Jones Journal -- Alumni Magazine of the Jones Graduate School of Management, Rice University

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Deanna Sheaffer, Editor
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Rice Alliance and Jones School Hosted the first Southwest Business Plan Competition
March 29-31, 2001
– By Trish Leggett, Staff Assistant, Rice Alliance

Gil Whitaker, Jerry Finger, and Steve Currall.

During the last weekend in March, nine business schools sent teams to the first Southwest Business Plan Competition. The competition, co-hosted by the Jones School and the Rice Alliance for Technology and Entrepreneurship, was the brainchild of Lecturer Dennis Murphree, who is also Managing Partner of Murphree Venture Partners.

MOOT CORP, the largest business plan competition in the world, has regional events in Georgia, Indiana, Nebraska, Oregon, and California. But there were no regional competitions in the southwestern United States.

Gil Whitaker talks to Suzanne Watson (l), part of the University of Michigan's team, which took second place in the competition (an award of $3,000, sponsored by Finger Interests).

With Dean Whitaker’s enthusiastic consent, Steve Currall, director of the Alliance, and Murphree traveled to Austin last spring, and received approval from Dr. Gary Cadenhead, Director of MOOT CORP, to hold a new regional competition at Rice University.

Cadenhead, who attended the resulting event this year, was pleased with the outcome. “It was an outstanding competition,” he said. “It was very effective in simulating the process of entrepreneurs asking venture capitalists for money.”

Dennis Murphree (far right) awards the grand prize of $5,000 (underwritten by Murphree Venture Partners) to the University of Georgia team.

While Currall was the director of the Rice competition, its organization was handled primarily by a group of Jones School MBA student volunteers. Over twenty students helped to plan and execute the weekend, led by Tom Stein (’02) the event coordinator and student director. Students called to confirm schools’ participation, found sponsors, produced programs, and worked on logistics, website, and photography, along with producing the database and cards used for scoring. When asked about the strong volunteer support, Stein replied, “The business plan competition presented a unique opportunity to meet and network with some experienced entrepreneurs and venture capitalists.” He also felt that many MBAs wanted to give something back to Rice and volunteering to help with the competition was a great way to accomplish that.

The schools represented this year were: Baylor University, Rice University, Southern Methodist University, Texas Christian University, Tulane University, the University of Arizona, the University of Georgia, the University of Michigan, and the University of Texas at Austin. The Rice team presented a business plan entitled “America 101” which outlined a new non-profit organization, something of a new twist for a business plan competition!

Finalists were announced Friday evening. The keynote speaker for the event was Adam Dell, Managing General Partner of Impact Venture Partners in New York. Todd Litton (MBA ‘01) solicited Dell’s participation. Dell spoke on “Information Networks & Venture Capital and Startup Markets” to a full house. The finalists, announced in alphabetical order, were Texas Christian University, University of Georgia, University of Michigan, and the University of Texas, Austin.

More than 45 judges participated from the Houston business community and around the country. Robert Winter from Menlo Park, CA., who spoke at an Alliance event last November 3, returned to judge the competition. “It was a pleasure being a part of the first Southwest Business Plan Competition,” said Winter. “I believe this beginning will only grow into a rich and important event for Rice as it pursues more entrepreneurial-oriented endeavors.” Winter said it was great fun to meet all the “charged” entrepreneurs as well as the other judges, and that he looks forward to judging again next year.

Event sponsorship included Ernst & Young, Fulbright & Jaworski, Haddington Ventures, Shell Oil, Shell Services International, Sternhill Partners, and Vinson & Elkins (event sponsors). Awards were underwritten by Murphree Venture Partners (the Grand Prize of $5,000), Finger Interests ($3,000 to the 1st runner-up), and Genesis Park/techQuest ($2,000 to the 2nd runner-up team). Food and service sponsors included: Fusion Café, Houston Technology Center, Jason’s Deli, La Madeleine, Pangea Design and Two Rows Restaurant. Wonderful crystal gifts for judges and speakers, as well as a special Val St. Lambert crystal owl presented to the Grand Prize winning team, were all donated by Ashford.com.

Saturday morning, the second annual Rice Alliance Business Plan Presentation Forum was hosted in Duncan Hall, which showcased business plans from faculty, staff, and undergraduates at Rice. After lunch, the final round of the Southwest Business Plan Competition began. Once scores were tabulated, the judges conferred and the winners were announced. The University of Georgia took first place, and will represent the Southwest regional competition at MOOT CORP.

Their plan, Zymex, centered around a new approach to the development of “lead compounds” (chemicals identified as affecting the underlying causes of various diseases/disorders) which can then be presented for animal and human FDA trials. Second place went to the University of Michigan, whose plan for ZAN outlined the development and marketing of a gel-based energy capsule specifically formulated to meet the needs of active women. Third place went to TCU for their plan SmartHealth, which outlined a card-payment method for health care services.

Dean Whitaker was pleased with the event. “It was a great learning experience for everyone involved,” he said, “and the students did a wonderful job of organizing everything. I’ve heard many positive comments.” He added with a smile, “Now that we’ve competed in this first competition, I suspect the Rice team will do much better next year.”

The Jones School and Rice Alliance are already planning the SWBPC 2002. For photos on this year’s event or for details on next year’s, visit the website at www.alliance.rice.edu/swbpc. To participate in the 2002 competition, write to alliance@rice.edu.