12-1-98

Contacts:
Ben Allen, College of Business, (515) 294-2422
Gary Koppenhaver, College of Business, (515) 294-8119
Kevin Brown, News Service, (515) 294-8986

ISU MBA STUDENTS VIE
IN BUSINESS PLAN COMPETITION

AMES, Iowa -- A panel of entrepreneurs, lenders and economic development officials will review three student- created business plans in the final round of Iowa State University's College of Business' 1998 Graduate Competition in New Venture Planning Dec. 10.

The three business plans and their authors are: "Crypto Corporation," by Remus Ilies and Rainer Mues; "Innovative Medical Devices, Inc.," by Jeffrey Etringer and Surya Loonker; and "Integrated Purchasing Partner," by Valerie Weise and Todd McGuire. All students except Etringer are enrolled in ISU's master of business administration degree program. Etringer is an undergraduate student in the College of Engineering.

Program leader, Gary Koppenhaver, associate professor of finance, said the panelists will determine first place worth $8,000, second place at $4,000 and $2,000 for third. He said the event is held to provide incentives for entrepreneurship.

"Given the success of last year's competition, in which students affiliated with the colleges of agriculture, business and engineering were winners, I expect a strong showing," Koppenhaver said. "Some of the hottest entrepreneurs across the country are found on college campuses. Iowa State is no different, especially with the volume of patents generated here."

The competition is the centerpiece of the program that challenges graduate students to create the best business plan for a new company. The place winnings are to be used to help bring those profiled businesses into production.

Businesses for which the plans are created can be based on a licensed technology from the Iowa State University Research Foundation (ISURF) or a concept developed by the students.

College of Business faculty reviewed several proposed business plans submitted in mid-October of this year from which these student proposals were selected.

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Revised 12/1/98