University of Toledo students, faculty and staff are encouraged to enter the fifth annual business innovation competition sponsored by the UT College of Business and Innovation and attend a free workshop Thursday, Jan. 29, from noon to 1 p.m. in the PNC Entrepreneurship Lab, located in Savage & Associates Business Complex Room 3100.
“Competition entries must be submitted using Lean Launch Pad concepts, which enable people to develop their business model upon key basic building blocks, such as value propositions, key resources, revenue streams and more. The January 29 free workshop will explain these concepts to help individuals and teams prepare their entries, which are due by February 20,” Dr. Sonny Ariss, professor and chair of the Management Department, said.
Finalists will be announced Friday, March 20, and winners will be announced Thursday, April 16.
The UT College of Business and Innovation is providing the following prize money:
• First place: $10,000;
• Second place: $5,000;
• Third place: $2,000; and
• Honorable mention: $500.
There is no cost to enter the competition. Registration must be completed online. Winners must prove that they have formed an LLC or S Corp in order to receive a financial award.
“We are expecting another tremendous array of entries this year,” Ariss said, “and trust the contest will continue to advance a creative culture of growth in all areas of the University.”
The competition is open to all UT students, faculty and staff, while alumni can participate as a member of a team involving current students, faculty or staff.
To register or for more information, go to utoledo.edu/business.