University of North Dakota hosts regional business plan competition

The Department of Entrepreneurship at the University of North Dakota, in partnership with Alerus Financial, is pleased to host the Alerus Entrepreneurship Challenge, a new state-wide/regional business plan competition, to be held on the UND campus in Grand Forks, today and tomorrow, April 23-24, 2010.

In addition to our new and exciting partnership with Alerus Financial, we have several local business sponsors awarding cash prizes to the top three teams, and other prizes will be awarded for the “Best Elevator Pitch” and “Most Innovative Idea.” The top prize for the winning team in the competition will be $5,000 provided by JLG Architects and the second prize will be $2,000 and is provided by the UND Center for Innovation, and 3rd prize of $1,000 is provided by Digi-key. Another Alerus Entrepreneurship Challenge sponsor is Construction Engineers.

The Alerus Entrepreneurship Challenge is designed for any undergraduate or graduate student enrolled at a North Dakota or neighboring state college or university during the 2009-2010 academic year. There are 15 teams entered in this years’ competition traveling across the mid-west to take part in this event. There are teams representing the University of North Dakota, University of South Dakota, and University Minnesota Crookston.

“This is a great opportunity for our students at UND and other enterprising students across the state and region,” says Dr. Larry Pate, Professor and Burwell Endowed Chair in Entrepreneurship, UND Department of Entrepreneurship. “Each student team in the competition will receive valuable feedback on their business plan from practicing entrepreneurs, which will increase the team’s chances of success in launching their business. Ultimately, our goal is to help students achieve their dreams, while also creating more jobs and job opportunities across the state and region.”

If you would like to also hear the two-minute Elevator Pitches from each team, the Memorial Union Lecture Bowl at UND will be open with pitches starting at 1:30 PM. Following the Elevator Pitches, there will be a break for the judges to decide on winners before the Closing Ceremony at 3:00 PM.

For more information about the competition, please contact Laurie Sorensen, Alerus Entrepreneurship Challenge Coordinator at challenge@business.und.edu or call 701.777.3701.

Tags: daily updates, university of north dakota, business plan competition, entrepreneurship,