Tulane Business Competition a good bet for budding entrepreneurs

If you’re a budding entrepreneur, thinking about taking the plunge into a startup, then you might want to head to Tulane on Friday for the live, final round of the Tulane Business Plan Competition.

The winner walks away with $50,000, while onlookers get business tips at a free panel of entrepreneurial experts.

Three finalists were chosen from business plans submitted by 76 teams from 45 universities and five countries. Each finalist will present to the audience and a panel of judges who will offer constructive feedback and ideas for resources, contacts, and connections. The finalists are:

Drop the Chalk (Tulane University; profiled recently on NolaVie), which creates web-based software that enables teachers to use data to improve student performance;

OsComp Systems (Massachusetts Institute of Technology), which has developed a new compression technology that decreases the energy required to compress and transport natural gas;

Pathostat, LLC (University of Arizona), which has developed a patent-pending medical device for use during cancer surgery that enables the surgical oncology team to precisely excise and assess cancerous tissue.

The $50,000 cash prize will provide financial support to advance the winning entrepreneurial student’s career. The annual business plan competition is open to students with ideas for ventures that will effect positive change in communities throughout New Orleans and the world. The competition is restricted to plans that adhere to the principles of social entrepreneurship and conscious capitalism, a major focus of the Tulane Entrepreneurs Association (TEA) and Tulane University.

This year, TEA has a new partner to the competition. The Domain Companies will be awarding a $20,000 cash prize to the plan that demonstrates the most economic impact in New Orleans. The final three locally based teams selected to compete in the final round of the Domain Companies New Orleans Entrepreneur Challenge are:

Drop the Chalk (Tulane University), description above;

Rebirth Financial, Inc. (Tulane University), which allows entrepreneurs seeking capital to skip bankers and make a pitch directly to individual lenders;

Surround Sound Accompaniment (Tulane University), which allows the solo musician the option to surround him/herself with an orchestra, as if playing with the Philharmonic.

The Tulane Business Competition takes place from 9 a.m. to 2 p.m. Friday at Goldring/Woldenberg Hall II, A.B. Freeman School of Business at Tulane University. It is free and open to the public.

The final rounds of competition will take place Friday, April 8,2011 in Goldring-Woldenberg Hall II (GWII) at the Freeman School of Business. Presentations from the competition finalists will take place between 9 a.m. and noon. After a lunch break, from 1 to 2 p.m., the Tulane Entrepreneurs Association will host a panel discussion on entrepreneurship. The panel of speakers will consist of final round judges. The event is free and open to the public.