04/24/2014 02:18 PM
BATON ROUGE – The LSU Student Incubator will award $25,000 cash to six student-run startups at the culmination of the 3rd Annual Venture Challenge on Friday, April 25, from 1-4 p.m. in the LSU Student Union’s Atchafalaya Room.
The Venture Challenge showcases LSU’s brightest student entrepreneurs and provides their businesses with access to the capital and resources needed to achieve long-term success.
“With help from the Venture Challenge and the LSU Student Incubator, Frosted has branched out into new business territory,” said Kyle Anderman, past Venture Challenge Finalist and founder of Frosted Cupcakes, a gourmet cupcakery in the LSU area. “We are now selling packs of cake balls to companies across Baton Rouge and doubled our profits.”
The four finalists were selected from a total of 14 student teams that submitted their business plans for the first round of the Venture Challenge competition. A panel of 18 judges, consisting of local business professionals and entrepreneurs, evaluated and scored the plans to select which teams would advance to the live final round.
The final event will include a live-pitch competition among the four Venture Challenge finalists and a Startup Showcase display, which will feature LSU Student Incubator startups. The event will conclude with an awards ceremony where a total of $25,000 will be distributed among six student businesses, including the four Venture Challenge finalists and two businesses from the coinciding Startup Showcase. A panel of judges will score the presentations to determine the cash amount that each finalist should receive from a total of $23,500. Meanwhile, the audience will vote on their top two favorite displays from the Startup Showcase and the winner and runner-up will receive $1,500 total.
Admission to the final round is free, but guests must register in advance at www.vc14.eventbrite.com. The LSU Student Incubator has reserved parking in the LSU Student Union Parking garage for all attending guests. Those who are unable to attend the final round can follow @LSUStudentInc on Twitter for live-tweet updates. Everyone is encouraged to engage in the LSU Student Incubator’s Twitter chat using #LSUVC.
For more information on the 3rd Annual Venture Challenge, visit www.facebook.com/LSUStudentIncubator.
About the LSU Student Incubator
The LSU Student Incubator assists students with business idea development to create a post-graduation career option. The program was launched in 2010 and has supported over 50 student-run startups annually. The incubator provides students with one-on-one consulting, business planning software, professional mentors and speakers, an Elevator Pitch Competition, the Annual Venture Challenge and other valuable resources needed to start and grow a business. The LSU Student Incubator is a program of the Louisiana Business & Technology Center at the LSU Innovation Park, which endeavors to enhance economic development in Louisiana by supporting and developing small businesses. For more information on the LSU Student Incubator visit www.studentincubator.lsu.edu.
Contact Jennifer Fowler
LSU Student Incubator
Posted on Thursday, April 24, 2014