Gift in Memory of Late Son Spawns SNHU Business Plan Competition

Thursday, March 17, 2011
SNHU Communications Office

Contact:Gregg Mazzola
Southern New Hampshire University Director of Communications
603.314.1461 g.mazzola@snhu.edu

Gift in Memory of Late Son Spawns SNHU Business Plan Competition

Manchester, N.H. (March 17, 2011) -- Cosmos and Lynda Marandos and their daughter, Tara, all of Nashua, have donated $100,000 to Southern New Hampshire University’s Center for Entrepreneurship Social Innovation (CESI) in memory of their late son and brother,  Tory. The gift will create the "Tory C. Marandos Foundation" and will be an endowed fund that will provide a cash award for an annual winner of the "Tory C. Marandos Foundation – Entrepreneurship Challenge."

All active businesses and potential start-up businesses in New Hampshire, with less than three years in business and less than $1 million in annual gross revenue, are eligible to participate. This year’s competition will kick off on April 1 when interested entrepreneurs and would-be entrepreneurs can begin submitting a two-page initial business concept paper.

Papers will be accepted until April 22. A preliminary selection and judging committee of SNHU faculty will review the initial concept papers and in early May select five finalists to submit full business plans.  The winner, to be announced on June 11th, will be selected on a competitive basis by a finalist committee made up of University faculty and staff, a member of the Marandos Family, and representatives of the Manchester business community.  The winner will receive a $5,000 cash prize to start and/or support his or her business. Visit the Tory C. "Marandos Foundation" - Entrepreneurship Challenge for full details.

Tory Marandos, General Manager of two of the Foxy Lady Gentlemen’s Clubs in New Bedford, Mass., and Providence, RI, died tragically on Dec. 12, 2006, at the age of 30.  According to his family, friends and co-workers, he managed the organization with dedication and pride. He was a caring young man who went above and beyond for his friends, family and anyone who came into his life.

"It has been a thrilling and uplifting experience in all honesty to be able to give this money to SNHU’s Center for Entrepreneurship as a legacy to our late son, Tory, who embraced the spirit of entrepreneurship in his own lifetime," said Cosmos Marandos.  "It was very important to our family that we find a home for this endowment that matched our belief and Tory’s belief that everybody deserves the opportunity to pursue their dreams."

"The Marandos Family called the University with the hope of connecting with someone who could help them shepherd their idea of a business plan competition in their son’s name and we were proud to honor their request," said Keith Moon, director of the Center for Entrepreneurship & Social Innovation.  "This is what we do at SNHU. From the leadership team on down, we recognize the value of civic and community service and with this most generous contribution from the Marandos Family, we will be able to encourage entrepreneurship in the state of New Hampshire, and help those with a vision for their business to flourish."

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