College of Business To Host Fall 2014 Business Plan Competition
JONESBORO, Ark. — Competition for the Fall 2014 Business Plan Competition, hosted by Arkansas State University’s College of Business, is open to all students, both undergraduate and graduate. Additionally, a live elevator pitch and a new freshman category have been added to the competition.
“This is the seventh year we’ve done the Business Plan Competition,” said Dr. Erick Chang, associate professor of management. “Our students have had tremendous success throughout the years with taking original ideas and writing their plans. Entrants don’t have to be business majors. All you really need is a great and innovative idea and be able to write it down in no more than two pages. I have preliminary information that we may have more than 250 students. This will double our record of participation set last year.”
One copy of the business plan proposal along with a completed entry form is due by email to Chang at firstname.lastname@example.org by 5 p.m., Thursday, Oct. 2. More information is available on www.facebook/ENTAsu.
Judging of all written proposals is Oct. 4-15 by a panel of judges comprised of A-State alumni, faculty, and entrepreneurs living in the U.S. and abroad. The A-State business plan competition is one of the few competitions that include judges from different parts of the world such as Asia, Europe, and Latin America.
The freshman category is involving students enrolled in the First Year Experience who will be submitting proposals related to businesses that can assist in emergency situations. They will display posters during the Zeitoun Fair that will be held in the Student Union on Wednesday, Oct. 8. The top 10 freshman entries will record a 90-second video elevator pitch for the final round.
In the business plan categories, finalists in the graduate and undergraduate categories will deliver a 10-minute oral presentation on Thursday, Nov. 6, in the executive board room located on the second floor of the Delta Center for Economic Development, 319 University Loop West, from 9 a.m. to 12 p.m. In addition, invitations will be sent to 10 teams (graduate and undergraduate) that do not advance to the final round to deliver a 60-second live elevator pitch from 12-12:30 p.m. During judging deliberations, representatives from Arkansas Capital will sponsor a session to invite teams to participate in the 2015 Donald W. Reynolds Governor’s Cup.
Total prizes of $1,800 will be awarded to the winners in the different categories. In the business plan categories, winners will receive $300 for first place and $200 for second. The elevator pitch winner will receive $100. An innovation award of $200 will be given to the team who can present the most innovative idea for a product or service. In the freshman category, winners receive $250, $150 goes to second place, and $100 for third-place.
Prior winners of the A-State business plan competition has successfully competed in the Donald W. Reynolds Governor’s Cup where A-State students have won $11,000 since 2007.