Through the generous gifts of our donors, the Leland C. and Mary M. Pillsbury Institute for Hospitality Entrepreneurship at the Nolan School of Hotel Administration is pleased to offer an annual business plan competition – the Cornell Hospitality Business Plan Competition. The competition’s primary purpose is to provide an experiential and reflective learning opportunity to rising hospitality entrepreneurs. The competition begins at the start of the academic year with the formation of student teams and the development of a pitch video. As the academic year progresses, so does the competition. The field of teams is narrowed down to the top 10 semi-final teams in late Fall. The competition culminates in the early spring with the submission of final business plans and group presentations during the annual Hotel Ezra Cornell event. Our benefactors’ generous gifts and the funds accumulated from sponsorships within the industry allows the Pillsbury Institute to award the winning team a prize of $25,000, second place team a prize of $7,500, and third place team a prize of $5,000.
The term, ”hospitality business”, for the purpose of this competition, is broadly construed and includes businesses providing support services to the hospitality industry (e.g., businesses such as Micros Systems that provide software and hardware to restaurant and lodging businesses). It is critical that teams clearly state the relationship between their business and the hospitality industry. Students who are unsure about the relevance of their business concept to hospitality are highly recommended to consult with the event organizers make sure the concept qualifies as hospitality prior to submitting the pitch video.