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Students Pitch Ideas at the Indianapolis Motor Speedway in the Nascent 500 Business Plan Challenge
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 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.
Dittoe Public Relations
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