February 14, 2014
Colleges and entrepreneurs gear up for Albany-area business plan competitions
By: Megan Rogers
Source: The Business Review
Don Siegel teaches an introductory undergraduate course on
entrepreneurship at the University at Albany, which covers intellectual
property, business plan development, venture financing and the economics
But the most critical entrepreneurial skill is the right mindset, said Siegel, dean of UAlbany's School of Business.
most important thing is how do you identify an opportunity? That's what
we start with," he said. "If you're going to do something
entrepreneurial, it has to be something different."
mindset embraced by students at area colleges and universities, where
students are gearing up for several university and statewide business
plan competitions. Here's a look at the upcomping competitons:
26: Rensselaer Polytechnic Institute in Troy’s business model
competition requires teams to present a business plan for a product,
service, process or technique in ten minutes. The winning team earns
more than $15,000 and in-kind services. All entrants receive feedback
from judges and coaches.
The 2013 winning undergraduate team
developed a customizable vacation and travel planning website; The
winner of the graduate student category presented a plan to create light
fixtures that serve as environmental disinfection systems.
11: The final six teams in Skidmore College's Kennith A. Freirich
Business Plan Competition have plans to launch an organic farming
enterprise, a luxury rum brand and lacrosse apparel company, among
others. The teams compete for $20,000 on April 11. Skidmore is a private
liberal arts school in Saratoga Springs.
April 3 and April 25:
Ten regional semifinals in the fifth annual New York Business Plan
Competition send winning teams to the final round of the statewide
competition on April 25 at the College of Nanoscale Science and
Engineering in Albany.
The Albany regional competition, hosted by
the nanocollege, University at Albany's School of Business, Hudson
Valley Community College and Skidmore College, is scheduled for April 3.
Last year's winning team presented a business plan for WordsEye, a
software system that creates 3-D scenes from verbal descriptions.The
competition fielded 88 presentations. Click here to meet some of the
entrepreneurs who competed.
May 21: Rensselaer Polytechnic
Institute hosts a business plan competition for high school students.
Similar to the undergraduate and graduate competition, teams have ten
minutes to present a business plan.