The National Community Pharmacists Association announced that teams of pharmacy students from the University of South Carolina, the University of Arkansas for Medical Sciences and the University of Georgia have been named finalists in the 2022 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition.
The three teams will present their business plans in a live competition on Oct. 1 at the NCPA Annual Convention in Kansas City, Mo. The winning team will be announced on Oct. 2 as part of the convention’s first general session.
“Addressing challenges in your pharmacy is made easier when you have an established, solid business plan to rely on. This competition helps equip pharmacy students today to be confident leaders as their careers progress,” said NCPA president Michele Belcher.
“I’m proud of all teams participating in this year’s Student Business Plan Competition for their strong work,” she said. Best of luck to the finalists from the University of South Carolina, the University of Arkansas for Medical Sciences and the University of Georgia. We’re looking forward to seeing the students present their plans at NCPA’s Annual Convention in October.”
Team members from the final three schools will compete for the following first, second and third place awards:
- First place: $3,000 to the NCPA student chapter and $3,000 contributed to the school in the dean’s name to promote independent pharmacy;
- Second place: $2,000 to the NCPA student chapter and $2,000 contributed to the school in the dean’s name to promote independent pharmacy; and
- Third place: $1,000 to the NCPA student chapter and $1,000 contributed to the school in the dean’s name to promote independent pharmacy.
The competition, supported by Good Neighbor Pharmacy, Pharmacists Mutual Insurance and the NCPA Foundation, is the first national competition of its kind in the pharmacy profession and honors two great champions of independent community pharmacy, the late Neil Pruitt Sr. and the late H. Joseph Schutte.
The purpose of the competition is to motivate students in pharmacy school to create a thought-out plan for either purchasing an existing pharmacy or opening a pharmacy from the ground up, and to prepare tomorrow’s pharmacy entrepreneurs for a successful future.
The teams rounding out the top 10 of the competition are Ohio Northern University, Rutgers University, Sullivan University, University of Iowa, University of Missouri-Kansas City, University of Texas at Austin and Washington State University.
Grading the teams’ business plans are independent pharmacy owners, business coaches and consultants, financiers, or community pharmacy practitioners, who must follow a detailed rubric when grading plans.
Schools submitting to the competition for the first time will receive a plaque for their participation. Each year that a school participates, it will receive a plate commemorating the year of participation to be added to the competition plaque. Teams placing in the top 10 receive a special plate acknowledging the distinction.