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To promote a spirit of entrepreneurship on the USI campus coinciding with the 2007 Indiana Entrepreneurship Week (November 5-9), we announce the second annual Business Idea Competition.

To compete, please answer the following three questions in a one-page business idea submission. 

• What is the idea?  (what market opportunity will you fill?)
• Why do you think your idea is better than other ideas out there? (what makes your product, service, or business stand out?)
• Who will be served by your product, service, or business? (what is the target market?)

Submissions will be accepted from September 27^th to October 18^th, 2007, with the first 50 submitters receiving a flash drive (one flash drive per person).  Please send your submission to:

Dr. Greg Murphy
Associate Dean, College of Business
Email:  gbmurphy@usi.edu

Preliminary screening will be completed by early November.  Finalists will be invited to make a brief presentation to a panel of judges.  Prizes of $100-$250 will be awarded to competition winners.

Here are some illustrations of Business Ideas from recent college graduates across the country:

• When Hudson got married two years ago, he and his bride decided against decking out the tables with disposable cameras. People they knew who had wed recently told the couple the photos never turned out well and guests complained taking pictures was a chore. And of course, there's the cost of all that developing without knowing what you're getting.
  
  But after the wedding, Hudson and his wife felt they had missed out on fun casual shots. So he started www.YouShoot.com He sends couples digital cameras, and their guests take pictures and mail the cameras back in prepaid envelopes. Uploaded to a Web site, the photos are available for purchase.

• While on "the blind date from hell," Miller came up with the idea for a video screen that updates restaurant patrons on how long their wait will be. He and a classmate founded a company and are now operating in 20 restaurants, with trial runs also in Outback Steakhouse and Ruby Tuesday.
  
  Their proprietary software lists wait times on flat-screen TVs and also features news updates, trivia, and sports scores. Informera makes its money from third-party advertising displayed on the screens, while the restaurants get a free service for customers that also helps them drive same-store sales, thanks to assorted menu items spotlighted on the screens.

• The idea for http://www.metronaps.com was born when working in investment banking and Arshad saw his colleagues falling asleep during meetings and at their desks. They sometimes even snuck off to the bathroom to get some shuteye. In addition to operating the stores, MetroNaps sells and leases pods to companies, gyms, hospitals, universities, and spas.

Confidentiality:  Submissions will be judged by a panel of experienced entrepreneurs and business executives. All judges will be held to the strictest standards of confidentiality.