Issue link: https://www.e-digitaleditions.com/i/54913
technology TOOLS OF THE TRADE Simplifying Competitions Business plan competitions have become a pervasive part of business schools' entrepreneurship programs. In the U.S. alone, more than 50 universities conduct business plan competitions each year, according to the Ewing Marion Kauffman Foundation in Kansas City, Missouri. But doing so can be such an organizational challenge that many schools might limit the size and scope of their competitions—or avoid them altogether. To simplify the process, the Kauffman Foundation has created iStart, a Web-based platform that provides schools with a tool to register applicants and judges, receive business plan entries, man- age communi- cations, assist applicants to keep track of deadlines, and monitor the application and judging process. The program also incorporates a networking function to help entrepreneurs connect to mentors and other resources. The foundation tested iStart with Rice University's 2010 business plan competition. The platform helped the school manage communications with applicants and administrators and customize the look and feel of the competition. The iStart platform also enables schools to mine data collected from multiple competitions and gain insight on the process. Katie Petersen, iStart manager, adds that the platform "makes the thousands of plans that are part of these competitions available to the world." To learn more, visit www.iStart.org. U.S. business schools offer up to US$10 million annually in plan competitions, according to the Kauffman Foundation. 70 May/June 2011 BizEd NCSU Taps into 'Big Data' COMMERCIALIZATION OF university-based inven- tions has become a top priority at many schools. But the process requires comprehensive searches of online data to identify trends, spot market opportunities, find potential investors, and research patents and copy- rights. For students and faculty, that work can be data- intensive, time-consuming, and overwhelming. And it's bound to get even worse: According to the annual "Digital Universe" survey from the research firm IDC, the amount of digital data has grown by more than 60 percent in the last year. IDC predicts the generation of digital data will increase by a factor of 44 over the next decade. The Poole College of Management at North Caro- lina State University in Raleigh is testing software to help organizations harness the meaning and power of these massive amounts of data—or "big data," as many are calling these large datasets. Last fall, the college's Center for Innovation Management Studies (CIMS) began working with the university's Office of Technology Transfer (OTT) to identify potential part- ners to commercialize two university technologies: new