More than $50,000 in cash awards and services is up for grabs in the annual G. Steven Burrill Business Plan Competition, which takes place May 2. The deadline to apply is Feb. 28.

The contest is open to all University of Wisconsin undergraduate and graduate students. According to the contest rules, the purpose of this competition is to encourage collaboration across disciplines, meaning that students are encouraged to pair with others that have complementary skills and experiences.

A new prize this year comes from the AARP Foundation, which is offering $5,000 to the team that can address the issues of hunger, housing, income and isolation for individuals 50 and older.

Last year, Justin Vannieuwenhoven won the competition with his CFS Holder, a self-adjusting rod that keeps bait at a designated height, even in choppy water.