Newspaper article THE JOURNAL RECORD

University of Oklahoma Business Competition Helps Business Plan Get Street-Ready

Newspaper article THE JOURNAL RECORD

University of Oklahoma Business Competition Helps Business Plan Get Street-Ready

Article excerpt

A recent competition at the University of Oklahoma's business college gave Derrick Loveless an excellent opportunity to test his business plan before he enters the market, he said. Now he's ready to pitch his idea at real capital investors to get Lone-Star Thermoplastics on the road. Literally.

"The evaluation and feedback was invaluable," he said. "It revealed some of the blind spots I may have had. ... I was taking some issues for granted because I was in the highway maintenance industry myself, and I may have needed a little more explanation.

"It helped move me to the point where I'm ready to start filling out loan paperwork and seriously looking for seed money," Loveless said.

The Michael F. Price College of Business' first Business Plan Competition was held earlier this month, sponsored by the college's Center for Entrepreneurial Studies. Ricky DeRennaux, a finalist on the American Inventor television show, was featured guest at the event. His invention, HT Racers, was based on the concept of using computer-generated paper airplanes and truck models to motivate students, which he developed into a fully marketable product.

Loveless' idea is only tangentially related - Lone-Star Thermoplastics does involve transportation, it grew out of his personal interests, and the product is innovative.

"It involves road upkeep: painting lines on streets and highways, like passing lanes, safety zones and crosswalks," he aid. "In the past companies used water-based paint, but this new technology that's been developed in recent years uses plastic blocks that are heated and applied to the roads. It's much more durable and is relatively cheap.

"I worked in the industry two years to pay my way through undergraduate school, and I'd like to get back into. I have a passion for this highway maintenance industry," he said.

The competition paid $3,000 to Loveless for his first-place finish, but he needs a lot more. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.