One of the finalists in the various 2005-06 business plan competitions sponsored by Purdue University and Lilly Endowment Inc. will win a special $50,000 award to further develop its enterprise.
The Burton D. Morgan Center for Entrepreneurship contacted the finalists in the three Opportunity for Indiana Business Plan Competitions and February's Burton D. Morgan Entrepreneurial Competition asking them to write letters describing how they would use the sec ond-phase money.
"We'll award the money to the company or team that shows the most promise for success and will make the best use of the funds to further the entrepreneurial spirit in Indiana," said Don Blewett, Burton D. Morgan Center for Entrepreneurship associate director. "For the startup that wins, $50,000 can mean a strategic hire, a prototype product or trips to trade shows."
Last year, Indianapolis-based Prosolia Inc. won the award.