POTSDAM – Clarkson University is looking at entrepreneurial ideas that could turn into free tuition for the idea presenters.

The university's Reh Center for Entrepreneurship and the Shipley Center for Innovation have launched the business plan competition that is now accepting applications.

Up to five participants will be offered an opportunity to attend Clarkson University without payment of tuition for the remainder of their four-year undergraduate careers, through a combination of merit-based financial aid (after accounting for other aid for which the student may be eligible) and a purchase by Clarkson of 10 percent equity in their firm at fair market value.

On Feb. 24, up to 10 finalists will visit campus to present their business or patentable idea to a panel of experts.

The program, featured in Money Magazine's September issue, also provides weekly guidance from Clarkson faculty, office space in the Peyton Hall incubator, and Clarkson alumni mentors.

Clayton native Matthew S. Turcotte, Class of 2014, who has a web-design business, has been in the Young Entrepreneurs since September 2010. "This is a once-in-a-lifetime opportunity and I feel fortunate that I attend a university that is as passionate about my business as I am and is so supportive," says Turcotte.

Applications for the Young Entrepreneurs and Innovators competition must be completed online at http://www.clarkson.edu/equity by Jan. 30, and must include a business plan and a 90-second video.