Chris Crook wanted to learn a new language—a language with international applications, but one not native to any country.   So the IT director at Humana enrolled in the College of Business IMBA 14 class—the MBA program for entrepreneurial thinking. His goal: To learn how to speak “business.”    
“Investors,” he says flatly.  “I want to learn the language of venture capitalists.” 

     Recently Crook and 10 other would-be entrepreneurs enjoyed a rare opportunity to practice their new tongue for a Louisville business icon who has just lent his name and support to the college’s annual business plan competition—Ballard T. Morton.   Among other things, Morton is renowned for his fluency in the many languages of business. 

      The IMBA 14 students met with Morton, a former CEO, Executive-in-Residence and one of the founders of the college’s top-ranked IMBA program, to get feedback on their plans and celebrate the newly christened Ballard Morton New Venture Competition.
     “Without Ballard’s expertise and unselfish devotion of time and financial support our IMBA program would not be what it is today,” said IMBA Director and Cobb Family Professor of Entrepreneurship Van Clouse. “From 1983 to 2001, his leadership seminar was probably the most popular course at the college.”
     Morton’s generosity will help guarantee the future of the New Venture Competition (NVC). Now in its 12th year, the competition provides up to $30,000 in awards and prepares students to participate in regional qualifying events for the Moot Corp Global competition. Throughout its history, the NVC has been funded by a combination of corporate sponsorship and donations from individual members of the college’s Entrepreneurship Council.
     “This proves to me how successful the IMBA program has become,” Morton told the students after watching their elevator pitch presentations.  “It (the competition) does what classroom experiences do not, especially teaching you how to work with other people successfully.”
     Although the competition isn’t until October, three teams of students are already honing their presentations in anticipation of critiques by venture capitalists, angel investors and other business leaders who act as competition judges. 
     The Green Plastic Technology team includes Charles Price, Jason Wade, Steve Flaherty and Whitney Austin.  Their concept is a breakthrough recycling process combining nuisance plastics with high-carbon fly ash.  The patented process yields a “green” mixture capable of manufacturing a variety of products.
     The Packstream team presented its concept for a unique packaging solution that embeds custom marketing opportunities in the fulfillment process by tailoring package wrap to each customer’s buying habits and interests.  Team members are Danny Bower, Patrick Just, Erik Nelson and Troy Thomas. 
   
     Commonwealth Nano team members Dan Turner, Chris Jones, Robert Raque and Crook promised a new manufacturing solution to the challenge of producing nano wires of higher quality at a lower cost. They hope to be a ‘disruptive force’ in an industry reportedly growing at 30% a year.
     “I have great expectations for all three teams,” said Clouse, who has led IMBA teams through more than 50 regional, national and international competitions.   “They have the potential to represent us very well in competition, and be great ambassadors for the college.”
     Crook, meanwhile, is eager to test his new language skills back at his Humana office.
     “Having a better ability to identify drivers and interest them in what you are selling is an asset in any company,” he said.  “It means you get to participate in decisions made at the highest levels.”
     The IMBA 14 students will present their business plans publicly at the Ballard Morton New Venture Competition, October 10-11, at the College of Business. The presentations are free and open to the public.  Program details will be posted on the web at business.louisville.edu in September. More information also will be available at 502.852.6440. 

(posted 6/25/08)