The Utah Entrepreneurial Challenge contest selects 27 semifinalists

The Utah Entrepreneurial Challenge, an annual contest among student teams to develop a workable business venture, has selected its 27 semifinalists. The remaining contestants will compete for a $40,000 prize.

More than 200 teams entered the contest this year, from which the 27 semifinalists were chosen. Those teams will receive assistance from a professional mentor to develop their business plans, which will be presented on March 11. In addition to the $40,000 grand prize, nearly $100,000 in secondary prizes and in-kind services will be awarded.

For more information about the 2005 semifinalists, visit http://www.uechallenge.com.

The Utah Entrepreneur Challenge is a seven month program that will culminate in April. Beginning in October, students can attend educational forums to learn from professionals about Business Plan writing, Marketing, ProForma/Accounting, Intellectual Property and Writing Executive Summaries. To compete in the UEC, teams must register on our website. The registration deadline is in January. The first round of competition is in February when teams are required to submit an executive summary. In March, semifinalist’s teams will be matched up with mentors to help them develop and submit a full-length business plan.

The time frame is carefully designed to enlighten the students competing in the Challenge and to strengthen bonds between students and business professionals. The Challenge is designed to be a group effort. Everyone involved in the UEC is part of the team: the student leaders, mentors, sponsors, local business professionals, and you – the competing student.