Rice Business Plan Competition Announces Administaff as Title Sponsor
World’s Richest and Largest Business Plan Competition slated for April 15-17, 2010
HOUSTON - (Feb. 2, 2010) – The Rice Business Plan Competition is pleased to announce that Administaff has expanded its role to become the title sponsor of the 2010 competition that will be held on April 15-17, 2010. The Rice Business Plan Competition is the largest and richest business plan competition in the world. Forty-two of the top graduate schools from around the world will compete for more than $800,000 in prizes, including equity investment. The grand-prize winner will receive a total package worth $325,000, including over $245,000 in cash/investment funding and $80,000 in services.
“The competition is a perfect fit for Administaff, a leading provider of human resources (HR) services,” said Brad Burke, managing director of the Rice Alliance. “Administaff serves as a full-service HR department for the best small and medium-sized businesses. More than 85 past competitors have successfully launched their companies after competing at Rice and raised over $150 million in early-stage funding. These are high-growth companies that can all benefit from Administaff’s HR and business services.”
The competition is hosted by the Rice Alliance for Technology and Entrepreneurship (Rice Alliance) and the Jesse H. Jones Graduate School of Business at Rice University.
Administaff has supported the Rice Alliance and Rice Business Plan Competition for several years. The Houston-based company is itself an entrepreneurial success story and helped build the professional employer organization (PEO) industry beginning in 1986 when it opened for business. Administaff now assists other entrepreneurial small and medium-sized businesses become more successful through its services and support of the business community.
“The key to an economic recovery is the entrepreneurial spirit of small business, which creates the most jobs and economic growth in our country,” said Jay E. Mincks, Administaff executive vice president of sales and marketing. “Administaff’s commitment to helping small and medium-sized companies succeed is reflected in its support as title sponsor of the 2010 Rice Business Plan Competition. In its 10th year, the competition is a proven vehicle for helping to launch the next generation of successful entrepreneurs and high-growth enterprises.”
Key 2010 Competition Dates:
- Friday, February 26, 2010
- Thursday, March 11, 2010
- April 15-17, 2010
- Competition Dates at Rice University, Houston, TX
About the Rice University Business Plan Competition
The 2010 Rice Business Plan Competition (RBPC) will award more than $800,000 in cash and prizes to the 42 teams that compete in front of more than 200 judges at this year’s competition on April 15-17, 2010. More than 600 individuals will attend the sold-out awards banquet where the winners will be announced on Saturday, April 17, 2010 at the Intercontinental Hotel in Houston..
The 42 teams are selected from more than 350 applicants, based on their business viability and growth potential and their attractiveness to venture capital investors. The competition provides an opportunity for these aspiring entrepreneurs to raise seed funding, network with potential investors, win prize money, and gain valuable mentoring from successful investors and entrepreneurs. The 200 members of the judging panel are venture capital investors, angel investors, private equity investors, successful entrepreneurs, and other business leaders.
More than 85 past competitors have gone on to successfully launch their business, raising more than $150 million in early-stage funding. The percentage of successful start-ups is increasing each year. Of the 2008 competitors, 70% of the teams successfully launched their companies, and in 2009, 80% of the teams were successful in launching their companies. The 2009 winner, Dynamics, with a revolutionary new credit card technology, went on to raise $6 million in venture capital funding five months after the competition.
More about the competition: www.alliance.rice.edu/rbpc .
Administaff is the nation’s leading professional employer organization (PEO), serving as a full-service human resources department that provides small and medium-sized businesses with administrative relief, big-company benefits, reduced liabilities and a systematic way to improve productivity. The company operates 50 sales offices in 23 major markets. For additional information, visit Administaff’s Web site at http://www.administaff.com .
The Rice Alliance for Technology and Entrepreneurship
The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) is Rice University’s nationally-recognized initiative devoted to the support of technology commercialization, entrepreneurship education, and the launch of technology companies. It was formed as a strategic alliance of three schools: the George R. Brown School of Engineering, the Wiess School of Natural Sciences and the Jesse H. Jones Graduate School of Business.
Since inception, the Rice Alliance has assisted in the launch of more than 250 start-ups which have raised more than half-a-billion dollars in early-stage capital. More than 750 companies have presented at the 115+ programs hosted by the Rice Alliance.
- 2009 #5 U.S. Graduate Entrepreneurship Program – Princeton Review and Entrepreneur magazine
- 2009 Outstanding Center for Entrepreneurial Leadership & Excellence in Specialty Entrepreneurship Education - GCEC
- 2009 Outstanding Specialty Entrepreneurship Program – USASBE
- 2009 Marketer of the Year – American Marketing Association
- 2008 Houston’s Greatest Economic Development Ally – Greater Houston Partnership
- 2007 Outstanding Enterprise Creation Award – GCEC
For more information about the Rice Alliance, visit www.alliance.rice.edu.
Mary Lynn Fernau
Rice Alliance for
Technology & Entrepreneurship