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2003 New Venture Opportunity Contest Winners To Be Announced Dec. 9
The RPIdeaLab will announce the 2003 winners of the New Venture Opportunity Contest (NVOC) at an award ceremony at the Heffner Alumni House on Tuesday, Dec. 9 from 4 to 5 p.m. The five winning teams will receive $1,000 prizes during the event, and each will also discuss their new product and service ideas.
“The goal of the contest is to prime the pump for the Lally School’s business competition in the spring, and the competition also dovetails into a number of entrepreneurship-related classes and activities conducted each fall.”
—Simon Balint—
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Participants in the annual competition, which was sponsored by the RPIdeaLab and the Lally School’s Severino Center, were asked to submit written venture concept proposals to compete for the cash prizes. All Rensselaer students were eligible, and both graduate and undergraduate students majoring in a wide variety of disciplines entered, said Simon Balint, acting director of the Incubator Program and coordinator of the contest. Once all of the entries were received, the applications were reviewed and judged by a group of veteran entrepreneurs and professional investors. This year, said Balint, more than 30 teams sent in well-conceived and impressive ideas ranging from subdermal microelectronic medical devices to unmanned air vehicles to bagel shops in China.
“The goal of the contest is to prime the pump for the Lally School’s business competition in the spring, and the competition also dovetails into a number of entrepreneurship-related classes and activities conducted each fall,” he said. “The idea is to get students thinking about entrepreneurship early, and to get them excited about the types of programs available on campus and through the Lally School. Judging from the successes of previous competitions, the New Venture Opportunity Contest does just that,” he added, explaining that several previous winners have embarked on successful careers in entrepreneurship or launched companies based on NVOC concepts.
The Dec. 9 event, at the Alumni House, is open to the public. The program will feature the winners and the groups that received honorable mentions.
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