How much is an idea worth? The Marriott School’s Center for Entrepreneurship thinks its worth $5,000 in cash — the award for this year’s Business Plan Competition winner. All Brigham Young University students are invited to submit business plan ideas before 5 p.m. on Monday, 12 March in 610 TNRB.
“We’re looking for the next success story,” said Donald H. Livingstone, Director of BYU’s Center for Entrepreneurship. “Some of the best business plans come from non-traditional sources. We invite all students to participate.”
Individuals or student teams may enter the competition. Business plans are not to exceed 20 pages in length, double-spaced and are to be original work. A panel of Center for Entrepreneurship faculty members and founders will judge business plans according to originality, viability and completeness. The top three business plans will then be presented at the Entrepreneur Founders’ Spring Conference on Friday, 30 March for final selection. The winning business plan will receive a cash award of $5,000 with second and third places receiving $3,000 and $2,000 respectively.
“Several of our past winners of this competition have gone on to build multi-million dollar companies,” Livingstone said. “The cash award is great capital to get a business running.”
Jonathan Coon of 1-800-CONTACTS placed first in the competition in 1995. Today, his business is the world’s largest direct-to-consumer contact lens company. In four years, company sales rose from $3.6 million to $100 million annually.
Guidelines for the competition may be viewed at marriott.byu.edu/cfe/Contests/Guidelines.htm
The Center for Entrepreneurship at BYU’s Marriott School was established in 1989 to encourage and support students in understanding how to successfully start and open business ventures and to advance entrepreneurship internationally. Courses in entrepreneur principles, practical experiences and case studies are taught by faculty and practicing entrepreneurs.
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Writer: Carrie Beckstead (801) 378-1512
