Fairfield University’s Charles F. Dolan School of Business’ StartUp Showcase auditions are today at 5 p.m. in Dolan 206. During auditions, the participants of each team have a five-minute pitch, followed by a Q&A segment. The StartUp Showcase is a “Shark Tank”-style competition where five teams compete against each other for seed funding, which is essential for facilitating growth and stimulating the generation of income for new businesses.
According to Dr. Christopher Huntley, the Director of Fairfield StartUp, “We have lots of teams competing for five spots. If needed, we can expand to six teams.”
This year, most of the businesses are service businesses, and the mentors include “lots of mid-career alumni…[who] are the people who hire people!”
The teams consist of student entrepreneurs, typically five members per team, who pitch their business ideas to a panel of investors. Last year, the panel included Gonzalve Bich, the Director and CEO of BIC, and Robert W. Liptak, a Senior Managing Director in the Blackstone Life Sciences group. If they win, they receive not only the cash prize, but also experience from professionals and the opportunity to turn their business idea into a reality.
After the auditions, the top teams and pitches will be selected to participate in the StartUp Showcase. These students will then have the opportunity to compete for the coveted seed funding.
Tonight’s auditions are a crucial part of the journey towards sponsorship for the competing student innovators. To apply for next spring’s showcase, students can pitch their own ideas or join a pre-existing startup team and visit the Fairfield StartUp website to fill out the audition form.