AUSTIN, Texas—Rob Adams, director of the Venture Lab Investment Competition at The University of Texas at Austin, and the winners of the 2010 Venture Lab Investment Competition will close the NASDAQ Stock Market on Friday, June 11.
Adams will do the honors along with the BiologicsMD team from the University of Arkansas. BiologicsMD won a $135,000 prize package after being named the Venture Lab Investment Competition Global Champion on May 8, 2010.
BiologicsMD holds the exclusive worldwide license to a new prescription osteoporosis solution, OsteoFlorTM, a unique patent-pending compound that binds to bone and stimulates new bone growth. Team members are Robyn Goforth, Paul Mlakar, Jr., Misty Stevens and Michael Thomas. See http://www.biologicsmd.com/ for more information.
“The national exposure of opening the NASDAQ Stock Market further enhances the reputation of the winner and adds tremendously to the excitement of being named the Global Champion,” said Adams.
This year, 39 teams from universities around the world competed. The teams represented colleges from the leading MBA programs in 12 countries with seven universities fielding two teams.
This “Super Bowl of world business plan competition” is a highly competitive competition and a rich environment of people, cultures and interesting businesses,” said Adams.
The Venture Lab Investment Competition simulates the process of entrepreneurs soliciting startup funding. More than 100 venture capitalists, entrepreneurs, attorneys, CEOs and accountants judged the teams over the three day competition. About half of each year’s teams go on to launch their ventures.
To view the ceremony on the NASDAQ Market Open Web Cam: (all times are EDT), go to http://www.nasdaq.com/about/marketsitetowervideo.asx at 3:50 p.m. to view the ceremony. The ceremony is live, not archived, so it is important to watch in real time.
Adams also announced that 2006 Texas Venture Lab Investment Competition winners Daniel Nelson and Robert Reeves made a substantial pledge to the McCombs School of Business at The University of Texas at Austin. Nelson and Reeves cofounded Phurnace Software while they were students. BMC Software, a Houston-based firm, purchased Phurnace Software in January 2010.
Venture Labs Investment Competition (www.mootcorp.org)
Venture Labs Investment Competition – The Super Bowl of Investment Competition (formerly Moot Corp) is the premier world-wide investment competition hosted annually at The University of Texas at Austin. Begun at the University of Texas at Austin by MBA students in 1984, the competition is the oldest new venture competition in the world, providing graduate student teams with a chance to simulate the real world process of raising venture capital. Visit www.mootcorp.org for more information, including a list of world-wide ventures that have launched out of the contest.