At the Rice Business Plan Competition, collegiate entrepreneurs get real-world experience in how to pitch their startups to investors, integrate with the entrepreneurial ecosystem, enhance their startup strategy, connect with mentors, and learn what it takes to launch a successful business.Rice University is guaranteed one berth in this competition.Three investors expressed interest in Kosmik Energy, the other Texas State team competing.
They did an extraordinary job, considering they had two days to prepare,” said Gary Beall, professor in the chemistry and biochemistry department.
Texas State University’s Natural Barrier Company (NABACO) team has been selected to compete against some of the world's top universities at the 19th annual Rice Business Plan Competition (RBPC) at Rice University in Houston, April 4-6.
More than 180 corporate and private sponsors support the business plan competition.
Angel investors, venture capitalists and other investors from around the country volunteer their time to judge the competition, with the majority of the 275 judges coming from the investment sector.
Update: Texas State’s NABACO team, presenting at Rice Business Plan Competition April 6-7, received a $75,000 NASA Space Exploration Innovation Award and a $25,000 Texas Business Hall of Fame Best of Texas Prize.
The team also won 0 for placing fourth in the wildcard round and had seven investor groups inquire about the project.
The competition is designed to give collegiate entrepreneurs a real-world experience to fine tune their business plans and elevator pitches to generate funding to successfully commercialize their product.
Judges will evaluate the teams as real-world entrepreneurs soliciting start-up funds from early stage investors and venture capital firms.
It was the most money ever awarded at the competition, which is in its 18th year. THE JUDGES: Houston high school students to test investment strategies at Rice business competition Each of the 42 competing teams took home a cash prize of at least 0.
The prizes were presented at a banquet at the Westin Galleria, concluding a three-day event that began April 4.