UW Entrepreneurial Law Clinic Client Wins UW Business Plan Competition
Projected Talent, Grand Prize Winner of the 2014 UW Business Plan Competition, with Michael Bauer of the Herbert B. Jones Foundation. Photo Credit: Buerk Center for Entrepreneurship/Matt Hagen
Projected Talent, a client of the University of Washington School of Law's Entrepreneurial Law Clinic (ELC), won the $25,000 grand prize at the UW Business Plan Competition last week. The UW Business Plan Competition is sponsored by the Buerk Center for Entrepreneurship at the University of Washington Michael G. Foster School of Business. This year's competition included nearly 100 business plans from ten colleges and universities.
Projected Talent is an online marketplace that connects skilled undergraduate students to businesses, providing them with short, meaningful, paid projects. According to the company, this "allows students to gain valuable, relevant work experience and businesses to find and audition the best talent while accomplishing important tasks. By lowering the time, space, and financial commitment, more companies than ever are now able to connect with students."
The ELC provided legal assistance to Projected Talent regarding its incorporation documents and other aspects of the company's formation, including early corporate documents and procedures, capitalization and co-founder stock purchases, and an overview of the necessary business licenses and tax obligations.
"The resources provided by the clinic were incredible," said Samir Diwan, Projected Talent Co-founder and CEO, who is currently earning his MBA from the UW. "The free legal assistance helped tremendously, and allowed us to focus on growing the business."
The ELC teams law and business students with pro bono attorneys and business advisors to provide critical early stage legal and business counseling. In 2013, the ELC served 28 ventures, including ten microenterprises, six technology ventures and 12 nonprofit or social entrepreneurship projects.
"Students in the Entrepreneurial Law Clinic have the opportunity to get real world experience by working with promising startups and this year is no exception," said Professor Jennifer Fan, Managing Director of the ELC. "Since the ELC's inception in 2006, we have represented nearly every grand prize winner of the UW Business Plan Competition. In 2012 and 2013, students in the ELC placed first and second, respectively. We are thrilled that another one of our clients, Projected Talent, took the top prize this year."