Ten finalists are one step closer to claiming a $40,000 grand prize in the Utah Entrepreneur Challenge.
Judges selected the finalists from a group of 27 semi-finalists earlier this week. The judging panel for the competition is composed of business professionals from around the city.
More than 200 teams registered for the competition, which began last October. However, Leonard Black, director of the Utah Entrepreneur Center, said that more than 30 percent of those who registered failed to complete the first requirement of submitting an executive summary.
The finalists represent a diverse range of businesses. While names were not announced, businesses dealing with personalized college applications, street soccer and personalized domain names are just a few of those trying to gain the approval of judges at this year’s competition.
Three of the 10 teams include U students.
The winning team will receive a $40,000 grant to help achieve its business goals.
Finalists will give a final presentation of their business to a panel of judges this Saturday. The grand prize will be presented to the winning team at an awards banquet on April 19 at Rice-Eccles Stadium.