Contact: Eric Whittington or Patricia Divine
(336) 758-5030 or (800) 722-1622
[email protected] or [email protected]
WINSTON-SALEM, N.C. - A two-minute elevator ride with a venture capitalist could mean the break of a lifetime for MBA students with the right business plan.
That is the premise behind the inaugural Babcock/Eno River Capital Elevator Competition: Get Your Venture Off the Ground. The competition will be April 8 at Wachovia Center in Winston-Salem. The event will be hosted by the Angell Center for Entrepreneurship at Wake Forest University's Babcock Graduate School of Management. Eno River Capital of Durham, N.C., and Wachovia Capital Associates of Winston-Salem will sponsor the event, which is organized by students at the Babcock School.
Teams of two MBA students each will compete by pitching their business ideas to a venture capitalist during a 28-floor elevator ride at Wachovia Center. The teams have the duration of the elevator ride to sell the venture capitalist on their business idea. All the students can leave behind when the ride ends is a business card.
Six teams will be selected to advance to the second round, a 20-minute question-and-answer session with a panel of venture capitalists. Finalists will be selected and invited back for conferences with representatives from one or more venture capital firms. The venture capitalists will serve as judges for the event. The winning team will receive a trophy and, possibly, funding for its business plan.
The competition is open to MBA students with an interest in entrepreneurship. Schools may enter three teams each. Each team must have a completed business plan. Students from Duke University, Georgia Tech, the University of Georgia, the University of Texas at Austin, the University of North Carolina at Chapel Hill and Wake Forest are entered.
More information is available at the Web site http://www.mba.wfu.edu/elevator.
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