Kent State College of Business Administration students prepare to pitch new product
PRLog - Apr. 29, 2014 - KENT, Ohio -- Two entrepreneurship students are working on a new product they believe will change the way Americans participate in the stock market.
Seniors John Peroni and Ryan Garin hope to create the first stock market gift card. The card would contain a pre-determined amount of money that the receiver could then invest in the stock of his or her choice.
“The stock market is a great investment tool, but I think that a lot of people are intimidated by it or don't understand how it works,” said Peroni, the president of the student team. “Yes, this product has the potential to make any stock brokerage a lot of money, but more than that, it is a great way to educate our youth about the stock market.”
Peroni and Garin are currently working with College of Business Administration faculty and the University of Akron Small Entrepreneurship and Economic Development (SEED) Clinic to establish their company, Peroni Ventures, LCC., and apply for a provisional patent. They plan to pitch their idea to companies like Scottrade and E*TRADE.
The team’s faculty advisor, Craig Zamary, said he feels Peroni and Garin are “headed in a positive direction.”
“I would buy the gift cards for my kids and I am sure many grandparents would be willing to give them to their grandchildren rather than just toys,” said Zamary. “This is an opportunity for people to learn how to trade, budget, and invest whether they are children or adults. I am proud of these students for going out and executing this.”
Peroni and Garin plan to pitch the stock market gift cards this summer.