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Citadel News Service

For release
April 12, 2002

Fourth Annual Krause Business Competition
promotes entrepreneurial success in cadets

          Four teams of cadets will compete in the final round of the Annual Krause Business Plan Competition for $30,000 in scholarship awards. The competition, which opened this year with 22 teams competing, is in its fourth year. The teams will present their entrepreneurial plans in front of a panel of judges from 8 a.m. until 3 p.m. in Bond Hall, room 166, on The Citadel campus Friday, April 26.

          The competition is funded by a generous grant from the Krause Foundation, a private foundation established by Citadel alumnus Bill Krause, class of 1963, and his wife Gay. Open to cadets of all academic disciplines, the competition was designed to encourage Citadel cadets to become involved in launching new real-world business ventures.

          The proposed new ventures to be presented this year are Fountain of Youth, a business which would build and operate health and fitness centers in apartment communities; Health Nutz, a health food restaurant to be established in the Chicago area; 3-S, Inc., a company which would provide document shredding, storage, and security for business and government agencies; and Windy City Full Service Parking, a parking facility which would also provide washing and lube services to its customers.

          Business leaders judging this year's competition are Bill Krause; Bill Bennett, founder of Vision Service Plan Corporation; Andy Donnelly, former chief executive officer of the Ralston Purina European Operation, and Nancy Snowden, a successful entrepreneur who founded NCGS, Inc., a medical testing service, and is currently owner of the Charleston restaurant Carolina's.

          The competition is coordinated by Citadel Department of Business Administration faculty, Dr. Mike Alford and Associate Dean Mark Bebensee. The public is invited to attend the competition.

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