Collegiate business plan competition offers incentives for Oklahoma students
BYLINE: David Page
In 2005, business leaders from Oklahoma, Arkansas and Nevada developed the Donald W. Reynolds Governor's Cup Collegiate Plant Competition to create a culture of entrepreneurship.
This year's competition will include extra financial incentives.
Prizes for the competition total $230,000, nearly double the amount available last year.
The $230,000 includes $150,000 in cash and in-kind awards for the state competition and $80,000 for the tri-state competition. Cash awards at the state competition include $20,000 for first place in the graduate and undergraduate divisions, $10,000 for second place in both divisions and $5,000 for third place.
Oklahoma students have an additional economic incentive. The Oklahoma Business Roundtable has established a $5,000 scholarship to be awarded annually as part of the state competition. The winner will be announced at the awards presentation program on April 24 in Oklahoma City.
For the scholarship competition, Oklahoma students advancing as Governor's Cup semifinalists will answer three entrepreneurial questions.
Five student finalists for the scholarship will be selected based on the answers and interviewed by a panel of business leaders from the Oklahoma Business Roundtable.
Faculty-sponsored, full-time and part-time undergraduate and graduate students enrolled at any Oklahoma university or college are eligible to compete in the fourth annual Donald W. Reynolds Governor's Cup collegiate business plan competition.
Business plans in the competition must address the entire business concept, including seed, startup or early-stage venture. The state's 2007 winning graduate team was from the University of Oklahoma, and the winning undergraduate team was from the University of Tulsa.
"Teams from past years have demonstrated the skill to act upon their ideas to promote the development and commercialization of technologies being discovered today in our universities," said Greg Main, president of i2E, the firm that manages the Oklahoma competition.
"Through the Governor's Cup, we are communicating a message to these students that it is possible to turn innovations into successful homegrown businesses within our state and that their efforts will be recognized. "
March 7 is the deadline for intent-to-compete forms and March 14 is the deadline for written business plans. Oral presentations are scheduled April 11-12. More information is available at www.okgovernorscup.com or by calling Sarah Seagraves at (405) 813-2403.
The tri-state competition will include undergraduate and graduate first and second place winners from Oklahoma, Arkansas and Nevada.
The event is scheduled May 13-15 in Las Vegas. Cash awards for the tri-state event are $25,000 for first place and $10,000 for second-place teams. Faculty advisors will receive $2,500 per winning team.
Governor's Cup sponsors for 2008 include AT&T, American Fidelity Assurance, Chesapeake Energy, Chickasaw Nation, ConocoPhillips, E.L. and Thelma Gaylord Foundation, ETI Technologies Inc., Greater Oklahoma City Chamber, OG&E, Oklahoma Business Roundtable, Oklahoma Center for the Advancement of Science and Technology, Oklahoma Department of Commerce, Oklahoma EPSCoR, Oklahoma State Regents for Higher Education, Oneok, Presbyterian Health Foundation, Stillwater National Bank, the University of Tulsa and University of Oklahoma Office of Technology Development.
Innovation Award sponsors are Isocentric Networks, Jordan Associates, Oklahoma Business Roundtable and Tomlinson & O'Connell.
Other event sponsors include the Oklahoma Quality Award Foundation for the Tech Night Out reception; Oklahoma Business Roundtable for the Oral Competition reception and Panera Bread for the Oral Competition luncheon.