Alexandria, Va. Aug. 1, 2014
- The National Community Pharmacists Association (NCPA) announced today that three teams of pharmacy students have been named finalists in the 2014 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition
. Teams of pharmacy students from the University of Arkansas for Medical Sciences College of Pharmacy; the University of California, San Francisco School of Pharmacy; and the University of Oklahoma at Tulsa College of Pharmacy, will present their business plans in a live competition Oct. 18, 2014 at NCPA's Annual Convention in Austin, Tex. This year's competition drew submissions from 42 schools and colleges of pharmacy.
"It's hard to overstate how impressive and inspiring the student business plan entries are and that's true again this year," said NCPA President Mark Riley, PharmD. "We congratulate the three finalist teams and commend all of the students on their accomplishment of putting together a comprehensive business plan. Good luck to the top three finalists as they gear up for their live presentations in October."
Team members and the advisor for the three finalist teams will receive complimentary registration, travel, and lodging to NCPA's 116th Annual Convention and Trade Exposition
in Austin, Oct. 18-22, where they will compete for first, second, and third place in an exciting, live competition
. The winners will receive the following 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.
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 goal of the competition is to motivate pharmacy students to create a business model for buying an existing independent community pharmacy or opening a new pharmacy. Through this competition, NCPA is better able to prepare tomorrow's pharmacy entrepreneurs for a successful future. The Business Plan Competition 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 competition is supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies, and the NCPA Foundation.
The remaining finalists in the top 10, listed alphabetically, are: Midwestern University College of Pharmacy-Glendale; Ohio Northern University-Raabe College of Pharmacy; Roseman University of Health Sciences College of Pharmacy; University of Minnesota College of Pharmacy; University of Oklahoma College of Pharmacy—OKC Campus; University of the Pacific—Thomas J. Long School of Pharmacy; and the University of Washington School of Pharmacy. The submissions were judged by a panel of 50 NCPA members and Good Neighbor Pharmacy business coaching consultants.
All participating schools receive a plaque commemorating their participation in the competition. Each year, competing schools receive an engraved plate to add to their plaque, and teams placing in the top 10 receive a special plate acknowledging this distinction. For more information about the Business Plan Competition, please visit NCPA's website.