Organization may qualify for SIFE world cup
This summer, Utah State University students in Students in Free Enterprise may have the opportunity to contend in the SIFE World Cup, an international business competition.
Celebrating its 25th year, Students In Free Enterprise (SIFE) is a non-profit collegiate organization supporting teams on more than 700 college campuses in 48 states and 15 countries. The USU SIFE organization was started this year.
Within SIFE, students interested in business are preparing to participate in an annual competition. They will showcase to judges how well they have taught business colleagues or students practical real-life knowledge of the free enterprise system.
Boyd has been a SIFE member for three years and said he’s never seen a group with as much talent and potential as this season’s SIFE team.
“The passion and the drive is definitely there,” Boyd said.
SIFE teams from 20 countries are expected to be at the cup.
“I believe our toughest competitors this year will be Canada, Mexico or Australia,” said Tom Payne, senior vice president of University Relations.
To qualify for the international meet, the USU SIFE team must first win regionals in Seattle, Wash. Then it must overthrow national competitors in Kansas City, Okla.
Payne said 744 teams will compete. Each will display a 24-minute multimedia presentation outlining their projects. Global business leaders will determine winners based on effectiveness of teaching other people principles of entrepreneurship.
SIFE awards winning teams more than $400,000 per year for outstanding business projects.
Nineteen countries will run in this year’s race for international SIFE awards, such as China, Vietnam, communist Russia and other countries. Four new countries have been added in since the previous year’s competition.
Payne said more communist countries than non-communist countries will contend for this year’s title.
In a recent Business Advisory Board meeting, directed by USU student Brad Jowers, Payne discussed the upcoming event with Boyd, Jowers, other SIFE members and companies including Campbell’s, Kinko’s Inc., Sherwin Williams and others to help USU’s SIFE team to prepare for the upcoming World Cup.
There, Payne said, “Don’t get too wrapped in the competition. Remember that you’re making a difference.”
Jowers said he is excited about it all because SIFE helps him apply business skills learned in the classroom to practical skills he can use at his job. He is currently working on an internship with “Leggett & Platt.”
“Ninety-seven percent of our money comes from companies,” Payne said.
The cup is funded by several $50,000 grants from a SIFE World Cup Leadership council.
Payne said the financial support assists SIFE in getting to regional competitions and includes companies like American Greetings Corporation, Business Week magazine company, Campbell’s Soup Co., Entrepreneur magazine, GE Lighting, Hallmark Cards, Jack Kahl and family, KPMG, Leggett & Platt, Inc., Radio Shack Corporation, Rich Products Corporation, Sensormatic Electronics Corporation, Unilever Home & Personal Care USA, VF Corporation, Wal-Mart Stores and many more.
Last year, contestants from colleges and universities in Albania, Australia, Brazil, Canada, Kazakhstan, Kyrgyzstan, Mexico, Poland, Russia, Tajikistan, Ukraine, United States and Uzbekistan participated in the event.
Those interested in learning more about SIFE may call 1-800-677-SIFE or visit www.SIFE.org