Governor's Cup Seeks Students With BIG Ideas

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Governor's Cup Seeks Students with BIG Ideas

Courtesy of
Arkansas Economic Acceleration Foundation

LITTLE ROCK – Are you one of the college students on campus with BIG ideas? If so, here is a great business opportunity you.

Arkansas' undergraduate and graduate-level student entrepreneurs have a chance to participate in a competition that is not only filled with great learning potential, but also with the prospect of winning a share of $104,000 in prize money. Now in its sixth year, it is officially known as the Donald W. Reynolds Governor's Cup, Arkansas' premier statewide business plan competition for college students. Arkansas Economic Acceleration Foundation, an affiliate of the Arkansas Capital Corporation Group, manages the competition, with funding by the Donald W. Reynolds Foundation.

"We are very excited to give undergraduate and graduate college students the opportunity to put their great ideas into a viable business plan – and then reap an additional cash benefit if they win the competition," AEAF President Sam Walls III said in making the competition's announcement. "Our organization will review the entries and select six business plan finalists. Each finalist will be paired with a professional mentoring team to 'fine-tune' the plans, hopefully producing the best presentation packages possible and providing an invaluable, real-life experience for the team."

First-place team winners take home a $20,000 prize; second place winners receive a $10,000 prize and third place winners receive a $5,000 prize. All of the winning teams' faculty advisers will win $1,000 as well. In addition, there is a $5,000 prize for the team with the "Best Business Plan Involving Technology."

To be eligible for the Technology Award, a team's plan must include the commercialization of new technology, or a new application of an existing technology focused in specific areas. These areas include advanced materials; agriculture, food production or processing; life sciences, biotechnology and bioengineering; environmental; manufacturing systems; transportation and logistics; information technology; application of technology in the production or distribution of industrial consumer goods; or application of technology in retail or service business.

The competition is an opportunity to bring all of the resources together to help advance promising entrepreneurs in Arkansas. Ideas for groundbreaking research, emerging technologies and successful high-growth companies may lurk in the classrooms of Arkansas' four-year colleges and graduate schools. This competition intends to find those students with ideas and send them a message that the resources to succeed in business are available to them right here in Arkansas.

"The Governor's Cup 2006 will inspire student entrepreneurs," Walls added. "They will gain access to networks of successful entrepreneurs, lenders and investors, teambuilding and planning skills, and media exposure."

There are no fees to participate. To get involved in the competition, students must register by the Feb. 15 "Intent to Compete" deadline. All of the necessary background information (including contacts, competition timetable and 2006 sponsors) is available at www.dwrgovernorscup.org or by calling 1-800-216-7237 or 501-374-9247.

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