Entrepreneur contest open to university, college students

    The University of North Texas (UNT) is searching for entrepreneurs across Texas.

   The University-sponsored Shirley Murphy Entrepreneur Contest is now open to all full-time students attending Texas colleges and universities.

   Originally, the contest was scheduled for Spring 2002, and only students attending UNT were eligible.

   However, the competition has been extended to Fall 2002.

   “After Sept. 11, money for business development and entrepreneurial projects evaporated,” Lew Taylor, Center Director, said.

   “We felt the responsibility to open the competition up to all college or university students in Texas,” he said.

   “This contest encourages businesses and entrepreneurs from around the state to look inside our educational institutions to discover young minds,” he said.

   Named for a UNT alumni and co-founder of Mail Box, Inc. of Dallas, the contest is the only one of its kind in Texas.

   It is the only national university-sponsored entrepreneur contest allowing people outside the university to compete.

   Institutions such as Harvard and Purdue offer contests that are strictly limited to students attending those universities.

   “This contest is a fantastic educational concept that provides students with real-world entrepreneurial experience,” Taylor said.

   “Unlike many student contests, the Shirley Murphy Entrepreneur Contest allows students to team with people outside their university to create and develop successful business models. In this way, our students are learning practical skills, creating a business and launching their entrepreneurial future,” he said.

   A total of $50,000 in seed money will be offered to the top three finishers in the contest, Taylor said.

   “Ultimately, the contest is a way for students to establish valuable contacts in the business world,” he said. “We’re helping our students transition into the workplace in a way no other educational institution can.”

   Eileen Curry Resnik, associate director of the Murphy Enterprise Center, said, “The competition not only grants Texas college and university students start-up money for their businesses, but exposes them to people with the experience and money to make those ideas succeed.”

   Winners will receive $25,000 for the first-place team, $15,000 for second-place and $10,000 for third-place.

   Contest organizers invite individuals to develop innovative business ideas for viable new enterprises.

   Teams must create and present a business plan and prototype that will demonstrate how their proposed venture can succeed.

   The contest rules require that at least one full-time undergraduate or graduate student attending a public or private Texas college or university must work on a competing team in a key management role and have a significant ownership position. Teams may include up to five members.

   For more information, contact Joan Ackerson at 940-565-2848.
Rules for the competition are available at www.murphycenter. unt.edu.