VALDOSTA: Valdosta State University and Hwashin Georgia have partnered to support the establishment of student-conceived, student-managed, and student-owned businesses in order to foster entrepreneurship and small business development.
The J. Donald Lee Center for Entrepreneurship accepts entries for its annual Business Plan Competition from all VSU students, regardless of major or prior business experience. Hwashin Georgia recently donated $10,000 to support this competition. Students that participate in this multi-week program gain knowledge about what makes a successful business plan and how to write one. In exchange, they receive professional advice from prominent figures in the field and have the chance to win seed funding to support the development of their ideas.
Director of the J. Donald Lee Center for Entrepreneurship and assistant professor of management at VSU's Harley Langdale Jr. College of Business Administration, Dr. Byeonghwa Park, said, "This competition helps students gain real-world experience, enhance their entrepreneurial skills, and provides them with the chance to win financial support for their ventures." "It additionally fosters student interaction with prominent figures in the industry and prospective employers such as Hwashin."
Applications for this year's Business Plan Competition will be accepted starting in November by the J. Donald Lee Center for Entrepreneurship. Students can register for the event and submit their preliminary business ideas for almost three months. The competition culminates in an April presentation of the full business plans to a panel of judges by the finalists.
Hwashin was founded in 1975 in Korea as a specialized manufacturer of car body and chassis parts. The company is currently making a sizable new investment in Dublin, Georgia, after its successful 2003 expansion into Greenville, Alabama, with the aim of starting mass production by December 2025.
Sungkee Kim, the CEO of Hwashin Georgia, stated, "As part of this expansion, Hwashin looks forward to a strong partnership with Valdosta State University and anticipates positive outcomes from the Business Plan Competition supported by Hwashin." "The company wants to play a significant role in the Georgia region's economic development."
The J. Donald Lee Center for Entrepreneurship was established by VSU's Harley Langdale Jr. College of Business Administration in the beginning of 2023. It is housed in Pound Hall on the Rea and Lillian Steel North Campus and brings together up-and-coming student entrepreneurs, educators, staff, and business executives to spark an innovative spirit and create relationships that span the campus, the local community, and even the globe. It provides all the tools, technology, equipment, and mentoring required to unleash the potential of the upcoming generation of entrepreneurs.