Tulane Business Plan Competition Finalists To Compete For Start-Up Capital
New businesses include pharmaceutical, medical, biofuel, Internet and water treatment companies
The Tulane Entrepreneurs Association (TEA) and the Freeman School's Levy-Rosenblum Institute for Entrepreneurship has chosen its six finalists to compete in the 2012 Tulane Business Plan Competition and Domain Companies New Orleans Entrepreneur Challenge on Friday, April 13, at the A.B. Freeman School of Business at Tulane University. It begins at 8:30 a.m. and is open to the public.
Fifty-two companies representing 18 different universities and three countries applied to compete in the 12th Annual Tulane Business Plan Competition, which is unique in that it focuses specifically on conscious capitalism and awards $50,000 to the company that creates the best sustainable business model. The 2nd Annual Domain Companies New Orleans Entrepreneur Challenge will award $20,000 to the company that presents the best plan for the creation or expansion of a New Orleans-based business that demonstrates strong growth potential and positive local impact.
"With today's ever-challenging economy and the difficulty for college graduates to find work, many students are choosing a less traditional path to success and employment. They want to live their dreams through entrepreneurship and create companies that positively affect the way people live," said TEA President Court Robinson. "The six companies chosen as finalists represent the value of conscious capitalism, making a difference in the world."
This year's finalists include:
Tulane Conscious Capitalism Business Plan Competition - $50,000 Prize
Calcula, Stanford University – Calcula is developing novel urological medical devices for the removal of kidney stones without anesthesia. The opportunity is an advancement in the field of urology and has significant patient impact.
EpiQi Sciences, Brigham Young University – EpiQi Sciences is a drug repositioning firm formed to reposition an already FDA approved drug from its existing disease to treat anemia of chronic inflammation (ACI). After a projected three-year window to complete repositioning, EpiQi Sciences will license its patent rights to pharmaceutical companies.
SODI-CAN, Tulane University of Medicine – SODI-CAN is a dual-purpose water vessel that stores and disinfects water utilizing solar energy. The project was developed through the Tulane University School of Medicine's Medical Science Innovation Competition in 2011 with the purpose of conceptualizing a novel method of providing clean water. The idea began in Tanzania, where people walk miles carrying water to-and-from water springs, only to suffer from microbial related illnesses with inadequate water disinfection
Domain Companies New Orleans Entrepreneur Challenge -$20,000 Prize
Bideo, Loyola University New Orleans – Bideo.com (bid + video) is the world's first auction exchange for real-time trading of news video and photos. Bideo allows user-creators and citizen photojournalists to protect and sell exclusive images to news publications in a competitive bidding environment. The C2B platform combines free market dynamics, digital rights management, consumer technology and transparency to provide owners of rare, high-demand footage with the framework and tools needed to monetize big media's soaring demand for this emerging source.
Nanofex, University of New Orleans – Nanofex, based in New Orleans, is a for-profit company that addresses the demand for groundwater treatment by providing a novel, affordable, effective method for remediating hazardous chemicals commonly found in soil and groundwater.
ReactWell, L.L.C., Tulane University – ReactWell develops, manufactures and operates energy efficient underground geothermal reactor systems to economically produce and sell crude oil, bioproducts and other high-value oils, while increasing biomass growth rates. ReactWell is pioneering algae-based advanced biofuel technology by combining proven geothermal technology, bulk open-pond algae raceways, and solar energy to naturally, safely, and cost-effectively cultivate algae to produce valuable crude oil. ReactWell's proprietary technology converts total biomass and waste into crude oil and other co-products that are cost competitive compared to conventional oils derived from fossil fuels, plants, or animal fats.
With The Domain Companies' annual cash prize of $20,000 combined with the Tulane Business Plan Competition prize of $50,000, the grand total of prize money awarded through Tulane competitions $70,000. This is one of the largest cash prize awarded by a university business plan competition in the country.
The Domain Companies Founders Matt Schwartz and Chris Papamichael, both A.B.Freeman School of Business alumni, are focused on creating developments that not only revitalize and improve communities within New Orleans, but provide the housing, amenities and services necessary to attract and retain the creative class that will fuel the expansion of industries including biosciences, digital media and film production.
"We're excited about this year's finalists. As a New Orleans based company, we think it's important to develop a knowledge-based workforce and a thriving entrepreneurial community. The three companies competing in the Domain Challenge will make a big impact in this community and others. We hope to help facilitate the introduction of their unique technologies to the marketplace," said Domain Companies Principal Matt Schwartz.
One of last year's winners, Kickboard, formerly known as Drop the Chalk, which creates web-based software that enables teachers to use data to improve student performance, launched into the education technology market. Other successful start-ups that participated in the TEA and Domain competitions include RebirthFinancial.com, America's first person-to-business lending company; Pathostat, LLC, which has developed a patent-pending medical device that excises cancerous tissue during cancer surgery; and OsComp Systems, which is awaiting patent approval for technology that reduces operating and capital costs of compression in natural gas.
The Tulane Business Plan Competition and 2nd Annual Domain Companies New Orleans Entrepreneur Challenge final round is Friday, April 13 at the A.B. Freeman School of Business at Tulane University. It begins at 8:30 a.m. and is open to the public. For more information, visit www.tea.tulane.edu.
The Tulane Business Plan Competition was founded by students in 2000, with the goal of teaching students interested in entrepreneurship the set of skills needed to start a new venture as well as to expose these young entrepreneurs to investors who could fund their businesses. In recent years, the contest expanded to include social entrepreneurship ventures from regional, national and international university students. The Tulane Business Plan Competition remains one of the only student run competitions and awards one of the highest cash prizes nationwide.
Giving back to the communities in which they build stands at the heart of the culture at The Domain Companies. Domain is committed achieving award-winning excellence in every project they undertake. From master planning to architectural and interior design, the attention to detail and quality of their projects is unparalleled. Their developments are planned in close collaboration with neighbors and maximize environmentally sensitive and sustainable design. At the core of the company's mission, the long-term approach to development allows for the vision to create true value and ensure that their projects lay the foundation from which future progress is made. For more information, visit www.thedomaincos.com.
SOURCE: Tulane Entrepreneurs Association (TEA)