Painting With Purpose named the inaugural winner of the Joy and Jerry Meyers Cup, the first-of-its-kind entrepreneurship funding competition for UVM undergraduate students

BURLINGTON, Vt. – The University of Vermont (UVM) Grossman School of Business (Grossman School) hosted the final presentations of the inaugural Joy and Jerry Meyers Cup yesterday at the Ifshin Hall Keller Room. Out of the three UVM undergraduate teams that presented their business ideas to a panel of judges, Painting With Purpose won the grand prize of $212,500 in cash, with additional in-kind services from local organizations included to ensure their successful business launch and support the Vermont entrepreneurial community.

This is the first time a competition has awarded cash prizes of this magnitude to college students in Vermont. The Joy and Jerry Meyers Cup is one of two new entrepreneurial competitions launched by UVM, also including the Vermont Pitch Challenge for high school students, which recently named its first winner in the program’s history.

In attendance at the Joy and Jerry Meyers Cup presentations were the competing student teams, program donors Chip and Louise Meyers, a panel of judges including UVM alum Nicole Stata ’91 and members of the donors’ family, as well as UVM Grossman School of Business Dean Sanjay Sharma and several student and family spectators.

Three UVM student teams advanced to the final presentations event following the semifinal presentations in February. While Chip and Louise Meyers noted the judges enjoyed all the teams and their ideas, Painting With Purpose established themselves as the top team based on the strength of their pitch and their dedication to and involvement with the community. The judging criteria covered key aspects such as problem demonstration, solution uniqueness, go-to-market plan quality, and team passion. Additionally, judges will assess financial integrity, operational feasibility, growth potential, and broader impact on Vermont’s society, environment, and economy.

Painting With Purpose is a residential and commercial painting company that donates a portion of its profits to CVOEO’s Tim’s House shelter in St. Albans, VT. The company specializes in painting but also offers lead abatement, lead inspections, power washing, and minor carpentry services. Painting With Purpose is a profitable venture that recently reached its two-year anniversary in February. 

“Congratulations to senior Jake Falanga and Zach Dunn ’23, the first winners of UVM’s Joy and Jerry Meyers Cup. We look forward to seeing their project grow and evolve to make significant contributions to our state’s economy,” UVM President Suresh Garimella said. “The Joy and Jerry Meyers Cup supports the university’s commitment to advance the economic and social well-being of Vermont by encouraging student entrepreneurship and motivating innovation in the state for years to come.”

The Joy and Jerry Meyers Cup was announced last April as a first-of-its-kind initiative to fund and support UVM students in launching their business ideas and growing them into successful enterprises in Vermont. This “business launch competition” is open to undergraduate seniors at UVM from any degree program who are actively starting new ventures in Vermont, preferably with strong social impact. Each year for 10 years, one grand prize winner will receive $212,500 along with in-kind services to help grow their organization in Vermont after graduation.

The competition offers meaningful opportunities for eligible entrants to develop mentoring relationships with corporate partners and improve pitches through detailed feedback from these advisors. Corporate partners will further provide support in the form of legal, accounting, marketing, and other start-up related assistance to the grand prize winner each year. UVM’s corporate partners for the Joy and Jerry Meyers Cup include Dinse P.C.; Fresh Tracks Capital; Fuse; Gallagher, Flynn & Company; Hula Lakeside; and Vermont Center for Emerging Technologies. 

“The Grossman School of Business is grateful to the Meyers Family for their generous donation that provides a tremendous opportunity for both entrepreneurial-minded students and the Vermont community that will benefit from the innovation stemming from this unique competition over the next 10 years,” Dean Sharma said. “The Joy and Jerry Meyers Cup elevates the Grossman School’s existing portfolio of entrepreneurial activities. With ongoing support and guidance from business mentors each year, all students who become involved will gain concrete guidance for launching their business idea.”

Chip Meyers and his wife Louise Meyers representing the Meyers Family Trust made the donation to the Grossman School of Business to fund the competition in honor of Chip’s parents, Joy and Jerry Meyers, who met as undergraduate students at the University of Vermont. The Meyers family intends the Joy and Jerry Meyers Cup competition to benefit UVM by showcasing student entrepreneurship and launching the winner’s business from concept to reality, helping create Vermont-based organizations that will profitably contribute to the economic, social, and environmental fabric of Vermont.

For more information about the Joy and Jerry Meyers Cup, visit go.uvm.edu/meyerscup.