Sarah Klemsz, a University of Portland junior and a graduate of Prairie High School in Brush Prairie, has won the University of Portland’s first $100K Challenge, a business plan competition held Saturday on the university campus.
She will receive $50,000 in direct funding and $50,000 worth of services to help her launch her business.
She won with her pitch for “The Opportunity Operator,” a for-profit business that will link high school students to vocational schools and scholarship programs through a website and an offline catalog. She plans a launch by this fall.
“I feel amazing and also humbled,” Klemsz said, according to a university news release. “It means everything. It’s been my life all year.”
Klemsz is a double major — in finance, and in operations and technology management.
The competition was hosted by UP’s Center for Entrepreneurship and by Launch Pad, a recently formed group of donors and friends of the university who intend to monetize students’ ideas and strengthen the Catholic university’s alumni network. The Center for Entrepreneurship has held business plan competitions in the past, including a $16K Challenge for the past 12 years.
This is the first time the school has provided a $100,000 award.
Students from a wide array of majors formed 24 teams to compete for the startup funding. They prepared 10 minute business pitches and answered judges’ questions following their presentations.
Rich Paek, a judge of the competition, said he was impressed by the caliber of ideas presented. “It is very encouraging to see how many people are serious about launching companies.”
