8:48 a.m., Oct. 22, 2009----After a long, crowded, expensive train ride home to New York State, University of Delaware student Francois Chaubard thought of an easier way. That's when he came up with the idea for BusBookie.com, an online demand-driven bus chartering business.

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Chaubard, who graduated from UD in 2009 with a bachelor's degree in mechanical engineering, and partner Brandon Maas, who graduated in 2008 with a bachelor's degree in computer science, took the idea to the University of Delaware Business Plan Competition, where they fine-tuned the concept, developed a detailed business plan, and won a first prize at last year's competition.

The 2010 University of Delaware Business Plan Competition is actively seeking submissions by student entrepreneurs with business ideas who want to turn them into reality. The competition is open to students across all disciplines and colleges at the University of Delaware, graduate or undergraduate. Faculty, staff, and alumni ideas also are eligible, provided that at least one student is on the team and participating.

The first competition deadline is Friday, Oct. 30, with entrants submitting a three-page business overview. Submission of a full business plan is due by Feb. 15, 2010, and all finalists will present their business to the 2010 Business Plan Competition on April 22 in conjunction with the President's Forum on Innovation and Entrepreneurship on April 23. The competition is co- sponsored by the Venture Development Center and UD's Office of Economic Innovation and Partnerships.

Individual competitors and teams are encouraged to seek the assistance and participation of UD faculty, alumni, researchers, and staff.

Students and teams can still begin the process after Oct. 30, but early submission of a business overview is encouraged so that students can be partnered with business mentors and fully take advantage of available resources, explains Scott Jones, UD professor of accounting and director of the Business Plan Competition. "Developing a business plan is a challenging process, and the more sounding boards and feedback a participant can have, the better the outcome," stresses Jones.

Chaubard agrees, saying, "Creating a business plan allows you to solidify your thoughts and analyze every aspect of your business, and talking to a business Ph.D. about your business issues is an irreplaceable asset. A number of Pandora's boxes were opened during the development of our business plan. Had those issues stayed undiscovered, we would not have been successful."

Cash prizes and other business services are provided to the winning companies. Competition judges include venture capitalists, investment bankers and other financial investment professionals.

Mentoring opportunities are available to members of the business community who are familiar with the challenges of starting and running a business. Mentors review the student's submission, offer advice and insight helpful in refining the idea, and encourage the student to persevere through the difficult process of writing a business plan.

Interested members of the business community may contact Scott Jones for details at (302) 831-8278 or [sjones@udel.edu].

As for BusBookie, Chaubard says it's blossoming. "So far the demand for BusBookie.com's low prices has been substantial here at Delaware. This semester we have had six trips already, and many more in the works. We have run Phillies tailgate bus trips, Six Flags trips, Baltimore Inner Loop trips, and New York City trips. We plan to run Atlantic City trips and more District of Columbia trips. "

The Business Plan Competition was created in 2004 to find new venture ideas and build successful businesses, as well as to provide education and networking opportunities for students.

More information about this year's Business Plan Competition, including deadlines, eligibility requirements, and submission guidelines, is available at the Web site.

Information about the President's Forum on Innovation and Entrepreneurship is available at the Web site.

Article by Nora Riehl Zelluk
Photo by Duane Perry