On Tuesday, March 29, 2011, five teams of Calvin business and engineering students will compete in the fourth annual BizPlan competition. Student ideas range from indoor hydroponic gardening to a shared-use commercial kitchen and specialty foods retail store to a company that designs golf equipment for people with physical disabilities.
"We are trying to encourage students to have an entrepreneurial mindset, to be innovators," said Bob Medema, a Calvin professor of business.
The student teams have put together comprehensive business plans that address everything from corporate structures to marketing strategies to cost savings analyses. On March 29, the students will present their plans to a panel of expert judges at 7 p.m. in the Covenant Fine Arts Center Recital Hall.
"The value of a business plan is primarily in the process as opposed to the product," said Medema. "It forces the students to think through all of the issues that need to be considered and their interrelationships."
The judges will ask questions, offer constructive criticism and, eventually, determine the winner. The first-place team will be awarded a $1,000 cash prize and will represent the college at the regional business plan competition in April. The second, third and fourth place teams will split an additional $1,000.
The competition is funded by SoundOff Signal-a manufacturer of quality emergency, bus and commercial vehicle safety products-and through a grant from the Kern Entrepreneurial Education Network (KEEN).
For more information, contact Bob Medema at 616-526-6380 or rmedema@calvin.edu
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Received on Thu Mar 24 10:05:31 2011
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