Student entrepreneurs have an opportunity to show off their work at the annual Student Entrepreneur of the Year awards on Oct. 3 in the Joseph Smith Building auditorium.
The Collegiate Entrepreneurship Organization is accepting applications for the competition until today at 2 p.m. Judging will continue through September until the final three winners are announced Oct. 3.
The awards recognize and award the entrepreneurial spirit of students who have achieved success in the field, said John Richards, associate director of CEO.
Winners will receive cash prizes and free assistance from accounting and marketing firms, according to the CEO Web site.
"Some of the greatest businesses in the area and around the country have been founded by university students," Richards said. "For example, Omniture was founded by two BYU students and is now among the fastest growing software companies in the world."
The award process benefits applicants since their businesses receive an increasing level of exposure as they advance in the competition, said Derek Pando, president of the BYU chapter of CEO.
"We usually get around 1,000 people at the final event, including investors," Pando said.
Previous winners include Tyler Tiberius, whose company, Tiberius Arms, specializes in less lethal weapons and paintball equipment, and Jonathan Coon for 1-800 Contacts, according to CEO's Web site.
Ethan Heintzelman won last year with Elite Express, a parcel delivery company in Ecuador. His company is competing nationally this year.
The award for entrepreneurship differs from the annual business plan competition. While the business plan competition awards students for outstanding plans and then helps them implement the plan, the entrepreneurship award recognizes students who have already implemented a plan.
Ryan Applonie, CEO's vice president of public relations, said many business plan competition winners go on to compete in the student entrepreneur awards after they have implemented their plan.
In fact, whether or not the company is turning a profit will be a significant criterion in selecting a winner, Richards said.
"We are going to be emphasizing and weighting the revenue more than previously," he said.
Copyright Brigham Young University 16 Sep 2008
