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$100,000 On the Table in Purdue Life Sciences Competition

Get your business plans ready, because applications are now being accepted for Purdue's sixth annual University Life Sciences Business Plan Competition, an event on November 10th that will celebrate entrepreneurship in the field of life sciences and will award thousands to a few lucky applicants.

First prize in the competition is $30,000, plus $5,000 in legal services from law firm Baker and Daniels and $5,000 in business services from accounting firm Ernst and Young. The top Indiana team also receives $10,000 from BioCrossroads.

Second prize is $20,000, plus $6,000 in legal and business services. Third prize is $10,000, plus $4,000 in legal and business services. Fourth prize is $5,000, and the remaining four finalists each receive $2,500, Kahn said.

In addition, Purdue Research Park will offer business incubator space to the top finalist and affiliate status to the second- and third-place finishers. West Lafayette-based Seyet LLC will award in-kind 3-D computer graphics visualization services to the top finisher.

The emphasis with this competition is on cultivating new talent -- as such, entrants must represent new start-ups or companies that are no more than three years old. For more info and official rules, check out the official site. But whatever you do, don't wait -- though the event itself will be in November, applications are due no later than May 18th, so get cracking and good luck!

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