Purdue holds science business competition

The competition will award $134,000 in cash and business services for startup companies describing the best business plan in the life sciences, biotechnology and biomedicine.

Teams must submit an e-mail entry form and executive summary by June 2 to enter the fourth annual Purdue University Life Sciences Business Plan Competition conducted by the Burton Morgan Center for Entrepreneurship and sponsored by Lilly Endowment Inc.

From the entries, 20 semifinalists will be selected by June 26 to submit full business plans.

Eight finalists will be chosen from the written business plan phase of the competition. Those teams will make 45-minute presentations to a panel of judges Sept. 13.

The judging panel includes scientists, venture capitalists, attorneys and academics.

Teams based at universities and colleges, research and teaching hospitals, and other academic institutions engaged in bioresearch are eligible to enter.

"This competition is top drawer -- world-class technology, polished presentations and challenging judges," said Don Blewett, associate director of the entrepreneurship center. "This has become a high-profile annual event that attracts national and international competitors."

Copyright 2006 by United Press International