10.31.2006 - 02:45pm ET

(CSRwire) Houston - The Rice Alliance for Technology & Entrepreneurship of Rice University has teamed with The Dow Chemical Company on the 2007 Rice Business Plan Competition. Dow is establishing the new "Dow Sustainability Award" which comes with a $20,000 cash prize. The cash prize will be awarded to the team with the best business plan that supports one or more of Dow's 2015 Sustainability Goals.

"The objective of the Dow Sustainability Award is to encourage the identification and development of breakthrough technologies, in tandem with viable business models", says Scott Noesen, Director of Sustainable Development for Dow. "Some of the best solutions for addressing world problems require combining the right technology with a business model that can work in less developed areas of the globe. Dow is pleased to partner with the Rice Alliance to find these solutions through the Rice Business Plan Competition."

Teams that will be considered for the $20,000 "Dow Sustainability Award" must have a business plan that addresses the world's greatest challenges, in one of the following areas:

alternative/sustainable energy solutions

Examples include drought resistant crops, low cost modular housing, bio sand water purification systems, vaccines that do not require refrigeration, innovative power storage systems, and wind, solar, or wave power, and/or economically viable bio fuels.

Brad Burke, Managing Director, Rice Alliance said, "The Dow Sustainability Award further demonstrates the worldwide leadership role that Dow is providing in seeking technology breakthroughs to improve the quality of life for those who face daily the challenges to satisfy basic human needs: water, housing, food, health, and energy. Dow's support for this prize builds on the rich legacy of Dow leadership in solving some of the world's most pressing problems."

Dow's 2015 Sustainability Goals have a broad external focus that includes strengthening relationships with communities they operate in, continuing to improve product stewardship and innovation, and reducing the company's global footprint.

The winner of the Dow Sustainability Award will also qualify to compete for the overall Grand Prize at the 2007 Rice Business Plan Competition. The Grand Prize winner will receive $100,000 equity investment, $20,000 in cash, plus over $50,000 in mentoring and incubation services.

The 2007 Rice Business Plan Competition will take place on March 22-24, 2007. The competition, hosted by Rice Alliance, has grown to become the largest and richest intercollegiate MBA/graduate-level business plan competition in the world, with more prize money, more teams competing, and more judges than any other competition. In 2007, more than $300,000 in total cash and prizes will be announced at the Awards Banquet on Saturday night, March 24, 2007 at the Hilton Americas Hotel.

The competition will welcome 36 of the world's top MBA/graduate schools to compete at Rice University in Houston, Texas, in front of a judging panel of over 150 venture capitalists, investors, and business executives. The competition will conclude with an Awards Banquet that over 500 business leaders and executives will attend.

The 2006 competition included teams from top MBA schools such as Harvard, Stanford, Wharton, MIT, Carnegie Mellon, Dartmouth, Columbia, UCLA, and Chicago, as well as international teams from the U.K., India, and Canada. Through the mentoring and networking, numerous past competitors at the Rice Business Plan Competition have gone on to successfully launch their companies, raise funding, and build their businesses

About the Rice Alliance for Technology and Entrepreneurship

The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) is Rice University's flagship initiative devoted to the support of technology entrepreneurship. The Rice Alliance is a collaboration among the Brown School of Engineering, the Jones Graduate School of Management, and the Wiess School of Natural Science.

Since its inception in late-1999, the Rice Alliance has assisted in the launch over 175 new technology companies, which have raised more than $300 million in early stage funding. The mission of the Rice Alliance is to support the creation of technology-based companies and the commercialization of new technologies. The Rice Alliance provides entrepreneurs with a collaborative network and forum for support, education, and exchange of ideas. It offers entrepreneurs access to the human and financial capital needed for success.

About The Dow Chemical Company

Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.

For more information please contact:

Melissa Blakeslee
Rice Alliance for Technology & Entrepreneurship
713-348-3197

Nancy Fullerton
The Dow Chemical Company
989-636-8190

For more CSR news and information from this organization:

Corporate Social Responsibility Profile for Dow Chemical Company

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