UTSA students compete for $100K in prizes in tech venture competition

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(April 21, 2010)--UTSA business and engineering students will compete for $100,000 in business-related services and prizes at San Antonio's largest business planning competition, the UTSA $100,000 Student Technology Venture Competition. The competition will be from 1 to 3 p.m., Saturday, April 24 in Buena Vista Street Building Room 1.326 at the UTSA Downtown Campus. The event is free and open to the public.

The biannual competition, hosted by the UTSA Center for Innovation and Technology Entrepreneurship (CITE), promotes student entrepreneurship by pairing engineering students who create viable new technologies with business students who create business plans to market those technologies through a viable start-up.

Ten teams of UTSA business and engineering students are competing in this year's contest. Their companies represent a variety of new technologies with applications in renewable energy, smart electronic devices, healthcare and transportation. The teams will be judged by local academic, business and entrepreneurial experts on their business plans, new technology and the team's presentation. At the close of the daylong competition, some of the winning teams will have the opportunity to start and sell their companies.

"To our knowledge, this is the largest undergraduate new-business competition in Texas, and the only competition of its kind in San Antonio," said Cory Hallam, CITE director. "Since our first competition three years ago, the business community has really stepped up to help our students launch their companies. With the help of our sponsors, we're now offering students $100,000 in prizes including consulting services, marketing services, office space, intellectual property protection and other benefits."

The competition is sponsored by the Texas Research Technology Foundation, Cox Smith Attorneys, Harvard Business School Club of San Antonio and San Antonio Technology Center.

"The tech start-up competition is a great experience for our students," said Hallam. "The format gives them a chance to experience what it's like to be an entrepreneur -- and adding this context to their education is what differentiates them and UTSA as a premier university."

CITE is an interdisciplinary center in the UTSA College of Business and the College of Engineering. The center focuses on fostering the growth of entrepreneurs and new technology-based ventures through a process of education, experiences, resources and support.