We're counting down towards the February 5, 2010 deadline for submitting an Intent to Compete form to the  VT KnowledgeWorks Second Annual Entrepreneurship Summit Business Concept Competitions - one for students, one open - by featuring a video a day on entrepreneurship by Jim Flowers, executive director of VT KnowledgeWorks.

Flowers has a series of videos on what he terms the Four Fundamental Factors of entrepreneurship.  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."

Here's an overview of the Four Fundamental Factors from Jim Flowers.

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VT KnowledgeWorks, a regional business acceleration center that helps companies bring ideas to market, will 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 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.

Here are step-by-step instructions for applying for the Open Business Concept Competition and step-by-step instructions for applying for Student Business Concept Competition.

Here's more about VT KnowledgeWorks on Handshake 2.0 and here's the VT KnowledgeWorks blog, Inside VT KnowledgeWorks.