This is Derek Miller Speaking on Business.

The Utah Entrepreneur Challenge (UEC) is a statewide, student business model competition held at the Lassonde Entrepreneur Institute. Any college student or team of students can enter the challenge with a business idea by submitting an application on the Lassonde Entrepreneur Institute’s website.

Teams from universities across the state will go head-to-head with startup ideas competing for a chance to win $60,000 in cash and prizes based on the winning business model. Participating teams are judged by industry professionals and community experts. In addition to the grand prize, there are also additional prizes granted for best business model, presentation and technology.

Many past winners have developed into successful enterprises. The competition is open to all university students in Utah. Younger students, ages 14-18, are encouraged to complete in the High School Utah Entrepreneur Challenge as well for a chance to win $25,000 in prizes. The program is managed by the Lassonde Entrepreneur Institute and sponsored by Zions Bank.

The 2020-21 application deadline for the Challenge will be open Nov. 20, 2020, at noon to Feb. 8, 2021, at midnight. This is a great opportunity to test your idea and refine your pitch to potential investors. For those interested, the public and special guests will be able to attend the final showcase and awards ceremony later in the spring.

I’m Derek Miller, with the Salt Lake Chamber, and this is “Speaking on Business.”