RUSSELLVILLE, Ark. (April 21, 2008)--Four Arkansas Tech University students developed an idea to assist one of Arkansas’ fastest growing industries and reached the finals of the innovation category in the 2008 Donald W. Reynolds Governor’s Cup competition.
Senior Casey Chandler of Hot Springs, senior Mallory McKinney of Russellville, senior Kelly Millwood of Pottsville and junior Christina Stolarz of Murfreesboro created and presented a comprehensive business plan for how a mobile water treatment vehicle could be used to provide drilling companies operating in North Arkansas with an environmentally friendly and cost effective way to treat and dispose of the water they use while exploring for natural gas on the Fayetteville Shale.
The Tech students attended a luncheon honoring all Governor’s Cup finalists on Thursday, April 17, at the Statehouse Convention Center in Little Rock. According to organizers, approximately 1,000 students and advisors have participated in the Donald W. Reynolds Governor’s Cup since it was created in 2001.
Dr. Stephen Jones, assistant professor of management at Arkansas Tech, served as the advisor for the Tech team that reached the finals of the 2008 competition. Jones said that the idea for this year’s Governor’s Cup entry was submitted by Sandra Mitchell, a 2007 Tech graduate and a former competitor in the Governor’s Cup.
“(Mitchell) and her husband do service work for the natural gas exploration industry,” said Jones. “We started by looking at a plan for building a water treatment plant at a central location in North Arkansas, but we stumbled across this machine called the H2m0bile. It was cheaper, and it was something that could be moved from one site to another. Our students took that idea, created a business plan, rewrote and refurbished that business plan and then created a 20-minute presentation for the judges.”
Those judges --- Jerry Adams of the Arkansas Research Alliance, Lydia Carson of OmniBalm, Allen Engstrom of CFO Networks, LLC, Brad Henry of the Arkansas Economic Development Corporation and Keith Wheeler of ARMA Design --- selected Arkansas Tech’s entry as the third-best undergraduate innovation project in the state of Arkansas this year.
The project was the result of a semester-long process. The students even worked over Spring Break to finalize their presentation.
“To a student, this is one of the most practical classes they will ever take because it implements everything they have learned about what it is like to be out there and run a business,” said Jones. “In order to put this project together and be ready to answer the judges’ questions, the students have to be familiar with every aspect of the organization. They have to know the cost of each process and what their customers are looking for. They know they can provide a high-quality service, but they have to know if they can afford to provide the service and sell it.
“The students really enjoy the competition,” continued Jones. “It’s not like giving a speech in class. There is much more of a selling aspect to it because the judges approach it as if they were potential investors in the project. Learning how to do that is a different skill set.”
