Gov. Bob McDonnell to host Business Plan Challenge

economic-forecast-headerGov. Bob McDonnell today announced that he will host the Governor’s Business Plan Challenge in Richmond May 2, 2013.  In recognition of Virginia’s strong entrepreneurial environment, the statewide challenge will spotlight the best business plans or concepts crafted by undergraduate students this year.  Public and private Virginia colleges and universities are invited to send their top presenters to Richmond for the Governor’s Business Plan Challenge.

“In last year’s ‘Year of the Entrepreneur’, we recognized and celebrated the business leaders who turn big ideas into reality,” McDonnell said. “In the same spirit, we are partnering with The Richmond Times-Dispatch and Work It, Richmond to invite student entrepreneurs to participate in a statewide competition to present their business plans to a group of Virginia-based entrepreneurs. Virginia’s entrepreneurial economy is alive and well. Undergraduates across the Commonwealth are developing new and innovative products, ideas for services and concepts that are sure to transform current industry. The Governor’s Business Plan Challenge is an exciting way to encourage these students who are on the front lines of a new industry. The next great Virginia company might be just an idea in a dorm room or a lab right now.”

“Academic rigor and entrepreneurial spirit demonstrated on the campuses of Virginia’s colleges and universities are key to the continued economic competitiveness of the Commonwealth,” commented Secretary of Commerce and Trade Jim Cheng. “The Governor’s Business Plan Challenge is a tremendous opportunity for our students to shine and potentially turn a simple idea into an emerging company in Virginia.”

“Virginia’s colleges and universities continue to display tremendous leadership by cultivating an entrepreneurial culture necessary to equip our next generation of job creators.” said Secretary of Education Laura Fornash.

“As one of the Commonwealth’s largest employers, Capital One is proud to invest in Virginia’s future business leaders,” said Jack Forestell, executive vice president, digital, at Capital One. “This unique partnership will help foster and encourage business skills development, entrepreneurship, and innovation, which will pay dividends for Virginia businesses as we prepare the workforce of tomorrow.”

“Clients tell us that what they need today is for all partners to bring a strong business acumen and an entrepreneurial spirit to the table to help their business grow. That’s why Williams Mullen is excited to be a part of this challenge to the future leaders of Virginia,” says Thomas R. Frantz, president and CEO of Williams Mullen.

The Governor’s Business Plan Challenge will be held in Richmond on Thursday, May 2, 2013. Each institution is invited to send one undergraduate business plan that may be presented by an individual or by a group. Participants will compete to win up to $10,000 to be used to further develop their business model in Virginia. The students competing will have access to mentors and entrepreneurial experts who will help coach their team and provide advice on starting a business.

For more information about the challenge and to register, visit:

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