World’s richest business plan competition

Rice University promotes its student business plan competition as the world’s richest and largest. And who can argue? With yesterday’s announcement that the NASA Johnson Space Center has added another prize – this one the $50,000 “Game Changer” Commercial Space Innovation Prize – total prizes in the contest go well beyond $800,000 in cash and services.

The new NASA “Game Changer” Prize will award $50,000 to the team’s business plan with the best idea related to commercial space innovation. NASA also provides three other $20,000 prizes, for a total commitment of $110,000.

The Grand Prize winner of the Rice Business Plan Competition will receive a package worth up to $325,000, including up to $225,000 in equity investment, $20,000 in cash, plus over $80,000 in mentoring and incubation services. In addition to the NASA prizes, cash prizes are awarded in a number of other special categories: Clean Technology, Sustainability, Energy, Information Technology/Web 2.0, Life Sciences/Biotech/Medical Devices, Consumer Products, and Social Entrepreneurship (including not-for-profits).

The competition has a stellar reputation for launching businesses, with more than 80% of 2009 competing teams now in business. Little wonder, since there are over 200 competition judges including venture capitalists interested in investing in competitors.

Applicants to the Rice Business Plan Competition must have their executive summaries submitted by February 26, 2010. Forty-two teams will be select to present at the finals on April 15-17, 2010 in Houston. Every team accepted into the Rice competition is guaranteed to win at least one cash prize.

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Co-founder of Bizplancompetitions.com. 2009 graduate of Nazareth College (Rochester, NY) who enjoys riding horses and motorcycles (in that order).
View all posts by Megan Hurley → This entry was posted in Featured Posts, Spotlight - Competitions and tagged . Bookmark the permalink.

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