Teams from the University of Arkansas earned top honors in the third-annual Donald W. Reynolds Governor’s Cup tri-state business plan competition held May 21. The Arkansas teams were awarded first and second place in the graduate division, and first place in the undergraduate division, which included cash that can be used as funds to start their businesses. Faculty advisers also received cash awards. Top honors in the Tri-State competition went to: Graduate Division: InnerVision, LLC , University of Arkansas – First Place: $25,000 BiologicsMD , University of Arkansas – Second Place: $15,000 Undergraduate Division: Arkansas Auto – Fluff, University of Arkansas – First Place: $25,000 UniPHI, University of Oklahoma – Second Place: $15,000 The Donald W. Reynolds Cup is a statewide business plan competition in Arkansas, Nevada and Oklahoma for undergraduate and graduate students that encourages competitors to put their entrepreneurial ideas through the rigors of planning and take them forward into start-up firms. The Tri-State Award is given to the teams from these states that successfully compete against each other for additional cash prizes. This year’s contest was at Red Rock Casino Resort in Las Vegas. Also competing from Arkansas was Interactive Convenience Electronics from the University of Arkansas. The 2010 Donald W. Reynolds Tri-State Awards and the Donald W. Reynolds Governor’s Cup in Arkansas, Nevada and Oklahoma are made possible by a grant from the Donald W. Reynolds Foundation, which is the sole sponsor of the Tri-State Awards. In Arkansas, the Arkansas Economic Acceleration Foundation oversees the competition. AEAF is a division of Arkansas Capital Corporation Group.