DENTON (UNT), Texas - Music students at the University of North Texas are invited to create and submit business plans as part of the College of Music’s inaugural Music Entrepreneurship Competition.

Competitors will be eligible to earn cash prizes totaling $18,000, which can be used by the students to launch start-up businesses.

Fabiana Claure, director of career development and entrepreneurship in music, said the competition aims to engage students in entrepreneurial thinking and help them develop plans of action.

“We want students to know that even though they are busy with coursework, college is one of the best times to start a business,” Claure said. “So many trendsetting businesses, from Google to Facebook, were started by college students.”

Claure knows the potential for such competitions. She won several prizes in a similar contest as a doctoral student at the University of Miami, which helped her launch her own business, Superior Academy of Music, in Miami, shortly after graduation in 2011.

UNT’s competition will have a graduate and undergraduate track, and all College of Music students are eligible to enter.

To develop business plans, students can use a variety of resources, including online tutorials, existing courses, university-sponsored workshops and faculty mentorship. Plans must include summary statements, business descriptions, market analyses, operations statements and financial information.

A panel of judges will include musicians and business people from North Texas and beyond. The competition also will host an artist-in-residency featuring David Cutler, author of The Savvy Musician and founder of the Savvy Arts Venture Challenge at the University of South Carolina.

Deadline for entries is March 15, and three finalists and two honorable mentions in each track will be announced April 14. A grand finale on April 23 in the College of Music’s Recital Hall will feature a live audience. Judges and audience members will be able to ask questions and vote on their favorite students before an awards ceremony. The event is free and open to the public.

For more information, go to http://career.music.unt.edu/competition.