January 13, 2014 Updated: January 13, 2014 at 5:36 pm
The University of Colorado at Colorado Springs is taking another dip in the shark tank.
The El Pomar Institute for Innovation and Collaboration at UCCS is partnering withPeak Venture Group to sponsor a business plan competition from 5:30-7 p.m. Feb. 24 at The Lodge on the college's campus.
The format is similar to the popular "Shark Tank" television series in which entrepreneurs pitch their plans to a panel of judges - entrepreneurs and executives known as "sharks."
The panel then decides whether to invest in their ideas.
The Colorado Springs competition, which is not affiliated with the TV show, awards $500 to the winning entrepreneur or company.
At the first local competition last February, Clvr TV won the $500 prize over four other startups for its plan to develop software that would allow people to tag anything in online videos.
This year's competition, called "The Lion's Den Pitch Night," will feature six ventures, including teams of UCCS students. Each team will have five minutes to present its plans to the judges.
Individual entrepreneurs or teams must apply at pitchnight.org/pitch and send a copy to LetMe Pitch@PitchNight.org.
Peak Venture Group hosts monthly pitch nights during which three entrepreneurs are selected to pitch their business plans to other entrepreneurs to help them sharpen their presentations before they make them to potential investors.
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