Category Archives: Entrepreneurship Foundation News

The Importance of a Sound Business Model

Business ModelAccording to Guy Kawasaki, author of “The Art of the Start,” you don’t have a business model if you can’t describe it in ten words or fewer. What’s his point? Investors want to know how your business will make money. I’m sure you already know that in order for your business to survive it needs to bring in enough revenue to cover expenses and to cover overhead costs. The good news is that someone else has already figured out business models that work! So, you don’t have to try to reinvent the wheel with this one, and Guy doesn’t recommend it. Mr. Kawasaki says that the smart approach is to relate to a successful and already understood business model.

How do you define your business model? Guy recommends starting with two questions: “Who has your money in their pockets?” and “How are you going to get it into your pocket?”

Not sure where to find already accepted business models? Below we’ve listed a few commonly used business models: Continue reading

Tech Reporter Contact List

Business HandshakeConrad Egusa, former writer for Venture Beat turned entrepreneur, found in his time as a reporter that one of the hardest things for entrepreneurs to do was find contact information for those people they thought might be interested in reporting on their company.

For startups and entrepreneurs looking for press coverage, it is time consuming to collect the contact information of tech reporters. Instead of having entrepreneurs and small businesses, which already have limited resources, spend hours finding the emails of technology reporters, they decided to spend 100 hours creating a comprehensive tech reporter contact list. Continue reading

Winners of the 2015 Donald W. Reynolds Tri-State Competition Named

Arkansas Capital, through its affiliate, the Arkansas Economic Acceleration Foundation, (AEAF) is pleased to announce that Kordate Solutions, representing the University of Arkansas at Fayetteville, has won the graduate division of the eighth annual Donald W. Reynolds Tri-State Collegiate Business Plan Competition.

Kordate Solutions, representing the University of Arkansas at Fayetteville, won the graduate division of the Donald W. Reynolds Tri-State Collegiate Business Plan Competition.

Kordate Solutions, representing the University of Arkansas at Fayetteville, won the graduate division of the Donald W. Reynolds Tri-State Collegiate Business Plan Competition. Photo from www.kordatesolutions.com.

Led by Kenny Bierman and Phillip Turner, with Dr. Carol Reeves as faculty advisor, Kordate Solutions focuses on developing a therapeutic Alzheimer’s drug using the peptoid JPT1 to treat Alzheimer’s disease from early on-set to severe dementia.

Joshua Baker, representing Agricultural Innovations from Arkansas State University in Jonesboro, beat out five other teams to win the graduate division of the Tri-State Elevator Pitch competition. He took the stage at the Tri-State awards dinner to tell the audience – in 90 seconds – how his team’s business model offers a more efficient approach to farm irrigation with WellsVision, a sensor-driven automated irrigation system. Continue reading

2015 Donald W. Reynolds Tri-State Winners Announced

Download the 2015 Tri-State Awards Dinner Program

Kordate Solutions, representing the University of Arkansas at Fayetteville, won the graduate division of the eighth annual Donald W. Reynolds Tri-State Collegiate Business Plan Competition, held May 28, 2015, at the The Mirage in Las Vegas.

Led by Kenny Bierman and Phillip Turner, with Dr. Carol Reeves as faculty advisor, Kordate Solutions focuses on developing a therapeutic Alzheimer’s drug using the peptoid JPT1 to treat Alzheimer’s disease from early on-set to severe dementia.

Joshua Baker, representing Agricultural Innovations from Arkansas State University in Jonesboro, beat out five other teams to win the graduate division of the Tri-State Elevator Pitch competition. He took the stage at Tri-State awards dinner to tell the audience – in 90 seconds – how his team’s business model offers a more efficient approach to farm irrigation with WellsVision, a sensor-driven automated irrigation system.

Other 2015 Tri-State Winners were: Continue reading

Creating an Exuberant Elevator Pitch

Elevator PitchElevator pitches are all the rage right now. Looking at the way the world works, people act like they barely have enough time to put down their cell phones or tablets long enough to do important things like eat and shower. Ask them to pay attention to something that’s not important for more than 5 minutes? That’s blasphemy! Too hard! Luckily, and I’d guess out of necessity, the entrepreneurship and venture capital world has latched on to this idea of an elevator pitch. The story goes that at some point an entrepreneur got on this mythical elevator in some massive building in some huge city. Standing next to him just happened to be a key player in an investment firm that could provide said entrepreneur with venture capital. But, alas, he would only be in this elevator with him for 60 seconds! How could he tell him everything he needed to know to secure funding from his awesome company? It’s no secret, and in the next couple paragraphs we’ll give you some tips to create a winner. Continue reading

2015 Donald W. Reynolds Governor’s Cup Winners Announced

Top teams to compete in Tri-State Competition in Las Vegas

Winners of the 2015 Donald W. Reynolds Governor’s Cup Collegiate Business Plan Competition that is managed by The Arkansas Economic Acceleration Foundation, an affiliate of The Arkansas Capital Corporation Group, were announced today at a luncheon hosted at the Statehouse Convention Center in Little Rock, Ark.

Mike Preston, executive director of the Arkansas Economic Development Commission, served as the master of ceremonies for the event, which hosted approximately 760 business leaders, students, educators and supporters from across the state for the 15th annual Donald W. Reynolds Governor’s Cup.

This year, 47 teams submitted business plans from 12 colleges and universities from across Arkansas for a chance to win a share of the $152,000 prize pool. First and second place winners of the undergraduate and graduate teams will compete against the top two teams from Nevada and Oklahoma for the Donald W. Reynolds Tri-State Award in May, where they will be competing to win a share of the $118,000 prize pool.

The 2015 Donald W. Reynolds Governor’s Cup winners are: Continue reading

Social Entrepreneurship’s Impact on Education Abroad

By: Brad Cameron

In his book Social Entrepreneurship: What Everyone Needs to Know, David Bornstein argues that social entrepreneurship originally focused on identifying individuals talented in addressing social problems. Social entrepreneurship evolved to building and expanding entrepreneurs’ capacities to address widespread social issues through formalized organizations that borrow from best practices in business and organizational management.

Today, the Internet and other forms of electronic communication connect and empower people  to come together to take on local and global issues. The latest iteration of social entrepreneurship combines the strength of social enterprises with the passion of activists, enabling professionals from a variety of fields to use technology to develop solutions for problems ranging from political underrepresentation to disparities in health care. Continue reading