College teams compete for $500K in business plan competition


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ALBANY, N.Y. (AP) — Dozens of teams of New York college students are competing to turn their business plans into reality.

The final round of the 2016 New York Business Plan Competition is scheduled for Friday.

The competition began with more than 500 student-led startups from 64 colleges and universities around New York. That's now down to 86 teams representing 27 institutions.

The competition looks for innovations in areas such as nanotechnology, biotechnology, information technology and clean energy.

On Friday, the finalists will present their business plans to a panel of venture capitalists, angel investors, and investment bankers who will award the $100,000 grand prize.

The event takes place at the State University of New York Polytechnic Institute in Albany.

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