Overview

With one of the largest cash prize pools in America, the Donald W. Reynolds Governor's Cup graduate & undergraduate business plan competition is designed to encourage students of Arkansas's universities and colleges to act on their ideas and talents in order to produce tomorrow's businesses. 987 students representing 19 Arkansas colleges and universities have participated and over the past seven years $658,000 of cash has been awarded to student teams and their faculty advisors.

Students involved in the competition gain access to networks of successful entrepreneurs, lenders and investors, team building opportunities, business planning skills, and media exposure.

One of the goals of the competition is to encourage the development and commercialization of ideas and technologies being discovered in our universities. Multi-disciplinary teams that combine members from technical disciplines with members from the Colleges of Business are encouraged. Multi-disciplinary teams bring together the pieces necessary for bridging the gap between technology and the marketplace.

Cash Awards

The 2008 Donald W. Reynolds Governor's Cup will offer $104,000 in cash prizes during its Spring 2008 Competition to be held in Little Rock, Arkansas. Prize amounts are listed below:

First Place (Graduate & Undergraduate): $20,000, divided among the team members, and $1,000 for the team's faculty advisor(s)

Second Place (Graduate & Undergraduate): $10,000 to be divided among the team members, and $1,000 for the team's faculty advisor(s)

Third Place (Graduate & Undergraduate) $5,000 to be divided among the team members, and $1,000 to the faculty advisor.

Innovation prize (Graduate & Undergraduate) $5,000 to be divided among the team members.

$1,000 is awarded to the twelve undergraduate semifinalist teams and the six graduate finalist teams.

In the Undergraduate competition, a semifinal selection will be held February 21-March 6, 2008. Announcement of the semifinalists will be made by conference call (March 7, 2008). Call-in instructions for the conference call will be e-mailed to the faculty and team leaders using the contact information provided on the official business plan entry form.

From the twelve undergraduate semifinalist teams, six will be selected as finalist and compete for the 1st, 2nd, and 3rd place grand prizes awarded in the final round of the competition. Undergraduate finalists do not receive an additional cash prize.

Six finalists in the graduate competition will be selected April 21-March 6, 2008. Announcement of the graduate team finalists will be made by conference call (March 7, 2008). Call-in instructions for the conference call will be e-mailed to the faculty and team leader using the contact information provided on the official business plan entry form.

Faculty advisors of 1st, 2nd, and 3rd place teams will each receive a cash award.

Entrants will also compete in a competition for the "Best Business Plan Involving Innovation." The plan that best demonstrates "Innovation" (as defined below) in both the undergraduate and graduate competitions will receive a cash award. Recipients of the "Best Business Plan Involving Innovation" category need not have won at any other level.

Innovation Definition: The conversion of knowledge and ideas into a benefit, for commercial use, the benefit may be new or improved products, processes or services.

Competition Timeline

Eligibility

The competition is open to all faculty-sponsored, full-time and part-time undergraduate and graduate students enrolled at any of Arkansas's four year universities or colleges. The business plan must be for a seed, start-up or early stage venture and must address the entire business concept (including implementation). At least one team member must have a key role in the company's management team. Proposals for the buy-out or expansion of an existing company, tax-shelter opportunities, franchise, real estate syndications, and other consulting projects and analyses are not eligible.

Teams comprised of at least one student enrolled in the graduate school should compete in the graduate competition (even if undergraduates are members of the team).

Graduate students may compete if they graduated in December of the year prior to the date of the competition (example: a graduate student graduating in December 2007 may still be entered in the spring 2008 competition).

Judging

The Competition takes place in two parts. A panel of judges evaluates the written plans three to four weeks prior to the competition, and selects the twelve undergraduate semifinalist teams and six graduate finalists. Each entry is evaluated in whole by at least three judges. Preliminary judges will provide individual team teleconference feedback sessions for the twelve undergraduate semifinal and six graduate final teams.

Two new panels of five judges then evaluate the twelve undergraduate semifinalist teams based upon an oral presentation by each team (20 minutes for presentation and fifteen minutes for a question-and-answer session) and selects the six finalist teams. After each presentation, each team will receive up to ten minutes of feedback from the judges.

The final phase consists of two new panels of five judges, one for the graduate track and one for the undergraduate track, who will evaluate the finalist teams (six graduate and six undergraduate) based upon an oral presentation. This panel selects the first, second and third place teams.

