UNLV students’ business plans net cash at Nevada Governor’s Cup competition

Two student groups at UNLV are working hard to get their newly formed businesses up and running. They know an extra $25,000 in startup money wouldn’t hurt.

Both will compete for that money May 24-26 at Red Rock Resort, 11011 W. Charleston Blvd., in the Tri-State Donald W. Reynolds Cup Collegiate Business Plan Competition. Second-place winners will receive $15,000.

The graduate student team, Scuba Solutions, and the undergraduate team, 18 at 18, won the Nevada Governor’s Cup competition in their respective divisions last month in Reno.

Both teams won $20,000, which they invested into the development of their businesses.

Whether or not they win at the Tri-State final, where they will compete against the winners from the Arkansas and Oklahoma competitions, both teams said they plan to see their businesses through.

The 18 at 18 team is a series of digital how-to guides geared toward teens and young adults. Each guide is broken into 18 chapters of about 700 words each.

“Like the ‘Dummies’ books,” team leader Anthony Alegrete said, but shorter and accessible from iPhones and other mobile devices.

Alegrete said they already have four books in the digital can, including guides on how to get ahead financially, get healthy, create your own iPhone application and day trading.

The digital books were written by experts in the field and edited by the 18 at 18 team to appeal to youths.

“Instead of ‘Hello, sir,’ it’s ‘What’s up, man?’ ” Alegrete said.

Alegrete and his teammates, William Wong, Nathan Turner, Claudia Perez, Matt Petterson and Jami Vallesteros, plan to add about three books a month to their online collection.

Both 18 at 18 and Scuba Solutions said the Governor’s C up winnings have been essential to their development.

“($20,000) is a lot of money to a company like us,” said Scuba Solutions team leader Griffin Owings, who’s working toward his master’s in business administration. “It allows us to get our product off the ground. Otherwise, we wouldn’t be able to.”

Owings and his teammates, Chris Powell, Alex Straballa and Curtis Weinstein, developed the business plan from a design by engineering student Sean Daly.

Daly’s idea was a wheeled tote designed to help scuba divers transport their tanks over rough terrain.

Owings said scuba tanks usually are transported on generic dollies, and they can easily fall off, causing dings and dents in the compressed cans of air, which have to be inspected each time they suffer damage.

The Tank Tote, as they call it, is designed to securely carry tanks, making them safer to use.

Owings said the company’s big launch date will happen in November at the Diving Equipment and Marketing Association show in Orlando, Fla.

They also are busy developing other scuba products, he said.

The team’s faculty advise r, Andrew Hardin, is the director of the Center for Entrepreneurship at the University of Nevada, Las Vegas , 4505 S. Maryland Parkway, and is the one who taught these students much of what they’ve learned.

“The training is really good,” Hardin said. “We take them step by step through the process and bring in a lot of local entrepreneurs to help.

“The learning process is great, especially because they’re creating a real business,” he said. “They’re preparing for the future. Most of them are going to have to build business plans and work with engineers in the careers.”

Contact View education reporter Jeff Mosier at jmosier@viewnews.com or 224-5524.