The Canadian Academic Entrepreneur Challenge announced the winning team of its second annual contest. Two students representing the Canadian School of Natural Nutrition (CSNN) in Victoria, British Columbia, claimed the top $2,500 prize for their idea of a supplement to combat greying hair, coupled with a direct-to-consumer distribution strategy.
The Entrepreneur Challenge is a contest with the goal of encouraging entrepreneurial thinking, tasked teams of post-secondary Canadian students to imagine a unique product and outline an innovative sales plan utilizing the fast-growing direct-to-consumer channel.
As part of their successful submission, Fatima Sumar and Lovepreet Mahli presented their concept of the GreyGon Nutritional Supplement. The product, proposed to be distributed using social media and by utilizing influencers and affiliate marketing, featured a daily nutritional supplement that can reverse the signs of aging and greying hair, strengthening follicles, thickening growth and adding a natural glow to the user’s hair.
The Challenge judging panel members praised the product concept and awareness of the direct-to-consumer distribution method. They also loved Team GreyGon’s vision of targeting an aging demographic that is looking for cost-effective, easy-to-use solutions to maintain a youthful appearance. All while being savvy to the power of social media and trusted personal recommendations have on building effective consumer relationships.
Team GreyGon won $2,500 and a product bundle from supporting and sponsoring organizations. The 2022 Challenge was sponsored by SeneGence, Mary Kay, USANA, MONAT, Amway, and Gowling WLG.
“Interest in entrepreneurship among the Gen Z and Millennial demographic is growing, and the Challenge helps all post-secondary students – not just those enrolled in business programs – practice and explore the principles of entrepreneurship,” stated Peter Maddox, President of DSA Canada and Entrepreneur Challenge organizer.
“Our hope is that this contest will continue to serve as an easy and effective lesson planning tool for academics across Canada to promote entrepreneurial education to their students,” added Peter Maddox.
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