Students taking part in this year’s UNM Technology Business Plan Competition will learn more about constructing solid financial projections for high-technology startup firms than in previous years. This time around, at least one member from each team competing in the competition needs to attend three seminars presenting guidelines and helpful tips for business plan financials.
The first of three required seminars on Financial Projections for Startups will take place on Friday, Oct. 24 from 11:30 a.m. – 1:30 p.m. in GSM 117 (Anderson Graduate School of Management Building). Lunch will be provided and participants are required to RSVP to bayley@mgt.unm.edu or 277-6172.
This seminar will also be offered on Friday, Feb. 13, 2009, though attendance this month will allow teams additional time to integrate what they have learned into their financial statements. Team members are welcome to attend both sessions for extra support. Soundness of financial projections and reasoning will be a major judging criterion in the competition.
The other required sessions will be offered on Friday, Nov. 14, 2008 (or Friday, Feb. 27, 2009) and Friday, Nov. 21, 2008 (or Friday, March 6, 2009).
The UNM Technology Business Plan Competition is designed to encourage UNM students from any UNM school or college to collaborate on teams that commercialize technology products developed at UNM, Sandia National Labs, Los Alamos National Lab, or elsewhere in the state.
These student-owned startup firms bring inventions from lab to market and boost economic development in New Mexico. Top prize for the competition is the $25,000 Michael Gallegos Prize for Entrepreneurship. TVC Lockheed Martin sponsors the $10,000 second place prize, and vSpring Capital offers the third place $5,000 prize.
In additional to prize money, competing teams are eligible for venture capital seed funding and will be given the opportunity to compete in other business plan competitions.