BATON ROUGE, LA (WAFB) - Thursday night, LSU awarded cash prizes to several start-up businesses thought up by students of the university.
The sixth annual Venture Challenge gave out prizes to entrepreneurs to help them achieve long term success. The four finalists for the challenge pitched their ideas live to a panel to determine the winner. In all, the project gave out nearly $25,000.
"The benefit is they get startup capital to put back into their business if they can't get a bank loan. And then tonight, they obviously get a lot of press coverage and their name is out there and they get to continue working with us, so we treat them as clients also. After today, we kind of go back and keep working with them, so we want to make sure they use this money in a good way and put it back in their business and get to where they want to be," said Kenny Anderson, student incubator director.
A group called Performance Mods took home first place Thursday night and won $10,000 in prize money. The crawfish app finished second and was awarded $7,000. An all-natural, vegan, organic bakery called Doux Bakery finished third with a prize of $6,000.