Prepaid Internet credit card for teens captures CU business plan contest

The team from the College of Business and Administration’s Business Plan preparation course, taught by professor Steve Lawrence, won $33,000 in prize money. The team won the first-place $3,000 prize from Bank One, the $20,000 Cornerstone Equities Seed Capital Award and the Integer Group’s Excellence in Marketing Award worth $10,000.

In addition to the prize money, Cornerstone Equities will invest between $25,000 and $250,000 of venture capital in Wally.com.

Wally.com focuses a heavily targeted group of consumers – teens. The Web site allows teens who cannot access credit cards or commercial bank accounts to purchase a pre-paid Internet “credit” card for shopping…