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$50K Business Plan Competition Finalists Announced
The six finalists, chosen among 16 semifinalists and 58 initial entries, include:
Faculty & Graduate Student Category (Winner will Receive the Maryland Department of Business and Economic Development Award)
Advanced Magneto-Optical Systems will provide technology compatible with current optical scanners that will enable the use of two-dimensional hidden magnetic barcodes and other authenticity marks to enhance the security of critical identity products such as credit cards, checks, banknotes, drivers' licenses, medication packages and other manufactured components.
Metatropi has developed a patent-pending metabolomics technology that enables highly accurate and simultaneous measurement of hundreds of metabolites (e.g. glucose, amino acids) in biological systems, for uses such as early disease diagnosis, personalized nutrition and medicine, functional genomics, and safe use of genetically modified food.
Undergraduate Student Category
I-Receipts is planning a service that eliminates paper receipts for consumers and businesses by providing instant database and Internet access to purchase information.
ORBSolution.com (Online Realty Business Solutions) aims to be the first nationwide listing database for real estate agents, offering easy-to-use agent web hosting, a “Real Estate in a box” package for companies, and a national property database.
Young Alumni Category
Affiliate Classroom provides an online training facility for web-based affiliate marketing, a risk-free form of advertising through which an online merchant rewards an affiliate site for every visitor, subscriber, and/or customer referred to the merchant—much like a finder’s fee.
Vfore is developing a content-based image organizer and search engine capable of finding images based on their content--the objects or people in the images--first as a desktop-based image organizer, and then as an Internet-based search engine.
The competition finals, which will include investor presentations by finalists to a distiguished panel of judges, will be held on April 7, from 12 noon to 3:00 p.m., in room 1110 of the Jeong H. Kim Engineering Building.
Judges for the event include: Henry Ahn, Program Manager, Technology Funding Programs, Maryland Technology Development Corporation; Elizabeth Good Mazhari, Managing Director, Maryland Venture Fund; Rich Harris, Managing Director, SpaceVest; Karl Renner, Principal, Fish & Richardson P.C.; and Steve McVearry, Member of the Business and Finance Section, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.
The UM $50K Business Plan Competition is sponsored by the Maryland Department of Business and Economic Development, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, and Fish & Richardson P.C.
The competition, now in its sixth year, has historically awarded a total of $285,000 in prizes to faculty, students and alumni with the best plans for innovative ventures. Previous winners have generated millions in revenues, grants and awards.
MTECH Ventures provides entrepreneurship education to technology creators and delivers a portfolio of services and resources to bridge the gap between technical ideas and viable ventures.
April 4, 2006