According to Entrepreneur Magazine, the Rice Business Plan Competition holds over $1 million in awards from venture capital firms, angel investors and corporate sponsors, and features 42 two-to-five person teams of university students from around the world. The final deadline for submissions was last week, and finalists will be announced March 11.
Since 2001, the competition has launched almost 130 companies that are still currently operating – a notable alum includes Auditude, a video advertising platform which was purchased by Adobe for $120 million in 2011. Last year’s winner, NuMat Technologies of Northwestern University, smoked the competition based on their innovative method to store and transport natural gas, and also won the first ever U.S. Department of Energy National Clean Energy Business Plan Competition.
Even if you didn’t get to submit a plan this year, you still may want to head down to Houston for the three day event. Rice’s campus will be a hub for investor money, big names and big ideas from April 11-13.