Rice Business Plan Competition Winner Rings NASDAQ Closing Bell
June 19, 2009 - Rice University Business Plan Competition Winner Rings Closing Bell at NASDAQ OMX Stock Market
Fourth time at NASDAQ is a charm for Dynamic Inc.’s leader
At 4 p.m. EDT today, Jeff Mullen, CEO of Dynamics, Inc., along with his colleagues Bruce Cloutier, vice president of engineering; Philip Yen, vice president of product management; Daniel Gantt, general counsel and Andy Hicks, board of advisors for Dynamics Inc., presided over the NASDAQ OMX closing bell ceremony in New York City as the winners of the 2009 Rice University Business Competition. The team is from Carnegie Mellon University in Pittsburgh, PA.
This is the fourth time Jeff Mullen has attended a NASDAQ closing bell ceremony, but this is the first time he has had the honor of actually ringing the bell himself. Mullen’s law firm in Austin sponsored the University of Texas – Austin business plan competition, MOOT Corp. for a number of years, and Mullen attended the events as a sponsor.
“This time is much sweeter,” said Mullen. “Our company, Dynamics, Inc., is front and center this time as the winner of the Rice Business Plan Competition. I’ve always been a supporter of entrepreneurship and cheered for the winners of those other competitions, but it is much sweeter when your idea, your business is the one that has been chosen above the rest, is raising funding, becoming a true business, and hopefully in our case, changing the way business is done.”
Dynamics, Inc., produces next-generation interactive payment cards that utilize programmable magnetic stripes to communicate dynamic information to the 60 million 1970s era magnetic stripe readers that are used in our day to day payment card transactions. This revolutionary technology could change how credit cards operate, giving significantly more security and flexibility to users.
Brad Burke, Managing Director of Rice Alliance for Technology and Entrepreneurship, host of the competition; Marti Boone, Senior VP of Marketing, Greater Houston Partnership, competition prize sponsor; joined the Dynamics, Inc. executive team in the NASDAQ OMX studios to ring the bell. The NASDAQ OMX three-story billboard in Times Square heralded the event.
This is the second year that NASDAQ OMX has sponsored the Rice Business Plan Competition and Dynamics, Inc., is the second team to ring the bell. Representatives from NASDAQ OMX also judge the competition held April 15-17 this year at Rice University, Houston, TX.
Closing ceremonies took place at NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio on Friday, June 19 at 4:00 p.m. EDT
The Closing Bell is available from 3:50 p.m. to 4:05 p.m. on AMC-3/C-3 (ul 5985V; dl 3760H). The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Robert Madden at (646) 441-5045.
An audio transmission of the Closing Bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Ascent fiber 1623 as well.
A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx
To obtain a high-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.
About Rice University Business Plan Competition:
Rice University Business Plan Competition (RBPC) is the world’s richest and largest business plan competition. During the competition’s eight-year history, 37% of teams (84 out of 228 past competitors) have gone on to successfully launch their business. In 2008, 25 of the 36 teams launched their companies after competing at the RBPC. More than $145 million in early-stage funding has been raised by Rice Business Plan Competition participant companies. There are 200+ judges on the judging panel consisting of “who’s who” of the investor, venture capital, entrepreneur, & business community. 76% of our judges said that they were considering investing in a 2009 competitor.
About Dynamics, Inc.:
Dynamics produces next-generation interactive payment cards that utilize programmable magnetic stripes to communicate dynamic information to the 60 million 1970s era magnetic stripe readers that are used in our day to day payment card transactions, reducing $20 billion in annual fraud and associated costs.