Four teams receive startup funding in Roo Idea Jump
Four undergraduate teams walked away with investments to their ventures following the Roo Idea Jump Wednesday, Dec. 7.
The Roo Idea Jump is an annual competition open to all for-credit undergraduate and graduate UMKC students. To be eligible, students must present an idea for a new, independent venture currently in the concept or seed stage. Students submit a report covering their venture’s value proposition, customer segments, revenues, costs and partnerships, as well as a business model canvas. From this initial business plan, finalists are selected to pitch their venture to a judge’s panel of local area entrepreneurs.
Out of 42 submissions, four teams advanced to the final round. Teams had five minutes to present their idea, following which they fielded questions from judges. Following the presentations, each judge had $500 in funding to allocate amongst the teams.
The results of the 2016 Roo Idea Jump are:
- First place and a total investment of $1,709: U-Bike
- Second place and a total investment of $538: People Out For Everyone
- Third place and a total investment of $422: Premier Nannies of Kansas City
- Fourth place and a total investment of $335: Rizzo’s Food Truck
Each finalist team received a $250 team award, and an audience voted People’s Choice Award was allocated amongst the teams, with U-Bike winning the top prize.
The Roo Idea Jump is supported by the UMKC Henry W. Bloch School of Management’s Regnier Institute for Entrepreneurship and Innovation.