Tulane Business Plan Competition seeks conscious capitalists

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The Tulane Entrepreneurs Association kicks its 2011 Tulane Business Plan Competition up a notch with a new competition and a $50,000 top prize for the company with the best sustainable business model rooted in the ideals of conscious capitalism.

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Sunil Bhardwaj and Sameer Hajee won the grand prize of $50,000 in last year's Tulane Business Plan Competition with their plan for Nuru Light, a conscious capitalism venture that distributes affordable rechargeable lights in Africa.

“Conscious Capitalism incorporates the principles of social entrepreneurship which are based on the belief that one can do good for the world while doing well for oneself,” says Tulane Entrepreneurs Association (TEA) President Chris Williams. “With this in mind, we feel that New Orleans is the perfect city to host the competition that highlights this progressive concept.”

The competition, organized by students at Tulane University’s A. B. Freeman School of Business, offers the biggest cash prize of any student-run business plan competition in the country and is the only business plan competition in the nation dedicated to the principles of conscious capitalism.

The contest attracts applicants from top-tier universities across the United States and internationally. Any business venture can apply as long as one of the principals is an enrolled student at an accredited university. The deadline to apply is Jan. 23. Three rounds of judging will take place beginning in late January.  The top three teams will be invited to present their plans before a panel of judges and a live audience on Friday, April 8, at the Freeman School.

This year, thanks to the support and sponsorship of a successful real estate development firm founded by two Tulane business school alumni, TEA is expanding the contest to add a new prize that focuses specifically on New Orleans. The Domain Companies New Orleans Entrepreneur Challenge, which is sponsored by The Domain Companies, will award $20,000 to the company that presents the best plan for the creation or expansion of a New Orleans-based business that demonstrates strong growth potential and positive local impact.

For more information about this year's competition and details on how to enter, visit www.tea.tulane.edu.

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