized checks at the IMPACT Venture Challenge awards ceremony, showcasing the winning team with a logo in the background.

Accounting Beyond Borders, led by Courtney Allen '16, won the Impact Venture Challenge receiving $5,000 of seed money.

The second annual Impact Venture Challenge (IVC), a “Shark Tank”-style entrepreneur competition, was held in the High Center’s Parmer Hall April 28. The six team finalists presented their business plans to a judging panel and a live audience. Accounting Beyond Borders, led by accounting major Courtney Allen ’16, won first place and a prize of $5,000 seed money.

The plan for the nonprofit organization is to serve the accounting and business needs of missionaries and mission organizations in Panama and around the world. By fulfilling these needs, the group relieves stress on missionaries, allowing them to more fully dedicate their time to their ministries.

Three young men wearing matching green shirts stand behind a table showcasing merchandise for the Sapwood brand.

“I had an idea to develop the accounting work I have been doing for missionaries in Panama for the past three years into a non-profit organization that helps missionaries globally,” said Allen. “IVC helped me do just that by providing guidance and structure to create a strong business plan and financial model that makes my idea for Accounting Beyond Borders a reality.” 

Second place and $3,000 went to Sapwood, led by business administration major Joshua Toal ’17. Through its sales of all-natural air fresheners, the company can donate to reforestation efforts. Third place and $2,000 was awarded to OmegaSwap, a business that allows college students to swap goods and services. The group is led by Ryan Fitzgerald ’16, Alec Marshall ’16, Kenneth Schofield ’17 and Austin Weaver ’16.

The IVC began last year as a collaborative effort of Dylan Thomas ’15, Ebenezer Dagu ’15 and Professor of Business Information Systems and Entrepreneurship Brian Nejmeh when the two alums were students in Nejmeh’s entrepreneurship class.

Two young men presenting on stage, one holding a pen and gesturing while the other stands beside him with a thoughtful expression.

We had a number of discussions around the topic of how could we motivate students to think more about launching businesses that both made a profit and made a difference in the world,” said Nejmeh. “Our sense was that some type of business plan competition might act as a catalyst.

Road to finals

To make it to the finals, teams had to advance through several rounds, including the concept overview, a business plan draft and a video pitch. A judging panel of faculty and alumni reviewed the plans.

Teams had to demonstrate that their product/service has a market, can be produced well, can generate a profit and will result in a spiritual impact.

Nejmeh says one of the most rewarding parts of the challenge is seeing students realize their God-given talents. “We know from many studies that this generation of students is more apt to start a business than any prior generation of students,” said Nejmeh. “Providing a solid biblical worldview and entrepreneurial foundation from which to launch such ventures is of critical importance. I am convinced, more than ever before, that God intends for us to leverage our talents and passions to launch sustainable entrepreneurial ventures as a platform for ministry.”

—Erin Bray ’10