The Fourth Annual West Virginia Collegiate Business Plan Competition (WVCBPC) will take the next step toward finding the newest state collegiate entrepreneurs February 19-20, as 10 finalists from four different West Virginia educational institutions compete for two $10,000 prizes.

As part of the competition, the West Virginia University (WVU) Entrepreneurship Center will host a weekend workshop for the 10 finalist teams looking to transform their visions into reality when the two winning teams are announced in April. The finalists represent four statewide institutions of higher education including Glenville State College, Marshall University, University of Charleston, and West Virginia University.

GSC freshman Devon Maher’s business plan was selected as one of ten finalists for the competition. Maher, a GSC freshman from Winchester, Virginia, is a Business major with a minor in Information Media Studies. He was selected as a finalist in the Life Styles Category for his business plan ‘Devon’s Dirt Cheap Compost’ that uses worms to produce high quality but inexpensive compost.

The workshop affords participants the opportunity to interact with successful business professionals as well as seek their advice and guidance on their business ideas as they work toward advancing their business plans.

“The weekend workshop is the main educational component of the Business Plan Competition,” said Mindy Walls, WVU Entrepreneurship Center Director. “It gives participants the chance to receive individual help from state entrepreneurs and work through issues they are facing in planning their businesses.”

Coaches, participants and speakers from all over the state will be welcomed on Friday evening, February 19th with an evening dinner at the Waterfront Place Hotel followed by tips from past participants and advice from state business leaders. Law students from the WVU Entrepreneurial Law Clinic will also be on hand to provide legal consultation to all finalist teams.

The workshop weekend continues on Saturday morning, February 20th, at the WVU College of Business and Economics, as teams will work all day with coaches to develop their business strategies in preparation for the final round of competition that will be held April 9-10.

The WVCBPC spans the entire academic year and typically begins early in the fall semester. The competition traditionally draws full-time students from institutions of higher education statewide.

This year, ninety-eight applicants from seven colleges and universities throughout the state submitted proposals to be considered for the competition. The field was narrowed to twenty competitors, who were then invited to participate in the second round of competition in November. As a result of second round judging, ten finalists were selected to advance to the final round of competition, which results in the awarding of two $10,000 prizes. The two winning teams also receive professional business services, which they use to go on to build small businesses within the state.

Finalists are encouraged to enroll in an online entrepreneurship course through the WVU College of Business and Economics designed to support their efforts in an academic setting.

“The use of distance learning gives participants in this competition the opportunity to get advice on all aspects of their businesses,” Walls said. “Plus, they get to interact live as part of the process, which is quite valuable to the teams.”

The WVU Business Plan Competition expanded to all four-year institutions statewide in 2006 with the goal of promoting entrepreneurship in higher education by providing leadership, skills training, and peer support to students interested in building small businesses in West Virginia.

Glenville State College is becoming a regular at the finals of the West Virginia Colligate Business Plan Competition. This marks the third consecutive year that a GSC student has been invited to the finals of the competition.

For more information on the West Virginia Collegiate Business Plan Competition, visit the Entrepreneurship Center website at: http://www.be.wvu.edu/bpc or contact Director Mindy Walls at mfwalls@mail.wvu.edu or via phone at (304) 293-7861.