(Nov. 19, 2009)--UTSA business and engineering students are competing today for $100,000 in business-related services and prizes at San Antonio's largest business planning competition, the UTSA 100K Student Technology Venture Competition. Hosted by the UTSA Center for Innovation and Technology Entrepreneurship (CITE), the biannual event promotes entrepreneurship by pairing engineering students who create viable new technologies with business students who create business plans to market the technologies through a viable start-up.
Six teams of UTSA business and engineering students are competing in this year's event. Their companies represent a variety of new technologies with applications in transportation, health, fire safety and mining. The teams will be judged by local academic, business and entrepreneurial experts on their business plans, new technology and presentations. At the close of the daylong competition, some of the winning teams will have the opportunity to sell their companies.
"To our knowledge, this is the largest new business competition in San Antonio," said Cory Hallam, CITE director. "Since our first competition two years ago, the business community has really stepped up to help our students launch their companies. With the help of our sponsors, we're now offering students $100,000 in services and prizes including consulting services, marketing services, office space and other benefits."
The competition is sponsored by the Texas Research Technology Foundation, Cox|Smith, Harvard Business School Club of San Antonio and San Antonio Technology Center. UTSA established the competition when faculty observed that UTSA engineering students were developing new technologies and business students were writing business plans, but neither group of students was doing anything with their efforts beyond turning in projects for a grade. With the competition in place, UTSA students now are developing marketable technologies and forming viable new companies based on those technologies, all before they graduate.
"The tech start-up competition is a great experience for our students," said Hallam. "The format gives them a chance to experience what it's like to be an entrepreneur -- before they graduate and before they have mortgages or bills to worry about."
About the competitors
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