There are many seasons in our lives. Depending on your point of view some will say the traditional winter, summer, spring and fall. Others will tell you football, baseball, hockey and basketball. And I am sure I am leaving out many more.
In my mind this is the season of the Association of University Technology Managers (AUTM) 2012 Venture Pitch Competition. I was fortunate to be involved with the first competition last year at the AUTM Annual Meeting in Las Vegas and it was one of the most enjoyable and educational business plan competitions I have been involved with over my more than 20 years of participation in similar events. Starting with more than 35 applicants our expert judges narrowed the field down to a final eight and then to the final four who presented their plans to a select panel of venture capital judges. Endolumina was the winner of the AUTM 2011 Venture Pitch Competition and took away the prize of $10,000.
As we begin the 2012 season, I am once again fortunate to be working with the committee on the Second Annual
Venture Pitch Competition. As was the case last year, the finalists will present to a venture capital judging panel at the AUTM Annual Meeting (which will be held in Anaheim from March 14-17, 2012).
And we have a new twist to the competition this year. We heard your feedback fellow AUTM members and have opened the competition to all disciplines this year. So whether your company is considered life science, software, engineering-focused or even a game-based technology, all are welcome to submit. We have also instituted a new innovative online application process called iSTART. With iSTART applicants will be able to easily fill out the required information and our judges will see information in a more uniform manner to more easily compare one company to another.
However, the prizes have not changed. Our final presenters will all receive a $1,000 travel stipend and free registration to the AUTM Annual Meeting. We are pleased to report that the winner will still receive a $10,000 prize (and will be the subject of an AUTM press release – great exposure for your budding company!).
I welcome all of you to think of doing three things - attending the conference, submitting a plan for the competition or becoming a sponsor of the competition. With more than 1,600 attendees at the conference there is much to learn, and there will be many networking opportunities with the AUTM attendees which represent technology transfer offices and companies worldwide. To paraphrase Al Roker on the today show "find out what is happening in your neighbor's neck of the woods." I always find that I walk away from the conference with two or three action items that I can put into practice immediately upon returning to my office. The conference is also a great place for everyone, including those companies who are not a final presenter to interact with investors, other potential strategic partners or other entrepreneurs who may be able to help you out. A wealth of knowledge and expertise will be in Anaheim, make sure you don't miss out.
Another benefit for those who submit a plan is that even if you don't win, with AUTM using iSTART, you will have the opportunity to open your plan to all of the competition's judges across the country. Once in the database, you will have the opportunity to open access to numerous investors for potential review and investment.
So as we embark on the 2012 AUTM Venture Competition season, I challenge you to submit a plan and "show us what you got." Start submitting your application today. The
deadline for submission is Monday, November 21, 2011. You can apply here:
http://autmventure2012.istart.org/. Let me know if you have any questions and I hope to see you not only in your submissions but also in Anaheim.
Bob Creeden
Executive Director
Blackstone Entrepreneurs Network