Friday, November 09, 2007 - National Business Idea Competition

The $1000 National Business Idea Competition
Are you an entrepreneurially-minded student at a top university? Have you considered
launching a startup based on one of your own ideas?, an online resource for the most promising entrepreneurial
university students across the country, is launching The National Business Idea
Competition – as a prelude to its larger-scale National Business Plan Competition
expected to be launched in 2008.
The $1000 National Business Idea competition will allow entrepreneurial students at
select universities across the country to submit 250-word descriptions of various
startup ideas, which will in turn be considered for a cash prize. Participants need not
be working on their startup at present in order to join, although current entrepreneurs
are especially invited.
Each student may submit up to five business ideas to be considered in the
competition, which will be hosted directly through
Participants in the competition will automatically become members of at no cost, and will thus become eligible to enter the largerscale National Business Plan Competition in 2008.
Summary (see complete Rules on next page):
To enter the contest, students and alumni who meet the Eligibility requirements (see
next page) must submit a brief application for membership at Upon acceptance as a member, they will have the
opportunity to create a profile and to post a description of their business ideas in the
“Idea Bullpen” section of the website. All entries of less than 250 words that are
submitted before January 15, 2008 will be considered in the $1000 National Business
Idea Competition, and the winners will be announced on January 30, 2008. The
larger-scale National Business Plan Competition is expected to launch shortly
thereafter, and all participants in the Business Idea Competition will be automatically
eligible to participate. Entry is free.
About: connects the most promising student entrepreneurs across
the country with a unique set of resources and people who can help them succeed –
including professionals, investors, advisors, and other entrepreneurs. The site was
founded in 2007 by two Harvard students. Its Board of Advisors includes Bob Higgins
(Managing Partner at Highland Capital), Tom Harrison (CEO of Omnicom Group’s
Diversified Agency Services, the largest holding group of marketing companies in the
world), Trey Grayson (Secretary of State of Kentucky), and Janak Joshi (Boston-based
venture financier).
 This event is open to currently enrolled university students and alumni who
graduated in 2003 or thereafter from a university currently listed on ( reserves the right to require
confirmation of eligibility. Participants must be at least 18 years of age.)
 To enter the competition, participants must be accepted as members of This requires visiting,
submitting a brief application indicating one’s reason for being interested in
entrepreneurship, and completing a full profile in either the “Businesses in the
Game” or the “Students on the Roster” section of
 Acceptance as a member of is determined by the site’s
administrators, in accordance with its standard membership policy. For more
information, go to
a. Entry to the National Business Idea Competition is free.
b. To enter the competition you must satisfy the above “Eligibility” requirements,
which include completing an application and profile for, and being accepted as a
student member in, Student membership is free.
c. After acceptance, you may submit up to five separate business ideas in the
“Ideas in the Bullpen” section of the site. Each business idea will be considered
separately and must be posted as a separate entry in “Ideas in the Bullpen.”
d. To be considered in the competition, business ideas must be described in 250
words or less. does not provide confidential treatment for
submitted ideas and reserves the right to republish and disseminate any and all
e. The competition will be open until January 15th, and eligible participants may edit
their submissions at any time prior to January 15th. The winners will be
announced on January 30, 2008.
f. There will be one winner and one runner-up. The winner will receive a $750 cash
prize, and the runner-up will receive a $250 cash prize. Winners are responsible
for any taxes due.
g. To enter the competition, you must become a member of the site by creating a
full profile for yourself in either the “Businesses in the Game” or the “Students on
the Roster” section of the site.
h. Winners will be selected on the basis of (i) quality of their business idea, (ii)
clarity of writing, and (iii) interest and dialogue generated about their idea in the
“Ideas in the Bullpen” section of Ideas will be judged by administrators in conjunction with one or more members
of the Advisory Board.
administrators will exercise sole discretion in selecting winner according to these

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