RealTime IT News

Early Stage Applications Sought

Early-stage telecommunications companies that have not received any institutional funding are invited to submit business plans for the First Annual Virginia Telecom Business Plan Challenge. Entries are due by Nov. 1, with five finalists to be selected by Nov. 27. Guidelines and applications are available at www.akingump.com. No entry fee is required.

The winning entry, chosen by Akin Gump Technology Ventures, a practice group of Akin, Gump, Strauss, Hauer & Feld, L.L.P., Virginia's Center for Innovative Technology (CIT), PricewaterhouseCoopers, Columbia Capital, and The Motley Fool, will receive $70,000 in professional services. Businesses must be an original telecommunications product, service or technology or a substantial improvement on an existing telecommunications product, service or technology.

Applicants are competing for up to 20 hours of legal and business services from Akin Gump Technology Ventures, a $10,000 grant for business consulting services from CIT and the Tech Venture Partnership, up to 20 hours of tax consulting services from PricewaterhouseCoopers L.L.P., and strategic business structuring advice from Columbia Capital.

The winner of the First Annual Virginia Telecom Business Plan Challenge will be announced following finalists' presentations at an open forum at Virginia's Center for Innovative Technology from 5:30 -8 p.m. on Dec. 4.