Tulane Entrepreneurs

ANNUAL REPORT 2010

New Heights
I am pleased to announce the great strides we made this year in our efforts to promote entrepreneurship and provide our members the skills necessary to successfully launch and sustain new ventures. When taking over as president last year, I had a few key goals in mind for our organization: 1. Increase visibility at the local, national, and international levels 2. Grow the Annual Business Plan Competition 3. Enhance the overall educational experience for our members Through the hard work and leadership of our officer corps, we successfully achieved all three of these objectives. On behalf of TEA, I thank you for your continued involvement with the organization. Our many programs and initiatives would not be possible without your continued support. Sincerely, Matt Dearmon, Outgoing President Continued Page 2

Competition Sets Records
TEA and LRI decided to focus the 2010 Competition on the principles of Conscious Capitalism. In doing so we offered a single cash prize of $50,000 to the best student team. The increased prize offering, along with our team’s extensive marketing campaign, attracted a record 93 plans from 51universities, 9 countries, and 5 continents. The increased level of participation and geographic diversity indicates a steady move toward a truly global competition. Thanks to the tireless efforts our officers, student volunteers, and the dedicated LRI staff, this year’s Competition was extremely successful.

ENTREPRENEUR OF THE YEAR George Wiilson, Jr. (left) of Barriere Construction was honored by Dr. John Elstrott (right) for Entrepreneurship in New Orleans.

TBPC WINNERS Sunil Bhardwaj (left) and Sameer Hajee (right) earned the top prize of $50,000 in the Tulane Business Plan Competition.

SOCIAL ENTREPRENEUR. Kathryn HallTrujillo (left), founding director of Birthing Project USA, was honored as Tulane Social Entrepreneur of the Year.

2010 TEA OFFICERS

ABOUT ME
Name: Emily Roberts Position: VP Competition Major: MBA Graduation: May 2011 What Brett Does: Emily organizes the competition in its entirety from the events, judging, and team participation. She is actively recruiting sponsors and coordinating all fundraising activities, as well as promoting the ideals of conscious capitalism.

COMPETITION SETS RECORDS (CONT. FROM PAGE 1)
In order to judge 93 submissions, over 80 judges volunteered their time and expertise, offering our participants invaluable feedback on their entrepreneurial endeavors. With our new focus on Conscious Capitalism, teams were forced to consider the total alignment of stakeholder interests, instead of simply trying to maximize shareholder value, adding another level of complexity to the Competition. The following three teams progressed to the final round “live-pitch” round on April 16th: NURU Light – University of California, Berkley Winduction – London Business School Cortical Concepts – John Hopkins

NUMBERS
Applications

Sponsors
Thanks for your su pport! Freeman School of Business
TABA (Business Al umni)
uncil )

93
Countries Represented

Graduate Business Co

Graduate Assn. (GAP SA

Crescent Ba nk an d Trust: Gary Solomon, Jr. Jones Walker Advantage Capital Bio Innovation Cent er

9
Universities

Our panel of seven judges chose NURU Light as the winner of the 2010 Tulane Business Plan Competition.

51

TEA Wins Crest Award for Student Organization of the Year
Started in 1998, Tulane University’s Student Crest Awards recognize the achievements of students (campus-wide) outside of the classroom. The Martha H. Sullivan Student Organization of the Year Award is presented to the organization that stood out as a leader among Tulane’s more than 200 student organizations. On April 22, 2010 the Student Crest Award committee selected the Tulane Entrepreneurs’ Association as the Student Organization of the Year! This award is well deserved by the TEA’s members who tirelessly devoted countless hours to the organization’s mission.

EDUCATIONAL HIGHLIGHTS
National Collegiate Inventors and Innovators Alliance
2010 Conference in San Francisco Over the past couple years we have significantly increased the level of participation in our Annual Business Plan Competition, which in turn has increased the visibility of the Freeman School at all levels. Recognizing our recent accomplishments, the NCIIA staff invited us to the organization’s annual conference to present on the steps we have taken in recent years that have led to our success. In March of this year Lina Alfieri-Stern, Director of the Levy-Rosenblum Institute, Ralph Maurer, visiting professor of strategy and entrepreneurship at the Freeman School, and Matt Dearmon traveled to San Francisco to provide a diverse audience of academics, administrators, and students an overview of the entrepreneurship program at Tulane. Overall, the trip was a success, as our presentation was well received and we learned a great deal from being in the audience for other presenters.

