Onit’s President to Judge the 14th Annual Rice University Business Plan Competition

HOUSTON — (BUSINESS WIRE) — Onit, a leading provider of Smart Process Apps, today announced that its President Eric M. Elfman will serve as a judge for the Rice University Business Plan Competition. Scheduled for April 10-12, the program is known as the world’s richest and largest graduate-level business plan competition.

This will be the 13th year that Elfman has judged the competition, which is hosted by the Rice Alliance for Technology and Entrepreneurship and the Jesse H. Jones Graduate School of Business. The competition has grown from nine teams competing for $10,000 in prize money in 2001 to 42 teams from around the world competing for more than $1.3 million in cash and prizes. More than 130 past competitors have gone on to successfully launch their businesses, raising in excess of $600 million in funding.

During the competition, the entrepreneurial teams “pitch” both their business plans and visions to the judges. Each presentation is graded by the judges as if they were venture capital investors themselves. The winner of the competition is the business that the judges would most likely invest in based on the quality of the idea, the strength of the management team and the clarity and persuasiveness of the written plan and oral presentation.

A majority of the judges for the competition are members of the investment community or have extensive experience with start-up ventures. Elfman, a successful serial entrepreneur, has founded and funded three companies to date.

To learn more about the competition and its rigorous judging duties, visit http://alliance.rice.edu/rbpc.aspx.

About Onit

Onit was formed by legal software industry experts Eric M. Elfman and Eric A. Smith, co-founders of Datacert, a leading provider of enterprise spend management software. Launched in early 2011, Onit deploys Onit Apps to simplify business process automation and improve business productivity across all departments and industries. The Onit App Builder allows business users to drive efficiency and productivity by combining business process management, project management, and information management into one easy to use tool so the user can create their own Onit Apps without having to rely on IT for support.

Businesses have processes for everything — whether it’s hiring a vendor or law firm, terminating an employee, submitting a contract for review, requesting a trademark request, obtaining an NDA, etc. Most of these processes are manual, paper intensive and cumbersome. With Onit Apps, processes are automated in a few clicks, responsible parties are notified immediately, and data collection is centralized. Onit doesn’t require any software to download or resources from IT. For more information, visit www.onit.com or contact 1-800-281-1330.