A separate panel of judges will review plans for the "Innovation" award. Undergraduate and graduate finalists will be chosen and will make oral presentations to a panel of judges on Friday, April 4, 2008.

The judging is based both subjectively and objectively on the evaluation guidelines and the impressions formed by the business experiences of the judges. All judges ultimately consider the entire business concept looking at overall feasibility, combined with significant capital gains potential, attractive investment possibilities and actual implementation. The most compelling business plan is one that effectively integrates all components of the plan, rather than simply forming a strong sum of parts.

2008 Finalists and Semi-Finalists

Congratulations to this year’s participants in the Donald W. Reynolds Governor’s Cup. Listed below are the 2008 finalists, semi-finalists, and companies presenting in the innovation track:

Undergraduate-Semi-Finals

• Enterra-John Brown University
• H2mObile-Arkansas Tech. University
• InTrend, LLC-John Brown University
• IT Novo-John Brown University
• Medi-Home-Harding University
• mPOS-Harding University
• Nature West-Arkansas State University
• Ozark Oasis Pet Resort-John Brown University
• Renaizzance Clothing-University of Central Arkansas
• Uphill Capital, LLC-University of Arkansas at Little Rock
• Versatile Mobile Auto Detailing-John Brown University
• VitaTag-Harding University

Graduate-Finals

• Habitat & Hosts-Arkansas State University
• Legalite Software-University of Arkansas at Little Rock
• MerchantEyes, LLC-University of Arkansas
• Protrom Medical-University of Arkansas
• Track Life Systems-University of Arkansas
• TruSource Technologies-University of Arkansas at Little Rock

Innovation-Undergraduate

• H2mObile-Arkansas Tech. University
• IT Novo-John Brown University
• VitaTag-Harding University

Innovation-Graduate

• Innovation Research Technologies, LLC-University of Arkansas at Little Rock
• Protrom Medical-University of Arkansas
• Track Life Systems-University of Arkansas
• TruSource Technologies-University of Arkansas at Little Rock

Sponsors of the 2008 Donald W. Reynolds Governor's Cup

Summit Level - $25,000

Chairman's Level - $10,000

Presidential Level - $5,000

Arkansas Democrat Gazette AT&T CDI Contractors, Inc. Chesapeake Energy Cooper Communities Coulson Oil Company Delta Dental of Arkansas Lexicon Little Rock Convention and Visitors Bureau McLarty Companies Metropolitan National Bank Vratsinas Construction Company

Vice Presidential Level - $2,500

Arkansas Farm Bureau Delta Plastics of the South Deltic Timber FedEx Kutak Rock LLP Little Rock Regional Chamber of Commerce

Sponsorship Information

To learn more about how your organization can support the growth of entrepreneurship in Arkansas, please contact Sam Walls III or Leslie Lane at (501) 374-9247.

• Sponsorship Levels
• 2008 Governor's Cup Luncheon Brochure and Reservation Information

2007-2008 Chairman & Luncheon Speaker

Walter Hussman, Jr., Chairman 2008
President & CEO of WEHCO Media, Inc.

Walter Hussman, Jr. is president and chief executive officer of WEHCO Media, Inc. (the Walter E. Hussman Company), which was established in 1973 by his father, Walter E. Hussman, Sr.

Mr. Hussman followed in the family footsteps, first earning his bachelor’s in journalism at the University of North Carolina and then an MBA from Columbia University. After a brief stint as a reporter for Forbes Magazine, in 1970, he became the administrative assistant to his father and then the general manager of the Camden News.

In 1974, WEHCO Media bought the Arkansas Democrat and Mr. Hussman moved to Little Rock at age 27 to become its publisher. In 1991, the Arkansas Democrat purchased the Arkansas Gazette and renamed the combined newspaper the Arkansas Democrat-Gazette.

Since that time, the company has made additional newspaper purchases in Chattanooga, Tenn., buying the Chattanooga Times and the Chattanooga Free Press and combining the two publications in 1999 into the Chattanooga Times Free Press, of which Mr. Hussman is chairman.

A native of Texarkana, Texas, Mr. Hussman grew up in Camden, Arkansas and currently lives in Little Rock with his wife, Robena. Together they have three children: Palmer, Olivia and Mary Eliza.

