An Exciting Seed Capital Opportunity for Student Entrepreneurs!
WE ARE NOW ACCEPTING BUSINESS PLANS FOR THE 2014
JAMES D. SCHEINFELD ENTREPRENEURIAL AWARDS COMPETITION
Individual Awards up to $15,000!
DEADLINE FOR SUBMISSION OF A BUSINESS PLAN FOR
THE 2014 SCHEINFELD AWARDS COMPETITION
IS MIDNIGHT, FRIDAY, JUNE 6TH, 2014
PRESENTATIONS TO THE JUDGES SCHEDULED FOR JUNE 17TH, 2014
Grow your start-up or early stage business venture. The James D. Scheinfeld Entrepreneurial Award Fund was established through the generosity of Mr. James D. Scheinfeld with the primary purpose of encouraging venture development in Wisconsin by providing seed capital for student ventures.
In the current year, a maximum of three awards may be made. Any single venture, if selected, may receive an award ranging between to $5,000 to $15,000, although an award above this range may be made in the case of exceptionally promising ventures. It is also possible that no awards may be made in a given funding cycle if the submitted applications are assessed to be not a strong fit with the Fund’s selection criteria.
The James D. Scheinfeld Entrepreneurial Awards are generally made in one of two formats: they may be made as “honor loans” to be repaid to the Fund if and when recipients are financially able to do so, to enable the Fund to make similar awards to future generations of student entrepreneurs; or with consent of the UWM Foundation, the awards may also take the form of equity participation in student ventures (e.g. stock or stock warrants).
In the current year, the Fund can potentially award up to a maximum of $25,000 in total for highly deserving ventures by Lubar School students.
The competition for seed capital awards from the Fund is open to current undergraduate and graduate students in the Lubar School of Business and other schools and colleges at the University of Wisconsin-Milwaukee. However, consistent with the donor’s wishes, all venture teams must include at least one Lubar School student. For the purposes of the awards, a current student is defined as one who was enrolled in undergraduate or graduate courses at UWM during Summer 2013, Fall 2013, or Spring 2014.
Awards of seed capital for student ventures from the Fund will be based on the following criteria: (a) business viability of the start-up venture; (b) scalability and potential for growth and job creation; (c) ability of the venture to attract other sources of financing (from team members themselves, family friends, banks, angel investors etc.); and (d) launch readiness.
DEADLINE FOR SUBMISSION OF A BUSINESS PLAN FOR THE 2014 SCHEINFELD AWARDS COMPETITION IS MIDNIGHT, FRIDAY, JUNE 6TH. All venture teams entering the competition are required to submit a comprehensive business plan and, if selected, make an oral presentation of the business plan to the Entrepreneurial Awards Committee. Business plans should be a maximum of 30 pages in length. Up to 20 additional pages of appendices may be included. Included in the appendices should be a minimum of three years of financials, reported by month and by year.
A cover letter, that includes the following information, should accompany the business plan submission:
- An executive summary of your business.
- Team captain’s name, email address, home address, phone number, year in school, and major
- Same information as above for all other team members (Remember your team must include at least one current student from the Lubar School of Business)
Debbie Roy, Program Manager
Lubar School of Business
The Entrepreneurial Awards Committee will review each business plan submitted and then select those individuals/teams who will be invited to orally present their plan. All oral presentations are limited to 15 minutes, followed by 15 minutes of Q&A by the Entrepreneurial Awards Committee. The date for the 2014 Scheinfeld Awards oral presentations is June 17, 2014.
Entrepreneurial Awards Committee
The 2014 Entrepreneurial Awards Committee is made up of Lubar School and UWM faculty and staff with expertise in entrepreneurship, and members of Milwaukee’s entrepreneurial community:
- Professor V. Kanti Prasad, Scheinfeld Awards Competition Director and Bostrom Professor of Entrepreneurship, Lubar School of Business
- Professor Janice Miller, Associate Dean, Lubar School of Business
- Professor Satish Nambisan, Professor of Innovation & Technology Management, Lubar School of Business and College of Engineering and Applied Science
- Mr. Brian Thompson, President, UWM Research Foundation
- Mr. Paul Stewart, Partner, PS Capital Partners
- Mr. Jim Hunter, Founder & CEO, MII Equipment Inc.
Additional Relevant Information
Although used in the context of other competitions, the following informational sources may be helpful in developing a business plan:
INDIVIDUAL AWARDS UP TO $15,000!