Fall Business Plan Competition to Get Underway
JONESBORO — All students, both undergraduate and graduate, are eligible for the ninth annual Fall Business Plan Competition hosted by Arkansas State University’s College of Business. Winning proposals will receive rewards from a total cash prize package of $5,000.
Dr. Shane Hunt, dean, College of Business (left) and Dr. Erick Chang, associate professor of management, join participants in the 2015 Arkansas State University Business Plan Competition with a Wolves Up sign.
“We have invited other universities in the area to join this year as we are opening the competition to students enrolled in other places as our goal is to be an initial stage to those teams willing to participate in the 2017 Governor's Cup,” said Dr. Erick Chang, associate professor of management.
To enter the competition, students need an innovative business idea and plan, and need to document it in no more than two pages. Entrants are allowed to work in teams of up to six people. Also, an elevator pitch competition is available, as well as a freshman category.
Competition for the freshman first round in slated for Monday, Oct. 3. One copy of the business plan proposal, along with a completed entry form, is due by email to echang@AState.edu by 5 p.m. Thursday, Oct. 6. Entry forms may be accessed through http://www.astate.edu/college/business/.
All written proposals will undergo judging from Oct. 7-18, and finalists will be notified by email by 5 p.m., Tuesday, Oct. 18. Freshman elevator pitches are judged Oct. 19-27, and submission of revised business plans up to 10 pages are due by 5 p.m.
Winner of the business plan will be awarded $1,000, freshman competition winner receives $600, the recipient for the most innovative idea wins $400 and the live elevator pitch winner gets $250. Secondary prizes are also available for business plan finalists, freshman competition finalists and faculty advisers.
Chang related that judges from Europe, Asia, Latin America and other parts of the U.S. have committed to serve in the competition. Final competition is set for Thursday, Nov. 10 in the executive board room in the Delta Center for Economic Development, second floor, 319 University Loop Circle.
In April 2015, Arkansas State student teams brought home $35,000 in winnings after advancing to the prestigious 15th annual Donald W. Reynolds Governor’s Cup collegiate business plan competition at the Statehouse Convention Center in Little Rock.