Newswise — AUSTIN, Texas – The University of Texas at Austin has a unique scholarship opportunity for startup founders interested in earning an MBA. Jon Brumley Texas Venture Labs (TVL) is now accepting applications for its annual MBA Scholarship Business Plan Competition. TVL will award two scholarships during a shark-tank style pitch competition at The University of Texas at Austin on February 24, 2017.

The TVL Scholarship is the only one of its kind — open to entrepreneurs who pursue an MBA at the McCombs School of Business. The scholarship provides an opportunity for entrepreneurs to earn their MBA while continuing to work on their startup. The benefits include scholarship dollars, startup advising and optional post-graduation employment at TVL.

Last year’s scholarships recipients were Josh Berrington and Will Wilder for their respective startups, Q’ello, a plant-based milk delivered directly to consumers, and Wilder Systems, a supplier of automated tools to the aerospace industry.

“The Texas Venture Labs Scholarship Competition gave me the opportunity to showcase my ideas and passion for entrepreneurship,” said Berrington. “McCombs has created a truly inspiring and supportive environment for budding entrepreneurs at all stages.”

The TVL Scholarship is part of the vast startup ecosystem at the McCombs School of Business which has a wide selection of classes, programs, and services focused on entrepreneurship. While attending McCombs, students can participate in experiential classes like New Venture Creation where they create in-depth business plans or the Texas Venture Labs Practicum where they can get experience working directly with local area startups.

“The Texas Venture Labs Scholarship Competition is one proof point of the program’s commitment to entrepreneurship. The entrepreneurial culture of Austin is infectious and extends perfectly into the program,” said Wilder.

Students also have an opportunity to raise venture capital for their businesses through the Texas Venture Labs Investment Competition (TVLIC). A couple notable startups from this program include uShip, Phurnace Software, and BeatBox Beverages. The scholarship application is now open and is due January 30. More information can be found on the TVL website.

ABOUT JON BRUMLEY TEXAS VENTURE LABSJon Brumley Texas Venture Labs at The University of Texas at Austin is a campus-wide initiative to accelerate both student and community startups in taking their innovations to market in order to transform graduate students into entrepreneurs and business leaders. Since 2010, TVL has worked with over 136 startups in a wide range of industries and 38 percent of these companies have gone on to raise over $380 million in funding. The program has worked with over 330 graduate students from the McCombs School of Business, the School of Law, the Cockrell School of Engineering, the College of Natural Sciences, and the College of Pharmacy.

For more information, contact: Ryan McKeeman, Texas Venture Labs Partner, 512-232- 6561