The Penn Compact in Action
Plans for success
Students looking to learn the ins and outs of the entrepreneurial process can put theory into practice with the Wharton Business Plan Competition. The annual event provides participants with the opportunity to develop and present a bona fide business plan. The most promising proposals are analyzed by a panel of judges comprised of business advisors and seasoned entrepreneurs. The judges provide feedback to the students, who also gain access to mentors and workshops that can help them refine their business concept. Top rated entries get to present their plan at a venture fair where up to $70,000 in funding is awarded.
This year's grand-prize winner, NIR Diagnostics, was cofounded by three Wharton MBA students and a Ph.D. candidate in the School of Medicine. For placing first, they were awarded a $20,000 prize. Their device, InfraVue, identifies complex wound healing problems faster and more precisely than other products. The team has a working prototype and anticipates being in the market by 2012.
More of the Penn Compact in Action
The Penn Compact
The Penn Compact embodies Penn's vision for making our University both a global leader in teaching, research, and professional practice, as well as a dynamic agent of social, economic, and civic progress.