Patton Foundation Provides $8,500 for Student Innovators in Nashville
In a move to foster entrepreneurship among high school students in Nashville, the Patton Foundation has awarded $8,500 in grants to winners of its maiden Patton Entrepreneurship Grant (PEG) Challenge, held at The Academy Tutorial.
About the PEG Competition
The competition was designed to model the popular TV show “Shark Tank,” and tasked students to develop groundbreaking business ideas. The competition had six finalists: Kate Bachman, Kylie Bachman, Justice Frohock, Kaylee Howe, Trevor Johnson, and Moriah Plattner.
The Victorious Innovations
After much deliberation, Kylie Bachman emerged as the First Place winner and was awarded a $5,000 grant. Her winning idea, MyTemp Stick, is a creative coffee stirrer imbued with color-changing technology. The innovation signifies when one’s coffee has reached a safe and ideal temperature for drinking. Justice Frohock won the Second Place ($2,500 grant) for Jomo (Joy Of Missing Out), an unconventional cafe, and a mentorship membership program conceived to help youth unplug from digital devices and participate in live social events. Moriah Plattner, who was awarded Third Place ($1,000 grant), launched Single Bites, an initiative to provide lesser portions of groceries and perishable items by renting out space within markets. Single Bites caters to students, people living alone, or anyone dealing with limited storage space at home.
The Competition’s Mechanism
The PEG Challenge was inaugurated with a PEG Keynote by Spencer Patton, the founder of the Foundation, in February. The participants, consisting of The Academy Tutorial students ranging from grades 9 to 12, had to complete a 10-lesson virtual PEG Workshop. The workshop incorporated insights from fellow entrepreneurs before competition day on March 26, 2024. Each contender presented a 10-minute pitch highlighting their business idea, followed by a question and answer session with the panel of judges.
The Impact of PEG Challenge
Spencer Patton was deeply inspired by the passion and imagination of the young entrepreneurs and reiterated his belief in mentorship and opportunity, stating, “The success of the PEG Challenge isn’t just about the grants; it’s about inspiring participants to chase their dreams and shape their own futures. We can’t wait to see what comes of these students’ exciting ideas.”
Spencer Patton, who founded multiple logistic companies like Patton Logistics, Route Consultant, and Hello Truck Lease, successfully transformed his business worth $0 into a business worth a whopping $100 million in less than 10 years. Through the Patton Foundation, he has continually supported students with substantial grant amounts.
More PEG Challenges to Come
More PEG Challenges will be hosted at different schools and universities across Tennessee, with the next one scheduled for April 22 from 6:00 to 7:30 p.m. at the Middle Tennessee State University (MTSU) at the Miller Education Center on campus. This is sure to provide another exciting platform for budding entrepreneurs to showcase their innovations.
