News Release: Applications open for Rice Business Plan Competition

By Newsroom America Feeds at 19 Dec 2017

https://us.vocuspr.com/Publish/523718/vcsPRAsset_523718_85120_3c9695eb-03fb-4f99-a31c-8fee35dce79e_0.jpg Rice University Office of Public Affairs / News & Media Relations

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Jeff Falk 713-348-6775 jfalk@rice.edu

Mary Lynn Fernau 713-348-5374 mlfernau@rice.edu (mailto:mlfernau@rice.edu)

Applications open for Rice Business Plan Competition World’s richest and largest student startup competition adds more prizes

HOUSTON – (Dec. 19, 2018) – Applications are now open for the 18th annual Rice Business Plan Competition (http://rbpc.rice.edu/) , which will be April 5-7 at Rice University’s Jones Graduate School of Business. Graduate students with an idea for a new startup company are encouraged to apply to compete.

http://news.rice.edu/files/2017/12/1219_RBPC-2bp48uh.jpgForty-two teams from the world’s top universities will be selected to vie for a prizes expected to be more than $1.5 million. The deadline for applications is 5 p.m. CST Feb. 9. Students will need to submit an executive summary and an optional one-minute video pitch through the competition’s website, http://rbpc.rice.edu (http://rbpc.rice.edu/) . All applications will be reviewed by a selection committee comprising select members of the entrepreneurship and investment community.

More than 500 teams are expected to apply to compete in four categories: life sciences/medical devices/digital health; digital/information technology/mobile; energy/clean technology/sustainability; and other innovations. A cohort of more than 275 judges will select the winner based on the company that represents the best investment opportunity.

Top prizes in 2018 are expected to be similar to last year and include the $300,000 Investment Grand Prize from The GOOSE Society of Texas; the OWL Investment Prize, which totaled $200,000 in 2017; $125,000 Houston Angel Network (HAN) Investment Prize; and $200,000 TiE Houston Angel Investment Prize. The 2018 grand prize-winner will ring the closing bell at the Nasdaq MarketSite in New York City.

Cisco is again offering a prize at the competition. The $100,000 Cisco Global Problem Solver prize aims to recognize entrepreneurs that promote and accelerate the adoption of breakthrough technologies, products and services that capture the value of technological innovation to benefit society. Special consideration will be given to businesses that capture this value while simultaneously benefiting society and/or the environment.

The RBPC will again award a $50,000 Department of Energy Cleantech prize, and the winner will advance to compete in the DOE Cleantech University Prize Competition in June 2018.

New this year is the chance for an RBPC team to advance to the Cleantech UP Competition in the Department of Defense track. The team with the best operational energy technology (energy required for training, moving and sustaining military forces and weapons platforms for military) will advance to the national competition with a chance to win $35,000.

A goal of the RBPC competition is to encourage more women to start up venture-fundable, technology-based startups, and nCourage Entrepreneurs Investment Group, a group of successful women angel investors, will provide an investment prize to the top startup with female founders. Last year, the group offered two prizes that totaled $65,000.

The Texas Medical Center Accelerator, TMCx, offered two investment prizes totaling $50,000, plus a guaranteed spot in their accelerator, while the Texas Business Hall of Fame provided a $25,000 cash prize to the top finishing team from Texas. NASA provided a $20,000 Earth/Space Human Health & Performance Innovation prize.

More than 200 former competitors have successfully launched their ventures and are still in business today, including 25 startups that have been acquired. Past competitors have raised over $1.7 billion in capital and created more than 3,000 new jobs.

“The true measure of success for the Rice Business Plan Competition is the number of teams that launch, raise funding and go on to succeed in their business,” said Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship at Rice University, which hosts the event. “The competition has served as the launch pad for a great number of successful entrepreneurial ventures, and the success rate far exceeds the national average.”

For more information on the 2018 Rice Business Plan Competition and application information, visit http://rbpc.rice.edu (http://rbpc.rice.edu/) .

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For more information or to arrange an interview with a competition representative, contact Jeff Falk, associate director of national media relations at Rice, at 713-348-6775 or jfalk@rice.edu (mailto:jfalk@rice.edu) . The media contact for Cisco is Kati Dahm, 650-248-1226 or kadahm@cisco.com (mailto:kadahm@cisco.com) .

Follow the Rice Business Plan Competition via Twitter @RBPC (http://twitter.com/RBPC) .

Follow Rice News and Media Relations via Twitter @RiceUNews (http://twitter.com/riceunews) .

The Rice Alliance for Technology and Entrepreneurship is Rice University’s nationally recognized initiative devoted to the support of technology commercialization, entrepreneurship education and the launch of technology companies. It was formed as a strategic alliance of three Rice schools: the George R. Brown School of Engineering, the Wiess School of Natural Sciences and the Jesse H. Jones Graduate School of Business. Since inception, more than 2,000 early stage companies have participated at the 170+ programs hosted by the Rice Alliance and raised more than $4.7 billion in funding.

Located on a 300-acre forested campus in Houston, Rice University is consistently ranked among the nation’s top 20 universities by U.S. News & World Report. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy. With 3,879 undergraduates and 2,861 graduate students, Rice’s undergraduate student-to-faculty ratio is 6-to-1. Its residential college system builds close-knit communities and lifelong friendships, just one reason why Rice is ranked No. 1 for quality of life and for lots of race/class interaction and No. 2 for happiest students by the Princeton Review. Rice is also rated as a best value among private universities by Kiplinger’s Personal Finance. To read “What they’re saying about Rice,” go to http://tinyurl.com/RiceUniversityoverview.

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