What’s the Big Idea?

December 1, 2014

For the second year, the Warrington College of Business Administration, along with its Center for Entrepreneurship & Innovation (CEI), is sponsoring The Big Idea Gator Business Plan Competition. Intent-to-Compete forms are now being accepted for the Apr. 23-24, 2015, event. The competition is open to all UF students, regardless of their major.

Last year’s inaugural event attracted more than 140 entries. A trio of engineering students whose company developed a portable water purification device was awarded the $25,000 grand prize.

The deadline to submit Intent-to-Compete forms is Dec. 15. Participants must provide contact information and a brief description of their proposed venture or concept. Eligible teams must have at least one full-time, enrolled UF student (2014-15 academic year) who has a meaningful equity stake and leadership role in the venture as a member. Students who do not have a team, but are interested in collaborating with others, may submit a form to join an existing team.

Basic business models and plan overviews are due in Feb. 2015. Semi-finalists will provide complete business plans and deliver presentations to a panel of judges in April.

CEI will work with contestants on developing their ideas into complete business plans through its Business Plan Lab, which is open to all UF students and can be taken for course credit. Judges will review the plans based on concept strength, market, economics of the business, operations, management team and financing.

In addition to the $25,000 first-place prize, $10,000 will be awarded to the second place finisher and third place will receive $5,000. Additional smaller prizes will also be awarded.

For more information, including how to enter the competition, please visit http://warrington.ufl.edu/centers/cei/bigidea/. You may also call 352-273-0330 or email BigIdeaCompetiton@warrington.ufl.edu.