The University of Texas at Arlington has named the winners of its annual MavPitch Business Competition.
Going head-to-head, 13 student-led startups made their pitches last week, with six companies taking home a collective $85,000.
“We are trying to nurture and strengthen the entrepreneurial spirit and community here at UT Arlington,” said Jeffrey McGee, Maverick Entrepreneur Program organizer and associate professor at the university’s College of Business Department of Management, in a statement.
Taking home the top prize of $25,000 was Hashira Studios, a maker of anime-focused apparel. The company was launched last year by Jacqueline Gomez and Julio Sanchez. According to the university, Hashira saw its sales go from around $4,500 in December 2020 to more than $51,000 in June. The company previously received $15,000 in funding through the MavPitch competition’s first phase, a three-minute video pitch. According to Hashira’s website, the company is currently processing orders and expects to take new ones starting in September.
The Second Place prize of $15,000 was split between two companies: Carissa’s Custom Costumes, a convention- and festival-focused clothing business created by Carissa Knitowski, and Soirée, a meal kit delivery service. Each company received $8,000 in the earlier round of the competition.
Third Place awards went to three different companies, along with a $10,000 prize for each. Those companies included Petal, a company providing incentives for purchasing reusable bags, rock climbing equipment maker Pinch Master, and parking solutions company iPark. Petal previously received $15,000 in the competition, while Pinch Master and iPark received $8,000 and $10,000, respectively.
Funding for the competition came from the Maverick Entrepreneur Program’s Award Fund, which was launched in 2018 for the program by a group of anonymous UT Arlington alum. Since its creation, it has awarded more than $1 million in funding.
After making it through Phase I of the entrepreneurship program, the 13 companies participated in an accelerator program created in partnership between the university and nonprofit entrepreneurial support organization TechFW to hone their business plans and pitches.
“These student-led ventures have the potential to generate positive impacts on our economy, offering new products and services and creating jobs in our community,” said Kimberly Mayer, associate VP of research and interim executive director for the UT Arlington’s Center for Entrepreneurship and Economic Innovation, in a statement.
