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Rice University Business Plan Competition Announces 2006 Winning Teams

HOUSTON, April 4, 2006—One of the world’s largest business plan competitions awarded more than $260,000 in cash and prizes at an awards banquet on Saturday, April 1, marking the conclusion of the three-day Rice Business Plan Competition (RBPC), the world’s richest university-based business plan competition in guaranteed cash prize money.
 
The Rice Alliance for Technology and Entrepreneurship and the Jesse H. Jones Graduate School of Management at Rice University hosted the sixth installation of one of the top entrepreneurial gatherings in Houston. Thirty-five of the top MBA schools from around the world presented business plans to a panel of more than 150 distinguished judges were selected based on their expertise in venture capital, early-stage investing, and entrepreneurship.
 
The Grand Prize valued at over $165,000 was awarded to The Dartmouth College team, Advanced Transit Enterprises. Advanced Transit Enterprises is commercializing a patented tractor-trailer rear drag aerodynamics technology to improve fuel efficiency in the long-haul trucking industry. The team from ATE was awarded:

  • $100,000 Investment Prize from the GOOSE Society of TexasTM, (the “Grand Order of Successful Entrepreneurs”).
  • $20,000 cash award provided by Shell Technology Ventures
  • Office space and facility services provided by the Houston Technology Center and 1-service valued at $15,000
  • Roundtrip airline tickets on Continental Airlines
  • The development of  a company Web site and hosting services for one year from RentTheSite.com
  • Software package from Microsoft
  • Business mentoring from the Silver Fox Advisors
  • Marketing and design services provided by Brand Extract and The Padgett Group valued at $25,000
  • Automatic entry into the 2006 MOOT CORP competition

The first place team was not the only school to go home with cash and prizes. Thirty-six cash prizes totaling over $175,000 were awarded; other winners included:
 
2nd Place Team: Columbia University:
Strong Data Corp.

  • $15,000 cash award from Finger Interests
  • StrongData develops portable, secure identification technology for financial (next-generation credit cards) and other markets.

3rd Place Team: Stanford University: Renovus

  • $7,500 cash award from Sirius Solutions
  • Renovus provides an ostomy-management technology that offers a complete solution for patients who have undergone ostomy surgery. This technology allows patients to return to a more normal method way of life.

4th Place Team: Carnegie Mellon University: NeuroLife

  • $2,500 cash award from GE Commercial Finance

5th Place Team: Texas A&M University: Cologenomics

  • $2,000 cash award from Administaff

6th Place Team: Duke University: Cytex Technologies

  • $2,000 cash award from Administaff

7th Place Team: Harvard University: Avanti Metal Co.

  • $2,000 cash award from Administaff

All seven finalists also received complementary Web site and hosting services for up to a year provided by RENTthesite.com and software from Microsoft.
 
Other cash and prizes awarded to the competing schools included:
 
Murphree Venture Partners Wildcard Round Winners

  • First Place Team: Stanford University: Renovus (Advanced to Finals)
  • 2nd Place Team: San Diego State University: EnviroBinz
    • $1,500 cash award
  • 3rd Place Team: Southern Methodist University: Tabletop Media
    • $1,000 cash award
  • 4th Place Team: Wake Forest University: Audio Fusion Inc.
    • $1,000 cash award
  • 5th Place Team: University of Michigan: Space Weather Forecasting Technologies
    • $750 cash award
  • 6th Place Team: University of Pennsylvania (Wharton): Leto Pharmaceuticals
    • $750 cash award

Fulbright and Jaworski Challenge Round
 
First Place Teams (in each of the 6 Challenge Round flights)

  • Georgia Institute of Technology, Intrinsic Securities
  • University of Colorado, Adventure Training Center
  • Massachusetts Institute of Technologies (MIT), One World Medical Devices
  • University of Georgia, Internet Security Co.
  • University of Arizona, InterKinetic Technologies
  • Babson College, PeopleAhead.com

Second Place Teams  (from each of the 6 Challenge Round flights)

  • UCLA, The Filling Station
  • University of Illinois at Chicago, OrthoAccel Technologies
  • University of Manitoba, GlucoCor
  • University of Toronto, RJI Golf
  • University of Texas - Austin, Extension Eleven

