Alfred University to host third Future Business Leaders Competition

The goal of the FBL Competition is to attract potential students to Alfred University while giving them a platform to propose their business plans. This competition is open to all students, not just those interested in enrolling in Alfred University’s College of Business. The College’s first FBL Competition was held in the Spring of 2022; the second competition was held in November 2022.

The competition, sponsored by the University’s College of Business, is being offered in five categories:

• Quality Education— Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.
• Clean Water and Sanitation— Ensure availability and sustainable management of water and sanitation for all.
• Affordable and Clean Energy— Ensure access to affordable, reliable, sustainable, and modern energy for all.
• Sustainable Cities and Communities— Make cities and human settlements inclusive, safe, resilient, and sustainable.
• Decent Work and Economic Growth— Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

There will be $61,500 in prize money awarded to the winners, as follows:

• First Place. Each winner earns a $20,000 scholarship to Alfred University (payable $5,000 per year for four years) plus $500 to support their business.
• Second Place. Winners earn a $16,000 scholarship to Alfred University (payable $4,000 per year for four years) plus $400 to support their business.
• Third Place. Winners earn a $12,000 scholarship to Alfred University (payable $3,000 per year for four years) plus $300 to support their business
• Fourth Place. Winner earns a $8,000 scholarship to Alfred University (payable $2,000 per year for two years) plus $200 to support their business.
• Fifth Place. Winner earns a $4,000 scholarship to Alfred University (payable $1,000 per year for two years) plus $100 to support their business

To enter the competition, please write a brief summary of 500 words or less describing your business proposal and submit it to this link by Oct. 24. Proposals should include a plan of action, the “four P’s” of marketing (product, price, place, and promotion), your target market, and how you will gain initial investment capital.

Finalists will be selected by Oct. 25 and invited to come to Alfred University to present their proposal on November 3 from 10 a.m.-2 p.m. Each finalist may be accompanied by another student and a faculty member. Campus tours, breakout sessions and lunch will be provided. For students traveling three or more hours to attend the competition, Alfred University will cover your lodging fees at the Saxon Inn for November 2. Students out of driving distance may participate virtually!

For more information, please contact Tori Cramp, assistant dean, Alfred University College of Business, at 607-871-2682 or by email at cramp@alfred.edu