Thirty teams will compete in the semifinals of the 2015-2016 West Virginia Statewide Collegiate Business Plan Competition being hosted at West Liberty University Friday (Nov. 13) at 10 a.m. in the Student Union Ballroom.

The competition, hosted by the BrickStreet Center for Innovation and Entrepreneurship within the West Virginia University College of Business and Economics, is in its 10th year and has attracted the second-most entries ever for the statewide competition.

This year’s competition welcomed 209 entries during the first round in early October from 12 West Virginia colleges and universities. The field was narrowed to 30 semifinalists who will compete in three categories: Science, Technology, Engineering and Mathematics; Hospitality & Tourism; and Lifestyle & Innovation. Semifinalists are from Bluefield State College, Concord University, West Virginia Wesleyan College, University of Charleston and WVU.

The semifinal competition consists of three phases:

• Students prepare a written feasibility plan for their ideas, more in-depth than the first-round submission.
• Each team presents a two-minute elevator pitch.
• Each team will participate in a series of one-on-one interviews with the judges panel, set up in a speed-dating format.

Of the 10 semifinal teams in each category, the judges will select the top five based on average score; those finalists will then compete in the spring semester for the grand prize. Each finalist will receive a $1,000 stipend to formulate a final plan in the quest for the $10,000 grand prize in each category.

“We are very excited to be hosting the West Virginia Business Plan Competition semifinals here at West Liberty University, since this will be the first time that we have had the opportunity to host this event,” said Carrie White, director of the Center for Entrepreneurship at WLU. “I have been a member of the Oversight Committee for 10 years and have seen some very impressive students and new products and businesses as a result. This is a wonderful opportunity for students, but also for the economy of the state of West Virginia. We are fortunate to have university partners and, of course, WVU, who organizes this event as well as BrickStreet for its continued sponsorship.”

Winners of each category will receive a $10,000 cash award and a prize package including free professional services to start their new business in West Virginia.

Final business plans are due from each finalist in March, with winners announced at the West Virginia Collegiate Business Plan Competition banquet at WVU on April 8.

For more information on the West Virginia Collegiate Business Plan Competition, visit www.be.wvu.edu/bpc.

-WVU-

mm/11/11/15

CONTACT: Julia Bolt; WVU BrickStreet Center for Innovation and Entrepreneurship
304.293.7221; Julia.Bolt@mail.wvu.edu

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