The people behind the competition's 2008 winner received $7,000.

Press Release

Upland, Ind. – Taylor University’s Center for Research and Innovation (CR&I), with sponsorship from the Innovative Network and the Grant County Economic Growth Council, is hosting the fifth annual 2009 Taylor University Business Plan Competition oriented to the residents of East Central Indiana, including students and faculty at the region’s universities and colleges.

According to Dr. Mick Bates, director of the Innovative Enterprises Program of the CR&I, the purpose of the competition is to imbue the spirit of entrepreneurship within the community through a professional competition designed to reward the ideas with the greatest commercialization potential with cash and/or services prizes.

The competition is targeting businesses or potential businesses operating within the Taylor University campus area of influence encompassing Grant, Blackford, Delaware, surrounding counties, and the State of Indiana. Based upon past competitions, Bates said he believes there will be entrants from the regional community, universities, and even as far south and west as Evansville. The long-term objective is to spur entrepreneurial growth that will generate significant job opportunity for area residents.

Entrants have the opportunity to submit their ideas/inventions in a phased approach for evaluation by a panel of judges composed of academic and business professionals. Entrants who qualify as finalists will be invited to a 30-minute meeting consisting of a 15-minute maximum presentation of the business idea to the judges and a 15-minute period to field questions. Critical dates for the 2009 competition include:

- Registration/Overview Due: 2/13/09

- Semi-finalists Announced: 2/23/09

- Business Plan Due: 4/13/09

- Finalists Announced: 4/28/09

- Finalists Presentation Date: 5/7/09

For more details, visit the competition website: http://www.taylor.edu/cri/iep/businessplan/.

The CR&I, Taylor Entrepreneurship Club, and the Innovative Network are soliciting other educational institutions, local businesses, and organizations to help sponsor and support the competition. Last year’s winning team, The Lemon Toad (Kris Gruppe and Kim Smith) headquartered in Muncie, Ind., used the prize money to launch their initial season of custom sorority wear at many Indiana universities. For more information regarding sponsorship, support opportunities and entry, call or email Mick Bates.

Taylor University’s Center for Research and Innovation (www.taylor.edu/cri) was established in 2004 through a grant from the Lilly Endowment, Inc. to amplify the talents and passions of students and faculty through innovative research, entrepreneurship, and partnerships resulting in the invigoration of the local community and impacting the world.

The Innovative Network’s (extension of the Grant Count Economic Growth Council) mission is to stimulate and support an entrepreneurial environment and to develop a support system for the advancement of high growth ventures in Grant County. Since inception the Innovative Network has initiated new internship programs, technology studies, and entrepreneurship training opportunities.

Source: Taylor University