Since VT KnowledgeWorks has announced its Second Annual Entrepreneurship Summit for April 7-8, 2010 at the Inn at Virginia Tech & Skelton Conference Center in Blacksburg, Virginia, now is a good time to think about the fundamentals of entrepreneurship.

Especially if one is thinking of entering the Business Concept Competition, open to all technology entrepreneurs in Virginia and western North Carolina, and doesn't want to get trashed.

When Jim Flowers, executive director of VT KnowledgeWorks, coaches entrepreneurs, he shares with them what he terms the Four Fundamental Factors.  As he explains in his blog, So you want to launch a business..., "Success or failure of a new venture is determined very early on the strength or weakness of only a few fundamental factors, four, to be exact."

Feel free to view the video and to see if the fundamentals of your entrepreneurial enterprise are in place to compete.

Video credit: Blacksburg Media

More on the Summit from VT KnowledgeWorks:

VT KnowledgeWorks, a regional business acceleration center that helps companies bring ideas to market, is excited to present the Second Annual Entrepreneurship Summit on April 7-8, 2010 at the Inn at Virginia Tech & Skelton Conference Center in Blacksburg, Virginia. This two-day comprehensive workshop is ideal for prospective company founders, entrepreneurs launching or re-vamping a business, growing companies seeking expansion capital, and individuals interested in investing in early-stage companies.

If you’ve ever wanted to start a business, here’s your chance to test your business concept and win a chance to accelerate your business free at VT KnowledgeWorks!  In conjunction with the Entrepreneurship Summit, a Business Concept Competition is open to all technology entrepreneurs in Virginia and western North Carolina to pitch their business concepts in front of an audience and panel of 150 business professionals.  
 
The PRIZE
The winning team gets its business accelerated at VT KnowledgeWorks, including:
- Admission to Founders’ Readiness Retreat
- Pre-Launch Strategic Package
- Virtual Residency
- One-year membership in Presidents’ Council
 
Registration
Individuals or teams of up to three people must register by filling out an Intent to Compete form online by February 5, 2010.  The cost to apply is $50.
 
More details regarding the guidelines and deadlines for the Open Business Concept Competition.  
 
More information about the Entrepreneurship Summit.

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VT KnowledgeWorks is a client of Handshake Media, Incorporated, the parent company of Handshake 2.0.