Competition Features Up to $5,000 in Prize Money
Prize money — potentially exceeding last year's $5,000 — will be available to award to emerging entrepreneurs as Wilmington College presents Quaker Tank, its version of ABC TV's popular Shark Tank March 2, from 7 to 8:30 p.m., in Hugh G. Heiland Theatre.
The spirit of entrepreneurship is alive and growing at Wilmington College as the Business Dept. presents the fourth annual Quaker Tank.
The finalists are McKayla Sites, The Urban Daily boutique; Matt Groom, Bag-M-Kicks shoe reseller; Cassady Healea, Sew Much Better women's fashion; Katrina Kanzari, Beauty-N-Beast baby clothes; Alyssa Kensill, Batty Boba Cafe; and the team of Stephen Lipps and Ethan Hawk, Outset Nutrition, supplements.
The event is free of charge and open to the public. Refreshments will be served.
Quaker Tank is presented with sponsorship from Lebanon Citizens National Bank at the Gold Level, First Financial Bank at the Silver Level and Merchants National Bank, Wilmington Savings Bank, McIntosh Real Estate Services and Wright-Patt Credit Union at the Bronze Level.
The competition is similar to the hit ABC-TV show but with a twist. Instead of promoting a product or invention, WC's contestants — all students at the College — are pitching their overall business concepts. Each will have roughly three minutes to present their idea before a panel of three "sharks" (judges).
Sharks are business leaders from the Wilmington community that have had a chance to review the contestants’ business plans and two-year financials prior to the event. They support entrepreneurship activities in the community and are partners with the College. After each contestant makes their opening pitch, a Q&A session ensues between the sharks and the contestant.
Each shark has a portion of the jackpot to spend on the contestants as they so choose. Indeed, last year $4,500 was given by the panel of sharks to the winning contestant. Additionally, the Quaker Tank production team has $500 to give to their favorite contestant. The sharks are free to split the prize money among the contestants or award it all to one.
This year's sharks are Lacie Evans of Heifer Please Co.; Tim Wiederhold, owner/operator of Wiederhold Painting; and Dessie Rodgers, executive director of the Wilmington/Clinton County Chamber of Commerce.
Judging is based on three main criteria: (1) Creativity – Does the contestant display a professional level of creative thought? (2) Finances – Does the contestant show complete awareness of the financial realities of an entrepreneurial venture? and (3) Feasibility – Is their project market ready?
Contestants will be making a pitch on why the prize money could best help their company develop, launch or grow.