Applications Now Open for 8th Annual Baylor New Venture CompetitionSept. 5, 2018
By Ally Peters
It’s more than a business plan competition.
Applications are now available for teams interested in participating in the 8th annual New Venture Competition, a two-day entrepreneurial business plan and elevator pitch competition hosted by Baylor University’s John F. Baugh Center for Entrepreneurship and Free Enterprise.
The competition will take place February 22-23, 2019 and includes a business plan competition and an external elevator pitch competition for visiting teams. This year, there will be an additional internal elevator pitch competition exclusively for Baylor teams.
More than $250,000 will be distributed among the winners of the competitions, with the winning team of the business plan competition receiving $50,000 plus in-kind awards to support their start-up business.
“We offer cash prizes, but we really focus on mentorship and coaching so that the businesses that are submitted are successful going forward,” said Priscilla James, the program manager for the competition. “The spirit of the competition is to foster both personal and professional development.”
The competition is open to teams of 2 - 4 members and may consist of undergraduates, graduates, post graduates and recent graduates. Interested teams must apply by submitting a two-page executive plan and online application by October 1. A panel of industry professionals will select the top 50 teams to submit a 10-page business plan. Each of these plans will be judged, and the top 10 finalists will be invited to participate in the competition in February.
These top teams will also be able to participate in a Business Showcase. James described this event as a gallery-style showing in which each team will set up a display of their information and prototype to foster greater networking opportunities with other entrepreneurial teams, competition attendees, and business professionals.
The top 10 teams will receive additional benefits of mentorship, business plan coaching, and feedback sessions to refine their business plan in the days and weeks leading up to the competition. Guidance is provided through partnerships with industry experts, successful entrepreneurs, angel investors and entrepreneurial faculty members.