The Razor’s Edge Shark Cage Scholarship Program has granted 19 junior and senior students the opportunity to open their own on-campus businesses in Mako Hall. The students in this program get both their bachelor’s and master’s degree in a combined four years, and as a part of their studies, they conceptualize and operate their Shark Cage businesses with the support of a yearly scholarship and a microloan of up to $5,000.
Students take the knowledge they gain from classes in the Razor’s Edge Shark Cage Scholarship Program and put them to use before formulating their business plan. Students have to go through several steps before their vision is implemented in Mako Hall.
“They go through specific courses that help them learn how to recognize opportunities, they do survey research, they make a shark pitch on their business to get feedback to see if this business is going to work, and then they also do a shark funding pitch because by now, with their coursework, they know how much money their business equipment and supplies and anything will cost,” explained Cheryl Babcock, director of the Razor’s Edge Shark Cage Scholarship Program. The pitches are then reviewed and evaluated by several members of the faculty before students can start their business.
“They have great ideas. They want to open their businesses, and they have support from the university [to do so]. They get their training in class, participate in several meetings with executives, have Executives and Entrepreneurs in Residence, or EEiR, sessions and distinguished lecture series. We have our conclave meetings where they have a lot of guidance from the director, and they learn with the [other] students as well,” said Fernanda Almada, the graduate assistant for the Razor’s Edge Shark Cage Scholarship Program.
Students utilize marketing, networking and negotiation skills to get ready for the business world. Underclassmen students in the program also help out with Shark Cage, gaining experience as well.
“It really helps them build their leadership skills, their organizational skills, it kind of pulls everything together,” said Babcock. “I’m extremely proud of all the kids. I’ve seen them grow as business leaders and as charismatic and caring young people anywhere from a year to three years. It just makes me really proud of them that they’re achieving some of the goals that they had set for themselves.”
Students operate their businesses about eight hours per week, meaning different businesses will be open during different hours in the Shark Cage in Mako Hall. For a schedule of their business hours visit nova.edu/razorsedge/sharkcage.
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