Clarkson’s program for young entrepreneurs accepting applications for ‘Unique Business Competition’
POTSDAM -- Clarkson University’s Young Entrepreneurs and Innovators Program has begun accepting applications for its 2013 Unique Business Competition.
Up to five competition winners 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 and a purchase by Clarkson of ten percent equity in their firm at fair market value.These students will remain responsible for other costs incurred in connection with attendance, including expenses such as housing, meals, books and supplies.
In addition, these students’ businesses will receive the services of the Reh Center for Entrepreneurship and/or the Shipley Center for Innovation, advice from alumni mentors, and will be offered space at no charge in the Peyton Hall incubator. Up to five additional finalists will also receive services from the Reh and/or Shipley Centers and be offered space at Peyton Hall.
Marc Compeau, Reh Center director, expects another strong competition this year.
“Last year’s finalists brought a variety of interesting ventures and innovations to campus. We were blown away by the high level of success many young entrepreneurs have achieved,” Compeau said. “We look forward to raising the bar again this year as we offer more equity for scholarship exchanges.”
“I am amazed at the level of creativity and passion the students bring to the competition and was impressed with the background work each had done in preparation for the competition,” said Matthew Draper, deputy director of the Shipley Center.
Applicants must submit a completed business plan, a 90-second or less video that answers the question “Who am I, outside of my business?” and a brief description of their business. Entries will be reviewed by the staff of the Reh and Shipley Centers or faculty with expertise related to the proposals.
Draper said potential applicants should be prepared to discuss a vision for their business or innovation and its feasibility.
For consideration, prospective or current Clarkson students who either are operating a business or have a commercial innovation in mind must apply by Jan. 15. Anyone not already enrolled at Clarkson must also apply for admission to the university. Applications are available at www.clarkson.edu/equity.