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Orangeburg, SC (WLTX) -- Some students at Claflin College got a chance to jump into the business "shark tank".

Eleven teams of students from Claflin University presented their business proposals and ideas at the school's first ever entrepreneurship business competition.

An idea that loosley resembled a popular television show called "Shark Tank" that put people with ideas infront of people with money who could help make their ideas a reality.

Students outlined plans, offered prototypes, and showcased their marketing skills for a panel of judges.

First prize in the competition receives a $5,000 award.

The 'Rich Icons' was one of the teams vying for the cash award.

"We always like to give back," said Angelo Hornsby, of "The Rich Icons" one of the three members of the group. "We always like to help others," he said as the reason they decided to make the clothing line.

They wanted to "have a nice style and give back," Hornsby said.

Nathan Walker and Michael Parson, the other members of the group, also said they planned to pass along 10 percent of their sales to charities.

They said the $5,000 would help them fund their venture. Currently, they are relying on donations from friends and family members, as well as by earning money doing various odd-jobs.

There were also investors from different companies in attendance, according to Claflin University's Interim School of Business dean, Dr. Tara Saracina.

Saracina said the names of the companies represented are confidential

"The real takeaway is that idea," Saracina said. "Don't be afraid to take that idea and really run with it, because you never know where you can go with it."

Adam Pratt and Kaitlyn White were hoping the investors would buy into their wheat grass energy drink concept.

"We primarily want to start putting them in gyms and health food stores, and stores like CVS and Walgreens," White said.

Ultimately, the $5,000 prize went to a group of technology aficionados named 'Instaprinz' with an idea that would allow you to print from your cell phone.

The total amount of prize money given out is $10,000.

Second place was given $3,000, third was given $1,200 and fourth and fifth places were given $500 and $300, respectively.

This was the first year the school held the event and they are planning to bring it back next year.

The event kicks off a week of events as Claflin celebrates it's third annual business week.

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