College students can win a share of $200,000 in prize money for statewide business plan competition

College students from around the state are being invited to step up to the plate and vie for the nearly quarter million dollars worth of cash prizes that are up for grabs in the 5^th annual Donald W. Reynolds Governor’s Cup Business Plan Competition. As an added incentive, for the second year, winners of Nevada’s Governor’s Cup will have the chance to compete with the winners of Arkansas and Oklahoma’s Governor’s Cup in the Tri-State Reynolds Cup competition.  The  combined cash prize pool for the two competitions total is nearly $200,000, and a winning business plan from a Nevada team could potentially take home a total of $53,500 in cash prizes.  Last year, for example, UNLV team WATTs (Waste-Alternative Transformation Technologies, LLC) won a total of $38,500.
 

Students must commit to the competition by February 16, 2009 and turn in completed business plans by March 16, 2009.  While the Governor’s Cup enjoys significant ongoing funding from the Las Vegas-based Donald W. Reynolds Foundation, Nevada’s Center for Entrepreneurship and Technology (NCET) is currently seeking local sponsors within the business community to ensure the continued success of this competition.

Students participating in the Governor’s Cup competition will first submit their business plans and have them judged in March.  Finalists will then present their business plans in Reno during the week of April 20, 2009 with an awards dinner following in Reno at the Peppermill on April 23.
 

First and second place undergraduate and graduate Governor’s Cup winners will then travel to the Red Rock Casino Hotel in Las Vegas on May 26-28, 2008 to compete for the Tri-State Reynolds Cup.  They will be competing against the Governor’s Cup winners from Arkansas and

The Governor’s Cup is open to all Nevada college and university students. Students can compete alone or with a team of up to six people.  Students from all academic disciplines are invited to enter, and interdisciplinary teams are encouraged.  Undergraduate and graduate students have separate competitions and prizes.  Last year 48 teams, representing virtually every Nevada college and university, entered the competition.

“Nevada’s economy is built on small businesses, and the Governor’s Cup helps encourage our college and university students to consider entrepreneurship,” said Governor Jim Gibbons. “We are proud to host the second Tri-State Reynolds Cup competition in Las Vegas, and I know that our Nevada students will give their best and make a strong showing.  We hope that the winners will go on to start Nevada-based businesses that will help grow our local economy.”

After twelve of the top collegiate teams from Arkansas, Nevada and Oklahoma vied for honors of best undergraduate and graduate business plans, the winners were announced to more than 150 attendees at the Awards Gala at the Red Rock Resort in Las Vegas on May 15 where the Donald W. Reynolds Foundation awarded $90,000 in prize money during the inaugural Tri-State Donald W. Reynolds Cup. The Tri-State Competition is co-produced by NCET, Nevada’s Center for Entrepreneurship and Technology.

UNLV’s WATTs team took second place — and the $15,000 cash prize — in the undergraduate competition, after being named Nevada’s first place undergraduate team AND winning the NCED Commissioners’ Award for the business plan that best addressed the economic development needs of rural Nevada. WATT’s team members are Keeton Little, Josh Beilin and Kyle George and their Faculty Advisor is Janet Runge.

Waste-Alternative Transformation Technologies, LLC (WATTs) was developed to provide a holistic approach to the waste management and energy issues facing modern urban communities. By utilizing a multi-faceted approach that maximizes usable products extracted from municipal, commercial and industrial waste, WATTs will reduce the ecological burden on traditional landfills while producing clean, sustainable energy and energy products that do not rely upon fossil fuel sources.

The first place undergraduate prize and $25,000 was awarded to Nantiox from the University of Oklahoma.

In the graduate competition, first place and the $25,000 cash prize when to MerchantEyes from the University of Arkansas Fayetteville. Second place went to Perpetual Pharmaceuticals from University of Oklahoma.

“These talented students and dedicated faculty embody the great entrepreneurial spirit for which (state) has long been admired,” said Dave Archer, NCET’s CEO. “I thank them for their dedication in this endeavor; this is a true testament to the bright future of our state and its business leaders.”

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View the complete list of winners here