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Student entrepreneurs show off business skills at Governor's Cup Wednesday, Apr 12, 2006 By Wesley Brown Arkansas News Bureau LITTLE ROCK - Some of Arkansas' brightest students will vie for top honors today in what has become of one the most competitive and prestigious collegiate business skills contests in the nation. Student entrepreneurs from colleges and universities across the state will attend the annual Donald W. Reynolds Governor's Cup luncheon to learn if they will win a portion of $104,000 in prize money for the best business plans. Michael Eskew, chairman and CEO of United Parcel Service, will be the keynote speaker of the event at the Statehouse Convention Center. Hope native Mack McLarty, former Arkla chairman and one-time chief of staff for President Clinton, will serve as the honorary chair. Sam Walls, CEO of Arkansas Capital Corporation Group, said the event has enjoyed phenomenal growth, with a record 61 teams entered in this year's competition. "Every year we raise the bar and this year is the best ever," Walls said, "and we have the chairman of a national corporation as our keynote speaker." In this year's competition, developed by Arkansas Capital and funded by the Donald W. Reynolds Foundation, each student team developed a seed, startup or early-stage venture that laid out the business from top to bottom. Judges from across the state chose 18 semifinalists during the final round of competition last week. The winning graduate and undergraduate teams each will receive $20,000. Second-place teams get $10,000 and the third-place teams will take home $5,000. The faculty advisers of the three winning teams, along with the other five semifinalist teams, receive $1,000 each. A special "technology" award of $10,000 will be split between one undergraduate and one graduate team that best incorporate the use of technology. Walls said one thing that distinguishes the Arkansas business plan competition from other similar contests around the nation is that it is sponsored and supported by the private sector, not a university. Also, the student contest is paired with the annual awards luncheon, which allows the business community to participate and show its support for the state's top business students. This year, sponsors include Alltel Corp., Dillard's, Murphy Oil Corp., Stephens Inc., Tyson Foods, The Pinnacle Group and UPS, the world's largest package delivery company. "The award event is about an opportunity to convey a message that you can be successful in Arkansas and be proud of what Arkansas is doing," Walls said. |
