Henry A. Panasci Jr. Technology Entrepreneurship Competition

Requirements of Award Recipient

Award recipients must use the award money to fund the winning business plan. Specific requirements and reporting will be required in order for the award to be distributed.

•  The award must be used for business expenses related to the startup of business activities as described during the competition and in the business plan.

•  A cash advance of $5,000 will be provided to the winning team.

• Payment of the remaining balance of the award will be provided upon receipt of a financial report detailing the expenses for which the previous payment was used. Each report should be accompanied with original receipts.
• Until the entire amount of the award is paid to the award winning team, quarterly reports should be submitted to the Center for Entrepreneurial Leadership within 7 days from the end of quarter. Failure to file these reports or display reasonable progress in your business planning will delay or eliminate an installment payment. Each report must summarize progress between:

•  July 1 through September 30, 2008

•  October 1 through December 31, 2008

•  January 1 through March 31, 2009

•  April 1 through June 30, 2009