UA produces finalists in Governor's Cup business plan competition
Nick DeMoss
Issue date: 3/27/09 Section: News
Six UA student teams are among the top 25 in the state selected to compete for their share of more than $114,000 in this year's Donald W. Reynolds Governor's Cup Graduate and Undergraduate Business Plan Competition.
Initiated in 2001, the contest is a collaborative project for graduate and undergraduate students, designed to promote entrepreneurship in Arkansas through a statewide competition. The goal of the project is to encourage the development and commercialization of ideas and technologies being discovered in Arkansas universities.
Historically, rural states, such as Arkansas, have not benefited as greatly from the economic growth provided by sound business planning, the commercialization of technology or the accumulation of venture capital, according to the organization's Web site.
"We believe our college students are just as good as any other states, and we want them to excel," said Kerri Daniels, executive director of the Arkansas Economic Acceleration Foundation. "All the resources they need to excel are right here in Arkansas."
In this year's competition, 59 entries representing 15 schools were submitted, and the top 25 were chosen to compete in the second stage of the competition. Those teams will present their business plan at the Peabody Hotel in Little Rock April 3 and April 4, and the public is allowed to attend.
In the past eight years, the Donald W. Reynolds Governor's Cup has awarded $789,000 to Arkansas student teams and their faculty advisers. More than 1,000 students have participated in the project since its inception.
The first place teams in both the undergraduate and graduate competitions will receive $20,000 to be divided among the team members, with an extra $1,000 given to the team's faculty adviser.
The UA finalists include one graduate team and three undergraduate teams. The graduate team is Tears for Life, a medical diagnostic-equipment company that has an exclusive license to use technology that can use a woman's tears to help screen for breast cancer.
Initiated in 2001, the contest is a collaborative project for graduate and undergraduate students, designed to promote entrepreneurship in Arkansas through a statewide competition. The goal of the project is to encourage the development and commercialization of ideas and technologies being discovered in Arkansas universities.
Historically, rural states, such as Arkansas, have not benefited as greatly from the economic growth provided by sound business planning, the commercialization of technology or the accumulation of venture capital, according to the organization's Web site.
"We believe our college students are just as good as any other states, and we want them to excel," said Kerri Daniels, executive director of the Arkansas Economic Acceleration Foundation. "All the resources they need to excel are right here in Arkansas."
In this year's competition, 59 entries representing 15 schools were submitted, and the top 25 were chosen to compete in the second stage of the competition. Those teams will present their business plan at the Peabody Hotel in Little Rock April 3 and April 4, and the public is allowed to attend.
In the past eight years, the Donald W. Reynolds Governor's Cup has awarded $789,000 to Arkansas student teams and their faculty advisers. More than 1,000 students have participated in the project since its inception.
The first place teams in both the undergraduate and graduate competitions will receive $20,000 to be divided among the team members, with an extra $1,000 given to the team's faculty adviser.
The UA finalists include one graduate team and three undergraduate teams. The graduate team is Tears for Life, a medical diagnostic-equipment company that has an exclusive license to use technology that can use a woman's tears to help screen for breast cancer.
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