News and Events
Johnson School at Cornell University Seeks New Business Ideas in Big Red Ventures Business Idea Competition
Record number of entries last year reflects fierce competition
February 19, 2008 | Ithaca, NY | The Johnson School at Cornell University today announced it is accepting entries for the eighth annual BR Ventures Business Idea Competition until March 7. A business idea is a concept upon which a commercial venture can be based, and unlike many other competitions, entrants are required to submit only a two-page description of the business idea, not a full business plan. The winning idea will receive up to $20,000 and 20 hours of free legal help through Big Red Legal, Cornell's entrepreneurship legal services program. Second place will be awarded up to $5,000 with third place receiving up to $2,000. The first- and second-place winners may also be entered into the Golden Horseshoe Business Challenge, a business plan competition for Buffalo, Ithaca, Rochester in Western New York, as well as the city of Waterloo, Ontario. The first-place winner of this competition will receive $100,000 in cash.
Each year BR Ventures the student-run venture capital fund at the Johnson School at Cornell University, sponsors the Business Idea Competition, which attracts more than 150 entries from across the country. There are eight student managers in BR Ventures who review each entry and select no more than eight ideas to advance as finalists of the competition. The competition was designed to foster entrepreneurship by combining the talents of entrepreneurs with the capital and resources of BR Ventures and BR Incubator, a student-run business incubator that provides consulting services to start-ups.
Each finalist will present their idea before a panel of expert venture capitalists, successful entrepreneurs, and business and law professionals on April 10, 2008 at Cornell University. The judging is based on the viability of the business idea and information conveyed during the final presentation. The winning ideas will be announced later that day at the Entrepreneurship@Cornell Celebration Dinner.
Last year's winner was e2e Materials. Based on Cornell technology, e2e Materials produces strong, biodegradable composites from renewable fibers and soy protein. The company's first products are skateboards and a formaldehyde-free replacement for particleboard, a popular raw material for office and low-cost home furniture. As a result of this competition, BR Ventures co-invested in e2e Materials together with Excell Partners and Cayuga Venture Fund. The company was recently featured on Invention Nation, a new show on Discovery's Science Channel.
Additional information, including official rules, guidelines, and the entry form.
