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SMU Cox MBA Compete for "Best Business Plan"  /  Competition Exemplifies
the Entrepreneurial Spirit

DALLAS, Texas (SMU) - The SMU Cox School of Business annual Business Plan Competition was held Friday, February 14. In its third year, the Business Plan Competition continues to be one of the most prominent student competitions on campus, adding two new competitions and gaining more campus support.

The Competition provides current Cox MBAs an opportunity to formulate, present, and defend their new business concepts to various start-up funding sources. The winner not only advances to compete in the Southwestern Regional Competition held at the Jones School of Business on the campus of Rice University, but also has the unique opportunity to present their business plan to the SMU Cox Venture Fund.

"We wanted to grow the event this year, and establishing a relationship with the Cox Venture Fund was a big step in the right direction," said David Griswold, co-president of the MBA Entrepreneur Club.

Students also have the opportunity to enter into alternative business plan competitions, such as the New Venture Championship that awards up to $60,000 and the Carrot Capital Business Challenge, which offers awards up to $3 million. "By adding the Carrot Competition and the New Venture Championship, we can leverage the SMU Cox brand and better the offering to our students," Griswold said. "Include the Cox Venture Fund and a Cox MBA can potentially pitch their concept to upwards of $3 million in funding sources."

Seventeen student teams responded with enrollment forms to the business plan competition this year, up from 14 in 2002. After a series of evaluations, nine plans were judged and four finalists chosen. A judging panel comprised of venture capitalist, consultants, and academics evaluated proposals on criteria such as viability and potential financial performance.

The Business Plan Competition is, in itself, an entrepreneurial endeavor. Initiated and organized by members of the Cox MBA Entrepreneurship Club, the competition was developed as a way to provide Cox MBA students feedback on viable business ideas. The event has a main objective with two goals. The objective is to provide an opportunity for students to pursue their dreams of entrepreneurship. The goals are to improve a student's ability to prepare a product offering and capitalize on the feedback and support of new business financiers. To achieve this, the MBA Entrepreneur Club has developed relationships with area venture capitalists, angel investors, and entrepreneurs. Through a series of workshop events organized by the club, participants in the Business Plan Competition receive instruction, examples, and real-world feedback on what it takes to prepare a business plan and what it means to be an entrepreneur. Finalists also receive individual coaching for presentation skills and executive writing through the SMU Cox Business Leadership Center. These added benefits are unique to the Cox MBA experience.

"Through the support of the Caruth Institute for Entrepreneurship we have really been able to get the administration behind this event," said Griswold. "The next step is to showcase Cox and its students to the community and target those interested in the competition for potential inclusion as coaches, judges or sponsors for future events."

The Cox School's entrepreneurship program has offered top-quality education and training for entrepreneurs for more than 30 years. BusinessWeek ranked the SMU Cox #1 in entrepreneurship among the top 25 Executive MBA programs worldwide.