The University of Mississippi's Center for Innovation and Entrepreneurship is accepting applications for the 20th annual Gillespie Business Plan Competition, scheduled for Friday, April 12th. The final deadline for entries to the competition is Thursday 28th March.
The competition is a cornerstone of the university's entrepreneurial environment, welcoming students from all disciplines and backgrounds to pitch their innovative business ideas.
“The Gillespie Business Plan Competition, emanating from the Center for Innovation and Entrepreneurship within the School of Business, is open to all Ole Miss students, regardless of major.” CIE Co-Director Clay Dibrell said.
Contests typically have 35-45 participants. For first place, she will receive $20,000 and office space at Insight Park. For second place, she will receive $10,000, and her four second-place finishers will each receive $1,250. Entrants to the competition will also be automatically considered for various additional prizes, which are detailed on her website for the competition.
“To accommodate these participants, we will be awarding more than $70,000 in prizes to non-winners,” Dibrell said.
Previous winners have had great success in launching their own business ideas and encouraging other students to participate through the competition.
“Winning the Gillespie Business Plan Competition really grew my business. I was able to make connections with the judges, fellow contestants, and through the judges.” Gillespie Business Plan Competition 2023 2019 winner Claire Ficek, CEO and founder of Altar'd Socials, said:
Ficek, a general marketing communications major, used the competition as an opportunity to launch her business and build relationships with other entrepreneurs. Ficek said his total income has doubled since he won the 2023 contest.
“I would tell anyone competing this year to act like it's a networking event all day long,” Ficek said. “There will be a lot of executives at the venue, and they'll want to know what you do. They could be your future boss.”
One of the key objectives of this event is to remove barriers to entrepreneurship and enable students to pursue their passions. By opening the competition to all students, the university aims to foster a culture of entrepreneurship that transcends traditional boundaries.
“The goal of the 20th Annual Gillespie Business Plan Competition, as it was when it first began, is to provide student entrepreneurs with new business ideas an opportunity to hone their venture ideas by submitting them to judges .Our ultimate goal is to successfully launch a business in Mississippi,” Dibrell said.
The entry deadline of Thursday, March 28th is fast approaching and students are looking forward to this year's competition.
“Our professors have been talking about this contest for quite some time. I know a lot of business students who are looking forward to the contest in April,” said Rose Lensing, a senior business major. .
UM faculty members work diligently to mentor students who participate in competitions and to ensure that students who participate in competitions are well-prepared for success.
“We have professors and campus mentors who are entrepreneurial and will work with students to help them compete,” Dibrell said. “Additionally, most schools on campus have faculty ambassadors who can assist students and connect with the Center for Innovation and Entrepreneurship.”
