Winnings from local business plan competition

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Reference no: EM132086531

Read this article on Business Insights Essentials and answer the following questions:

How Winning Contests Helped a Startup Beyond the Launch

Entrepreneur (Online ed.)

Abstract

Entrepreneur Kris Appel funded her startup Encore Path with her $10,000 winnings from a local business plan competition. The money was used to hire a consultant and lawyers for the development of Tailwind, a rehabilitation equipment for stroke survivors. Appel says she learned of the Maryland contest for women-owned businesses in 2006 and won in March 2007. Appel adds that she has entered eight contests and won over $20,000 in services and cash. She also believes that winning has given her business credibility. She advises entrepreneurs to get some coaching when entering such contests to refine their business plans.

Goodman, Michelle. "How Winning Contests Helped a Startup Beyond the Launch.(Encore Path)(Interview)." Entrepreneur (Online ed.) (Nov 2011): NA.

An area of great interest is the ownership of student-generated intellectual property. Students involved in business plan courses and competitions have immense potential to conceive and prototype product, process, system, and service concepts within the university environment. Faculty members facilitate the innovation process in the context of their employment as university professionals. This research focuses on who actually owns the intellectual property generated. Surveys show that students feel that they own their ideas and are reluctant to share ownership with their faculty mentors. Do you agree that students own student-generated intellectual property? Explain.

Reference no: EM132086531

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