M&S Guitars licks the competition to claim the top prize in Mayo Business Plan Competition

(L–R): Dean of the School of Business William Keep presents the 1st Place prize of $12,000 to M&S Guitars: James Seyffart, Alex Matteson, and Tim Pfenninger. Photo (c) Deric Raymond '11
(L–R): Dean of the School of Business William Keep presents the 1st Place prize of $12,000 to M&S Guitars: James Seyffart, Alex Matteson, and Tim Pfenninger. Photo (c) Deric Raymond ’11

The M&S Guitars team, made up of finance majors James Seyffart ’14 and Tim Pfenninger ’14 and mechanical engineering major Alex Matteson ’13, claimed the $12,000 grand prize in this year’s Mayo Business Plan Competition, a contest designed to increase student appreciation for the challenges associated with developing a viable business offering (product or service) while, through an iterative process, recognizing those students best able to articulate a plan that addresses these challenges.

The team’s plan to build a new kind of guitar beat out team Campus Corner Laundry’s idea to create a laundry service for students at area schools (the team claimed the $6,000 second prize) and team SurpriseMe’s idea for a gift card app (which claimed the $2,000 third prize).

In all, seven teams competed for the prize money, which was donated by Professor Herbert B. Mayo and Eric Szabo ’97 (who also served as a judge).

Click here to read more about the competition.

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