LIDROTEC, a student startup from RWTH Aachen University in Germany that aims to increase production in the semiconductor industry, took home the grand prize at the 2022 Rice Business Plan Competition (RBPC).

Amid semiconductor shortages worldwide, LIDROTEC says its technology can eliminate material waste in the cutting process during manufacturing, both saving money and increasing productivity.

The RBPC, hosted annually by the Rice Alliance for Technology and Entrepreneurship and Rice University’s Jones Graduate School of Business, is the world’s largest and richest student startup competition. This year’s edition saw 42 startups competing for more than $2 million in prizes.

The winners were announced at the conclusion of the three-day pitching, mentoring and networking event which included an Elevator Pitch Competition, Practice Round, Semi-Finals, Wildcard and Final Round. Compelling innovations presented by this year’s teams led sponsor companies to add a number of cash prizes at the last minute.

The 42 startups represented 34 universities from four countries, with 11 universities represented by two different teams. They were chosen from more than 400 applicants to compete in one of five categories: energy, clean tech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise.

The RBPC’s more than 250 judges act as — and most are — early-stage investors evaluating the startups’ potential. Teams pitch their businesses to investors, entrepreneurs, corporate executives and ecosystem partners during the event, then network and receive real-time feedback, advice and mentorship.

Significant prizes this year and the teams that won them include:

• $350,000 GOOSE Capital Investment Grand Prize — LIDROTEC, RWTH Aachen.
• $155,000 The OWL Investment Prize — Hoth Intelligence, University of Pittsburgh.
• $65,000 The OWL Investment Prize — Mallard Bay Outdoors, Louisiana State University.
• $50,000 The OWL Investment Prize — TransCrypts, University of Toronto and Harvard University.
• $250,000 TMC Innovation Healthcare Investment Prize — LymphaSense, Johns Hopkins University.
• $125,000 Softeq Venture Studio Prizes (two prizes) — Mallard Bay Outdoors, Louisiana State University; LIDROTEC, RWTH Aachen University.
• $100,000 Jon Finger and Finger Interests, David Anderson and the Anderson Family Fund, Greg Novak and Tracy Druce Second-Place Investment Prize — Hoth Intelligence, University of Pittsburgh.
• $50,000 Jon Finger and Finger Interests, David Anderson and the Anderson Family Fund, Greg Novak and Tracy Druce Third-Place Investment Prize — Invitris, Technical University of Munich.
• $100,000 Houston Angel Network Investment Prize — Hoth Intelligence, University of Pittsburgh.
• $100,000 TiE Houston Angel Group Investment Prize — LIDROTEC, RWTH Aachen University.
• $50,000 RBPC Alumnus, Thomas Healy, Investment Prize — LIDROTEC, RWTH Aachen University.
• $25,000 RBPC Alumnus, Thomas Healy, Investment Prize — Mallard Bay Outdoors, Louisiana State University.
• $10,000 RBPC Alumnus, Thomas Healy, Investment Prize — Bold Move Beverages, University of Texas at Austin.
• $40,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize — Invitris, Technical University of Munich.
• $10,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize — Pareto, Stanford University.
• $25,000 Southwest National Pediatric Device Prizes (two prizes) — Advanced Optronics, Carnegie Mellon University; EpiSLS, University of Michigan.
• $25,000 Urban Capital Network Investment Prize — Woobie, Brigham Young University.
• $25,000 IN2 Energy, Cleantech and Sustainability Prize — EpiFresh, Rice University.
• $25,000 Pearland Economic Development Corporation Spirit of Entrepreneurship Prize — Hoth Intelligence, University of Pittsburgh.
• $25,000 New Climate Ventures Investment Prize — Mantel, Massachusetts Institute of Technology.
• $20,000 OFW Law FDA Regulatory Strategy In-Kind Prize — Advanced Optronics, Carnegie Mellon University.
• $5,000 Eagle Investors Prize — LIDROTEC, RWTH Aachen University.
• $3,000 Nixon Institute Prize — LymphaSense, Johns Hopkins University.
• $3,000 DK Innovation Energy Prize — Mantel, Massachusetts Institute of Technology.
• $1,000 Mercury Elevator Pitch Competition Prize — EpiFresh, Rice University

The seven finalists based on the judges’ overall scores were:

