New Venture Challenge Increases Prizes and Widens Competitor Field to Include All Texas Students and AlumniOct. 3, 2012
Students are back and classes have resumed -- you can feel the excitement of another school year all over campus. It's also that time of year when student competitions ramp up again.
It's the second year for Baylor's New Venture Challenge, a two-day, dual round business plan competition and elevator pitch promoting entrepreneurship and small business development. The competition, underwritten by a generous anonymous gift to Baylor University and the Hankamer School of Business, provides students with expert feedback and the opportunity to win part of over $50,000 in cash prizes - the elevator pitch competition on Friday night provides three additional prizes of $1000, $500, and $250 for the top 3 presenters to help fund their ventures.
Submissions should be for ventures that are early stage, for profit, seeking investment capital and preferably be in the cloud, mobile, internet, e-commerce, social networking or gaming industry. Student teams must hold management positions within the venture or have a 25% combined ownership in the company.
Teams may be composed of two to four current full-time undergraduate or graduate students. Recent graduates may also participate as long as they have matriculated within the past 15 months. All team members must be present during the entire competition to be eligible for prizes. New this year, the competition is open to all Texas accredited institution students and alumni.
Teams that make it to the final round will compete for a grand prize of $25,000. Each presenting team is only eligible for one prize and each student can only participate on one team.
Awards for the top 3 prizes will be:
- 1st Place - $25,000
- 2nd Place - $10,000
- 3rd Place - $5,000
- Honorable Mention - $1,000
"Baylor Entrepreneurship is providing support for students entering into the hottest entrepreneurial industries and we look forward to the great companies that will emerge," said Kevin Castello, Director of the Baylor Angel Network. "The level of talent available in these arenas and the opportunity for paradigm-shifting innovations is truly exciting. We are pleased to be able to partner with such great entrepreneurs."
The New Venture Business Plan Competition will kick off this month with information meetings, campus-wide promotion and training sessions. Executive summaries will be due at the end of November and the deadline for business plans will be January 4, 2013. The multi-phase competition will culminate on March 1-2, 2013, with final presentations.
For more information about the competition, see the Baylor New Venture Business Plan Competition website or e-mail questions to [email protected].
Support Early Ventures. Promote Your Business. Increase Your Impact.
The New Venture Competition is one of three early venture programs aimed at developing the entrepreneurial spirit of students. Review the early venture program sponsorship opportunities and contact Kevin Castello at [email protected] to find out how you can get involved and impact the economy by supporting new ventures.