Starting this year, MSMS will host the first annual MSMS-Regions Business Plan Competition. The creation of this event can be attributed to Stark Hayden, an MSMS Alumnus who initiated the meeting with Regions; Arthur Ducote, Regions Bank State President; Candie Simmons, Regions Bank Regional Marketing Director; Dr. Germain McConnell, MSMS Executive Director; and Dr. Kayla Hester, Social Science instructor, who will aid students with their business plans in preparation for the competition.

Composed of three rounds, this competition aims to allow MSMS students to utilize and show their entrepreneurial knowledge and skills. “The competition is an extension of the entrepreneurship program at MSMS. As you know, entrepreneurial principles are now taught within the Economics course, which requires a business plan to be submitted.  We want students to expand on and improve these plans that may be implemented at some point in the future,” Dr. McConnell stated.

The first round will involve a panel of students, faculty and staff, narrowing submissions down to the top ten. Following this, the second round will begin, in which the ten selected business plans will be sent to another panel of judges made up of entrepreneurs and business leaders. This second panel will narrow down the pool to five contenders. The five groups will then have the opportunity to work directly with the judges in revising and improving their business plans. Finally, the third round will commence, in which the top five groups will then pitch their businesses to the judges at the spring competition and winners will be decided.

Both MSMS and Regions Bank are eager to discover what students have in mind for this competition and observe the creativity at hand. “Both Regions Bank and MSMS feel strongly that entrepreneurship is vital to the economic development of Mississippi. MSMS harbors some of the most talented and capable young people in the state, and we feel that we need to cultivate an interest in entrepreneurship among our students because they are going to be the ones who will innovate and create the successful businesses of the future. Regions Bank knows that sponsoring an event like this is an investment in our state, and we hope to continue our partnership and grow the competition in years to come, ” Dr. Hester stated.

This competition will give MSMS students the opportunity to grow in both an entrepreneurial and overall sense, beyond winning and losing. “Even if they [MSMS students] don’t win, students will get the experience of creating a detailed business plan, which is a vital skill to any aspiring future entrepreneur. And those in the top five will get valuable input from professionals in the field and also build connections with influential people in the community and state,” Dr. Hester stated.