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Congratulations to our Venture Fund Competition winners! | Nourish International

October 28, 2014 | Posted in Uncategorized | By

Every year, the National Office holds a business plan and pitch competition among Nourish Chapters for seed capital investments in their innovative Venture ideas. This year, we were extremely impressed by all of the pitches we reviewed. Ultimately, we decided to award Ohio State University and Syracuse University $500 and $350, respectively, to implement their Ventures.

Ohio State’s business pitch detailed a plan to host their second annual ugly Christmas sweater sale. Last year’s sale was the Chapter’s most profitable Venture, earning them $800 to invest in their sustainable development Project in Ecuador. The Venture Fund seed capital will allow OSU to purchase additional sweaters at no further cost to the Chapter, meaning all revenue generated will be 100 percent profit. Akram Jabeer, the Chapter’s Co-Ventures Director, said he expects the profit to near $3,000 — a whopping 275 percent increase from last year’s sweater sale. “Receiving the Venture Fund gives our Chapter a boost in motivation as well as the confidence to approach every single Venture in the same demeanor as the Ugly Christmas Sweater Venture,” he said.

The Syracuse Chapter will hold its second annual Halloween costume thrift sale in the hopes of making it a tradition that students look forward to every year. The additional $350 will allow the Chapter to increase its supply of costumes and accessories, which will increase profitability of the Venture and help build the Nourish brand on campus and in the community. “If we didn’t receive this capital, we would have continued to launch the Venture, though with a smaller budget of $200,” said Ventures Director Eliza Kinnealey. “The Syracuse Chapter is so excited to be given this opportunity to scale our Halloween Thrift Sale.”

Boston College and Hope College received honorable mentions, earning them each $50 for marketing purposes. Boston College will launch BC Cupcakes, an online cupcake delivery service that will allow parents, students and friends to purchase cupcakes for events or loved ones on campus. Hope College will invest in an on-campus coffee cart, where they will sell local coffee and baked goods in dorm lobbies. Stay tuned for updates on their progress!

 

 

 

 

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