Finalists Named in UA Business Plan Competition for African-American Students

TUSCALOOSA, Ala. — The University of Alabama African-American Graduate Student Association’s 2006-2007 Business Plan Competition for African-American Students has named the top seven finalists who will present their plans to a panel of judges on Friday, Feb. 23 from 8:30-11:30 a.m. in 111 AIME Building.

The finalists will present full business plans to a panel of judges; they will make 15-minute presentations detailing the major points of their business plans, followed by Q&A from the judges.

The final presentation event is open to the public.

The winning business plans will be announced and prizes given at an awards banquet sponsored by the Centre for Entrepreneurship, to be held during African-American Heritage Month and Entrepreneurship Week, Feb. 24-March 3.

“The goal of the event is to encourage the idea of entrepreneurship among African-American students at the University of Alabama,” explained Del Smith, president of the AAGSA.

The Business Plan Competition for African-American Students started last semester with several teams of students submitting a business concept that describes a proposed business. The business concept was used to determine which students were invited to submit a full, detailed business plan for the competition.

The judges include: Harrison Parrish, vice chairman of the board and senior vice president of Movie Gallery; Ted Innes, senior vice president and chief marketing officer for Movie Gallery; Dr. James King, assistant professor of management; and, Dr. Will Jackson, Smith Foundation Chair in Business Ethics and Integrity (appointment starting fall 2007).

Awards will include a grand prize of $2,500, made possible by the UA African-American Graduate Student Association; the first runner-up prize of $1,000, made possible by the Culverhouse College of Commerce and Business Administration; and the second runner-up prize of $500, made possible by the UA Black Faculty and Staff Association.

In addition to the prize money, Smith added that, “Participants will also receive valuable feedback from experts in the entrepreneurial community and gain confidence in taking the next step in the process of new venture creation. We know that some prominent investors are closely watching the results of the competition.”