Burgan Entrepreneurship Prize hopes to spur business ideas
Youngstown State University students with ideas for new businesses will compete for a $2,400 grant under the new John Burgan Entrepreneurship Prize at the Williamson College of Business Administration.
Patrick Burgan, broker and second-generation owner of Burgan Real Estate, is funding the award in honor of his father, John, an entrepreneur, businessman and community leader.
“My father has and continues to be an example of how success is not only defined by the achievements in your career, but by the positive difference you make in the lives of others," Patrick Burgan said. "Like my father did for me, this gift is a way to invest both financial resources and confidence in a well-deserving student at YSU to assist them in going after their entrepreneurial dream."
The prize will be awarded to the YSU student with the most promising business idea. Applicants should submit a 3- to 5-page proposal outlining their idea and how the $2,400 prize will be used to advance the idea. Businesses do not have to exist, but if they are operating, the proposal should include details on current operations. Proposals will be judged on feasibility, market assessment, creativity and entrepreneurial spirit. Finalists will present their proposals to a team of judges the week of March 1, 2020. Proposals are due Feb. 14, 2020, and should be emailed to Joseph Angelo, director of the YSU Entrepreneurship Center, at jfangelo@ysu.edu, with the subject line, John Burgan Entrepreneurship Prize. The YSU Center for Entrepreneurship reserves the right to limit the number of individuals invited to present their proposals.
“We are excited to launch this competition and support the entrepreneurial dreams of our YSU students,” Angelo said. “We are grateful for Patrick’s generosity and look forward to a wide range of business proposals being submitted by our students.”
The idea for the prize dates to when Patrick was 10 years old and spoke to his father about a business idea he had to sell custom watches to commemorate an anniversary of an automotive vehicle he liked. John Burgan gave his son with $2,400 to start the business. Patrick sold all of the 100 watches he created. His father helped Patrick invest his profits and, at the age of 17, the investment and earnings were used to purchase Patrick’s first house, which ignited his love of real estate, where he now is co-owner of the fastest growing real estate brand in the Mahoning Valley, a company his father started 42 years ago.