Augusta Free Press

Students to compete for $40,000 in revamped UVA Entrepreneurship Cup

Nine business concepts formulated by students or student teams will square off Friday in the final competition of the UVA Entrepreneurship Cup, to be held in the Great Hall of Garrett Hall.

After Tom Skalak, U.Va.’s vice president for research, and Maurice Jones, Virginia’s secretary of commerce and trade, offer opening remarks, the finalist teams will present their business concepts to a panel of judges, who will award $40,000 in cash prizes. The winners will receive $20,000; the runners-up $10,000, and two honorable mentions will receive $5,000. The U.Va. Entrepreneurship Cup is sponsored by Third Security LLC and Vonage.

This year’s judges include three U.Va. alumni – Marc Lefar, retired chief executive officer of Vonage;  Kenneth Bronfin, senior managing director at Hearst Ventures; and Jason Gabriel, managing director with venture firm Third Security LLC –  plus Jill Carroll, senior associate at S.R. One Limited, the venture capital arm of GlaxoSmithKline..

For the first time this year, the competition has been organized by themes, rather than by schools. Students were encouraged to enter their concepts into one of five themed tracks:

Now in its sixth year, the U.Va. Entrepreneurship Cup is a business plan competition open to all U.Va. undergraduate, graduate and post-doctoral students. The contest seeks to enrich the area’s entrepreneurial community by supporting innovative concepts with the potential to solve societal, health care and other problems.

The event is free and open to the public. For information, click here.

This year’s finalists are:

Medical Technologies/Health Care

Social Entrepreneurship

Consumer Goods & Services/B2B

Technology/Media/Telecommunications

U.Va. Wise