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Back of the Napkin Challenge
October 17, 6:00 PM – 8:00 PM
Waterville, ME 10/16/2024 – The second annual Back of the Napkin Challenge, a dynamic competition aimed at fostering creativity and entrepreneurial thinking among regional college students, will take place on October 17 from 6:00-8:00 PM at Greene Block + Studios in downtown Waterville. Fourteen students from Colby College, Kennebec Valley Community College (KVCC), and Thomas College have been selected to present their innovative ideas before a distinguished panel of judges.
The Back of the Napkin Challenge encourages participants to distill their startup ideas into a simple design, accompanied by a 60-second video pitch. Whether it’s an inventive product, a cutting-edge service, or a solution to a pressing challenge, this competition provides students a platform to bring their ideas to life. Students will compete in categories such as Consumer Goods & Services, Business Goods & Services, Trades & Technology Operations, Social Innovation, and Health, Clean Technologies, & Life Sciences.
“The Back of the Napkin Challenge is an incredible opportunity for students to turn their ideas into actionable plans,” said Colby College Director of the Halloran Lab for Entrepreneurship Jeremy Barron. “It encourages students to embrace innovative thinking, refine their communication skills, and take the first steps toward becoming successful entrepreneurs. Seeing their ideas come to life in front of a live audience is an exciting and pivotal moment for their growth.”
The finalists will pitch their ideas to a prestigious panel of judges, including Bill Carr, former VP of Digital Media at Amazon and author of Working Backwards; Margaret McFadden, Provost and Dean of Faculty at Colby College Elizabeth Fortin, Director of Workforce Development at Kennebec Valley Community College; and Luke Shorty, Executive Director of Strategic Initiatives at Thomas College. Carr will not only serve as a judge but will also share insights from his leadership experience at Amazon.
Kim Kennedy, a business administration instructor at KVCC, noted the unique learning experience the competition offers: "This challenge gives students a rare chance to move from idea to action in a supportive environment. It’s about more than just winning—it’s about gaining practical insights, testing their concepts, and growing as entrepreneurs through hands-on experience."
Susan Ruhlin, Managing Director of Dirigo Labs, emphasized the event’s role in fostering entrepreneurial growth: "The Back of the Napkin Challenge is a vital component of our innovation programming, providing students and aspiring entrepreneurs with a framework to validate their ideas. It encourages participants to engage with critical elements such as market feasibility and business model development, helping them transform initial concepts into viable, market-ready ventures."
Finalists will compete for $1,750 in prizes. 5 runner-up finalists will receive $250, and the overall winner will be awarded $500. Additionally, all finalists will receive a yearlong membership to Bricks Coworking & Innovation Space and a copy of Bill Carr’s book *Working Backwards*.
For more information or to register for the event, visit this link.
About The Halloran Lab for Entrepreneurship at Colby College:
The Halloran Lab for Entrepreneurship at Colby College offers entrepreneurship training and practical opportunities aimed at preparing Colby students to be effective innovators and entrepreneurs—whether they are creating dynamic new business ventures or improving existing organizations or programs. The lab provides funding for students to start commercial and social enterprises, mentorship, and access to innovation and maker spaces on campus and in downtown Waterville. For more information, visit https://www.colby.edu/halloran-lab-for-entrepreneurship/.
About Kennebec Valley Community College:
Kennebec Valley Community College (KVCC) is a 2-year comprehensive community college serving students from Somerset, Kennebec, and Knox counties. KVCC’s Workforce Training and Professional Development office provides a wide range of short-term training programs targeted toward business and industry needs. For more information, visit https://www.kvcc.me.edu.
About the Harold Alfond Institute for Business Innovation at Thomas College:
The Harold Alfond Institute for Business Innovation at Thomas College is focused on spurring economic vitality in Central Maine by nurturing talent that helps create jobs and wealth for the region. For more information, visit https://www.thomas.edu/career-services/institute-for-business-innovation/.
About Dirigo Labs:
Dirigo Labs is a regional startup accelerator based in Waterville, Maine, with a mission to grow mid-Maine’s digital economy by supporting entrepreneurs building innovation-based companies. Dirigo Labs operates under Central Maine Growth Council and is supported by academic institutions, investment firms, and organizations. For more information, visit https://www.dirigolabs.org.