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Rachel Finley
574 TNRB
Brigham Young University
Provo, UT 84602
(801) 422-3598
prspecialist@byu.edu

New Competition Focuses on Innovative Web Business Ideas

The Rollins Center for eBusiness will host the inaugural installment of the Web Business Idea Competition (WEBIC), 11 October through 16 November, which will award cash prizes to the top eight web business ideas submitted by student participants.

The competition, which grew out of a vision by Kevin Rollins, former CEO of Dell Inc. and founding donor of the eBusiness Center, is designed to find the next big web-based business.

“Kevin Rollins has said that the internet has only affected us 5 percent as much as it will impact us,” says John Richards, managing director of the center. “He encouraged us to do things that prepare students for an increasingly digitized and networked world, including finding the next Google or YouTube or Facebook business model/idea right here on BYU’s campus.”

The competition is open to all BYU students and will allow participants to enter as many ideas as they want through a secure web site, http://webic.byu.edu.

As part of a kickoff event for the competition, John Richards will speak on 11 October on the defining characteristics of a good idea for a web-based company. The first round of judging will narrow the field to sixty ideas. Students will then have to present their idea to a panel of industry professionals in a three minute “elevator pitch” format. The top eight will go on to the finals where they will present to a live audience and another panel of judges.

Cash prizes will be given to all of the finalists with first place receiving $3,000, second place $2,000, third place $1,000, and the rest $100 each. The eBusiness Center will also award a variety of additional prizes.

“I think the competition is one of the most innovative ideas that the eBusiness Center has come up with,” says Sandino Roman, student lead for the competition. “BYU is a very entrepreneurial-minded campus; we are expecting to see some very great and innovative ideas. Our plan is to take the ideas and guide students into the Business Plan Competition in the winter semester.”

For any questions about the competition, please contact the WEBIC committee at webic@byu.edu.