UNIVERSITY OF IDAHO RESEARCH PARK TENANT OFFERS $10K PRIZE FOR BEST HIGH-TECH BUSINESS PLAN IN STATE

The University of Idaho issued the following news release:

Idaho TechConnect, Inc. (ITCI) will provide $10,000 to start or grow one very competitive entrepreneurial company in Idaho. In addition to the prize monies, presenters will receive valuable feed back from venture capitalists, angel investors, conventional financiers and other successful entrepreneurs on their business plans.

The winner will be chosen at "TechLaunch 4.0," to be held in Boise at the Oxford Suites, 1426 Entertainment Ave., July 11 and 12. Applications must be received by 5 p.m. on Friday, June 8. Attendance at preparatory seminars is required to compete.

Each of the four regional TechConnect offices around Idaho will conduct a regional qualifying round for entrepreneurial companies. Those in North Idaho must attend one of three seminars to be held May 31, 1-2:30 p.m. or 6-7:30 p.m., or June 2, 9-10:30 a.m. at the University of Idaho Research Park, 721 Lochsa St. in Post Falls.

ITCI is a science and technology focused business development organization for start-ups and early stage technology ventures for the State of Idaho, and is housed at the University of Idaho Research Park in Post Falls. The company helps identify resources that improve the speed and probability of success for these business ventures.

Seminars offered at the Research Park will allow participants to meet the requirements of the competition, which include: creating a business plan, presenting the plan, and preparing and presenting an elevator speech promoting their business.

Approximately eight companies will be selected for the final round of the TechLaunch 4.0 competition in Boise. There, participants will present and promote their business plans to a panel of judges - representing an array of financing institutions and organizations - who will provide feedback.

Since 2003, 23 companies have competed at TechLaunch. Those businesses have gone on to raise more that $15 million in research and development and investment funding.

"We believe the process of preparing a solid business plan, and learning how to effectively promote it, has played a role in the financial success not only of the winning entries, but of all those who participate," said Hank Artis, director of ITCI North.

Artis also serves as a Vandal Innovation & Enterprise Works (VIEW) adviser. VIEW is a University of Idaho initiative to develop an interdisciplinary entrepreneurship program. VIEW focuses on supporting the creation of new businesses, technology transfer, non-profits, sustainable products, and technology and community development.

"There is an open exchange of expertise between the University of Idaho and Idaho TEchConnect North," said Artis. "That partnership strengthens our network's ability to support emerging businesses in Idaho, a goal that is shared by the university, its VIEW program and its researchers housed at the Post Falls Research Park."

For information and applications on TechLaunch 4.0, contact Henry Arits at (208) 262-2039 or at hank.artis@idahotechconnect.com. For additional information on Idaho TechConnect, go to www.idahotechconnect.com.