Two academic-year long competitions for aspiring entrepreneurs and investment managers at DePaul University ended this spring with the selection of winning teams that were awarded thousands of dollars in cash and prizes.

The team of DePaul MBA student Russell Gottesman of the South Loop and business partners Katie Hill, also of the South Loop, and Scott McPherson of LaGrange won the DePaul New Venture Challenge, an annual business plan competition open to teams with at least one member who is a DePaul student and alumnus. Their business plan for Commuter Advertising, a public transportation new media advertising venture, was chosen for first place among three finalists by a panel of entrepreneurs and educators on May 29. The trio was among 60 teams that entered the popular competition in January.

Gottesman, Hill and McPherson won $15,000 worth of cash and legal assistance to help them grow their business, which will partner with public transit agencies to create, manage and sell audio advertising spots using patented technology for trains and buses. The business plan calls for ad revenue to be shared with budget-strapped transit agencies. Commuter Advertising already had been the successful proposer to become the first provider of audio advertising for the Greater Dayton Regional Transportation Authority. A pilot program is scheduled to begin July 1.

This is the third year DePaul’s Coleman Entrepreneurship Center has sponsored the New Venture Challenge, and past winners have successfully launched their businesses.

“The enthusiasm that students and alumni show for starting and growing businesses is evident in that fact that we had a record number of entrants this year,” said Raman Chadha, executive director of the center. “The vigorous process of creating a business plan for the competition and receiving feedback from the entrepreneur judges provide entrants with the discipline and practical guidance needed to turn viable business ideas into workable business plans.”

Finance Students Earn Cash Prizes in Driehaus Mock Investment Contest

Another student contest that began last fall–the sixth annual Driehaus Virtual Portfolio Competition–concluded May 30. Sponsored by Chicago money manager and DePaul alumnus Richard Driehaus, founder and CEO of Driehaus Capital Management, the competition teaches students about investment analysis and management.

Over the course of the past nine months, 10 teams of undergraduate finance students created mock stock portfolios using real market data, executed computer-simulated stock trades and provided regular management reports about their investment choices, strategies and results to faculty and Driehaus Capital Management representatives. Winners were chosen based on the development and implementation of their stated investment strategy as well as financial performance.

Each member of the first place team, called Meridian Capital Management, took home $2,250. The top team’s members were: Chris Ferrer of Mundelein, Ken Scott of Lincoln Park, Jake Savale of the Gold Coast and Kelsey Blindt of the South Loop.

“The team produced a very comprehensive analysis report–it looked like a Wall Street analyst’s report,” said Ann Marie Klingenhagen, competition advisor and finance instructor at DePaul’s College of Commerce.

At an awards banquet for the competitors, Cheryl Cannistra, vice president of Relationship Management at Driehaus Capital Management, praised the students’ performance in a challenging financial market. “This competition keeps getting better each year. The quality of your work was very impressive.”