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Ready Or Not

Entrepreneur, Sept, 2001

THE TRENDS OF TODAY SHAPE THE BUSINESS PLAN COMPETITIONS OF TOMORROW. CAN YOUR COMPANY TAKE THE SCORCHING HEAT?

Thinking of entering a business plan competition? We asked the experts to give us the skinny on what's hot right now-so listen up.

* "Last year was the year of dotcoms. This year, people are still looking at ways to utilize the Internet, but they're moving away horn the B2Btype industry. For the most part, we're headed back to brick-and-mortar and manufacturing. We [also] see a very strong life sciences and biotech [trend]."

Anne Stamer, associate director of the Wharton Business Plan, Competition

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* "We see a lot of teams that have a very strong technology focus and background. They're dealing with things they've worked on in labs for a number of years and are now ready to commercialize. One strong take-away from this year--and hopefully for next year-is that entrepreneurship really lives on at MIT in terms of the number of people who want to found companies and who are very confident that now is a great time to start a company."

Elad Gil, leader/organizer of the 2001 MIT $5oK Entrepreneurship Competition

* "No dotcoms and higher quality overall. [Compared to last year,] we re seeing somewhat fewer plans and a very strong emphasis on technology-based enterprises."

Jerome S. Engel, executive director of the Lester Center for Entrepreneurship & Innovation, Hans School of Business, UC Berkeley

Business Services Industry

Ready Or Not

Entrepreneur, Sept, 2001

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