Seventh Annual Undergraduate Business Plan Competition Underway

Got the next big idea? Think you might have an entrepreneurial streak? Like challenges and the chance to make an impact?

If so, the Anderson Center for Entrepreneurship and Innovation invites you to enter the seventh annual Undergraduate Business Plan Competition. The center is housed in the College of Business Administration.

The deadline for submission is February 24. All undergraduate students on the Knoxville campus—from any college and from any discipline—are eligible.

In an effort to strengthen the entrepreneurial culture and spirit of the university, the competition encourages participants to enhance their understanding of new venture creation; polish their communication skills by presenting ideas to investor-judges; and network with successful local entrepreneurs, business owners, and venture capitalists.

The 2014 competition is offering awards in two categories: technology-enabled growth businesses and lifestyle businesses.

Technology-enabled growth businesses have the potential for significant national and international expansion; lifestyle businesses typically remain local to a specific regional area. The top three plans in each category will win $5,000, $3,000, and $2,000, respectively.

Students can work individually or in teams of up to four people. The competition encourages students with both technical and commercial skills to come together to build strong, well-rounded teams.

For more information, visit the Anderson Center for Entrepreneurship and Innovation ‘s website.

Important dates in the competition:

• February 24: Deadline for concept summary to be submitted to the Anderson Center for Entrepreneurship and Innovation. E-mail submissions to cei@utk.edu, Attn: Undergraduate Business Plan Competition. Requirements for concept summary and other information are available at the competition website mentioned above.

• March 7: Ten semifinalists in each category will be notified.

• March 14: Each semifinalist will make a fifteen-minute presentation and take five minutes of questions from the judges. Semifinalists must also prepare five bound copies of their business plan to be left with the judges for their review.

• March 19: The five finalists in each category will be announced.

• March 28: During the final round of judging, each finalist will make a five-minute “final pitch” (no sales or visual aids allowed) and then take twenty minutes of questions from the judges.

• April 7: Winners announced.

• April 14: Awards presented.

The judges will include UT educators, local entrepreneurs and business professionals, and individuals such as venture capitalists and bankers who support the entrepreneurial community.

CONTACT:

Tom Graves (865-974-6131, tgrave10@utk.edu)

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