UVM student team wins grand prize to launch new business in Vermont

Read the full article at vermontbiz.com. Here is an excerpt:

The University of Vermont (UVM) Grossman School of Business (Grossman School) hosted the final presentations of the inaugural Joy and Jerry Meyers Cup yesterday at the Ifshin Hall Keller Room. Out of the three UVM undergraduate teams that presented their business ideas to a panel of judges, Painting With Purpose won the grand prize of $212,500 in cash, with additional in-kind services from local organizations included to ensure their successful business launch and support the Vermont entrepreneurial community.

This is the first time a competition has awarded cash prizes of this magnitude to college students in Vermont. The Joy and Jerry Meyers Cup is one of two new entrepreneurial competitions launched by UVM, also including the Vermont Pitch Challenge for high school students, which recently named its first winner in the program’s history.

In attendance at the Joy and Jerry Meyers Cup presentations were the competing student teams, program donors Chip and Louise Meyers, a panel of judges including UVM alum Nicole Stata ’91 and members of the donors’ family, as well as UVM Grossman School of Business Dean Sanjay Sharma and several student and family spectators.

Three UVM student teams advanced to the final presentations event following the semifinal presentations in February. While Chip and Louise Meyers noted the judges enjoyed all the teams and their ideas, Painting With Purpose established themselves as the top team based on the strength of their pitch and their dedication to and involvement with the community. The judging criteria covered key aspects such as problem demonstration, solution uniqueness, go-to-market plan quality, and team passion. Additionally, judges will assess financial integrity, operational feasibility, growth potential, and broader impact on Vermont's society, environment, and economy.

Painting With Purpose is a residential and commercial painting company that donates a portion of its profits to CVOEO's Tim's House shelter in St. Albans, VT. The company specializes in painting but also offers lead abatement, lead inspections, power washing, and minor carpentry services. Painting With Purpose is a profitable venture that recently reached its two-year anniversary in February.