Business Plan Competition
Kuiper and Pope on award-winning business plan competition team
Statewide employees Buffy Kuiper and Michelle Pope were part of an award winning team in both the UAF School of Management Business Plan Competition and the Alaska Business Plan Competition. The contests gave teams of students the opportunity to develop business startup ideas, and pitch their business plan to a panel of judges. It provided insight into the process of developing a business plan and selling the idea to potential investors.
Their winning project proposal was for Alaska Glass Recycling Products LLC, a diversified glass recycling company based out of Anchorage. The business plan was to collect recycled glass, and transform that glass into mixed color cullet. Glass cullet is crushed glass that can be many different sizes (ranging from a small pebble to a fine powder) and can be used in a variety of applications. Products that can be created with glass cullet include:
- Construction aggregate – Fine powder and sand sized cullet used in roadway construction and as bedding for utility piping.
- Abrasives – Glass cullet is a substitute product for sand used in sandblasting. There are several health benefits that come from using glass cullet instead of sand for sandblasting, including the elimination of the risk for Silicosis (scarring of lung tissue).
- Traction – Glass cullet can be used on roadways and in parking lots for traction purposes.
- Niche Markets – Crushed glass is great for landscaping, mulching, craft products, glass countertops, and a variety of other niche products.
The plan identified two revenue streams, one from the collection of recycled glass from bars, restaurants and hotels; the other from the sale of glass cullet. The team predicted revenues of almost $1.4 million dollars in the fifth year of operation. The plan included the possibility of expanding the collections and glass cullet business to other areas of the state. They were requesting a $400,000 loan to cover startup costs.
While contestants didn’t really receive the investment money for their ventures, winning teams received cash prizes. The competition was broken into two categories based on the type of investment being sought: equity or debt financing. At the state competition in each category the winner got $4,000, second place earned $2,500 and third place winners got $1,000. At the UAF event the categories were combined and the winning team earned $2,500.
On the team with Kuiper and Pope were fellow business students Charles Allen, Alli LeBon, Derek Miller, Mickela Threlkeld and Jason Miller.