1) Creative Film: Patented anti-glare window film that can switch from transparency to opaque instantly for interiors and auto glass
2) Gelomatrix: Hydrogel for tissue engineered therapy and controlled drug delivery aimed at $2.8 billion cartilage repair market
3) Innova Materials: Post-manufacturing spray process, called InnlayTM, embeds active particles into nearly any plastic or rubber, creating durable and functional product surfaces for anti-microbial surfaces, biosensors, and RFID tags.
4) iTherapeutics: Drug in development to prevent blindness by ‘gene silencing’ or ribonucleic acid interference (RNAi)
5) Proteza: Developer of the “SmartSock,” a prosthetic accessory that is worn on the residual limb of a transtibial (below-knee) amputee alleviating discomfort and skin breakdown
6) Sextant IP: Cost-effective patent analysis software package lets users determine “patentability,” “freedom to operate,” and other critical IP issues avoiding extensive legal fees
7) Solixia: Early stage radiopharmaceutial company with patent pending products that allow doctors to target radiation specifically to solid tumors. Products are for treatment of such diseases as ovarian cancer, a $500 million market
Over the years, the Wharton Business Plan Competition, which is open to any University of Pennsylvania student and managed by Wharton Entrepreneurial Programs, has seen many student teams go on to become businesses including PayMyBills.com, buySAFE, Smart Genetics, NetConversions, Stata Labs, DealMaven, Verge Solutions and MicroMRI. Information about past participants is available on the Wharton BPC Web site: http://bpc.wharton.upenn.edu .
The eight finalist teams face off at the Venture Finals with 20-minute presentations made to judges drawn from the business and venture capital community, who will then evaluate the persuasiveness and viability of each business plan. Students will receive $70,000 in cash prizes and in-kind awards including a $20,000 Grand Prize. The finals event – sponsored by MentorTech Ventures – attracts over 200 entrepreneurs, venture capitalists, investment bankers, alumni, faculty and students.
New to the Venture Finals this year is the People’s Choice award taking place during the day-ending reception. During the reception, an audience of hundreds will hear brief elevator pitches from all Finalists while the Venture Finals judges are sequestered. Just before the judges return the audience will get the chance to vote for their own favorite pitch and award that team $3,000.
Venture Finals judges scheduled to select the winning teams represent organizations including Comcast Interactive Capital, Weston Presidio and Schering-Plough Corporation. The judges are:
1. John Clarke, WG’82, Managing General Partner, Cardinal Partners
2. David L. Ferguson, WG’85, Partner, Weston Presidio
3. David A. Piaquad, WG’84, Senior Vice President, Business Development, Schering-Plough Corporation
4. Samuel H. Schwartz, WG’90, Managing Partner, Comcast Interactive Capital
5. Aydin Senkut, WG’96, Founder & President, Felicis Ventures
Note: WG=MBA alum; W=Undergraduate alum
Among this year’s finalists, a few have already achieved important distinctions and milestones. Sextant IP and iTherapeutics are members of the Wharton Venture Initiation Program (VIP) educational incubator. Brian Smith of team Solixia, also a VIP team, won a Philadelphia Business Journal ‘Philly 40 under 40’ Award this year, as a ‘proven performer.’ Team Proteza reached the finals of Penn’s Weiss Tech House PennVention competition while team Gelomatrix is a semi-finalist of the Startup@Singapore Business Plan Competition. Founders of Team Innova Materials were awarded ‘Best Thesis of 2007’ by Penn’s Materials Science Department.
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What about the Semi-Finals?