Champion will win at least $20,000 for a dream business

Ivy Tech Community College−Northeast announced the 2012 New Venture Competition will begin in mid-March and will be open to all Ivy Tech−Northeast students and alumni. This business plan contest will award at least $20,000 in startup capital to one student or alumni for his or her dream business.

Previously, the New Venture Competition was only open to students and alumni of the college’s School of Business. Last year’s winner, Olivia Fabian, won more than $29,000 to put toward her business, OFabz Swimwear.

“The New Venture Competition is an excellent opportunity for students to start their own businesses.” said James Tolbert, business administration faculty and coordinator for the New Venture Competition. “This year has several improvements. One is that we are inviting our students and alumni from all programs to participate, and secondly we are adding more partners who will be working with us in terms of mentoring students, so we have more community assets coalescing around the event.”

The contestants will create and refine a business plan through an internship-style class. After meeting with community mentors, three finalists will make investor presentations at an awards ceremony in early June. A panel of local business managers, faculty, partners and sponsors will select the champion according to which business they feel is most likely to succeed.

The New Venture Competition is possible due to a generous $20,000 donation from JB Tool, Die & Engineering, Inc. The competition is also in collaboration with Northeast Indiana Innovation Center, The Greater Fort Wayne Chamber of Commerce and Fort Wayne SCORE.

“Ivy Tech seeks to change lives and make Indiana great by helping students and alumni become successful entrepreneurs,” said Tolbert. “Rather than training students to get jobs, Ivy Tech is training students to create jobs.”

For more information about the New Venture Competition, visit IvyTech.edu/northeast/newventure.