Austin Ventures Elevator Pitch Competition

  • First Place: Texas A&M University: Cologenomics, Inc.   ($1,000)
  • Second Place: Harvard University: Avanti Metal Co. ($750)
  • Third Place: Georgia Institute of Technology: Intrinsic Securities ($750)
  • Fourth Place: Dartmouth College: Advanced Transit Enterprises  ($500)
  • Fifth Place: Massachusetts Institute of Technologies (MIT): One World Medical Devices ($500)

Special Awards
 
Essex Woodlands Life Science Award

$2,000 – Best Life Science Business Plan
Stanford University: Renovus

Conley Rose IP Powerhouse Award

$2,000 – Best Intellectual Property
University of Illinois at Chicago: OrthoAccel Technologies

Energy Valley Award

$2,000 – Best Energy Business Plan
Yale University: Soltage

Chase Hispanic Business Plan Award

$2,000 – Best Business Plan from an Hispanic Team
University of Manitoba: GlucoCor

Entersys – Vuico IT/Wireless Award

$2,000 – Best IT/Wireless Business Plan
University of Arizona: InterKinetic Technologies

Houston Private Equity Association, Outstanding Written Business Plan Award    

$2,000 – Best Written Business Plan
Texas A&M University: Cologenomics

Houston Business Journal - Yaffe | Deutser, Sales and Marketing Award

University of Illinois at Chicago: OrthoAccel Technologies

The $100,000 investment prize was sponsored by The GOOSE Society of TexasTM, comprised of Rod Canion, Arthur A. Ciocca, Terry M. Giles, Jack M. Gill, PhD, Michael Holthouse, and Leo Linbeck, III.
 
This year the Grand Prize was sponsored by Shell Technology Ventures.  Other finalist prize sponsors included Administaff, Finger Interests, LTD., GE Commercial Finance, and Sirius Solutions.
 
Other cash prize sponsors included: Andrews Kurth LLP, Austin Ventures, LLP., Conley Rose, Chase Bank, DFJ Mercury, Energy Valley, Inc., EnterSys Group, Essex Woodlands Health Ventures, Fulbright & Jaworski, L.L.P., Houston Business Journal, Houston Private Equity Association, Locke Liddell & Sapp, LLP., Marsh, Main Street Capital Partners, LLC., Murphree Venture Partners, PC, Sternhill Partners, Vuico, and Yaffe | Deutser.
 
Other Competition sponsors included: 1-service, Access America Funds Group, Bank of America, BrandExtract LLC, Business Wire, Continental Airlines, DataCert, Deloitte, Ernst & Young, Gardere, Haynes and Boone, LLP., Houston Technology Center, HP Calculators, Jackson Walker, L.L.P., Microsoft, NASDAQ, RENTthesite.com, Silver Fox Advisors, Skyline, Sterling Bank, The Padgett Group, Winstead, Pannell Kerr Forster of Texas (PKF Texas), and Woodrock & Co.
 
Team sponsors included: Aquinas Corporation, British Consulate - General Houston, EnterSys Group, Frost Bank, Becky & Mario Grech, Glenn Rust, HBS Club of Houston, Katzenbach Partners, Ken Dennard, Linbeck Group, LP., MIT Enterprise Forum of Texas, Network International, Smith & Associates, Sternhill Partners, Tom & Mary Bates, Tom S. Gillis, and UK Trade & Investment.

The Rice Alliance for Technology and Entrepreneurship

 
The Rice Alliance for Technology and Entrepreneurship is Rice University's flagship initiative devoted to the support of technology entrepreneurship. The mission of the Rice Alliance is to support the creation of technology-based companies and the commercialization of new technologies in the Houston community and Gulf Coast region.
 
The Rice Alliance’s vision is simple, but grand - to help establish Houston as a leading technology and entrepreneurship center in the United States.
 
Since its inception in late 1999, the Rice Alliance has assisted in the launch of more than 170 new technology companies. Rice Alliance companies have raised more than $300 million in early stage funding. In excess of 300 early-stage technology companies have benefited from participation in Rice Alliance programs as either a presenter or technology showcase company.
 
The Rice Alliance provides a collaborative network and forum for support, education and exchange of ideas. It provides entrepreneurs access to the human and financial capital needed for success. During the past five years, the Rice Alliance has conducted more than 70 programs attended by nearly 15,000 individuals.
 
For more information about the Rice Alliance, visit www.alliance.rice.edu.
 
Media Contact:

CJ Pappas
713.590.3770
CJ@ThePadgettGroup.com

Liz Crawford
Rice Alliance for Technology & Entrepreneurship
713.348.6354
rbpc@rice.edu