Wharton School Team Wins University of San Francisco 2004 International Business Plan Competition - MicroMRI of the Wharton School Takes Home Pacific Specialty Insurance $10,000 Grand Prize. See Complete Results of the USF Entrepreneur Contest at http://www.BusinessPlanCompetition.org
The University of San Francisco 2004 International Business Plan Competition is one of the most competitive events of its kind, with over 150 graduate student entrepreneur team applications from 100 universities in 18 countries around the world. A Wharton School Team, MicroMRI, took first place, with a team from the Univ. of Georgia, ThruSkin Technologies, coming in second. Please find complete results at http://www.BusinessPlanCompetition.org.
San Francisco, CA (PRWEB) May 14, 2004 -- We are delighted to announce the
results of the University of San Francisco 2004 International Business Plan
Competition. The USF contest, one of the most competitive events of its kind,
with over 150 graduate student entrepreneur team applications from 100
universities in 18 countries around the world, for the 25 semifinalist
positions, was an exciting, enriching, and exhausting experience for everyone
involved. The intense competition to present at USF is driven largely by the
world-class caliber and quantity of the venture capitalist partners and CEOs
that judge the event. This year’s contest included more than 50 judges
representing many leading venture capital firms (e.g., Asset Management, Garage
Technology Ventures, Hummer Winblad, and Kleiner Perkins), investment banking
firms (e.g., Pacific Growth Equities), law firms (e.g., Hanson Bridgett),
commercial companies (e.g., Pacific Specialty Insurance), entrepreneurs (e.g.,
NAPSTER founder Shawn Fanning), and government agencies (e.g., NASA).
The USF Entrepreneur Contest was held March 31 to April 3, 2004 at the
USF Lone Mountain Campus and the Hyatt, SF Fisherman’s Wharf. The agenda
included: warm-up/feedback sessions on the first day with a mixer in the
evening, a cable car tour of San Francisco and elevator pitch contest on the
second day, semifinal sessions and a formal dinner on the third day, and a final
round session and wine-tasting awards reception on the fourth day.
Naturally, all of the semifinalists that competed at the USF Contest
were winners in their own right, receiving extensive exposure to and feedback
from leading Silicon Valley venture capitalists and senior executives. The
venture capitalists judging the event were clearly impressed with the
semifinalist teams they saw. For example, Joe Mandato, partner with De Novo
Ventures, indicated, “The quality of the teams spoke volumes on USF's growing
recognition as a leading center of global entrepreneurship.” Ian Patrick
Sobieski, general partner of the Band of Angels Fund, added, “The event was
packed with innovators and their innovations. It was both a business opportunity
and intellectual feast."
At least seven entrepreneur teams that were
approached by venture capitalists for further discussions during or shortly
after the contest. Ronald DiFelice, a finalist from the University of North
Carolina, for his company, Alpha V, confirmed, “The competition was a great
experience - we received invaluable feedback about the business and the exposure
for the company was immense. We ended up having five solid contacts to follow up
with after the event." David Vinca, a finalist from the University of Chicago
for his company, Ripula, echoed this sentiment, saying, “The judges represented
the best VC funds in the San Francisco area. The judges were honest,
constructive, and in some cases very encouraging! Finally, the organizers
planned an event (down to the important details) that encouraged networking and
facilitated important feedback for the business plan teams. The competition far
exceeded our expectations." Team faculty advisors also found the time and effort
for the trip to USF worthwhile. Steven J. DeKrey, Ph.D., associate dean, and
director, Hong Kong University of Science and Technology Business School,
commented, “Many thanks for your heroic efforts in hosting such an exceptional
competition. It was by all accounts world class and a joy to attend. … My team,
Free to GOal, learned a great deal and will carry these lessons through their
lifetime."
We expect that most of the teams that competed at USF will
prosper in their chosen ventures, and we look forward to supporting their
efforts and tracking and reporting their progress over the coming months and
years. We invite graduate student entrepreneur teams from all nations to apply
to compete at the USF 2005 Contest (http://www.BusinessPlanCompetition.org).
In the
following we provide the list of the USF 2004 International Business Plan
Competition finalist teams.
Grand Champion - Pacific Specialty Insurance
$10,000 prize - MicroMRI - University of Pennsylvania, Wharton School;
Second Place Winner - $3000 prize Thru-Skin Technologies - University of
Georgia;
4 Finalists - $1000 prizes
Alpha V - University of North
Carolina
(And Elevator Pitch Contest - Second Place - $500)
LoDrag Inc. -
University of Texas at Austin
(And Elevator Pitch Contest Winner -
$1000)
OrganoDevice Technologies - Univ. of Illinois, Urbana-Champaign &
Purdue University
Ripula - University of Chicago Graduate School of
Business
Please find complete results at http://www.BusinessPlanCompetition.org.
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Source : http://www.prweb.com/releases/2004/5/prweb125225.htm