2007 Headlines
Johnson School at Cornell University Seeks New Business Ideas in Big Red Ventures Business Idea Competition
Teams compete for over $100,000 in prize money
(Ithaca, NY, February 9, 2007)?..The Johnson School at Cornell University today announced it is accepting entries for the seventh annual Big Red Ventures Business Idea Competition until March 4. A business idea is a concept upon which a commercial venture can be based, and unlike many other competitions, entrants are required to submit only a two-page description of the business idea, not a full business plan. The winning idea will receive $10,000 and 20 hours of free legal help through Big Red Legal, Cornell's entrepreneurship legal services program. Second place will be awarded $2,500 with third place receiving $1,000. The first- and second-place winners will also be entered into the Golden Horseshoe Business Challenge, a business plan competition for Buffalo, Ithaca, Rochester in Western New York, as well as the city of Waterloo, Ontario. The first-place winner of this competition will receive $100,000 in cash.
Each year Big Red Ventures (BR Ventures), the student-run venture capital fund at the Johnson School at Cornell University, sponsors the Business Idea Competition, which attracts more than 100 entries from across the country. There are nine student managers in BR Ventures who review each entry and select no more than seven ideas to advance as finalists of the competition. Notification to finalists will be made by email or phone on March 17, 2007. The competition was designed to foster entrepreneurship by combining the talents of entrepreneurs with the capital and resources of BR Ventures and Big Red Incubator, a student-run business incubator that provides consulting services to start-ups. It is intended for entry teams that have not yet received funding or have received seed funding of less than $100,000.
Each finalist will present their idea before a panel of expert venture capitalists, successful entrepreneurs, and business and law professionals on April 19, 2007 at Cornell University. The judging is based on the viability of the business idea and information conveyed during the final presentation. The winning ideas will be announced later that day at the Entrepreneurship@Cornell Celebration Dinner.
Additional information, including official rules, guidelines, and the entry form.
