FOR IMMEDIATE RELEASE
March 8, 2010
PARK, Md.—The Maryland Technology Enterprise Institute (Mtech) today announces 18 semifinalists for the 2010 University of Maryland $75K Business Plan Competition.
Now in its tenth year, the competition is administered by Mtech, an initiative of the A. James Clark School of Engineering. Previous winners include five multi-million dollar ventures; two were named to the Inc. 500 list of the fastest growing companies in the U.S. in 2009 by Inc. Magazine.
Semifinalists were selected among 40 entries in the categories of biotechnology, high technology, and undergraduate students. Entries, submitted as executive summaries, were judged based upon their value proposition, competitive advantage, target market, profit model, intellectual property, and clarity.
Semifinalists for the 2010 University of Maryland $75K Business Plan Competition include:
- 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.
- ProlifiTEC is developing a prolific, cost-effective bioreactor to engineer or grow bone and cartilage tissue for various medical implants. Team: Jonathan Mayer, MBA student, Robert H. Smith School of Business; John Fisher, associate professor, Fischell Department of Bioengineering.
- 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
- Degree Energy Services is developing a system to manage energy use in large commercial buildings to balance the electrical grid minute-to-minute by adjusting demand. Team: Max Epstein, graduate student, School of Public Policy; John Silberholz, undergraduate student, departments of mathematics and computer science; Dylan Rebois, undergraduate student, department of mechanical engineering; Erik Li, undergraduate student, department of biological resources engineering; Nancy Zhen, undergraduate student, departments of finance and computer science.
- Flexion 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.
- Modisco Inc. is developing a platform for communication between small and medium enterprises and their consumer bases. Team: Akhil Singh, MBA student, Robert H. Smith School of Business; Ashok Agrawala, professor, department of computer science.
- 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.
- Roboseed LLC is developing a low-cost, reliable, micro‐scale aerial vehicle for commercial and military applications. Team: Evan Ulrich, graduate student, department of aerospace engineering; Christopher Rajashekar, MBA student, Robert H. Smith School of Business; Christopher Magnan, MBA student, Robert H. Smith School of Business; Aswani Valiveti, MBA student, Robert H. Smith School of Business; Jesse Reich, UM alumnus; Darryll Pines, dean, A. James Clark School of Engineering.
- 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.
- VisiSonics has developed a platform for the creation, management and processing of real-time 3-D audio and visual content. Team: Adam O'Donovan, graduate student, department of computer science; Ramani Duraiswami, associate professor, department of computer science.
- weBike offers a fast, convenient and reliable way to share and access bikes using mobile and Web technologies, as well as social initiatives, to foster a culture of biking. Team: Allie Armitage, staff, Robert H. Smith School of Business; Brad Eisenberg, student, A. James Clark School of Engineering; Yasha Portnoy, undergraduate student, department of computer science.
- 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.
- Location Aware Integration Solutions aims to provide the hospitality industry with point-of-sale and location aware solutions, making it possible for consumers to use their mobile phones to interact with local businesses to browse company products, view promotions, and make purchases. Team: Rohan Oswal, undergraduate student; Omar Sardar.
- 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.
- Peer Advantage Tutors is developing personalized, online tutoring services for students who want to make a connection with tutors at an affordable price. Team: Benjamin Kubic, undergraduate student, Robert H. Smith School of Business.
- TutorialHub is an online marketplace for instructional videos that aims to lower publishers’ barrier to entry, improve profit margins, and streamline the process for buying and selling instructional videos. Team: Venkat Dinavahi, undergraduate student, department of computer science; Shaan Bhagat.
The tenth annual 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.
Sponsors of the 2010 competition are Nixon Peabody LLP and Fish & Richardson P.C.
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.