$40K prize for business plan competition starting Friday
By Sierra Jiminez
Posted: 4/17/08, 10:31 PM EST Section: News
Brooke Safran, a senior management student, has been living and breathing a business since November.
Safran, along with three fellow undergraduate management students, is one of the competitors in the Syracuse Panasci Business Plan Competition, eligible to win $40,000 to get their business started. Safran group's business is called Bike'NGo, a bike rack featuring a built in lock with the option of a parking meter.
The idea for the product developed from one of Safran's group members who lived in the city atmosphere and felt the bike parking capacity did not meet bikers' needs.
The Bike'NGo team has been working on the business plan since November, constantly fine-tuning the idea.
"We've been adapting it and changing it every day," Safran said.
A total of 16 teams of young entrepreneurs will compete today for the $40,000 prize after emerging from a pool of more than 100 competitors.
The groups will present their ideas during the semi-finals of the competition today, hosted by the Falcone Center for Entrepreneurship at the Whitman School of Management.
The Panasci Business Competition is designed to spark the entrepreneurial spirit of Syracuse University and State University of New York College of Environmental Science and Forestry students.
"It gives them a framework to develop their ideas and move their ideas toward commercialization," said Michael Morris, chairman of the department of entrepreneurship & emerging enterprises (EEE).
Morris is one of the many professors available to the students to aid in creating and refining the contestant's business plans.
From the beginning of the fall semester, students are encouraged to prepare for the competition.
After the pool is narrowed down to four teams in the semi-finals today, the final round will start Saturday with presentations from two of the teams from 1:30 p.m. to 2:50 p.m. The next two teams will present from 3:05 p.m. to 5:05 p.m. in the Whitman Auditorium.
Safran, along with three fellow undergraduate management students, is one of the competitors in the Syracuse Panasci Business Plan Competition, eligible to win $40,000 to get their business started. Safran group's business is called Bike'NGo, a bike rack featuring a built in lock with the option of a parking meter.
The idea for the product developed from one of Safran's group members who lived in the city atmosphere and felt the bike parking capacity did not meet bikers' needs.
The Bike'NGo team has been working on the business plan since November, constantly fine-tuning the idea.
"We've been adapting it and changing it every day," Safran said.
A total of 16 teams of young entrepreneurs will compete today for the $40,000 prize after emerging from a pool of more than 100 competitors.
The groups will present their ideas during the semi-finals of the competition today, hosted by the Falcone Center for Entrepreneurship at the Whitman School of Management.
The Panasci Business Competition is designed to spark the entrepreneurial spirit of Syracuse University and State University of New York College of Environmental Science and Forestry students.
"It gives them a framework to develop their ideas and move their ideas toward commercialization," said Michael Morris, chairman of the department of entrepreneurship & emerging enterprises (EEE).
Morris is one of the many professors available to the students to aid in creating and refining the contestant's business plans.
From the beginning of the fall semester, students are encouraged to prepare for the competition.
After the pool is narrowed down to four teams in the semi-finals today, the final round will start Saturday with presentations from two of the teams from 1:30 p.m. to 2:50 p.m. The next two teams will present from 3:05 p.m. to 5:05 p.m. in the Whitman Auditorium.
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