US: Santa Clara University hosts $10,000 Boomer Business Plan competition

Entrepreneurs whose products address the needs of the largest, most affluent cohort in history will want to participate in the third annual global Baby Boomer Business Plan Competition on June 20, 2006 at Santa Clara University. The competition, hosted by the University’s School of Business, includes a $10,000 Grand Prize in cash and the opportunity to pitch Silicon Valley venture capital firms.

"The opportunities for marketing to the Boomer generation haven’t diminished with time," said Mary Furlong, co-producer of the business plan competition. "Every seven seconds a Boomer turns age 60," she noted, "and entrepreneurs who provide services or products in technology, health, travel, fashion, media, financial services, even spirituality, aimed at this generation are on the leading edge." Furlong is CEO of Mary Furlong &Associates, a firm specializing in business development, financing strategy, and integrated marketing solutions for businesses serving the 45+market."

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he business plan competition is open to all students, alumni, faculty or staff at accredited four-year colleges and universities, as well as entrepreneurs from seed or early-stage companies with annual revenues of $0 to $1 million, and independent business professionals developing products and services for the 45+ market.

Previous competitions have included participants from over 20 countries and such prominent universities as Harvard, Wharton (University of Pennsylvania), University of Chicago, and UCLA. This year’s competition promises an even broader reach. “As the first Business School in the heart of Silicon Valley, we have a global perspective,” says SCU School of Business Dean Barry Z. Posner. “So does the Boomer population, and entrepreneurs marketing to that generation have a world-wide marketplace.”

The competition involves three rounds of judging, narrowing the pool of business plans to 20 semifinalists, then five finalists. The five finalists, selected in advance, will be invited to present their plans to an esteemed panel of Venture Capital judges at the 2006 Silicon Valley Boomer Venture Capital Summit. Finalists will also have the opportunity to pitch their ideas one-on-one to Silicon Valley venture firms.

“Intent to Enter’ deadline submission is April 7, 2006. For additional information or to submit your intention, please visit www.boomerventuresummit.com/competition.

The Leavey School of Business at Santa Clara University began in 1926, and was one of the first business schools in the country to receive national accreditation. Its undergraduate business program is recognized as one of the best in California, and its MBA program is ranked 10th in the nation among part-time graduate programs for working professionals. More than 80 percent of its 1,100 MBA student body are working professionals in the Bay Area.

Mary Furlong & Associates works with companies seeking to capitalize on new business and investment opportunities in this $2 trillion-per-year market. MFA provides business development, financing strategy and integrated marketing solutions to entrepreneurs, corporations and non-profit organizations serving the 50+ market. Mary Furlong, Ed.D also serves as a executive professor on Entrepreneurship at Santa Clara University in the Silicon Valley.