WELLESLEY, Mass., March 6, 2013 /PRNewswire-USNewswire/ -- Babson College has launched the 2013 B.E.T.A. Challenge, Babson's 'alternative' business plan competition, which this year gives alumni as well as student entrepreneurs their chance to win $20,000.
Winners in three categories -- alumni entrepreneurs, undergraduate entrepreneurs and graduate student entrepreneurs -- will each win a grand prize of $20,000 in cash and "services in kind" donations from corporate sponsors. In addition, $2,500 will be awarded to the two other finalist ventures in each of the three competitions.
The B.E.T.A. Challenge is Babson's 'alternative' business plan competition where entrepreneurs must demonstrate success in reaching major milestones achieved through action. It builds on Babson's branded teaching method -- Entrepreneurial Thought & Action or ETA(r) -- and on the idea that entrepreneurs are made, not born. B.E.T.A. challenges entrepreneurs to lead at all stages, levels and types of organizations, and to bring a range of skills to bear on Entrepreneurship of All Kinds(tm).
Alumni evaluators review and score submitted materials on-line. Several groups of 10-12 Babson College alumni evaluators will review each entrepreneur submission, and assign a numeric score to each. The numeric scores from all evaluators will then be tabulated and six semifinalists at the graduate, undergraduate and alumni levels will be selected based on the highest average score.On April 3, 2013, during the Venture Expo (B.E.T.A. Challenge Semifinals), semifinalists will be given an opportunity to interact with community members. Each semifinalist will get a "booth" to use at their own discretion. Community members will be able to vote which company they would like to see participate in the finalist round. Semifinalists will deliver a 60-second elevator pitch to a panel of judges. Judges will determine the 3 finalists at the graduate, undergraduate and alumni levels who will present at the finals on Thursday, April 11, 2013. On April 11, 2013, the B.E.T.A. Challenge Finals will take place featuring presentations by finalists to a panel of judges - judges who will determine the winner of the competitions. All finalists will present a 60-second pitch at the awards celebration where the winners will be announced. For more information visit http://bit.ly/YxWYBO Twitter #babsonbeta