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October 11, 2012

Free consulting services for Purdue business plan competition participants available at Docking Station

WEST LAFAYETTE, Ind. - Experts are offering free consulting and resources at the new Docking Station in Chauncey Village for participants in Purdue University's upcoming Burton D. Morgan Business Plan Competition.

The Docking Station, 222 Northwestern Ave., is designed for Purdue student entrepreneurs and startup founders seeking a space with high-end Wi-Fi, casual working areas, a conference table and a way to share best practices with others.

The registration deadline for the Burton D. Morgan Business Plan Competition is Oct. 26, and executive summaries for projects are due Nov. 2. Finalists will be announced on Dec. 7.

Scheduled for Feb. 19, 2013, the annual competition offers total cash prizes of $100,000 plus in-kind legal services from Ice Miller LLP to the top finishing student teams that develop and present business plans for viable new ventures.

"Every year the bar is raised for business plans at this competition," said Richard Cosier, the Avrum and Joyce Gray Director of the Burton D. Morgan Center. "What better way to get a competitive leg up than to use the service through our new Docking Station."

Upcoming free sessions for competition participants:

* Today (Oct. 11) 4:30-6:30 p.m. - Who's Your Customer? Identifying the Customer-Value Proposition.

* Oct. 25, 4:30-6:30 p.m. - What's Your Path to Market? Preparing Your Executive Summary.

* Dec. 13, 4:30-6:30 p.m. – Develop User Case Scenarios for Your Ideas. Exploring Path to Market.

* Dec. 20, 4:30-6:30 p.m. - Where's the Money? Your Business Model & Financial Forecast. What's Your Competitive Edge? Preparing Your Pitch.

The Purdue Research Foundation, the Burton D. Morgan Center for Entrepreneurship in Discovery Park and Frontier Communications are sponsoring the Docking Station. For information about the Docking Station, contact Tim Peoples at 765-588-3365 or Dave Sorg at 765-423-3288.

"These free consulting services will significantly benefit the entrepreneurially minded students planning to participate in the Burton D. Morgan Business Plan Competition," said Joseph C. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation.

Teams composed of undergraduate students participate in the Black Division, and teams of faculty, staff, graduate students, alumni and area business people compete in the Gold Division. Top prize in the Black Division is $20,000, while the winner of the Gold Division receives $30,000.

Competition sponsors are the Burton D. Morgan Center for Entrepreneurship and Purdue's Krannert School of Management.

For information about registration, contact Bambrah Miller at 765-494-1335, bambrah@purdue.edu, or visit http://www.purdue.edu/entrepreneurship 

The late Burton D. Morgan was a Purdue alumnus who started 50 companies, six of which have become major corporations, including Morgan Adhesives, one of the world's largest makers of pressure-sensitive adhesives. He also was president of Basic Search Co., an idea-development firm, and wrote several books on entrepreneurism.

The entrepreneurship competition started in 1987 with an endowment gift to Purdue from the Burton D. Morgan Foundation. The Morgan Foundation also funded the $7 million, 31,000-square-foot Center for Entrepreneurship.

The center leads Purdue's Kauffman Campuses Initiative, which is focused on making entrepreneurship education available across the university's main and regional campuses, enabling any student, regardless of field of study, access to entrepreneurial training.

Media Contacts:

Phillip Fiorini, 765-496-3133, pfiorini@purdue.edu

Cynthia Sequin, Purdue Research Foundation, 765-588-3340, casquin@prf.org

Sources: Richard Cosier, 765-494-4366, rcosier@purdue.edu

Joseph B. Hornett, 765-588-1040, jbhornett@prf.org

David Sorg, 765-423-3288, david.sorg@ftr.com

Bambrah Miller, 765-494-1335, bambrah@purdue.edu