Undergraduate Step Five: Governor's Cup
The entrepreneurship program is an oasis of new ideas, techniques and classes where students are equipped with what they need, then encouraged to go out and make it happen. - Blair Humphreys BBA '05 |
The Governor's Cup offers students a chance to pit their ideas for new ventures against others. If the judges, prominent angels, venture capitalist and private equity investors, think you are the best, you win money and support. The process for preparing for business plan competitions is intense. Students spend long hours on their concept, their presentation and writing the business plan. The experience is unparalleled in the College of Business.
Students take their finished product from the three class sequence and enroll in the competition. Their 18 months spent identifying ideas, performing market research, doing patent searches, exploring and building prototypes, running financial analyses and break-evens all lead up to this moment - launch.
Students know they must demonstrate the feasibility of the idea, but they also must demonstrate the ability to execute. Can the group reach the milestones? Can the team distribute the product? Can the team secure partnerships? and most importantly, can the team attract smart money?
The competition forces students to answer these questions and forces them to present their answers in a compelling and professional manner. If the students impress the judges, answer the barrage of questions and communicate their vision better than anyone else, they win. They get the money, they get the recognition, and they get the nod of approval from leaders in the entrepreneurial community.
The process is long. the process is grueling. But it forces students to walk the entrepreneurial path. They understand through experience the commitment needed to succeed. The students graduate from this process tired, but they also graduate inspired, driven, and focused.