Whitman School, Falcone Center for Entrepreneurship announce call for submissions for 2013 Panasci Business Plan Competition

The Falcone Center for Entrepreneurship and the Department of Entrepreneurship and Emerging Enterprises (EEE) in the Whitman School of Management have announced a call for submissions for the 2013 Panasci Business Plan Competition. The competition accepts business plan ideas from graduate and undergraduate students in all schools and colleges at SU and SUNY-ESF. The two-day competition will take place April 12-13.

“Panasci is one of the premier campus-wide business plan competitions in the country. It brings together some of Syracuse University’s best and brightest who have a unique idea and have done the hard work of putting together a thoughtful business plan,” notes Terry Brown, executive director of the Falcone Center for Entrepreneurship. “Over the past several years, the competition has become more intense as the quality and creativity of business ideas has significantly improved.”

On the first day of competition, 16 semi-finalist teams will be chosen to present to a panel of expert judges. Finalists will then compete for the grand prize on the second day. The top three teams, chosen based on their plan’s potential for growth and attraction of outside financing, are awarded prizes of $25,000, $10,000 and $5,000, respectively.

Additional financing is awarded to three teams deemed to have an idea with the greatest potential for positive impact on society and the natural environment (Fetner Prize in Sustainable Enterprise: $5,000); the greatest positive social impact (Holtz Prize in Global Entrepreneurship: $5,000); and the idea that exhibits leading-edge technology and innovation (Goldberg Prize in Technology & Innovation: $2,500).

Throughout the spring semester, teams will work to write a comprehensive business plan. EEE faculty members will work with students to improve their business plans for the competition in a weekly business plan laboratory. The Falcone Center also offers special sessions with partnering accounting and law firms, providing financial presentations and critical guidance in areas such as intellectual property.

To participate, intent to compete and entrant certification forms are both due by Jan. 1, 2013. Printed copies of the forms are available at the Falcone Center, Suite 116 in the Whitman School. To register, visit whitman.syr.edu/Centers/Falcone/Student/Panasci/Register.asp.

Notable winners of previous Panasci competitions include thriving businesses Dream Water, an all-natural liquid sleep supplement; Rylaxing LLC, named one of America’s Coolest College Start-ups by Inc. magazine; and James Barrett Co., an apparel company.

The Panasci competition is made possible by support from Henry A. Panasci, founder of Fay’s Drugs and former chairman of Cygnus Management Group, a venture capital and management consulting firm.

For more information, contact Lindsay Wickham, Falcone Center events and communications manager, at 315-443-3550 or lwickham@syr.edu.