Much like the hit show that inspired it, the annual Chap Tank competition provides students with the opportunity to explore business ideas and creative entrepreneurship for a chance at professional feedback and varied prizes.
Chap Tank is hosted by LCU ENACTUS, a student-led branch of an international organization dedicated to entrepreneurship and business leadership. Student participants began with a basic idea which, over the course of the semester, was built into a business plan.
Five students competed in the final round of the competition on April 7 by presenting their business proposals before a panel of judges.
Logan Shelburne took 1st Place in Chap Tank with his proposal for "Lubbock Incubator," a small business incubator to help new businesses launch and to help modernize struggling local businesses. Shelburne received a $1,500 cash prize. Additionally, Greg Garrett (‘86), President and CEO of Platinum Bank, offered Shelburne free business consulting and free office space in the Platinum Bank building until December 31.
Michael Brunton won the 2nd Place prize of $750 for his proposal for "Strictly Professional," a smart phone app that would make internships more approachable by bridging the gap between students and potential employers.
Aaron Hoh claimed the 3rd place prize of $250 for "ShaCam," a smart phone app that scans a product and returns a brand name, various price options, and information on how to purchase it.
Additionally, Jonathan Milam proposed "Retrospection," a stock market and investing application business that makes investing more convenient. Though Milam did not win a cash prize, Garrett offered him free business and financial consulting.
Janie Keller, a student from Wayland Baptist University, proposed a business that would allow educators to locally purchase school supplies at or below wholesale price.
To learn more about LCU ENACTUS and their events, click here.