NEWS: A winning business plan for 'Second Life'

News/Social Networks/Second Life/Business
Found on: news.com

Minnesota-based research company, Market Truths took home first place honors in the first-ever business plan contest in Second Life.

Cnet News.com post:

The honors, announced Monday, went to Minnesota-based Market Truths, which devised a market research and analysis system to help real-world companies figure out what works and what doesn't in the burgeoning virtual world.

The contest's judges rewarded the Market Truths submission because the team has conducted similar market research in the real world for years, and because it appeared to have the best profit potential of the four finalists.

"I was really impressed by the quality of (all) the ideas we received," said Susan Wu, a contest judge and a venture capitalist from Charles River Ventures. "Each one of these businesses could turn into a viable ongoing enterprise, not only in terms of Second Life, but as a service that stands across multiple virtual worlds."