WELLESLEY, Mass., March 6, 2013 /PRNewswire-USNewswire/ -- Babson College has launched the 2013 B.E.T.A. Challenge, Babson's 'alternative' business plan competition, which this year gives alumni as well as student entrepreneurs their chance to win $20,000.
Winners in three categories -- alumni entrepreneurs, undergraduate entrepreneurs and graduate student entrepreneurs -- will each win a grand prize of $20,000 in cash and "services in kind" donations from corporate sponsors. In addition, $2,500 will be awarded to the two other finalist ventures in each of the three competitions.
The B.E.T.A. Challenge is Babson's 'alternative' business plan competition where entrepreneurs must demonstrate success in reaching major milestones achieved through action. It builds on Babson's branded teaching method -- Entrepreneurial Thought & Action or ETA(r) -- and on the idea that entrepreneurs are made, not born. B.E.T.A. challenges entrepreneurs to lead at all stages, levels and types of organizations, and to bring a range of skills to bear on Entrepreneurship of All Kinds(tm).
Alumni evaluators review and score submitted materials on-line. Several groups of 10-12 Babson College alumni evaluators will review each entrepreneur submission, and assign a numeric score to each. The numeric scores from all evaluators will then be tabulated and six semifinalists at the graduate, undergraduate and alumni levels will be selected based on the highest average score.
On April 3, 2013, during the Venture Expo (B.E.T.A. Challenge Semifinals), semifinalists will be given an opportunity to interact with community members. Each semifinalist will get a "booth" to use at their own discretion. Community members will be able to vote which company they would like to see participate in the finalist round. Semifinalists will deliver a 60-second elevator pitch to a panel of judges. Judges will determine the 3 finalists at the graduate, undergraduate and alumni levels who will present at the finals on Thursday, April 11, 2013.
On April 11, 2013, the B.E.T.A. Challenge Finals will take place featuring presentations by finalists to a panel of judges - judges who will determine the winner of the competitions. All finalists will present a 60-second pitch at the awards celebration where the winners will be announced.
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Babson Alumni and Friends Network - Babson has a worldwide alumni, parents, and friends network of more than 33,000 graduates. This expansive network spans all 50 states, Washington DC, Puerto Rico and the US Virgin Islands and is found in 110 other countries around the world.
The Babson Alumni Association (BAA) works to ensure that there are opportunities for all alumni to feel connected to Babson.
Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds(r). The College is a dynamic living and learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society -- while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action(r) as the most positive force on the planet for generating sustainable economic and social value. For information, visit www.babson.edu.
Michael Chmura, email@example.com, 781-239-4549
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SOURCE Babson College