University of New Mexico students can compete for a top prize of $25,000, plus an additional $10,000 in seed funding, in the third annual UNM Technology Business Plan Competition. President David J. Schmidly will join business leaders, UNM faculty and potential team members for the 2008 kick off of this exciting event at a reception on Wednesday, Sept. 26 at 4 p.m. in the Anderson Student Center.
Interested students must be enrolled at UNM for at least six credit hours during the fall 2007 or spring 2008 semesters. Teams will present a plan to start a company based on technology innovation used to produce new products or services.
Judges consisting of successful entrepreneurs, venture capitalists, technologists, and business experts, will evaluate the plans for viability, attractiveness to investors, and ability to sustain high value-added employment in New Mexico. Top honors will be handed out on Friday, April 11, 2008. Second place finishers will receive $10,000, and the third place prize is $5,000.
Dr. Sul Kassicieh who runs the competition as part of UNM’s Center for Support of Economic Development, points out the importance of new business creation in generating high-paying jobs and, wealth in the region.
Business and community supporters of the competition the past two years have included:
· Michael Gallegos and American Property Management Corporation, providing the $25,000 Michael Gallegos Prize for Entrepreneurship
· Technology Ventures Corporation and Lockheed Martin, giving the
$10,000 TVC Lockheed Martin Prize
· Brent DePonte and DePonte Investments, Inc., offering the $5,000
DePonte Investments Prize in 2007
· Honeywell, Inc., supplying the $5,000 Honeywell Prize in 2006
· vSpring Capital, Wasatch Venture Fund and the New Mexico Venture Capital Association, providing support for the events integral to the competition, and
· Brownstein Hyatt & Farber and Grant Thornton LLP, providing in-kind donations of legal and accounting services.
Additionally this year, Trevor Loy and Flywheel Ventures, a locally-based venture capital firm, have committed to offer at least $10,000 in seed funding to the winning team(s).
The competition is open to all UNM students, and Dr. Kassicieh intends this year to increase participation from students in all of UNM’s Main and North Campus schools and colleges.
For more information call or e-mail Jennifer Bayley, Program Manager at 277-6172 or bayley@mgt.unm.edu.
Media Contacts: Leslie Venzuela, (505) 277-7117; e-mail: venzuela@mgt.unm.edu or Erin Gardner, (505) 306-9575; e-mail: news@mgt.unm.edu