OU business students get real-world entrepreneurship experience VIDEO: Toney, runs 1:36

CASSI TONEY
Nov. 7, 2012

NORMAN - Business students start and run their own businesses for one semester through a Price College of Business program.

The Integrated Business Core program gives about 80 students each semester the opportunity to build four different companies, create a marketable product to sell and donate the proceeds to charities. According to its website, about 20 students work for each company.

“We start a company, elect officers, do market research for product then sell the products,” said James Young, marketing and entrepreneurship junior. “This is a great way to great real-world experience by launching a product into a new market.”

Young works for the Crimson Cooler Company, which is one of the four current Integrated Business Core companies.

“We’re selling a portable cooler that fits six cans or three bottles of water,” said Tripp Lopez, a broadcast and electronic media and entrepreneurship junior. “It’s really cool because it’s portable and easy to take along with you.”

The company’s website said the cooler keeps the drinks cold for about four hours.

“It’s a good way to show your school spirit when you are hunting, fishing, hiking or really doing anything outdoors,” Lopez said.

Lopez said their business has had the most success with tailgaters and parents of children in sports.

“People go crazy for them at tailgates,” Lopez said.

Hailey Wolcott, an international business junior said Crimson Cooler Company wanted to be competitive with other teams in the past and other current teams.

“Our product has the largest profit margin,” Wolcott said. “We really pushed ourselves to be competitive and raise a lot of money for Ally’s House, which is the philanthropy we chose to donate our proceeds.”

According to their website, Ally’s house is a nonprofit organization in Oklahoma City that helps parents of children with cancer pay for health bills, transportation and housing while their child is sick.

“We’re hoping to earn 17,000 dollars to donate to Ally’s House and really help them,” Young said.

Another aspect of the program is the sweat equity. All 80 employees of the four companies volunteer for a total of 500 hours each semester at local nonprofit organizations, according to the program’s website.

Lopez said the sweat equity was his favorite part.

“We volunteer with Loveworks and spend time with at-risk children,” Lopez said. “We’re basically just positive role models for them.”

Lopez said a lot of people do not want to buy their product at first.

“If you present it with our cause first, helping children at Ally’s house and Loveworks, then people want to help out,” Lopez said.