Student entrepreneurs wanted to compete for $225,000 in prizes

SUNYIT is seeking college student entrepreneurs to participate in the fourth annual New York Business Plan Competition. The deadline for submission of applications for the 2013 competition is Friday, March 1. Teams of students pitching their innovative ideas will compete in a regional semifinal round of the contest at SUNYIT on April 10, 1-5 p.m., in the Student Center multipurpose room. Like the popular network TV reality show “Shark Tank,” the competition will reward would-be entrepreneurs with the most compelling pitch—and the best business plan.

Sponsored by the State University of New York (SUNY) and State Employees Federal Credit Union (SEFCU), the program encourages student-led start-ups from accredited colleges throughout the state to submit business plans for a variety of business and industry innovations. Student team efforts are judged by national venture capitalists, angel investors, investment bankers, and entrepreneurs; more than $225,000 in prizes is awarded to winning teams. Regional semifinal rounds—one in each of the state’s 10 regions—are new to the competition this year. Winners of the regional events will go on to compete in the final round on April 26 at UAlbany’s College of Nanoscale Science & Engineering (CNSE). For more information about the program and to submit an application, visit cnse.albany.edu/NewYorkBusinessPlanCompetition.aspx.

In 2012, the grand prize winner was Strong Arm Technologies, a company made up of students from Rochester Institute of Technology that took home $50,000 in cash and $20,000 in in-kind services for developing an advanced, wearable harness system that helps a person lift heavy objects safely. The New York Business Plan Competition, presented by CNSE in partnership with the University at Albany School of Business, the Lally School of Management and Technology at Rensselaer, and Syracuse University, is coordinated through a collaborative network of more than 25 colleges and universities including SUNYIT, Clarkson University, the University of Rochester and Rochester Institute of Technology, Canisius College, Cornell University, Marist College, New York Institute of Technology and Long Island University.