The Griggs Center for Entrepreneurship and Philanthropy, located in COBA, founded the Springboard Student Venture Competition to support the growth of ACU undergraduate and graduate student businesses and nonprofit organizations. Winners receive one-time funding from $500 – $3,000.
In order for the students to be able to compete in front of the Springboard judging panel, the students must be enrolled at ACU, must own at least 51% of their venture, and must be engaged in entrepreneurial activities such as the Founders Club, a student venture club led by Mindy Howard, the Student Engagement Coordinator. Awards are based on the panel’s assessment of the potential of the business and the “spirit of entrepreneurship displayed by the student(s)”. Students come prepared with a 3 – 4-minute speech and the necessary financial reports for their business. Each student receives feedback on their presentation/business model and a chance to compete again in the next competition for those who are not awarded funding in the current competition.
This year Founders Club President, Karson Tutt, and Founders Club member, Lauren Gumm, were awarded for their presentations. Gumm, an elementary education major from Abilene, TX, runs a screen printing company called Wear It to Share I”. Lauren screen prints thrifted shirts by hand in order to bring people environmentally conscious and unique shirts. Tutt, a senior management major from Tuscola, TX, started Karson’s, an online jewelry company, which is now in the process of adding an in-person location in Abilene where many other products will be available. We interviewed both award winners to learn about their experiences participating in the Founders Club and the Springboard Student Venture Competition.
How has being involved in the Founders Club impacted your business?
Lauren: “Founders Club has provided so many resources for me and my little company! I’ve gotten financial advice and marketing consultations and had the opportunity to speak in front of members of the Abilene community about the awesome entrepreneurs at ACU! I started my business in my dorm room and being able to have an office space where I can work is another great resource that the Founders Club has given me. Founders Club has also given me a community to walk through business ownership with. My friends have always been super supportive of my business but having a group of people who also own their own businesses that I can talk through ideas and problems with has been a huge blessing.”
Karson: “I have loved getting to meet with other student entrepreneurs who understand the struggles I go through. I also participated in one of the pitch competitions and won money to put towards opening my store.”
What did you learn from the competition experience?
Lauren: “The competition gave me a sense of confidence in my abilities as a business owner. To be able to present the work I constantly pour into and receive validation that what I’m pursuing is smart and in demand was really reassuring! I also learned how important it is to be confident in your abilities. The judges were looking for business owners who happen to be full-time students. I walked away really feeling like they saw me as a business owner and a student.”
Karson: “I learned that I am actually more confident in my business as a whole than I thought. I used to think my business was just kind of small and not that big of a deal, but it’s actually really cool that I’m doing this and it’s not as hard as I thought to talk to adults about what I do and my plans for the future.”
What is your plan for your business now that you have won the competition?
Lauren: “Winning the competition gave me the ability to purchase new equipment that I desperately needed. The equipment I started out with in 2018 still functioned perfectly fine but it was the cheapest option available and therefore required every element of the process to be done by hand. My new equipment is what allowed me to fully pursue printing on thrifted shirts! I simply didn’t have the time to thrift and print but with the time saved using my new equipment I am able to do both!”
Karson: “I was planning on opening the store regardless of if I won or not, but now that I did win the extra funding I was able to literally expand the space of the store and get nicer versions of the things I was already going to be getting (ex. cash register, security system, light fixtures, etc.).”
Is there anything you would like to add?
Lauren: “I just want to encourage anyone who thinks they want to begin a business to go for it! Even if it isn’t a business you want to pursue long-term you can learn so much through the process! I have an appreciation for entrepreneurs that I wouldn’t have if I hadn’t taken a leap of faith and started Wear It to Share It!”
Karson: “The Griggs Center and Founders Club truly have been a great asset to me and my business. I love the community that has come from being involved.”