About the Award
The Sontag Entrepreneurship Award Competition ("Competition") was established by the College of Business at the University of Nevada, Reno to develop the entrepreneurial capacities of University of Nevada, Reno students and facilitate the students' creation of new businesses in Nevada.
The Sontag Entrepreneurship Award ("Award") was funded with a major gift from alumnus Rick Sontag to the University of Nevada in 2011. The endowment created by the gift funds the award in perpetuity. The Award is a single prize of $50,000, given at the end of each spring semester to the winner of the competition, which takes place throughout the academic school year.
The Award and Competition is administered by the Sontag Award Administrator ("Administrator"), appointed by the Dean of the College of Business. The Administrator, establishes the rules and regulations for the Competition, manages Competition submissions, selects judges, promotes the Competition and seeks to ensure its quality, and advises the participants and judges regarding decisions that must be made to resolve issues associated with the Award or the Competition.
The Administrator will work to provide a support structure for student participants. The business plan requirements are part of this structure, aimed to ensure each business idea is carefully developed and evaluated. Because the Award must be used to assist the winner in developing the business, all business plans are required to describe how these funds will be used. Relationships (mentoring) between student teams and community business leaders are encouraged and facilitated.
The vision for the Competition and Award is the development of the next generation of entrepreneurs, leading to the launch of new business ventures by the students. As student business ventures are started and grow over the years, the University of Nevada, Reno will become increasingly recognized within the state as an incubator of entrepreneurs, who in turn enhance economic development throughout Nevada.
Learn more about the Competition rules.