The Center for Innovation and Entrepreneurship at the University of Mississippi is accepting applications for its 20th annual Gillespie Business Plan Competition, slated for Friday, April 12. The final deadline to apply for the competition is Thursday, March 28.
The competition has become a cornerstone of the university’s entrepreneurial environment, and welcomes students from all disciplines and backgrounds to pitch their innovative business ideas.
“Although the Gillespie Business Plan Competition comes out of the Center for Innovation and Entrepreneurship, which is housed in the business school, the competition is open to all Ole Miss students regardless of their major.” Clay Dibrell, co-director of the CIE, said.
The competition typically has 35 to 45 entrants. First place will be awarded $20,000 dollars and office space at Insight Park. Second place will be awarded $10,000, and the four runner-ups will be awarded $1,250 each. Entrants in the competition are also automatically considered for a variety of additional awards detailed on the competition’s website.
“To accommodate these entrants, we are giving away over $70,000 in prizes going beyond the winner,” Dibrell said.
Previous winners have had great success in launching their business ideas through the competition and encourage other students to enter.
“Winning the Gillespie Business Plan Competition really grew my business tremendously. I gained connections through the judges, fellow competitors and connections through the judges.” Claire Ficek, 2023 winner of the Gillespie Business Plan Competition and chief executive officer and founder of Altar’d Socials, said.
Ficek, an integrated marketing communications major, used the competition as a chance to launch her business and form relationships with other entrepreneurs. Since winning the 2023 competition, Ficek shared, she has doubled her gross income.
“I would tell someone who is competing this year to act like the entire day is a networking event,” Ficek said. “There will be many business owners in the room, and they want to learn what you’re doing. They could be your future bosses.”
One of the key objectives of the event is to break down barriers to entrepreneurship and empower students to pursue their passions. By opening the competition to all students, the university aims to foster a culture of entrepreneurship that transcends traditional boundaries.
“The goal of the 20th Gillespie Business Plan Competition, like it was when it was first started, is to provide opportunities for our student entrepreneurs who have an idea for a new business to refine their venture idea by presenting it to our judges, with the ultimate goal of successfully launching their venture in Mississippi,” Dibrell said.
With the entry deadline of Thursday, March 28, rapidly approaching, students are looking forward to this year’s competition.
“Our professors have been talking about the competition for quite some time. I know many fellow business students who are anxiously awaiting the competition in April,” Rose Rensing, a senior business major, said.
UM faculty coach students in the competition, working hard to ensure that those who enter the competition are well-prepared for success.
“We have entrepreneurship professors and campus mentors who work with the students to help them in the competition,” Dibrell said. “Plus, we have faculty ambassadors in most of the schools across campus which can assist their students or put them in touch with the Center for Innovation and Entrepreneurship.”
