KSU Team ties for first place in "Elevator Pitch" business plan competition

A team from the Michael J. Coles College of Business at Kennesaw State University tied for first…

Georgia (Apr 6, 2001) — KSU Team ties for first place in "Elevator Pitch" business plan competition

Staff

Abstract

A team from the Michael J. Coles College of Business at Kennesaw State University tied for first place in the second annual "Elevator Pitch" business plan competition in Winston−Salem‚ N.C.‚ March 31. Another KSU team made it into the finals‚ finishing third.



MBA students from two dozen universities competed by spending two minutes riding an elevator with a venture capitalist in the Babcock/Eno River Capital Elevator Competition: Get Your Venture Off the Ground. The idea was to give students a feel for what a "real world" venture capital pitch is like. The event was hosted by the Angell Center for Entrepreneurship at Wake Forest University's Babcock Graduate School of Management. Eno River Capital of Durham‚ N.C.‚ and Wachovia Capital Associates of Winston−Salem were among the sponsors for the event.



The KSU team‚ Legacy Data Access Inc.‚ tied for first place with a team from the University of Georgia. Legacy Data Access President Shelly Peters is in the Career MBA program at the Coles College of Business at Kennesaw State University. Peters¹ business partner is David Moore. The company‚ which is already generating revenue‚ offers an innovative solution to healthcare organizations for the storage and retrieval of legacy computer system data. LDA Inc. seeks to link legacy environments with web−enabled technologies in order to preserve the value of detailed transaction and clinical system data and to protect the investments made in legacy computer systems.



Legacy Data Access Inc. will compete in San Diego State University¹s 12th Annual International student business plan competition‚ Venture Challenge 2001‚ April 10−13.



KSU¹s success highlights the need for an endowment to help fund expenses for students to travel to business plan competitions.



"Everyone is aware of the need for college athletic teams to travel to competitions‚" says faculty advisor Jim Herbert. "But students traveling to business plan competitions often have to pay expenses out of their own pockets."



To offset the cost of travel to future competitions‚ KSU is organizing a fundraiser Tuesday‚ April 24‚ 2001 at the Howard Logan Stillwell Theater on the KSU campus. Entertainment will be provided by Alan and Robert Schaefer¹s band‚ Another Man Down. The Schaefers were able to afford to become full−time musicians because KSU MBA candidates helped them develop a business plan‚ which allowed them to grow and sell their Tourdates.com venture for $12.5 million last year.



A leader in innovative teaching and learning, Kennesaw State University offers more than 150 undergraduate, graduate and doctoral degrees to its approximately 38,000 students. With 13 colleges on two metro Atlanta campuses, Kennesaw State is a member of the University System of Georgia and the third-largest university in the state. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the region and from 92 countries across the globe. Kennesaw State is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 6 percent of U.S. colleges and universities with an R1 or R2 status, and one of the 50 largest public institutions in the country. For more information, visit kennesaw.edu.

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