February 4, 2013

State of Alabama
Press Release: Alabama Department of Commerce

BSC Students Who Created Discount Card Business Win Entrepreneurship Contest

February 01, 2013

BIRMINGHAM, Alabama - A team of business administration majors that fast-tracked the launching of a retail discount card business were the winners of a Birmingham-Southern College entrepreneurship contest.

Steel City Savings generated $3,300 in revenue, and $2,800 in profits, in two weeks, team member Jarett Giesey said today.

The team was one of 10 that was given $500 in seed capital and told to create a real-world business - soup to nuts - in two weeks and then run it for two weeks. The contest was part of a four-week entrepreneurship class that was meant to help the students see how what they learn in the classroom applies in the real world.

Chicago native Jarett Giesey, a member of the Steel City team, said the program succeeded on that front.

"There was a lot of work involved," he said.

Steel City, which negotiated discount deals with merchants and then sold discount cards on campus, outpaced the second-place team by $1,100, Giesey said.

Other businesses sold gourmet peanut butter, cleaning or laundry services or fund-raising services.

Members of the first-place Steel City Savings team included Giesey, Myles Kim, Andrew Huffman, Sawyer Voges, Tim Trockenbrot, Robert Nelson and Banks Nelson. All are seniors majoring in business administration.

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