The hefty sum can be won in a business competition sponsored by USM’s Center for Entrepreneurship and Small Business.
The Student Business Plan Competition is designed to promote the entrepreneurial spirit and recognize small business ideas at USM. Applicants must form teams, submit a business plan and present that plan.
Only one team will win the $10,000.
But all students will take something from the experience, said Valarie Lamont, director of the Center for Entrepreneurship and Small Business.
“The contacts you make can help you get started, even if you’re not a winner,” she said.
Any USM student is eligible to participate in the competition.
All teams must have at least one current graduate or undergraduate student.
Alumni, faculty, staff and member of the private sector can also join the team.
“The private sector response has been just as good as student response,” said Lamont.
The idea for the business plan, however, must come from a student. The business idea must be realistic and reasonable.
Late last week there were 11 teams registered. The final deadline for the competition is tomorrow. Teams that apply after the deadline will be evaluated on a case-by-case basis.
Staff Writer Missy Remillard can be contacted at [email protected]