RIVER FALLS – Shortly after August Baumann bought his first car, a ramshackle Ford Focus, the vehicle suffered a breakdown. Repairing the car would cost more than it was worth, so Baumann decided to sell it for parts. 

Baumann, a student at the University of Wisconsin-River Falls, had paid only $200 for the car, but he was able to sell its usable parts for $800. With that revelation, a business idea was born. 

“I realized there is a market for used auto parts, and I realized that I could make money selling them while also filling a need by providing quality parts that are cheaper than new ones,” Baumann said. 

In 2021, Baumann, a sophomore finance major from Cologne, Minn., started his own used auto parts business, A.F. Baumann Auto Parts, based in his hometown. On Wednesday he was one of six UW-River Falls student groups who presented ideas for businesses to a team of judges from industry at the Innovation Challenge event on campus. 

Participating students described their ideas for a potential business – or in some cases, for businesses that are already up and running – to a team of business owners and experts. Following 10-minute presentations, judges asked students questions about their business plans. Students worked with a faculty mentor in developing their presentation. 

Judges scored the event, and results were tabulated. Awards of $2,000 for first place, $1,000 for second place and $500 for third place were given, with the winner advancing to the WiSys Big Idea Tournament in April. The UW-River Falls Innovation Challenge was sponsored by WiSys, Greater Good Greens and U.S. Bank. 

Michelle Stangler, a senior from Watertown double majoring in journalism and agricultural marketing communications, won the first-place award for her Positivity in Ag podcast. Stangler participated on screen from Florence, Italy, where she ‘s participating in UWRF’s Semester Abroad Europe program. Baumann won second place, and third place went to Jake’s Window Cleaning, owned and operated by Jake Regan, a sophomore management major from Rogers, Minn. 

Other students participating in the event include Guma Jackson, a senior finance major from St. Paul, Minn.; Logan Rowe, a senior finance major from Forest Lake, Minn.; Spencer Burden, a sophomore marketing major from Sleepy Eye, Minn.; Tony Scarpone, a sophomore stage and screen arts major from Wyoming, Minn.; and Luke Heggestad, a junior markering major from Andover, Minn.  

During their presentations Wednesday, students discussed various aspects of their business plans, such as projected costs and revenue, how their business ideas originated, why they believe their business ideas can succeed, and how they plan to grow their businesses. They described results of customer discovery surveys they conducted, feedback they used to alter their business plans. 

Students also described challenges they have faced, and how in many instances, those challenges prompted them to pivot from their original plans. For instance, Rowe partnered with Burden, Scarpone and a student from another college to form RoweBoat Solutions, which would provide digital training to companies seeking to reduce their employee training costs. 

After conducting market research and surveying prospective business clients, they realized they would have to increase the amount of money they would charge for training videos to cover their costs. 

“As you work through the business setup process, you realize that you are going to have to make adjustments like that,” Rowe said. 

Those are exactly the kinds of lessons that Innovation Challenge participants learn by being part of the event, said Sheri Marnell, director of the St. Croix Valley Business Innovation Center and the organizer of the Innovation Challenge. 

“The kinds of challenges these students are learning about, the kinds of changes and research you need to do to see if your business idea is viable, those are exactly the kinds of decisions that business owners are making all the time,” Marnell said following Wednesday’s event. 

After students made their presentations, they met with judges to further discuss their business ideas. Judges said they were impressed with students’ business plans and acumen. Sarah Kowal, a 2000 UW-River Falls grad, owns Project Biz Lab through which she provides training to business owners. She has judged the Innovation Challenge in the past and praised students’ business ideas and dedication. 

“As a fellow entrepreneur, it is heartening to see these students’ business ideas and how hard they are working to make their businesses a reality,” Kowal said. “I want to do what I can to support them.”

Student participants said the Innovation Challenge process helped them better think through their business plans and see challenges they wouldn’t have otherwise noticed. The feedback of judges is especially helpful, they said, as is the support of Marnell and other mentors as they develop their businesses. 

Stangler praised the mentorship she received, saying it prompted her to think about her business and its potential in new ways. Research she conducted as part of the Innovation Challenge process led her to add a greater social media emphasis to her podcast business. 

“While this is a competition, what I wanted most from this is someone to bounce ideas off of and to keep me accountable,” Stangler said. “That’s what I love most about it.”

Submitted by UW-River Falls