March 8, 2021
As Rafaella Jean Villanueva traveled around Asia playing tennis as a teenager, she was frustrated that every time she exchanged currency, she lost at least 5% in commission fees. She wanted to find a way to eliminate such costs.
Now pursuing a finance degree at the University of North Georgia (UNG), the native of Manila, Philippines, found the perfect spot to get feedback on her idea for a phone application to solve this problem. Villanueva is one of the competitors in the innovateUNG Pitch Challenge, which will be a hybrid event at 6 p.m. March 16.
Hosted by UNG's Center for Entrepreneurship and Innovation, the third annual event will feature six student teams competing for prize money. The winning team will earn a $2,000 prize, and the second-place team will win $1,000. The people's choice award, which either of the top two teams is eligible for, is worth $500.
Students also will receive feedback from judges who work in the business world.
Villanueva, who plays on the UNG women's tennis team, has been working since summer 2020 on the app that would eliminate excessive commission costs and ease the way to engage in money exchange. She presented her idea at The Indus Entrepreneurs (TiE) University Pitch Competition in February and is excited to share her innovation with the UNG community.
"The main thing is getting more feedback, especially from the judges who are experienced with their own businesses," Villanueva said.
The teams of students, practicing social distancing and wearing masks, will deliver their pitches in the special collections room of the Library Technology Center on the University of North Georgia's (UNG) Dahlonega Campus. Judges will offer their insights via Zoom while spectators can watch online.
Dr. Ruben Boling, the center's director, said the experience helps students build their business toolkit.
"Being able to present in such an environment helps them to develop a strong presentation methodology," Boling said. "So when they go out and get a job or start their own business, they'll be great presenters."
Students also receive pitch training, mentoring, product feedback and professional connections through competing.
This year's other competitors are:
This year's judges are: