The University of Texas at San Antonio's School of Data Science is rolling out a new business plan competition focused on data science in developing a business plan.
The UTSA Draper Data Science Business Plan Competition will be open to university students — graduate and undergraduate — who are launching new for-profit, independent business ventures and are in the startup and early growth stages with a sustainable revenue model. It does not require that students be data science majors to participate.
UTSA's School of Data Science was established in 2018 as part of UTSA’s 10-year vision for expansion downtown. Teams will be competing for cash prizes — with $50,000 going to the first-place team, $30,000 to the second-place team, $20,000 to the third-place team and $10,000 for the student voted "best in show," according to Amanda Mukengeshayi, manager of strategic initiatives for the School of Data Science.
Student entrepreneur applications will be reviewed by a panel of mentors. Those selected will be asked to submit business plans and 60-second pitch videos. Then a panel of judges will choose participants for an in-person competition that will be held April 13 - 15, 2022.
"This is actually all possible thanks to the donation of Timothy and Melissa Draper," said Mukengeshayi.
Timothy Draper is a venture capitalist from California and founder of Draper University. The pair donated $1 million to establish the inaugural competition.
"The intent of the gift was to launch and make this a flagship event for the school of data science, and might be a signature event for years to come," said David Mongeau, founding director of the UTSA School of Data Science.
While many business plan competitions exist throughout the country, most are focused more on the tech field and a broader spectrum of entrepreneurial ventures. This one is different because it's looking very specifically for novel and ambitious applications of data science to create a business opportunity that has a wide social impact, Mongeau said.
All applications are due by Jan. 31, and applicants will be notified by mid-February if selected to move on to the next phase.
