Student teams that vie for the $25,000 grand prize to seed their venture will receive comprehensive business mentoring and attention from industry partners and investors.
Hosted by UCSB’s Technology Management Program, the annual entrepreneur competition has matured into a high-octane event that has launched successful technology start-up companies such as Inogen, Phone Halo, and Active Life Scientific. Executives from local Central Coast companies partner with TMP as sponsors and mentors for the teams, which include graduate and undergraduate students at UCSB.
Participants are closely mentored through an intensive 5-month process to learn about successful technology venture creation from executive leaders, lawyers, and other seasoned professionals. Through a series of workshops and advisor meetings, students are trained in evaluating business opportunities, working with customers, market validation, product roll-out, managing finances, business law, and management.
“By the competition finals in May, we’ve got newly trained entrepreneurs presenting innovative business models to potential partners and angel investors,” said Bob York, Director of UCSB’s Technology Management Program. “Our teams go on to launch start-ups in software, medical electronics, sustainable technology, and many other industries.”
This year’s New Venture Competition Finals, held on May 9 at UCSB’s Corwin Pavilion, will be open to the public to cast their vote for the “People’s Choice Award” among competition entries from students.
“Thanks to our sponsors and investors, and the spirit of our participants, these students have a significant head start in business,” commented York. “Our supporters are the backbone of this competition, and it makes a difference for the students.”
Learn more about participation in UC Santa Barbara’s New Venture Competition online at www.tmp.ucsb.edu/nvc/. Support the next generation of technology entrepreneurs as a sponsor or mentor by contacting Mike Panesis, Program Manager, at (805) 893-3008 or firstname.lastname@example.org.