Congratulations to the inaugural winners of the Illinois Retail Challenge Scholarship Competition!

The winning teams are:

First Place ($60,000 per team)

• Olivia Raczkowska and Jillian Hedke – East Leyden High School, Franklin Park
• Tristan Baxter, Aden Blome, and Naga Sai Dhiraj Kasam – Moline High School, Moline

Second Place ($40,000 per team)

• Sanchi Deshpande and Ayan Mahajan – Adlai E. Stevenson High School, Vernon Hills
• Sahana Harini Raja, Yug Mehta, and Meira Raitani – Adlai E. Stevenson High School, Vernon Hills

Third Place ($20,000 per team)

• Jaden Ahn and Sushant Medikondla – Glenbrook North High School, Northbrook

Honorable Mention ($2,000 per person)

• Josephine Hartman and Jack Armstrong – Carmel Catholic High School, Mundelein
• Callista Hovis and Isabella Garza – Eisenhower High School, Decatur and Meridian High School, Macon
• Lynn Welborn and Kaitlyn McKinney – Marshall Community High School, Marshall and Casey-Westfield High School, Casey
• Kennedy Smith and Jeremy Ivy – Chicago High School for Agricultural Sciences, Chicago

Challenge Overview

As Illinois’ first scholarship competition of its kind, the Illinois Retail Challenge Scholarship Competition strives to ignite the spirit of entrepreneurship and innovation among the state’s high school students. This exciting initiative offers a unique pathway to mentorship and deep exposure to the vibrant retail economy, empowering students to collaborate with local merchants, tackle real-world business challenges, and compete for valuable scholarships.

The goal of this business competition is to connect students with Illinois retailers to inspire and support high school seniors who are passionate about business, entrepreneurship, retail, and making a positive impact. We are looking for students who can present a creative, viable, and impactful business idea.

Illinois high school seniors will form teams of 2-4 students and collaborate on a pitch presentation and video in response to the retail prompt. A handful of teams will earn the chance to present their pitch to leaders from the participating retailers in an award ceremony/selection event with the top teams earning up to $60,000 in scholarship funds.

Download the scholarship challenge flyer by clicking here.

Governor JB Pritzker (left) congratulates Jaden Ahn (right) and Sushant Medikondla (middle) of Glenbrook North High School during the awards luncheon on May 20, 2026. Photo courtesy of Illinois Governor’s Office.

Application Process

The application period for the 2026 scholarship is now closed. Please check back in August for the 2027 scholarship cycle.

The Retail Challenge application process consists of three phases.

Phase I: Teams are asked to complete an intent to compete for the 2026 IRMA Illinois Retail Challenge Scholarship Competition to let us know they will be participating. Once submitted, teams will be contacted directly with information on the competition. Click HERE to complete the intention form.

Phase II: Teams are required to submit an application, an essay, a headshot, a 20-slide pitch presentation deck, and 90-second video presentation that addresses the business challenge they have selected. There will be a review period during which teams will be evaluated by retail judges.

Phase III: A maximum of five teams will be selected to advance to the third and final phase. In this phase, teams will present their pitches live to a panel of retail judges at an award event in Springfield. Judges will rank the finalist teams and award the following scholarship levels below.

Scholarship Award Levels

• First Place Team Award: $60,000 divided equally among team members.
• Second Place Team Award: $40,000 divided equally among team members.
• Third Place Team Award: $20,000 divided equally among team members.
• Honorable Mention Awards: $1,000 per student

Eligibility

Students must be current high school seniors attending an Illinois high school and planning to attend a postsecondary institution.

Application Requirements

Each team of students who meets the eligibility requirements will apply by submitting an application package which includes an essay, presentation slide deck and video.

The Business Challenge (Essay/Proposal)

Outline a written business idea that addresses one of the two challenge prompts. Click the buttons below to view the two challenge prompts – one from Roundy’s/Mariano’s and the other from Walgreens – and choose which your team would like to address.

Your idea and narrative should include the following:

1. The Problem: Clearly identify the problem your business solves.
2. The Solution: Describe your proposed business plan, product, or service.
3. Target Market: Who are your customers?
4. Impact: How will your business make a positive impact on your community or the target market?
5. Next Steps: What are the three most critical actions you would take to launch this business plan?

Pitch Presentation Deck Requirements

1. Your pitch presentation deck should be submitted as a PowerPoint or PDF.
2. Limited to 20 slides that include the 5 topics above addressing one of the two challenge prompts presented.
3. Title page should include: IRMA Retail Challenge Scholarship Competition with team member names and high school name.

90-Scond Video Requirements

Create a 90-second pitch video addressing the retail prompt that presents an overview of your business strategy. Your video should be compelling for the retailer to choose your team’s solution and bring your pitch deck to life. Videos can be recorded with a handheld camera, webcam or mobile device. The video should be no more than 90 seconds in length and submitted through the weblink.

Scholarship Terms & Conditions

By submitting this application, the applicant and their parent/legal guardian (if the applicant is a minor) agree to the following terms:

• Award Amount: The scholarship award for each winning team will be divided equally among the team members.
• Use of Funds: The scholarship funds must be used within the first year (12 months) immediately following the applicant’s high school graduation date.
• Qualified Expenses: The funds may be used for any educational expenses at an approved postsecondary institution, which includes, but is not limited to, tuition, fees, books, supplies, and on-campus room and board.
• Postsecondary Institution: An “approved postsecondary institution” is defined as any accredited college, university, or trade/vocational school that grants degrees, certificates, or other recognized educational credentials.
• Disbursement: Funds will be paid directly to the approved postsecondary institution upon presentation of proof of enrollment by the award recipient. If the funds are not claimed (i.e., the student does not enroll) within the first-year post-graduation, the scholarship award will be forfeited.
• Taxes: The award recipient is responsible for any applicable federal, state, and local taxes associated with the scholarship award.

For additional information, please contact Stacey Hubbard, IRMA Retail Challenge Coordinator, at shubbard@irma.org.