Baylor-Born Business Wins First Place in Entrepreneur Competition

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March 12, 2013

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Contact: Frank Raczkiewicz, (254) 710-1964

WACO, Texas (March 12, 2013)--A total of $50,000 was awarded to 12 finalists in the second annual New Venture Business Plan Competition held recently at Baylor University's Hankamer School of Business. Over 60 teams from across the country submitted their business plans including teams from Harvard, MIT and many Texas universities.

After several elimination rounds over the course of three months and two final round presentations, the first place trophy of $25,000 was awarded to Vendevor, an e-commerce platform for small businesses that turns the otherwise week-long task of setting up an online store into a 15 minute process that can be completed on a smart phone.

Vendevor entrepreneurs include Charlie Gasmire, Baylor master's candidate from Fredericksburg, and Knoxville, Tenn. native Austin Barnes.

"They are two very sharp individuals who were impressive through all stages of the competition. I wish the best of luck to them as they continue forward as key members of Vendevor," said Wes Nemec, program manager for the John F. Baugh Center for Entrepreneurship in Baylor University's Hankamer School of Business.

"Vendevor is an innovative company addressing a compelling need in the market. We had a lot of great companies enter the competition this year, but Vendevor was a strong contender from the start and really shined during the final presentations. They are headed for great things."

The competition is a single-day, dual-round, business plan competition promoting entrepreneurship and small business development. Underwritten by an anonymous gift to Baylor University and the Hankamer School of Business, it provides students with expert feedback and the opportunity to win prizes to help fund their ventures. The business plan presentations represent the culmination of approximately seven months of team preparation.

For more information on the New Venture Business Plan Competition or the Accelerated Ventures course, contact Nemec at Wes_Nemec@baylor.edu.

by Rebecca Malzahn , student newswriter, (254) 710-6805

ABOUT BAYLOR UNIVERSITY

Baylor University is a private Christian university and a nationally ranked research institution, characterized as having "high research activity" by the Carnegie Foundation for the Advancement of Teaching. The university provides a vibrant campus community for approximately 15,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating university in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 11 nationally recognized academic divisions. Baylor sponsors 19 varsity athletic teams and is a founding member of the Big 12 Conference.

ABOUT HANKAMER SCHOOL OF BUSINESS

Baylor University's Hankamer School of Business provides a rigorous academic experience, consisting of classroom and hands-on learning, guided by Christian commitment and a global perspective. Recognized nationally for several programs, including Entrepreneurship and Accounting, the school offers 24 undergraduate and 13 graduate areas of study. Visit www.baylor.edu/business and follow on Twitter at twitter.com/Baylor_Business.

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