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Pharmacy Entrepeneural Business Plan Competition

Mylan School of Pharmacy

The Second Annual Student Pharmacist Entrepreneurial Business Competition for the Duquesne University Mylan School of Pharmacy was held on October 3, 2013. Pharmacists, student pharmacists, faculty and Dean Bricker attended the event. Three pharmacy alumni served as judges for the competition: Rick Gribik (P'83), Jeff Fisher (P'85), and Walter Lizza (P'88). All three of the judges have focused their careers on being entrepreneurs in pharmacy.

Twenty students attended the event, and monetary awards went to the 1st, 2nd and 3rd place winners. In addition, winners received a certificate. The winner of the competition was Lauren Parrish; second place winner was Amanda McClelland; and third place winner was Scott Lynch. All three students had completed the Duquesne University Mylan School of Pharmacy Entrepreneurial Concentration, which is lead by Dr. Robert L. Maher, Jr,, Assistant Professor of Pharmacy Practice in the school of pharmacy. "It was an incredible experience. It was a rare opportunity for me to showcase my passion for business in a way that benefits the profession of pharmacy," said Parrish.

In an effort to promote and grow the interest in the pharmacy entrepreneurship, it is required that every student in the Pharmacy Entrepreneurial Concentration to create a blueprint business plan for the development of a future pharmacy business. Business planning is the key process for the development of a new organization, and it is the living document that helps aspiring entrepreneurs plan for the future, measure their achievements, manage their risks and stay focused. The business competition is designed to promote creative, innovative entrepreneurship among pharmacy students, and encourage them to develop a viable, innovative, pharmacist-owned business. This course sets structured time aside to incorporate the studies and principles of entrepreneurship. It allows the business competition to be a springboard for students to get their ideas on paper, and through a judging process have the opportunity to receive meaningful feedback on their business plans.

"Participating in the Entrepreneurial Business Plan Competition was the most inspiring experience I have ever had as a pharmacy student," said McClelland. "I feel accomplished that I chose a unique idea for a pharmacy business, created a business plan from scratch, and presented it to a panel of successful entrepreneurs. The feedback they offered for the business was incredibly valuable, and the overall experience bolstered my interest in future entrepreneurial ventures within the realm of pharmacy."

Lynch said the experience was "as fulfilling as it was stressful. The whole experience took more work and dedication than just about anything else I've ever had to complete, but the effort was all worth it to see your dreams and ideas coming together. The competition did nothing but motivate and reassure the participants, including myself, that a simple idea can turn into a tangible pursuit if you are willing to devote yourself to it. I'd ask any other students thinking about participating in the competition and the entrepreneurship concentration itself to not pass up the opportunity, as they will learn valuable skills not only in business,

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Mylan School of Pharmacy