Many business ideas are first pitched in the back of a limo. Rarely are
those doing the pitching college undergrads. Even more rarely are the
limos racing around the most famous racetrack on Earth. But when The
Ball State Entrepreneurship Center hosts their second annual Nascent 500
Business Plan Challenge at the Indianapolis Motor Speedway on March 28,
2008, that’s exactly what will happen.
The Nascent 500 is open to undergraduate students from across the
country and teams compete for a $10,000 grand prize. Premier Capital
Corporation will act as the Winner’s Circle
sponsor for the event, providing the prize money. To apply to compete in
the Business Plan Challenge, a student or team of students must submit a
business plan for an entrepreneurial venture. Twelve student teams will
be selected to move on to the qualifying round at the Indianapolis Motor
Speedway. During this round, each student team will have 500 seconds to
pitch their ideas while traveling around the Speedway in a limousine.
Four teams will then be selected to move on to the “Homestretch”
round, where they will each give a 15 minute presentation. Each of these
four finalists will receive a cash prize. The grand prize winner will
receive $10,000, a fast lap around the Speedway, and a quart of milk.
“The Nascent 500 Business Plan Competition is
a great opportunity and experience for all participants –
students and judges alike,” said Ball State
Entrepreneurship Center Director Dr. Larry Cox. “The
students gain experience in preparing and presenting a business plan,
and they’re also able to interact with and
receive advice from successful entrepreneurs. The judges have the
opportunity to observe and coach some of the brightest young minds from
across the country and to participate in this unique event.”
Last year’s winning team was Effiventa
Corporation, from the University of Manitoba. The two students on this
team presented a business plan for an early stage drug delivery company
specializing in nanotechnology. The teams who have been accepted to
participate in the competition this year come from the University of
Michigan, University of Central Florida, University of Manitoba, Ball
State University, Western Carolina University, University of Saint
Francis, University of Houston, Illinois Institute of Technology,
University of Wisconsin-Madison, Vanderbilt University, Illinois State
University and Grove City College.
About the Ball State Entrepreneurship
Center
The Entrepreneurship Center at Ball State University has been achieving
top national rankings since it was founded more than 20 years ago, and
the program has become well known as the "ultimate entrepreneurial
experience." The Center’s undergraduate
program has consistently ranked among the best in the nation for more
than 10 years -- including a number four ranking in 2004 by U.S. News
& World Report. Risk, innovation, and passion are at the heart
of the remarkable success of Ball State University's Entrepreneurship
Center and its graduates. Ball State has established a solid position at
the forefront of entrepreneurial education, research, and innovation,
with a commitment to outreach and research through the Entrepreneurship
Center and as the co-administrative site for the National Consortium of
Entrepreneurship Centers.
About Premier Capital Corporation
Premier Capital Corporation is a 501C(3) private, not-for-profit
corporation founded in 1976. The Near Southside Community Development
Corporation preceded Premier Capital and provided management assistance
to enable economic development and growth in the near south side of
Indianapolis. Over the years, Premier Capital Corporation’s
market area grew to encompass Marion and the surrounding counties, and
is now statewide in Indiana. Premier Capital is approved as a “Certified
Development Corporation” by the U.S. Small
Business Administration. Premier Capital participates with banks to
provide long term, fixed rate financing for the purchase of fixed
assets. Funding is provided by the issuance of debentures (bonds), which
are guaranteed by the U.S. Government and sold in the public bond
market. Since the inception of the 504 program in November 1986,
approximately $47 billion in debentures have been issued assisting
104,000 small businesses to create or retain approximately 2.1 million
jobs. For more information please contact David W. Amick, Executive
Director at (317) 974-0504.
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