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New TVL Scholar Program Enables Entrepreneurs to Fund Their MBAs with a Business Plan

Texas Venture Labs Scholar Program will award scholarships to entrepreneursThe Jon Brumley Texas Venture Labs (TVL) has just announced its new Texas Venture Labs Scholar Program, in which entrepreneurs are awarded scholarships to pursue their startup businesses as part of earning their MBAs.

“Many of our best MBA startups come from students seeking our top-ranked entrepreneurship program, arriving with a business idea and using coursework to incubate their idea,” said MBA program director Christina Mabley.  “With the TVL Scholar Program, we are recognizing and funding this fast-growing cadre of MBA applicants.”

The total potential value of each TVL Scholar award is $175,000. Competition winners will receive a scholarship package of $50,000, and their startups will be accepted into the Texas Venture Labs accelerator program, also valued at $50,000. Winners will also be automatically considered for a TVL summer internship and for a prestigious position as a postgraduate Accenture TVL Venture Partner, a combined value of $75,000.

“The Texas Venture Labs Scholar Program pulls together all the attributes that entrepreneurs look for when starting a business,” said Rob Adams, director of Jon Brumley Texas Venture Labs. “The Austin startup ecosystem, McCombs' top-ranked MBA and entrepreneurship programs, and the significant track record of Texas MBAs starting businesses on graduation. Combining these attributes with scholarship funding enables entrepreneurs to radically accelerate the development of their business while earning their MBA at McCombs.”

Scholarship applicants will submit their business plans and presentations electronically by Jan. 7, 2013. Finalists selected from this group will participate in the competition Feb. 9 on the University of Texas at Austin campus. Plans will be judged by a panel including TVL’s Accenture Venture Partners and representatives from the Texas MBA admissions committee and the McCombs entrepreneurship faculty.

Scholarship applicants do not have to apply for admission prior to the competition. Winners will be able to exercise their scholarship option for the full-time MBA program for 18 months after receiving the award. To exercise the scholarship, competition winners must follow the standard McCombs MBA application process and be accepted to the program.

 

Comments

#1 Hi. You don't need a fancy

Hi. You don't need a fancy business plan. All you need is a 2-page executive summary. If you have financials, by all means, reference them in the executive summary. I don't think it will help that much to have pro forma statements though. Check out the website for more details on the application requirements: http://www.mccombs.utexas.edu/Centers/Texas-Venture-Labs/tvl-scholar-program Good luck!

#2 How detailed and how big

How detailed and how big should the business plan be? does it need to be so big with all the cash flow projections and all?

#3 No, just use whatever

No, just use whatever market(s) you plan to sell your products and/or services to. Thanks and good luck!

#4 Should the business plan just

Should the business plan just suit the American situation or even from the foreign business opportunity perspective?

#5 Yes, international students

Yes, international students are eligible. Thanks and good luck! Renee Hopkins

#6 Hello, I would be applying

Hello, I would be applying for McCombs MBA Fall 2013. Being an international, I just wanted to know if international student are eligible for this program? Thanks, Regards, NS

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