SOURCE: Cincom Systems, Inc.

February 21, 2011 11:14 ET

University of Cincinnati and Cincom Host the "Spirit of Enterprise" MBA Business Plan Competition

March Madness for the Business Mind

CINCINNATI, OH--(Marketwire - February 21, 2011) - Cincom Systems will host and sponsor the 2011 seventh annual University of Cincinnati (UC) Spirit of Enterprise MBA Business Plan Competition on Thursday, February 24 and Friday, February 25, 2011.

CRITICAL ISSUES

Healthcare access, creation of advanced medical devices and clean energy are some of the most critical issues facing the world. The teams competing in the Spirit of Enterprise competition have entrepreneurial ideas to help face and overcome these challenges.

"Even a cursory read of the 15 business plans presented at the 2011 Spirit of Enterprise Business Plan Competition suggests that returning to economic health is well within our reach," noted Dr. Charles H. Matthews, Executive Director of the UC Center for Entrepreneurship. "It is exciting to see the transformative power of innovation applied to such a diverse set of new venture proposals -- each addressing a unique market opportunity and value proposition. It is the bedrock of our economic vitality."

SHOW ME THE MONEY

To win, teams must communicate their business plans in a powerful, persuasive way to an esteemed panel of bankers, venture capitalists and business leaders. The most innovative and commercially viable plans will be rewarded with cash prizes up to $20,000.

COMPETITORS?

The University of Cincinnati, Kennesaw State University, the University of Louisville, the University of Oregon, Carnegie Mellon University, Georgetown University, Northwestern University, Ohio State University, Purdue University, the University of Michigan, Johns Hopkins University, Indiana University, the University of Akron, the University of Illinois at Chicago and the University of Arkansas.

HOW DOES IT WORK?

The winning teams are identified through a competition format consisting of three intense and challenging preliminary rounds -- very much like the NCAA Basketball Tournament. At the conclusion of the preliminary round, the top four teams will advance to the final round's single track, where they will again have 25 minutes to sell their venture -- this time to a new panel of judges.

CAN YOU THINK ON YOUR SEAT?

Those not chosen for the final championship round will move on to the consolation track: the Limo/Taxi Ride Competition. Mirroring a chance encounter with a potential angel investor, teams must try to sell their business plan's viability within 10 minutes on the road.

THE CINCOM "SPIRIT OF ENTERPRISE" GRAND PRIZE

This year's competition features cash prizes totaling $20,000, with first place being the Cincom Spirit of Enterprise Champion Prize and an automatic bid to the 2011 Venture Labs Investment Competition (formerly Moot Corp.). Other cash prizes will be allotted to the second- and third-place recipients of the Finalist Round, first place in the Taxi/Limo Competition and the winner of the Best Technology Plan. The Exhibition Round will garner a cash prize for the top three teams for best exhibit.

LEARN FROM REAL-WORLD ENTREPRENEURIAL LEADERS

"We are very fortunate to have one of the outstanding entrepreneurial exemplars in the world right here in Cincinnati: Mr. Tom Nies. Mr. Nies is the quintessential entrepreneur -- turning ideas into action, creating a business, jobs and economic lift. It is altogether fitting that the next generation of entrepreneurs gathers here in the Cincom Systems, Inc. World Headquarters to share, learn, ideate and create the ventures of the future," says Matthews.

Aside from monetary awards, participants will receive valuable practice in competing against teams from top universities, as well as invaluable business-plan assessments and critiques from the panel of judges.

About the UC E-Center

Founded in 1997 by Matthews, the E-Center's mission is to provide a state-of-the-art entrepreneurship curriculum and research base not only for potential student entrepreneurs and scholars, but also for people in the many organizations that interact with small, entrepreneurial and family-owned businesses. Success magazine has listed The University of Cincinnati as one of the top 50 programs for entrepreneurship in the U.S., and in 2008, The Princeton Review ranked UC the 21st best Undergraduate Entrepreneurship program in the country.

About Cincom

For 43 years, Cincom has helped thousands of clients worldwide by solving complex business problems with its software and services. For more information about Cincom's products and services, contact Cincom at 1-800-2CINCOM (USA only), send an e-mail to info@cincom.com or visit the company's website at http://www.cincom.com.

Cincom and the Quadrant Logo are registered trademarks of Cincom Systems, Inc. All other trademarks belong to their respective companies.

© 2011 Cincom Systems, Inc.
All Rights Reserved 

Contact Information

  • MEDIA CONTACTS

    Steve Kayser
    Public Relations Director
    Cincom Systems, Inc.
    513-612-2348
    skayser@cincom.com

    Liz Harter
    Public Relations Specialist
    Cincom Systems, Inc.
    513-612-2155
    lharter@cincom.com

    Maygan Eldridge
    Corporate Public Relations
    Cincom Systems, Inc.
    513-612-2098
    meldridge@cincom.com