The Southern Utah University State Bank Business Challenge seeks to identify and support high-potential early-stage businesses through a competition featuring $50,000 in cash prizes. The event, hosted by the SUU Entrepreneurship Center, specifically encourages entrepreneurs from rural and Southern Utah to participate.
2024 Competition Winners
The 2024 competition results highlighted several successful ventures, led by Spencer Quinn and Brandon Flory of Merch Makers. The duo earned $19,000, which included a Grand Prize Award and mentoring sessions with Jeremy Smith and Brad Bonham.
Other notable 2024 winners included Diana Emilia Gomez of Tiny’s Botanas, who received $9,000 for winning the Audience Choice Award alongside an Accounting Services Package and a Marketing Package. Brandon Davis, representing Interval AI, secured $6,000, which included the Lt. Governor’s Choice Award.
Additional prize recipients in 2024 were Will Ducrest and Joe Lund of Push Pilot, who earned $5,500 and the Making a Difference Award. Other winners included Greg Aldred of Fishing Weed Blocker, who received $5,500, and Ricky Valadez of Sound Sculpt, who earned $2,500.
2023 Competition Winners
The 2023 State Bank Business Challenge featured a different group of entrepreneurs vying for the $50,000 prize pool. James Thelin of Mega Loaf and Megan Hutchinson of Sunnyside Up Pastures both secured $15,000 in awards.
James Thelin’s Mega Loaf won the Grand Prize and the Best Pitch Award. Megan Hutchinson’s Sunnyside Up Pastures received $15,000, which included the Grand Prize and the State Bank Legacy & Values Award.
Other winners from the 2023 cycle included Heidi Kershaw of Square in the Eye, who earned $10,000 and the Audience Choice Award. Jett Strand of Etched Timber received $8,000, which included the Governor’s Choice Award and the Best Student Business award.
Additional 2023 Prize Recipients
The 2023 competition also recognized several other participants with specialized awards and funding. Caden Matheson of PhotoHive received $3,250, while Torrie Meidell of Dream Acre Flower Farm earned $3,000 and mentoring opportunities with Brad Bonham.
Rounding out the 2023 winners were JP Teerlink of Parable Devices, who received $2,000, and Kevin Ravenberg of Velocity Boards, who earned $1,000.
Program Purpose and History
The State Bank Business Challenge is held as part of the One Utah Summit on the Southern Utah University campus. The competition is designed to foster entrepreneurship by providing capital and mentorship to early-stage businesses.
According to the SUU Entrepreneurship Center, the program is specifically intended to support entrepreneurs, particularly those located in rural and Southern Utah regions. The competition archive includes records from 2019, 2020, 2021, and 2023.
Entrepreneurship Center Support
The SUU Entrepreneurship Center continues to host the annual event, with previous iterations occurring in October 2023 and October 2024. For more information or to find support and resources, the center provides contact information through its official website.
Entrepreneurship Resources
The competition serves as a recurring platform for business development. The SUU Entrepreneurship Center manages the program and provides resources for those looking to engage with the local business community.
Summit Integration
The State Bank Business Challenge remains a central component of the One Utah Summit, providing a venue for high-potential businesses to showcase their ideas to potential mentors and investors.
