News Story

UM $50K Business Plan Competition Opens

The University of Maryland Business Plan Competition, now in its eighth year, has historically awarded $335,000 in prizes to faculty, students, and alumni to launch innovative new ventures. Companies active in the competition have generated millions revenues, grants and awards.

The Maryland Technology Enterprise Institute (MTECH), a unit of the A. James Clark School of Engineering, supports a culture of entrepreneurship at the University of Maryland through a rich set of initiatives. A highlight of the academic year is the University of Maryland $50K Business Plan Competition, held each Spring Semester. The University of Maryland's entrepreneurial thinkers are invited to consider their best ideas and create teams to build those ideas into a company over the course of the academic year. With an official launch in the Fall, with a matchmaking event and subsequent open office hours, as well as increased mentoring to competitors who advance toward the final presentations in May 2008, the competition serves to educate new entrepreneurs and guide them through the process of writing a successful business plan and delivering a successful investor presentation.

The submissions most in line with the competition goals are those by young businesses with substantial growth potential. Ideas can be technology related or non-tech but firms with pervasive concepts and strong potential to dominate a niche market have the greatest chance of achieving high rates of growth and scale. These types of high-potential firms are preferred by the judges.

Visit the competition's web site for more information on how to enter.

December 10, 2007