Tuesday, March 10, 2009

IMS to Host Different Kind of Race

The "Nascent 500: Business Plan Challenge" could be referred to as "The Greatest Spectacle in Business Plan Contests." Hosted by Ball State's Entrepreneurship Center, it attracts students from universities across the U.S. and Canada to the Indianapolis Motor Speedway on 20 March.

Twelve semi-finalist teams are selected to participate (based on submitted business plans), and are awarded $500.

Next, they get 500 words to earn pole position and 500 seconds (about 8 minutes) to pitch their business plan in the back of a limousine as it travels around the Indianapolis Motor Speedway.

Four teams advance to the "Homestretch" round and present their plans for a chance to win more than $18,000 in prizes.

The winning team receives a victory lap around the Indianapolis Motor Speedway, a quart of milk, and $10,000.

It's too late to enter for this year's competition, but check out the guidelines so you'll be ready for next year!

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