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IU launches $250K student biz-plan competition

IBJ Staff
September 19, 2011
Keywords
Business School, Colleges and Universities, Education & Workforce Development, Entrepreneurship, Indiana University, Kelley School of Business, Manufacturing & Technology, Small Business, Tech Executives, Technology
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A group of 10 investors has created a $1.1 million fund to support $250,000 in annual prize money to Indiana University students in Bloomington who submit the best business plans for a student-led Internet or software company.

The annual prizes for the competition called BEST—Building Entrepreneurs in Software and Technology—will be the largest in the world offered by a university solely to its students in a business-plan competition, IU said when announcing the contest on Monday.

BEST will be managed by the IU Bloomington School of Informatics and Computing, and the Kelley School of Business.

This year, concepts will need to be submitted by Nov. 15, with initial business plans and presentations of selected teams completed by Feb. 3. Selected finalists will deliver a final plan and a public presentation in mid-April. The winner will be guaranteed at least $100,000 to invest in his or her company, with the remaining prize money to be distributed among selected finalists.

The contest is open to all IU-Bloomington seniors and graduate students.

IU’s Research and Technology Corp. is contributing $100,000 to the competition in addition to the $1 million from the 10 investors.

Investors include CareerBuilder CEO Matt Ferguson, ExactTarget CEO Scott Dorsey and Compendium Software CEO Chris Baggott.

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  1. First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.

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