News

March 23, 2010

Entries Sought For Tech Valley Business Plan Competition

By: by Inside Rensselaer

Source:

This spring, the Lally School of Management & Technology, in partnership with the College of Nanoscale Science & Engineering at the University at Albany, Albany's School of Business, and Union Graduate College School of Management, will be hosting the first area business plan competition focused on renewable energy and sustainable innovations.

Current students from area accredited colleges and universities are invited to submit a business plan based on a student-developed innovation that is designed for a currently unmet need. The innovative idea can be in any early stage of development, from idea to prototype - it just may not be a product or service that is already commercially developed or on the verge of doing so. A panel of reviewers will choose the top plans and invite the teams to participate in the final round.

The application deadline is Friday, March 26.
Prior to submission, students may have their business plans reviewed
by the Severino Center and executives who are part of the center's Entrepreneurs in Residence program.

"This competition will encourage students to fully engage in their research projects, and will allow them to gain valuable experience through presenting their business plan to industry executives and investors," said Jean Howard, associate director of the Severino Center for Technological Entrepreneurship at the Lally School. "The Lally School and Severino Center are in the business of fostering entrepreneurship. This year, it seemed fitting to expand our annual collegiate business plan competition and partner with the area colleges and universities. By creating multidisciplinary teams, students from different departments within a college or university can take advantage of this unique experience."

The application deadline is Friday, March 26. Prior to submission, Rensselaer students may have their business plans reviewed by the Severino Center and executives who are part of the center's Entrepreneurs in Residence program. To schedule an appointment, contact Jean Howard at mailto:howarj6@rpi.edu.The.The final competition will be held on Wednesday, April 28, at the College of Nanoscale Science & Engineering. The top teams will present their business plans to a panel of investors, scientists, and energy industry executives. Following the final presentations, a celebratory reception will held for all of the participants, while the judges' scores are tallied. At the conclusion of the reception, the top three winners will be announced and prizes will be distributed.

The three best-rated teams will earn a prize, with the first place winner receiving $10,000.

For nearly six years, the Lally School has hosted the annual Tech Valley Business Plan competition. The competition is one of several initiatives sponsored by the Severino Center to integrate educational and research programs that would expose Rensselaer students to the practices and principles of entrepreneurship, among others.

For more information regarding the Tech Valley Business Plan Competition, visit www.neny.org/competition/2010/home.