December 16, 2002

Knapp Venture Competition Holds Alumni Mixer to Launch its Annual Contest

Los Angeles — The Knapp Venture Competition is in the process of organizing its 22nd annual competition, which will be held in the spring of 2003. To kick off this year’s event, The Harold Price Center for Entrepreneurial Studies, in conjunction with the student-run Entrepreneurs Association will host an Alumni Mixer on Tuesday, Jan. 14, 2003, from 6 to 9 p.m. in the Executive Dining Room at UCLA Anderson.

UCLA Anderson alumni are encouraged to attend this event to find out more about the Knapp Venture Competition and how they can participate. The competition is named for Cleon T. (Bud) and Betsy Wood Knapp, whose $2 million endowment to school supports this annual event along with other entrepreneurial initiatives.

“We’d like to get our alumni to dust off those great business ideas they’ve been thinking about and toying with,” said Al Osborne, director of The Price Center for Entrepreneurial Studies. “The competition will not only give their ideas some driving force, but enable our alumni to take advantage of the student and faculty resources and intellectual capital created every day within the walls of school.”

The purpose of the Knapp Venture Competition is to provide UCLA Anderson students with an intensive learning experience involving the entrepreneurial process. Virtually all  UCLA Anderson students will start, work in, advise or finance growing businesses at some point in their careers. Participating in the Knapp Venture Competition prepares students — whether they will be founders, financiers, consultants, marketers, or general managers — for these experiences by simulating the process of starting and evaluating an entrepreneurial enterprise.

The competition requires that only one member of a team be a current UCLA Anderson student, which allows students to discover the incredible resources that are available to them at UCLA and throughout the greater Los Angeles community. Fellow UCLA Anderson classmates and alumni, as well as graduate students in the other technical and professional schools, are all potential partners and sources of ideas. Networking events, department seminars, dual enrollment courses, visits to Cal Tech and UCLA’s own Office of Intellectual Property Administration (OIPA) provide valuable introductions that can often turn an idea into a reality.

While a business plan is the tangible outcome of each participating team’s efforts, generating the document in and of itself is not the Knapp Venture Competition’s primary objective. Rather, the competition encourages a rigorous and cross-disciplinary application of the tools that students have learned in the MBA program. It requires them to integrate concepts from school's core curriculum — economics, finance, operations, marketing, accounting, strategy and organizational development — into a comprehensive plan for starting and operating a business.

Last year’s Knapp Venture Competition started with more than 100 participants representing some 30+ teams. The semi-final round was narrowed to 19 teams, from which five finalists emerged. Of the five finalists, two teams took first-place honors, with each winning team receiving the full $10,000 grand prize.

For more information on last year’s Knapp Venture Competition finalists and winners, please click on the following links:

Knapp Venture Competition Finalists

Knapp Venture Competition Winners

For more information about the Knapp Venture Competition, please visit:

http://www.uclamba.com/knapp/index.htm

The Knapp Venture Competition is presented by school’s highly ranked Harold Price Center for Entrepreneurial Studies and the School’s student-run Entrepreneur Association.

About UCLA Anderson

UCLA Anderson is perennially ranked among the top-tier business schools in the world. Award winning faculty renowned for their research and teaching, highly selective students, successful alumni and world-class facilities combine to provide an extraordinary learning opportunity. Established in 1935, UCLA Anderson provides management education to more than 1,300 students enrolled in full-time, part-time and executive MBA programs and academic master’s and Ph.D. programs.

UCLA Anderson’s faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decisions, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.

Recognizing that the school offers unparalleled expertise in management education, the world's business community turns to UCLA Anderson as a center of influence for the ideas, innovations, strategies and talent that will shape the future.

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