NACOGDOCHES, Texas— From recording studios to lobbyist apps, Stephen F. Austin State University students pitched their business ideas to win the third annual “Shark Tank”-style Lumberjack Entrepreneurship Competition April 26.

“It takes a lot of moxie to stand up and say, ‘I’ve got an idea that is worth investing in,’” Matthew Smilor, director of the Rusche College of Business’ Arnold Center for Entrepreneurship, told contestants. "Year after year, I'm consistently amazed by the creativity and innovation of SFA's students. Their ingenuity, determination and passion are truly inspiring.”

Contestants were judged on the market opportunities for their businesses as well as their situational awareness, pitches, business models and go-to-market strategies by three judges: Jenny Meyer, SFA alumna and president and CEO of JEM Advisors in Houston; Kevin Carr, SFA alumnus and owner of Community Beer Co. in Dallas; and Bill McGaughey, SFA alumnus, certified public accountant and entrepreneur based in Lufkin.

The competition began with the lightning round, during which 12 students pitched their ideas. The judges narrowed down the contestants to five finalists, who presented longer pitches during the final round.

“The competition was really fierce,” said Dr. Raymond Jones, associate professor and director of the entrepreneurship program at SFA. “Each of the finalists was prepared and handled the tough questions from the judges very well.”

The first-place prize of $10,000 went to Sauce Dudes, an online platform that delivers “only the best gourmet sauce and spice blends to market from southern style recipes,” by Brady Dill, a senior history major from Spring.

“I am extremely grateful to be awarded the win in this difficult competition,” Dill said. “The other competitors were fantastic, and I am humbled to be selected as the winner. I plan to use my winnings to help grow my business into something profitable for years to come. I’d also like to thank the judges for giving us their valuable time.”