12/23/02

FOR IMMEDIATE RELEASE

Contact: Katherine A. Cota-Uyar, program manager, John Pappajohn Entrepreneurial Center,

(319) 273-7350

Gwenne Culpepper, University Marketing & Public Relations, (319) 273-2761

John Pappajohn Center to offer loans for small business start-up

CEDAR FALLS, Iowa --Wellmark Blue Cross and Blue Shield has committed $250,000 per year for five years, to the University of Northern Iowa John Pappajohn Entrepreneurial Center (JPEC) to fund loans for the start-up of Iowa businesses.

Venture projects in northeast Iowa will be identified, investigated and recommended by JPEC to Equity Dynamics, a venture capital firm founded by John Pappajohn. Equity Dynamics will review the recommended projects, perform the necessary financial due diligence and, if appropriate, approve funding. Typical funding will be $10,000 to $50,000.

Those with venture projects in northeast Iowa should consult the Dubuque Small Business Development Center at (563) 588-3350 or the UNI Regional Business Center in Waterloo at (319) 236-8123 for information on business plan format and required components.

For more information, visit www.jpec.org; or contact Katherine Cota-Uyar, program manager, at (319) 273-7350 or katherine.cota@uni.edu.

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12/23/02

FOR IMMEDIATE RELEASE

Contact:

Katherine A. Cota-Uyar, program manager, UNI John Pappajohn Entrepreneurial Center,

(319) 273-7350

Vicki Grimes, University Marketing & Public Relations, (319) 273-2761

Note to editors:  a 200 dpi photo of Worthington and her husband, Wayne, is available at

http://www.uni.edu/pubrel/newsroom/photos/worthington.jpg

UNI's student business wins business plan competition

CEDAR FALLS, Iowa -- Toothfairycentral.com, a business started by a part-time University of Northern Iowa student, won one of three $5,000 awards presented Friday, Dec. 13, in Des Moines, at the Third Annual Pappajohn New Venture Business Plan Competition.

Toothfairycentral.com is owned by Glynis Worthington of Waterloo, who started the business, when she could not find the perfect tooth fairy items for her children.  The Web site offers tooth fairy boxes, pillows and gifts, certificates of accomplishment for children and a travel log of tooth fairy visits around the world.

The Pappajohn New Venture Business Plan Competition is an annual event held in the fall semester of each academic year.  Iowa full- and part-time college students with an original new business idea write a business plan and compete at the regional and state levels for monetary awards to help launch their new businesses. Three $5,000 awards are presented at the state level.

The three state winners were toothfairycentral.com from the University of Northern Iowa; Cactusjo.com, an interactive, multimedia, subscription Web page providing family entertainment, from Iowa State University; and Peace of Mind, which designs, manufactures and distributes affordable infant monitors, from the University of Iowa.

The Pappajohn Entrepreneurial Centers provide a broad range of innovative education programs and support service for students, entrepreneurs and existing business owners.  The centers provide expertise in all stages of business planning and development, and serve as vehicles to bring new products and technologies to market.

For more information about the John Pappajohn Entrepreneurial Center, visit www.jpec.org, call (319) 273-7350, or e-mail katherine.cota@uni.edu.

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