Y. student moguls hope trip to N.Y. brings in the cash

PROVO — In the world of small business, dreams often flow easily, but getting someone to back them with cash can thwart even the most energetic entrepreneur.

Many would-be business moguls find themselves tapping into their personal savings, seeking parental investment or even cajoling close friends.

For two Brigham Young University student-created companies, such financing might become a bit simpler. After all, $1 million shouldn't hurt anyone.

On Saturday,David Bateman, who created Property Solutions (which markets computer software to aid management of rental housing units), and Barry Ehlert, who created Shaggy Bag (which manufactures beanbag furniture), will be in New York City to participate in the Venture Bowl 2004 business plan competition. If they convince judges and other venture capitalist that their businesses will fare well, the teams could accrue the funds needed to further their dreams.

The competition they face as they jockey for funds against nine other schools — including the Massachusetts Institute of Technology, Harvard Business School and Columbia Business School — shows the strength of the BYU Marriott School of Management where the entrepreneurs hatched their ventures.

"All we have to do is point them in the right direction," said Don Livingstone, director of the BYU Center for Entrepreneurship.

The school created the center nearly 30 years ago, and over the past decade it has grown considerably. Currently, more than 1,300 students participate in classes and lectures on how to turn good ideas into viable businesses.

"When they get taught by a real-life entrepreneur, they get a fire lit beneath them," Livingstone said.

Livingstone attributes much of the recent business plan growth to BYU's push to involve all campus colleges. A number of entries for this year's Business Plan Competition came from outside the Marriott School of Management, including one of the finalists in this semester's T-Spline, an animation software company.

Livingstone also believes the school's "RM factor" — returned missionaries — is at play in the number of business plans being submitted, noting that many of the entrants have completed two-year missionary stints for The Church of Jesus-Christ of Latter-day Saints.

The school also makes use of successful local entrepreneurs like Larry H. Miller — owner of numerous car dealerships and the Utah Jazz — who teach classes that help students learn to whittle ideas down to a viable concept.