The John H. Muller Jr. Business Plan Prize Competition awards $5,000 to the Babson undergraduate individual or team that develops the best business plan for an entrepreneurial venture. The Muller Prize was established in 1997 through the generosity of former Babson President William F. Glavin and Mrs. Glavin. It honors the entrepreneurial accomplishments of John H. Muller Jr. P'79, H'96, founder and former chairman of General Housewares Corporation and chairman of the Babson College Board of Trustees from 1989 to 1997.

The award originated in 1984, as the Philip Charm Prize, with a generous gift from Leslie Charm '64 in honor of his father, Philip Charm. The Muller Prize continues Babson's tradition of honoring outstanding student business initiatives.

An panel of judges consisting of entrepreneurs, venture capitalists, and local business people evaluates the business plans and listens to finalists' presentations. The winning plan will be announced later that day.