KLI Innovative StartupAward Recognizes BuddingCampus Entrepreneurs

Students imbued with the entrepreneurial spirit can compete for an Innovative Startup Award of $25,000 in "seed capital" for their business, directed through the Kravis Leadership Institute.
Created in 2009, the Innovative Startup Award is open to all current CMC students and gives them the venture capital to pursue entrepreneurial ideas that show merit. The $25,000 award has been increased by $15,000 from the $10,000 total given last year.
The cash award, established by Sunil Rajaraman '01 and Adam Altman'99, both entrepreneurs, is contingent upon the winning entrepreneur reaching several self-defined milestones.
According to Rajaraman and Jay Conger, KLI Chair and Henry R. Kravis Research Chair in Leadership Studies, the goal of the award is to foster an interest among CMC students for a career in entrepreneurship. It is also to kick start students to pursue their business idea in earnest rather than take a "traditional" job.
"This year's award will go to either one student, or a group of students," Rajaraman says. "There aren't different levels' of the award and the entire cash prize will be available to the winning student or team."
Rajaraman and Conger state that vying for the award creates a "very" competitive atmosphere made even more so by the fact that the award has been increased this year.
"Henry Kravis himself learned of the award and personally pledged an additional $25,000 to the award program over the next few years," says Conger.
Last year the competition was restricted to students in Conger's Leading Entrepreneurial Ventures class. This year, in addition to the larger cash award, the competition is open to all CMC students. The winning submission last year led to the creation of "BrewTours" by Ryan Anderson '10, Andrew Hess '10, Eric MacColl '10 and Michael Widmann '10.You can read more about their business at http://goldengatebrewtours.com/.
Rajaraman, Altman, and Conger will serve on the panel of judges for the award this year. They will be looking for students who are passionate about their idea and who are ready to begin building their venture immediately. Those who have already begun working on their business idea and can show marked progress in the near term will be given special consideration, and a background or network connections in the field of their venture idea is also helpful.
Entries will be accepted from Friday, Oct. 15th to Nov. 5th. Phase 1 of the competition, "The Fast Pitch," will be held on Thursday, Nov. 11th from 11:30 a.m.-5:00 p.m. in the Founders Room. Those selected to advance to Phase 2 will make a more detailed presentation during the spring semester.