GOVERNOR’S AWARD OFFERED IN STUDENT ENTREPRENEUR COMPETITION

FAYETTEVILLE, Ark. - The Small Business Development Center, located in the Sam M. Walton College of Business Administration at the University of Arkansas, is one of five sponsoring organizations that recently announced the Governor’s Award for Entrepreneurial Development. Open to undergraduate students, the competition offers a $30,000 first prize, a $20,000 second prize and a $10,000 third prize to the outstanding business plans. In addition, faculty sponsors of winning teams will win $1,000, and the institution will win the Governor’s Award for Entrepreneurial Development.

Lance A. Sexton, director of the Small Business Development Center in the Walton College, said, "We hope the amounts awarded in this competition will encourage students to come forth with valid business plans and start actual businesses. This effort will benefit the state’s economy as well as the student entrepreneurs. As a showcase for new ideas, it will provide venture capitalists with opportunities to see what is available for investment in start-up businesses."

The award also is being managed by the Arkansas Small Business Development Center in Little Rock, Capital Resource Corporation, the Arkansas Department of Economic Development, Arkansas Development Finance Authority and the Arkansas Science and Technology Authority.

Capital Resource Corporation is an affiliate company of the Arkansas Capital Corporation Group, a non-profit organization that has provided capital solutions to business owners since 1957. The mission of Capital Resource Corporation is to cultivate a venture capital industry for small businesses in the state of Arkansas.

Undergraduate students of Arkansas’ four-year private and public universities and colleges are eligible to enter the competition. These students will present business plans to a panel of judges consisting of entrepreneurs, investors and professional service providers. The competition is open to all undergraduate students of all majors.

Business plans are due for preliminary review March 15, 2001. For more information and to obtain an application for participation, please contact Lance A. Sexton, director, Small Business Development Center, Sam M. Walton College of Business Administration, Donald W. Reynolds Center for Enterprise Development, University of Arkansas, Fayetteville, AR 72701, (479) 575-6072, lsexton@walton.uark.edu. Sexton is serving as the UA campus-wide coordinator for the competition.

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