MatchNOLA
In 2009 TEA began matching students seeking experience with entrepreneurial ventures with local entrepreneurs in the Greater New Orleans area. After receiving positive feedback from participants, we decided to formalize the program in

2010, calling it MatchNOLA. In doing so, she took MatchNOLA to the next level, installing a formal application process and guidelines for the student teams and local entrepreneurs to use. We successfully matched eight teams of students with local ventures in New Orleans, providing students with

experiences they sought and local entrepreneurs the business support they needed. In fact, the members of the winning team of the New Day Challenge, Drop the Chalk, connected through MatchNOLA. TEA plans to continue growing this program to expand our impact in New Orleans!

OUR SUPPORTERS: WHAT THEY HAVE TO SAY...

Aaron Miscenich and Steven Ceulemans of the New Orleans BioInnovation Center have provided continuous support to the TBPC.

Thanks to all of our final round judges for their invaluable feedback to participants and for making our competition a success.

Thanks to Stephanie Barksdale and the Tulane Social Entrepreneurship Initiatives for their partnership.

Continuing the Tradition: Chris Williams
As incoming President, I have the responsibility of leading my dedicated group of officers and continuing our mission of promoting “purposedriven” entrepreneurial activity at Tulane. Having recently being ranked 4th in the nation in Graduate Entrepreneurship Education by the Princeton Review and Entrepreneur Magazine, TEA plans to capitalize on this achievement through increased membership and heightened national exposure. By inspiring innovation and teaching our members how to construct profitable business models, we strive to enhance regional economic growth and to positively impact society as a whole. TEA attempts to achieve these goals by finding new and creative ways to add value in the business community, while closely following the ideals of conscious capitalism - which is our organization’s focus. We are extremely grateful for the support of the University, the A.B. Freeman School of Business, our sponsors, supporters, and members. It is only through their collective efforts that our organization’s mission becomes a reality. I’m extremely optimistic about the strides TEA will make in the following year and look forward to working with you all in the near future. Thank you for your continued support!
Entrepreneurs, throu gh the transformative powe rs of creativity and innov ation, can solve all of the world 's problems. However, this can on ly be done if everyone is given the freedom to act and form organiza tions, be they profit or non pr ofit. The essential entrepreneu r's toolkit combines these freed oms with secure property rights and the rule of law. In this con text entrepreneurs who for m "Purpose Driven" organizations based on a management philosop hy of maximizing stakeho lder alignment are the Conscious Ca pitalists that are transforming the world. Conscious Capitalists are creating sustainable organiza tions from a societal, environmenta l, and financial perspective that give everyone in the world the hope for a better future.

FROM DR. JOHN ELST ROTT:

by Chris Williams Incoming TEA President
•••

IMPROVING EXPERIENCES FOR TEA
It is with great pleasure that I write to you today as the incoming President of TEA. Currently entering our tenth year of operation, TEA is now considered to be one of the most active student organizations on campus. As the entrepreneurial spirit continues to grow within the Greater New Orleans Area, Tulane students from across the globe are becoming more interested in entrepreneurship and new-venture planning. Through the hard work of our predecessors, TEA has built an incredible reputation of successfully providing our students with the tools and resources necessary to start and sustain viable ventures. By meeting the educational demands not met by a traditional curriculum, TEA adds real value to the academic experience of Tulane students and makes a positive difference in our local community.

SPONSORING ENTREPRENEURS
The Tulane Entrepreneurs Association is funded through its supporters every year. All gifts help foster entrepreneurship through education and encourage young people to be involved in the community and pass on their education to others. TEA is currently seeking a marquee sponsorship. Please join us! Contact Chris Williams (cwilli5@tulane.edu) for more information.

THANKS TO LRI STAFF:
Lina Alfieri-Stern Rosalind Butler Terry McGuckin John Elstrott

TULANE ENTREPRENEURS
Goldring Woldenberg Hall 1; Suite 401 7 McAlister Drive