Whitman team wins two at a time at Venture Adventure and Panasci competitions

Whitman team wins two at a time at Venture Adventure and Panasci competitionsApril 27, 2006Amy Schmitzaemehrin@syr.edu

Martin J. Whitman School of Management undergraduates Shelley Kohan, Erica Fand, Meghan Kohl, Lauren Kopach and Erin Wilson won first place for their business concept “Fresh Cut Florals” at the Venture Adventure Undergraduate Business Plan Competition, hosted by the Center for Entrepreneurship of Colorado State on April 21 and 22. This win, by part of the team, came at the same time the rest of the team was winning the $25,000 first place in the Panasci Business Plan Competition at Syracuse University. The team previously won second place at the New Ventures World Competition at the University of Nebraska earlier this month.

Fresh Cut Florals’ patent pending product redefines the concept of an air freshener by incorporating it into high-quality silk flowers. By combining air fresheners with home decor, it has created a new value proposition, which the members expect to distribute through higher-end home decor retailers such as Pottery Barn and Pier One.

“The lofty success Fresh Cut Florals already has achieved in competition and their industry places them well beyond a student team,” says Eric Alderman, Whitman Professor of Entrepreneurial Practice and the team’s advisor. “Their business model is truly one of a kind and is implemented in a business plan written in such a way that predicts making it a reality. I expect to hear many great things about Fresh Cut Florals in years to come.”

The Fresh Cut Florals team earned more than $30,000 in prize money at the various competitions. All five members of Fresh Cut Florals graduate from the Whitman School in May 2006.