The University of Alabama

Business Plan Competition Open to Student Entrepreneurs

More than $50,000 in cash and in-kind support will be awarded to winners of the 2012 University of Alabama and Culverhouse College of Commerce Business Plan Competition.

This year’s competition, open to all active undergraduate and graduate students at UA, will have two tracks – a general business track and a technology-based business track.

Top three general business winners will each receive up to $2,500 for start-up funding, space in The Edge – Center for Entrepreneurship and Innovation in downtown Tuscaloosa – and consulting services from legal, financial, start-up, marketing or managerial consultants.

Dr. Louis Marino, professor of strategic management, said the competition is open to new ventures or to early-stage existing firms.

“For this competition a UA student must be an owner of the business,” Marino said. “If there is more than one owner of the business the student must be the majority owner.”

Marino said funds won from the competition must be spent on launching the new venture, or growing the existing venture, and will be distributed in accordance with winners’ statements as to how they will use the funds to start their businesses.

Winning businesses must be willing to establish an office in The Edge. Outline for business plans, competition rules and list of pertinent workshops can be found at uabplan.com. Deadline to submit a notice of intent to compete is Friday, Nov. 2.