News Column

NYIT to Host Regional Round of State Business Plan Competition

February 12, 2014

NEW YORK, Feb. 12 -- The New York Institute of Technology issued the following news:

Hundreds of student entrepreneurs from across New York City and Long Island will pitch their ideas to "angel investor" judges next month as New York Institute of Technology hosts a regional round of the 2014 New York State Business Plan Competition.

The competition will be held at NYIT Auditorium on Broadway on March 28. Winners from six categories will move into the statewide finals on April 25 in Albany, with hundreds of thousands in prize money at stake.

Students pitch their business plans to panels of investors and industry experts who judge the plans on "technical feasibility and scalability," according to the competition's website. Categories include: Biotechnology/Healthcare, Energy/Sustainability, Information Technology/Software, Nanotechnology/Advanced Technology, Products/Services, and Social Entrepreneurship/Non-Profit.

Last year, a team of two NYIT sophomores took home $1,000 and a "People's Choice" award at the finals for their plan for a project to convert water bottles into roofs for shelters. In 2012, two NYIT teams won People's Choice and Judge's Choice awards.

Joanne Scillitoe, associate professor and director of NYIT's Center for Entrepreneurial Studies, said she was pleased that NYIT is repeating its role as regional host following last year's successful event.

"It's a big deal - we're building our name for entrepreneurship," Scillitoe said. "We'll have students from all over New York City on more than 100 teams."

Four teams from the School of Engineering and Computing Sciences are preparing to enter, and Scillitoe says she expects other NYIT teams - particularly from the School of Management -- to register by March 18.

The engineering students have designed innovative products in their Entrepreneurship Path Senior Design Project course, part of a pilot program funded by a National Collegiate Inventors and Innovators Alliance grant. The goal of the program is to help engineering students become "industry ready" and aware of the need to manage their inventions and innovations in the marketplace. The NYIT program encourages interdisciplinary collaboration between the School of Engineering and Computing Sciences and the School of Management.

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Source: Targeted News Service

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