It's an unusual equation: business students riding a limousine around the Indianapolis 500, pitching their business plans, but it all adds up to big money.
David Brim, Scott Wall and Carl Henderson of the UCF team were named finalists in the National Nascent 500 Business Plan Competition March 28 and received $1,500. Their team went on to win first place in UCF's business plan competition, The Joust Tournament, on April 11 and took home $12,000.
In the Nascent competition, each team was given eight minutes to pitch its business plan to a group of three judges in a limousine while cruising around the speedway. In addition to the ride, each team was able to tour the Indianapolis Motor Speedway Hall of Fame Museum.
The UCF team pitched its idea for an online networking Web site called Group Table. Group Table is designed to simplify group work in classes and allow the exchange of notes, outlines and other files.
"Group Table was created to help students save time and get better grades by maximizing the power of their group interactions and bringing them conveniently online, the way our generation likes to work," Brim said. "Group Table mirrors the same interactions of a physical group meeting but goes a step further, allowing students to add to discussions at their convenience and manage all of their groups simultaneously from one location."
Wall and Brim came up with the idea for Group Table about this time last year when they realized that getting groups and teams together for projects was extremely difficult given the hectic schedules of most college students. After talking to other students, they found that they weren't alone in this problem. They partnered with Henderson and began work on their Web site. They released Group Table to the public in February.
Students across the country are now utilizing this online environment to work on everything from simple group projects to law school mock trials. With a predicted increase in college enrollment in the next few years, the team hopes to continue expanding its Web site and help ease the common stresses of college students.
Some Web sites that are comparable to Group Table are also up and running. Sherlock Notes, for example, provides notes for students in a similar online environment, but there are some differences.
"Group Table doesn't sell notes to students," Brim said. "Group Table is a service designed for high-achieving students who want to collaborate and excel more efficiently through quality group interactions.
"Group Table does allow students to share their notes, outlines or other files with members of their group; however, that is just one aspect of the tool we provide."
Some teachers are not supportive of an online exchange of notes. Germayne Graham, a professor with the Lead Scholars Program and a psychologist at the UCF Counseling Center, said he feels there is more benefit when students meet and work together.
"I don't think it's helpful if it takes the place of meeting in person," Graham said. "It could prevent personal development and good communication skills that could be beneficial to the student."
Brim said that he knows there are teachers at UCF who support the Group Table service.
"Several teachers here at UCF and at other schools are going to recommend students in their summer classes to use Group Table for their group projects," Brim said.
There are already many students taking advantage of Group Table and more who would consider using it.
Andrew Wood, an engineering major, said he feels that it's not that difficult to gather groups together for projects, but he would consider using Group Table.
"There are a lot of projects that require you to meet with people in order to complete it," Wood said, "but I would use anything that would make my life easier."
Group Table is currently looking for additional Web developers to join the team. Anyone who's interested should contact David Brim at dave@grouptable.com. For more information on Group Table or to register an account, visit www.grouptable.com.
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