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Adams Center for Entrepreneurship to bring back business plan competition

A competition in which Florida Atlantic University students, faculty and members of the community can create an innovative business plan and win as much as $3,500 has returned after a two-year hiatus.

The Adams Center for Entrepreneurship and the Barry Kaye College of Business are holding the Spring 2009 Business Plan Competition. The competition seeks out creative business plans purposing potential products, services or technological businesses.

Since its foundation, the center has had numerous achievements. In 1998, for example, the faculty was ranked third in the nation by Success magazine.

The Adams Center received its name in 2001 after major contribution was made by FAU graduate, entrepreneur and Board of Trustees member Scott H. Adams.

Since then, the center has maintained a generally quiet presence. The return of the competition is a way to lure the community to get involved and revive the center. New Adams Center Director Kimberly Gramm says its one way to “bring new life” to the center.

Applying for the competition is simple. The application used to describe the business plan, which soon will be available online at www.fauadamscenter.org, must be submitted with resumes from each of the team's members. All application documents should be e-mailed to Gramm at kgramm@fau.edu.

Business teams, which must be nominated by a member of faculty to participate in the competition, should consist of graduate or undergraduate students, faculty and researchers and have a minimum of three members. There must be at least one student on each team.

The competition will be divided into two categories, Investment Intensive Plans and Limited Investment Plans. Groups will be expected to produce a plan for a seed, start-up or early-stage venture and must include an entire business plan, covering every concept of the beginning of a business from loans and grants to revenue and rent.

"We are looking for innovation, something original," Gramm said.

The judges will be selected based on experience and expertise in investing and entrepreneurship. They will judge the business plans based on quality of market opportunity, competitive landscape, vision plan, quality of writing and overall team presentation.

The Adams Center and the college will accept donations to go toward a total of $15,000 to be awarded to the winners. To make a contribution, please contact Adams Center Development Officer Helena Szczesny by phone at 561-297-3186 or by Email at hszczens@fau.edu.

Deadlines have not yet been set, but Gramm said she expects the submission deadline to be toward the end of February. She hopes to hold a fund-raising event at the end of April to announce the winners of the competition and acknowledge contributors.




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