10th Annual Business Plan Contest

FOR IMMEDIATE RELEASE/January 27, 2003
Contact: WPI Venture Forum, +1-508-831-5075

Deadline for Executive Summaries: March 10, 2003
Announcement of Winner: April 8, 2003, 6 - 9 p.m., WPI, Campus Center Odeum

WORCESTER, MA (January 27, 2003) - What does a portable navigator have in common with a superconducting magnetic-smart actuator? The founders of the companies that created the devices are prior winners of the WPI Venture Forum's Business Plan Contest – American Navigation Systems and Energen. This year marks the 10th anniversary of the contest, developed to honor and reward start-up technology companies that provide innovative products and services.

The 2003 WPI Venture Forum Business Plan Contest will award a prize of $15,000 in cash and professional services to one lucky winner. The contest is open to technology-based pre-start, startup, and on-going businesses located in New England. Students are eligible. The venture should involve the development of a new product, a new application, or process in an existing business, or the start-up of a new business.

Initial applications and executive summaries are due Monday, March 10, 2003. In the first round of judging, all entrants will make a presentation to a judging panel selected from professional service and advisory groups. The finalists will present their full plans at the WPI Venture Forum meeting to take place on Tuesday, April 8, 2003 from 6:00 to 9:00pm in the WPI Campus Center Odeum room. The winner will be selected at the conclusion of the meeting by a panel of venture capitalists. Entry forms and additional info can be found at http://www.wpiventureforum.org/Contest/. The entry fee is $50.


About the WPI Venture Forum

The WPI Venture Forum was created in 1990 to promote the entrepreneurial spirit and to serve those who engage in technology- based entrepreneurial enterprises by providing advice, support and education tailored to meet their needs. The forum fosters entrepreneurship through such activities as monthly programs, a business plan contest, a weekly radio show on News Radio WTAG (Saturdays, 5-7 pm, 580am), and a monthly newsletter.

The Venture Forum, as part of the Collaborative for Entrepreneurship & Innovation in the Department of Management at WPI, serves individuals who are seeking to begin their own technology-based businesses; founders, presidents, and senior managers of start-up or early-stage companies; senior managers of companies that are restarting or making a transition for one mode of operation to another; and employees leaving large companies due to a reduction in force or to start businesses.