Mtech Press Releases

FOR IMMEDIATE RELEASE
April 6, 2010

Mtech Announces Finalists for the University of Maryland $75K Business Plan Competition

COLLEGE PARK, Md.—Mtech today announces nine finalists for the 2010 University of Maryland $75K Business Plan Competition.

The finalists, who competed among 18 semifinalists, were selected (three each) in the categories of high technology, biotechnology, and undergraduate students. Finalist entries, submitted as business plans, were reviewed by 14 independent judges based upon their value proposition, competitive advantage, target market, profit model, intellectual property, and clarity.

Finals will be held May 7, from 11 a.m. – 1 p.m., at the Kim Engineering Building as part of the University of Maryland Business Competitions Day. Finalists will present their technologies and ideas to the public and a panel of expert judges. An awards ceremony will immediately follow presentations.

Finalists for the 2010 University of Maryland $75K Business Plan Competition include:

Biotechnology Category

• Aeramatics is developing InSpiro, a spirometer (measures the volume of air inspired and expired by the lungs) that reduces post-operative complications by reminding patients to use it, tracking usage, and setting targets. Team: Eranga Fernando, undergraduate, department of criminology and criminal justice; Himali Fernando, 2009 alumnus, Fischell Department of Bioengineering.
• CloudSolar plans to manufacture affordable systems for capturing solar thermal energy and converting it into electricity. Team: Michael Armani, Ph.D. student, Fischell Department of Bioengineering; Ramik Chopra, UM alumnus, department of electrical and computer engineering and current UM MBA student; Danny Lee, UM alumnus, 1989.
• Red Gill Aquaculture intends to build and manage intensive, large-scale industrial fish production in China using tanks situated in strategic inland cities. Team: Brian Childs, MBA student, Robert H. Smith School of Business; Carter McJunkin, MBA student, Robert H. Smith School of Business.

High Technology Category

• Omnispeech LLC has developed a speech extraction technology for voice communications. Team: Carol Espy-Wilson, professor, department of electrical and computer engineering; Tarun Pruthi, research associate, department of electrical and computer engineering.
• PoLiion Energy is developing a patent-pending polymer electrolyte that allows for the creation of lighter, safer and flexible batteries. Team: Ayan Ghosh, Ph.D. student, department of chemical and biomolecular engineering; Aaron Fisher, Ph.D. student, department of chemical and biomolecular engineering; Peter Kofinas, Professor, Fischell Department of Bioengineering.
• Video Semantics has developed a proprietary video search solution that retrieves only the relevant segments of videos that match the semantic meaning of a user's query. Team: Wael Abd-Almageed, assistant research scientist, University of Maryland Institute for Advanced Computer Studies; Mohamed Hefeeda.

Undergraduate Category

• DoseSpot has developed an easy to use and easy to integrate Web-based medication prescribing system that connects medical technology vendors to the SureScripts electronic prescribing network. Team: Greg Waldstreicher, undergraduate student, department of accounting & information assurance; Gideon Platt.
• Escrow Trading Company is an international business-to-business trade service connecting American buyers with a trusted network of Chinese manufacturers. Team: Daniel Horowitz, undergraduate student, Robert H. Smith School of Business; Sam Winter, undergraduate student, department of civil & environmental engineering; Brian Peisach, undergraduate student, departments of accounting & information assurance and marketing; Alex Sposito, department of materials science engineering.
• MotivAGE is a mobile gaming application that will provide obese and overweight children with an interactive, fun, and rewarding weight loss and fitness experience that will promote goal-setting, teamwork, and visual results. Team: D'Angelo Perrier, undergraduate student, department of business information systems; Myeshia Workeman, department of finance; Wenting Jian, department of accounting and information assurance.

Judges who selected finalists include: Henry Ahn, Program Manager, Technology Funding Programs, Maryland Technology Development Corporation; Bill Bellows, serial entrepreneur and entrepreneurship instructor; Warren Citrin, Co-founder and Board Member, Gloto Corporation and Co-founder, Solipsys Corporation; Rob Cohen, formerly from Immersion Corporation; Christine Copple, President and CEO, Starise Ventures; Robb Doub, General Partner, New Markets Venture Partners; Craig Dye, Director of Venture Investments, Dingman Center for Entrepreneurship; Michael Gutch, Member, Life Sciences Team, H.I.G. Ventures; Joe Hernandez, CEO, Principio and Chairman, Prolias; Kiran Hebbar, Partner, Valhalla Partners; David Kirsch, Associate Professor of Management and Entrepreneurship in the Management & Organization Department at the University of Maryland Robert H. Smith School of Business; Brian Lipford, Partner, Key Technologies, Inc. and VP Strategic Development, Key Technologies; Karen Miller, Manager, BioEntrepreneur Resources Program, Maryland Biotechnology Center; and Charles Montague, Manager, Biotechnology Development Programs, Maryland Biotechnology Center.

Sponsors of the 2010 competition are Nixon Peabody LLP and Fish & Richardson P.C.

Now in its tenth year, the competition is administered by the Maryland Technology Enterprise Institute (Mtech), an initiative of the A. James Clark School of Engineering. Previous winners include five multi-million dollar ventures; Inc. Magazine named two to the Inc. 500 list of the fastest growing companies in the U.S. in 2009.

The University of Maryland $75K Business Plan Competition promotes the commercialization of innovative ideas and university-created technologies by offering faculty and students prizes for the best new venture plans. The competition emphasizes learning through coaching and the experience of presenting ideas to an expert panel of judges.

For more information about the University of Maryland $75K Business Plan Competition, visit www.bpc.umd.edu.

About the Maryland Technology Enterprise Institute (Mtech) (www.mtech.umd.edu) 

The mission of the Maryland Technology Enterprise Institute (Mtech) is tri-fold: educate the next generation of technology entrepreneurs; help entrepreneurs create successful technology-based ventures; and connect Maryland companies with university resources to help them succeed. Founded in 1983, Mtech has had a $19.6 billion cumulative impact on the Maryland economy through its programs. Mtech is a unit of the A. James Clark School of Engineering at the University of Maryland.

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