StudioRedBank idea competition for NJ college students launched

Red Bank — StudioRedBank, a new organization started by local business owners to give back to area entrepreneurs, announced it has launched a statewide ideas competition for New Jersey college students. Submissions for the contest can be made at the organization’s website www.studioredbank.com through November 15.

StudioRedBank was formed this year by partners at DefinedLogic, a digital product innovation, design and development firm based in Red Bank. The organization’s mission is to help aspiring innovators develop ideas into viable businesses.

Many people have new ideas or better solutions to common problems but lack the knowledge or support to move forward. The mentors at StudioRedBank, including a variety of local business owners, will help make those ideas into success stories.  The main difference between StudioRedBank and other start-up incubators is that StudioRedBank does not take a percentage of the company, using a “pay it forward” model to strengthen the community.

Through an online submission process at www.studiored­bank.­com an entrepreneur can present their idea for the StudioRedBank mentorship. The mentors will review the proposals and extend an invitation into mentorship at the Studio to the most viable ideas.
The mentorship program has four key components: networking, management, business plan and a presentation. The culmination of the program is a meeting and demonstration with potential investors.

To celebrate the launch of the new group, students from colleges and universities in New Jersey are invited to submit their ideas for a chance to be the first StudioRedBank client. Submissions for the University Competition will be accepted through midnight on November 15.

Any postsecondary student from a New Jersey institution can submit their idea to the website using a valid university or college email address. The mentors at StudioRedBank will select the top five and post them to the StudioRedBank Facebook page. The winner will be decided through online voting. Whoever receives the most “likes” in two weeks will be the winner of the competition.