Media Release

 
March 25, 2009
 
Aspiring businesses vie for funding at IBK Capital/Ivey Business Plan Competition

12 teams chosen to compete from 80 entries

LONDON, ON, March 25, 2009 - Up-and-coming entrepreneurs could get a head start with the $25,000 grand prize in the 2009 IBK Capital/Ivey Business Plan Competition on March 27 & 28 at the Richard Ivey School of Business.

Twelve teams have been chosen from universities across Canada to compete in front of judges drawn from venture capital, consulting, technology and asset management companies. With a total of $40,000 in cash prizes, this student-led business plan competition is designed to promote entrepreneurship at Canadian business schools.

What makes this contest especially exciting is that new businesses often get their start here.

This year's top finalists are from the University of British Columbia, The University of Western Ontario, McMaster University, the University of Toronto, Queen's University, the University of Alberta and the University of New Brunswick.

One of the finalists, Prometheus Power Systems is a Richard Ivey School of Business New Venture Project by Matthew Busbridge and Joseph Mocanu. The team has just placed first at the National Business & Technology Conference Entrepreneurship Competition this past weekend at the MaRS Discovery District in Toronto.

Prometheus walked away with the top prize of $20,000 of consulting services to help the founders refine their strategic plan. PPS has identified an innovative method of monetizing commercial rooftop assets.

Sponsors of the 2009 IBK Capital/Ivey Business Plan Competition include IBK Capital and Covington Capital.

Winners go on to represent Canada at the Global Moot Corp® Competition - the world's largest student business plan competition held annually at The University of Texas at Austin. There, they will have the opportunity to compete against MBA students from around the world for up to US$100,000 in cash and prizes to start their new venture.

About the Richard Ivey School of Business, The University of Western Ontario
The Richard Ivey School of Business at The University of Western Ontario (www.ivey.ca) offers undergraduate (HBA) and graduate degree programs (MBA, Executive MBA and PhD) in addition to non-degree Executive Development programs. Ivey has campuses in London (Ontario), Toronto, and Hong Kong. Ivey recently redesigned its curriculum to focus on Cross-Enterprise Leadership - a holistic issues-based approach to management education that meets the demands of today's complex global business world.

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For more information, please contact:
Mary Weil, Manager, Media & Public Relations, Richard Ivey School of Business,  416-203-0664, mweil@ivey.uwo.ca