Soelter won an earlier business competition and used her prize money to buy her first griddle, and Thursday, she said she was hoping to increase production with a second griddle, a $750 purchase. The feedback from the judges was helpful, she said, mostly because she heard advice about how to scale her business.

"When you're working on starting a business, it's easy to get caught up in the very beginning stages and not look to the future," she said. "Today has helped me realize it's a long journey."

The startup competition brings business leaders and aspiring entrepreneurs together, and one judge said it allows her to give back to the community that's supported her own endeavor. Michelle Huie launched VIM & VIGR, a compression legwear company, three and a half years ago.

Now, the compression socks are in 850 retailers nationwide and sold in Canada, Hong Kong and Japan. Huie didn't get there alone, she said, and she was judging for the first time as a way to "pay it forward."

"I think Missoula has such a great entrepreneurial community, and I want to support what the university is doing with ... young entrepreneurs," Huie said.