Cybersam's Blog - $50k Finals, No Dice

Friday, May 06, 2005

$50k Finals, No Dice

After 2 weeks of suspense, the finalists for the MIT $50k Competition were finally announced on Wednesday night. Sigh... Sorry to say, my team didn't make it to the finals. I was disappointed but the competition was a great learning experience for me and it certainly kindled the entrepreneurial spirit within me.

For old time sake, John, our team leader, organized a get together over a few pints of IPA beer at the Muddy Charles in the afternoon today. It was consolatory to note that none of us was dwelling on not making to the finals. We identified possible weaknesses in our business plan and outlined a 6-month plan for our venture. In hindsight, we were probably a little optimistic with the revenue streams in our business plan, as well as being 6 months too early in making a pitch to venture capitalists with our business. Nevertheless, everyone in the team still believes that the business and technology of our venture is viable. We'll see where this venture takes us.

5/6/2005 11:46:06 PM (Eastern Daylight Time, UTC-04:00) Comments [22] Entrepreneurship
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