The Woltemade Center's Entrepreneurship program grew out of a 1985-86 experimental course titles Innovation and Entrepreneurship in the Dynamic Economy. The course focused on entrepreneurship across the broad spectrum of our economy and brought outstanding business practitioners and academicians to the OWU campus. Endowment funds from the GAR Foundation and from Friends of the Woltemade Center have enabled this course to be offered every year since then. A significant part of the course grade is based on a term project which requires that student teams develop a business plan for a new venture idea and ultimately present their plan to a panel of three judges (i.e. banker, lawyer and entrepreneur) that are drawn from the local community. The Entrepreneurship program is strengthened by a grant obtained from the Burton Morgan Foundation in 1998 for an annual student paper competition the field of entrepreneurship. The winner of the Burton Morgan Student Paper Competition receives a $500 cash prize.