Registration for the 2014 McGinnis Venture Competition, a cross-campus team entrepreneurial challenge where students compete for prizes totaling $60,000 in investments, is now open. This competition is made possible by a generous endowment from Gerald E. McGinnis, chairman, CEO and founder of Respironics, Inc., and is conducted by the Carnegie Mellon Center for Innovation and Entrepreneurship.
The competition is open to all Carnegie Mellon University undergraduate and graduate students and is intended to spotlight and advance the commercialization of CMU student created, managed and owned ventures. Non-CMU students may participate as members of a team, as described in the competition’s eligibility details, however CMU students must deliver the majority of the team’s pitching and must serve as CEO, CTO or COO of each venture.
Registration will close at 5 p.m. on Monday, December 9, 2013, whereby an executive summary and video pitch, for evaluation during Round 1, will also be due. Round 2, another virtual round, will be held in January 2014 and the competition will culminate with a live-final round celebration beginning on March 6, 2014.
Throughout the competition, the student participants will interact with alumni entrepreneurs and venture capitalists, which may help to raise to raise capital and will also provide opportunities to strengthen their company’s strategic planning and positioning.
The inaugural McGinnis Venture Competition was originally founded and hosted by the Tepper School’s Donald H. Jones Center for Entrepreneurship in 2004 as an international competition. The proceedings were reorganized in 2013 by the CMU Center for Innovation and Entrepreneurship to increase the event’s focus and outreach toward innovations and collaborations occurring across the CMU campus. In 2013, three teams shared top honors: Playpower Labs, SolePower, and Lumator. A description of the completion and winners can be found here.