Vanderbilt students are given 10 minutes to pitch their business ideas before a panel of seasoned entrepreneurs and live audience for up to $5,000 in grants

The Patton Foundation will start the New Year with the highly anticipated Patton Foundation Entrepreneurship Challenge (PFEC), January 23, 2025, at Featheringill Hall on Vanderbilt’s campus. Aimed at fostering entrepreneurial literacy and innovation among Tennessee’s youth, this “Shark Tank”-style competition offers students the chance to compete for grants of up to $5,000.

Founded by Tennessee native Spencer Patton (the founder behind successful ventures such as Route Consultant, Patton Logistics and Hello Truck Lease) the PFEC says it reflects his steadfast belief that “entrepreneurship and small business leadership are vital to thriving local economies.”

“In under a decade, Spencer grew his business from $0 to over $100 million, exemplifying the power of entrepreneurial spirit and perseverance,” according to a release.

“The event kicks off with an inspiring keynote address aimed at encouraging young entrepreneurs to pursue their dreams and overcome challenges. Following the keynote, finalists will present their business ideas during a 10-minute pitch, followed by a five-minute Q&A with a panel of seasoned entrepreneurs,” according to a release.

Grants will be awarded to the top three participants:

  • First Place: $5,000
  • Second Place: $2,500
  • Third Place: $1,000

PFEC will include a workshop series offering real-world advice, resources and mentorship from successful Tennessee entrepreneurs.

“These workshops empower students to succeed in a competitive business landscape,” according to the release.

The next PFEC challenge will be held at  The University of Memphis, and will be open to students statewide.

For more information, Spencer Patton will be on hand at the Crews Center for Entrepreneurship January 24. The Memphis competition is scheduled for March 4.

“Competitions like the PFEC foster a vibrant community of young innovators, creating an environment conducive to collaboration, creativity and shared learning,” according to the release.

For updates visit spencerpatton.com/foundation.

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