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by Dr. Bee-Leng Chua, Director, Entrepreneurship Center

The HPU Entrepreneurship Center has introduced a New-Venture Challenge, an annual business plan competition open to undergraduate and graduate student teams with at least one current HPU student member. Registration due by Feb. 15 with a May 15 deadline for completed plans and presentations. Teams will be able to present their plans in several formats: an informal, on-the-floor poster session; a pitch contest, where they will be able to practice the art of quick summary to attract interest; and a formal, general session to panels of judges and an audience.

The Challenge aims to stimulate and build entrepreneurial capacity in students. It will encourage students to start and grow new ventures based on ideas and technologies developed by either themselves or others, including HPU faculty or community members. In addition to writing a business plan, students will learn skills in pitching their ventures to potential investors (judges) who will give feedback for improving the probability of their ventures’ success. Multi-disciplinary teams are encouraged to take part in the Challenge.

The Challenge is open to new ventures in the seed, startup, or early growth stages and may be for-profit or not-for-profit. The winner of the Challenge will be the team that offers investors the most viable, feasible, venture with the most attractive value proposition. There will be attractive cash prizes as well as internship awards for winning teams.

Students can choose either an entrepreneurial track where teams will develop free-standing, independent ventures, or they can select an intrapreneurial track, in which they partner with organizations to develop new business lines with distinct market, business model, and revenues.
Four student groups are co-organizers of the Challenge: the Project Management Club, MBA Club, Saudi Club, and SIFE. A series of mixers, workshops, and presentations will help students build their teams, develop ideas, write, and present their business plans.

The Feb. 15 registration deadline is followed by submission of a 1,000 word Venture Concept Proposal. Sixteen teams will then be selected to write full business plans and compete in the semi-finals on May 15 May. The grand finals take place on May 16.
Information or registration at hpu.edu/entrepreneurship.
 
 
 

 

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