Perlman Prize: Wharton announces $1.65M contribution to Wharton Business Plan Competition

In the most sizable donation ever for the Wharton Business Plan Competition, local philanthropists Ellen Hanson Perlman and Richard E. Perlman donated $1.65 million to the program, Wharton announced yesterday. Part of the contribution will go toward a newly-created $45,000 “Perlman Prize,” which will be awarded to the team judged to have the most potential, according to the release.

This year’s competition is already in process. Find out about the program here.

Previously, sponsors, donors and Wharton itself funded the seven-month competition, a spokesman for the school said, but this contribution marks the program’s largest donation yet. The first Perlman Prize will be awarded at the annual finals on April 24, which coincides with Philly Tech Week.

Previous Wharton Business Plan Competition participants include Stylitics, a fashion analytics startup now based in New York City, and eyeglasses retailer Warby Parker, another transplant to Manhattan.