Entrepreneurs: Adelaide University and HP want you

Tuesday, 29 May 2001

People with smart ideas for new business ventures are being sought for a competition to be launched by Hewlett-Packard Australia and Adelaide University at 10.30am tomorrow (Wednesday) at the University's Bonython Hall.

The $50,000 Entrepreneurs' Challenge aims to stimulate business enterprise in South Australia by encouraging participating teams to explore bright business ideas with industry mentors, management consultants, academics and other key supporters.

Over a six-month period, teams will be required to conduct market research, carry out feasibility studies and draw up business plans for their concepts (each team must also include at least one Adelaide University student). The winning team will be awarded prizes to the value of $30,000, with prizes valued at $15,000 and $5000 for second and third placed teams.

Managing Director of Hewlett-Packard Australasia, Mr Norman McCann, says the Challenge was an ideal platform for Adelaide's brightest students to share their visionary ideas with some of the country's best business minds.

"The Challenge is for those students who embody the spirit of inventiveness, innovation and enterprise. Most importantly, the pre-requisite for entrants in the Entrepreneurs' Challenge is a vision for the future," Mr McCann says. "The Entrepreneurs' Challenge is supported through our worldwide e-scholarship program which sponsors key business plan competitions linked to universities around the world."

Adelaide University Vice-Chancellor Professor Mary O'Kane says the Entrepreneurs' Challenge was an exciting opportunity for South Australian students to enhance their entrepreneurial skills.

"Working with mentors from industry will give teams a real insight into what it takes to succeed in the commercial world," she says. "Learning these skills is increasing important for university students. Adelaide University is already leading the way with education programs, which encourage students to turn bright ideas into business ventures.

"Adelaide is the only Australian university that offers a Masters in Science and Technology Commercialisation degree course, a program run in conjunction with the University of Texas in Austin. Our Commerce and Research Precinct at Thebarton also provides a range of programs aimed at helping students convert ideas into business enterprises. These include our Graduate Entrepreneurial Initiative Scheme and Graduate Industry Linked Entrepreneurial Scheme.

"The Entrepreneurs' Challenge will further promote the spirit of enterprise at the University and in South Australia generally, and I encourage all students interested in pursuing a business idea to form teams and enter the competition."

Further information on the Entrepreneurs' Challenge is available from: www.adelaide.edu.au/echallenge or email echallenge@adelaide.edu.au

About HP Hewlett-Packard Company ­ a leading global provider of computing and imaging solutions and services ­ is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and an Internet infrastructure that's always on. HP had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

Name: Ben Scott
Company: Entrepreneurs' Challenge
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