University of Evansville Business Plan Competition Names Finalists

Press Release

The University of Evansville has named 12 finalists in the second annual Evansville New Venture Creation Competition (ENVCC), an event in which teams of undergraduate college and university students from throughout the nation, compete for money to fund their business ideas. First place prize is $10,000; second place, $5,000; third place, $2,500, and a special audience favorite award.

The event is planned for April 20 at 11 a.m. in Shanklin Theatre at UE and is free and open to the public. The student business owners will present business plans to a board of investors (judges) comprised of area business executives and investors. The competition judging is based on the quality of the business plan and the presentation. Student teams are also judged on the feasibility of the business. A variety of prizes will also be awarded to those in the audience who help choose the “audience favorite” award and respond to electronic questions posed by Audience Response Systems Inc. following each presentation.

Finalists are:

The Silver Tulip Belmont University

River Rock Media Group Belmont University

IUSIFE Indiana University-East

Pink Polo Entertainment Belmont University

Tiergian Technologies Taylor University

CollegeVita.com University of Evansville

Naturally (Healthy Foods) Northern Michigan University

Bailey’s Beads University of Evansville

Brighter Energy Texas Christian University

The Book Zone University of Evansville

Tanks & Airplanes Belmont University

Orchid Inc. Belmont University

The mission of the ENVCC is to identify and encourage entrepreneurship in the Evansville area that will result in business development; provide a positive educational experience for students; and to expose their business ideas to venture capitalists, angel investors and business executives.

“This is a great opportunity for undergraduate students to learn what it is like to see if their ideas have what it takes to succeed in the entrepreneurial marketplace in front of a panel of veteran investors,” said Pete Sherman, assistant professor of management at UE and professor of the Fundamentals of Entrepreneurship courses at UE. “In addition to the funding, the winner will also have the opportunity to present their ideas at the Midwest Venture Club and the Small Business Development Center.”

Harvard and Stanford University researchers have shown that nothing generates more jobs, exports and tax revenue per dollar invested than dollars invested in entrepreneurial high-tech start up companies, according to a white paper by the Midwest Venture Club.

“University activities and college student businesses are great launching pads for successful, high growth companies, said Bob Myer, co-founder of the Midwest Venture Club and entrepreneur-in-residence at UE. “Michael Dell comes to mind as having started a pretty successful business from his dorm room while still in college. The educational value and experiential value that students gain by planning for and operating actual businesses as part of their education are huge."

The ENVCC is co-sponsored by the University of Evansville, Old National Bank, The Chamber of Commerce of Southwest Indiana, Indiana Small Business Development Center, Fox 7, Midwest Venture Club, Innovation Pointe, and Ism Education Loans.

The University of Evansville is a private, United Methodist Church-related, comprehensive university that is a member of the Associated New American Colleges. UE celebrates more than 150 years of civic mission and sacred trust, providing life transforming educational experiences that prepare students to engage the world as informed, ethical and productive citizens.

Source: University of Evansville