Early registration for the Springboard Ideas Challenge will end March 1. The final deadline for late registration will be March 21.

The Springboard Ideas Challenge is a competition that calls for students interested in entrepreneurship to design a business plan for their concept. Each team is required to submit a written plan. If chosen, finalists present their plan to a panel of judges. Winners receive cash prizes, as well as assistance in following through with their business plan.

Dr. James Litton, director of the Griggs Center for Entrepreneurship and Philanthropy, believes the competition is very valuable for students.

“It helps them go through the process of entrepreneurship and put together a plan for business,” Litton said. “They get valuable feedback from entrepreneurs.”

Josh Archer, senior information systems major from Grapevine, has not yet completed his application but plans to participate again. Archer is working with his partner from last year’s competition.

“He gets my ideas and kind of puts them on the ground,” Archer said. “He actually helps me work through a business idea from just a cool idea.”

Asa Kusuma, senior computer science major from Annandale, Virg. entered the competition with partner Tim Johnston, senior IT major from Coppell, not expecting to win.

“We were definitely hoping to place well,” Kusuma said. “But we weren’t expecting to win.”

Kusuma’s application was influenced by his interest in business and ideas and learning more about business in general.

“I just wanted to learn more about the financial side and how companies work – the whole process,” Kusuma said. “[Springboard] offered a lot of material and help in that respect.”

Kusuma placed first in the student division of the Springboard Ideas Challenge 2011. He and Johnston received $7500 and assistance in following through with their concept.

This year, the top prize for the college division is $10,000.