• LIDROTEC, RWTH Aachen University — grand prize and individual prizes worth a total of $682,200.
• Hoth Intelligence, University of Pittsburgh — second place and a total of $386,700 in prizes.
  Hoth Intelligence’s software uses augmented reality to let health care providers see “through” and “into” patients to guide procedures and reduce error.
• Invitris, Technical University of Munich — third place and a total of $97,200 in prizes.
  Invitris leverages synthetic biology to create novel therapeutics to treat antibiotic-resistant bacterial infections.
• LymphaSense, Johns Hopkins University — fourth place and $258,000 in prizes, including the $5,000 Norton Rose Fulbright Fourth-Place Cash Prize.
  LymphaSense’s wearable screening device is revolutionizing the way breast cancer patients are monitored for signs of lymphedema following treatment.
• INIA Biosciences, Boston University — fifth place and the $5,000 EY Fifth-Place Cash Prize.
  INIA Biosciences is developing a noninvasive, home-administered bioelectronic device to provide treatment following a kidney transplant.
• Bold Move Beverages, University of Texas at Austin — sixth place and $15,000 in prizes, including the $5,000 Chevron Technology Ventures Sixth-Place Cash Prize.
  Bold Move Beverages is an early-stage alcohol brand that combines coffee and whiskey to create Cold Brooze in two flavors.
• Anise Health, Harvard University — seventh place and the $7,000 Shell Ventures Seventh-Place Cash Prize and Edward H. Molter Memorial Wildcard Prize from Egan Nelson.
  Anise Health is a digital platform offering culturally adapted mental health care to racial and ethnic minorities, starting with Asian Americans.

All competitors also received:

• Entrepreneur Futures Network (EFN) mentoring: EFN mentors offered pre-competition mentoring and advice to each of the teams on topics such as refining a business plan, refining financial models and improving presentation skills.
• Amazon Web Services: Service credits for each of the 42 startup teams for two years.
• Palo Alto Software: Access to Live Plan presentation and analysis software
• Allianse: 3-month trial to investors and capital platform

For more information about the 2022 Rice Business Plan Competition, visit rbpc.rice.edu.

Owl Have You Know

Omar Matuk-Villazon, M.D., MBA '18 joins host David Droogleever to discuss the direct primary care model, innovation in healthcare and what it looks like to build a medical school from scratch.

Subscribe to Owl Have You Know on Apple Podcasts, Spotify, Youtube or wherever you find your favorite podcasts.

Updated from original post that was published on 04/01/2022.

One of the top questions we get about MBA@Rice is how do you become part of the Rice Business community if you’re taking classes solely online? If you live in or around Houston, you’ve got more opportunities to come to campus. But even if you’re far away, you still have ways to interact, get to know your classmates and professors in person, and meet alumni.

Online MBA students are required to participate in an on-campus immersion experience called The MBA@Rice Residential.* The Residential is a four-day immersion online MBA students attend, where they take elective classes in person and participate in co-curricular programming that includes:

• Kicking off the weekend with a meet-and-greet at the hotel the night before classes start – allowing students to connect before the weekend begins
• Partio
• Formal dinner with some of the deans and faculty
• Informal networking event on Saturday evening
• Information sessions with the Career Development Office, Alumni Relations and Office of Academic Programs and Student Experience
• Key guest speakers such as the university president 

Image

In addition, ask anyone at Rice Business about their favorite activity, and they’ll tell you all about Partio, our student-run party on the patio at McNair Hall most Thursdays. Partios are about connecting with classmates from all the MBA programs, professors, staff and alums. There’s music, food, beer and once a year Rice Around the World Partio goes all out so students can share meals, outfits and dancing from their home country or state.

Other once-a-year favorites for all students include the student-run Women in Leadership Conference (WILC) and Rice Energy Finance Summit (REFS). Both all-day events at Shell Auditorium are packed with speakers, business leaders and students.

Student clubs are also open to online and on-campus students and are meant to help you cultivate your leadership skills, learn more about different professions and get to know each other better. You're more than welcome to join the clubs. Meet-ups are typically held on campus and around Houston, but are occasionally virtual. With more than 30 social, professional, diversity or student government clubs, you should be able to find a perfect fit.

Rice Business Board Fellows is a way for students to gain experience serving on a nonprofit board while giving back to our communities by applying their MBA knowledge, skills and perspectives to pressing challenges in nonprofit organizations. With leadership from enthusiastic and committed online students, we’ve expanded the Board Fellows opportunity by recruiting new nonprofit partners and shaping the service commitment for the MBA@Rice quadmester calendar. With our online MBA community living across the U.S., we hope to expand our reach outside of Houston and have already secured an opportunity in Nashville, Tenn. We’re looking for additional nonprofit partners in cities where our students live and will update students on board service opportunities near them and the application process.

Image

MBA@Rice students are also invited to participate in Rice Business Gives Back, a student service-learning program that allows students, faculty and staff to give back to the local Houston community. Leadership is comprised of student leaders who lead different projects. After completing service projects, all groups congregate for food and drinks to celebrate their morning of service.

We listen to our online students about ways to deepen their connections and have new initiatives in the works: a quarterly happy hour for the online students in different cities with current classmates and alumni is planned, and an online student association spearheaded by a group of enthusiastic and committed student leaders is on track to be official this spring. This student association is designed and structured specifically for online students and lays the foundation for long-term student engagement, advocacy and programming.

The most important thing to remember is that we’re here for you. We want to know how to make this experience the best for you, your career, your family and your future. We will always listen and we value your questions and input. Let us know how we can help.

*Students pay $1,000 for the Rice Residential weekend and this includes hotel, most meals and transportation to and from campus.

Explore Our Rice MBA Programs