A team of five students from New Hyde Park High School won $5,000 cash and will share a $10,000 college scholarship after winning Nassau Comptroller George Maragos’ competition on Wednesday to conceive the best business plan to redevelop the Nassau Coliseum.
The winning plan involved placing solar panels on businesses around the 77-acre Coliseum site in Uniondale. The revenue would be generated by the excess energy produced by the solar panels.
The students can use the scholarship money at Hofstra University or Adelphi University and will split the cash prize.
Roughly 200 students from 16 area high schools competed in the second annual Entrepreneurial Challenge in Mineola. Teams had 10 minutes to convince a panel of judges that their plan was feasible and could be successful.
“Nassau County’s entrepreneurs of the future presented extraordinary business concepts that were ready to launch,” Maragos said. “The students gained invaluable business knowledge that can only be acquired outside of the classroom.”
A pair of teams from Plainview-Old Bethpage JFK High School won second place and a $5,000 cash prize and a third-place prize of $2,500.
In total, $33,000 in scholarships and cash prizes were awarded to students.
Officials from Forest City Ratner, which last year won the rights to redevelop the Coliseum and its surrounding property, made a presentation detailing their plans during the award ceremony.