Peter T. Grauer, Speaker 2008
Chairman of the Board and President, Bloomberg L.P.

Peter T. Grauer is Chairman and President of Bloomberg L.P., the global financial media company that was founded in 1981. He has been a member of the Bloomberg board since October 1996 and was named Chairman of the Board in March 2001 succeeding Michael R. Bloomberg. Mr. Grauer joined Bloomberg full time in his executive capacities in March 2002.

Prior to this, he was a managing director of Donaldson, Lufkin & Jenrette from 1992 to 2000 when DLJ was acquired by Credit Suisse First Boston. He served as a managing director and senior partner of CSFB Private Equity until March 2002. Mr. Grauer is a founder of DLJ Merchant Banking Partners and DLJ Investment Partners.

Mr. Grauer graduated from the University of North Carolina in 1968 and the Harvard University Graduate School of Business, Program for Management Development in 1975.

Mr. Grauer serves as lead director of Davita, Inc., a healthcare services company based in California, and has been on the board of directors of over twenty-five public and private companies. He is also a member of the Business Council and serves on its executive committee.

Mr. Grauer is married and resides in Greenwich, Connecticut. He and his wife Laurie have three daughters.

Previous Chairmen & Luncheon Speakers

Bill Clark, Chairman 2007
Chairman of the Board and CEO, CDI Contractors. William E. Clark is Chairman of the Board and CEO of CDI Contractors, which was established in 1987. He is a graduate of the University of Arkansas and holds a degree in Electrical Engineering.

Bill Harrison, Speaker 2007
Chairman of the Board, JP Morgan Chase. Mr. Harrison is Chairman of the Board of JP Morgan Chase, where he has also served as Chairman, President and CEO. Previously, Mr. Harrison was Chairman and CEO of the Chase Manhattan Corporation, where he has served as President and also Vice Chairman, responsible for all wholesale banking operations.

Thomas F. McLarty III, Chairman 2006
President, Kissinger McLarty Associates. Thomas F. McLarty has a distinguished record of business leadership and public service, including various roles advising three U.S. Presidents: Bill Clinton, George H.W. Bush, and Jimmy Carter.

Michael L. Eskew, Speaker 2006
Chairman & CEO of UPS. Mike Eskew serves as chairman and chief executive officer for UPS, the world's largest package delivery company and a global leader in supply chain services.

Scott T. Ford, Chairman 2005
President & CEO, Alltel Corporation. Scott Ford is President and Chief Executive Officer for Alltel, a customer-focused communications company with nearly 13 million customers and $8 billion in annual revenues. Alltel provides wireless, local telephone, long-distance, internet and high-speed data services to residential and business customers in 26 states.

Fred W. Smith, Speaker 2005
Chairman of the Donald W. Reynolds Foundation, Member of the Board of Trustees. As the Chairman, Board of Trustees, Fred W. Smith is responsible for the philanthropic endeavors of the Donald W. Reynolds Foundation, one of the largest private foundations in the nation.

John H. Tyson
Chairman and CEO, Tyson Foods, Inc. Board of Directors, Member of the Executive Committee of Tyson's Board of Directors. John Tyson was born in Springdale, Arkansas, the son of Don and Jean Tyson and the grandson of John Tyson, founder of Tyson Foods. He graduated from Springdale High School in 1971, and received Bachelor of Business Administration degree in 1975 from Southern Methodist University in Dallas, TX.

Howard Putnam
Former CEO, Southwest Airlines & Braniff Airlines. Howard Putnam's ultimate objective is "Bottom Line Improvement." He believes that cultures that place people as their #1 piority have the greatest long term impact and success.

Donald G. Soderquist
Retired Senior Vice-Chairman
Wal-Mart Stores, Inc. The man for whom the Soderquist Center for Leadership and Ethics was named, Donald G. Soderquist's life has exemplified honorable leadership and servant hood, both personally and professionally.

Warren A. Stephens
Stephens Inc. Warren A. Stephens, President and Chief Executive Officer of Stephens Inc., is a graduate of Washington and Lee University in Lexington, Virginia, where he received his bachelor of arts in economics degree. He later received his master of business administration degree from Wake Forest University.

Wally Amos
Father of the Gourmet Cookie Industry. As inventor of Famous Amos cookies, Wally Amos' story is the quintessential American success story.