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Silicon Valley VCs to Select Best New Business Concept
(SAN
FRANCISCO, March 18) — Better breast cancer screening? Curing carpel tunnel?
Using recycled products to make tools for African farmers? Those are just a
sampling of the ideas being presented by 21 student teams from across the globe
competing for top honors and a chance to turn their business plans into
successful ventures at the
University of San Francisco’s eighth annual International Business Plan
Competition (IBPC).
Entrepreneur teams are competing for $25,000
in total prize money, coaching from more than 40 Silicon Valley industry
leaders, and the chance to turn their plans into actual businesses. This
dynamic competition will take place at the Hotel Kabuki in San Francisco’s
Japantown, 1625 Post Street (at Laguna Street) on Thursday and Friday, March
25-26.
“USF’s
International Business Plan Competition provides competing teams with what is
needed most: face time with the key decision makers in the industry--venture
capitalists, angel investors, and professional entrepreneurs,” said Mike Duffy,
dean of the USF School of Business and Professional Studies. Duffy continued,
“This real world approach in judging allows teams the opportunity to receive
coaching, advice, and mentorship from successful industry leaders, and truly
prepares them for the next level of entrepreneurial excellence.”
The main events
of the two-day conference include:
- VC
panel discussion
featuring author, consultant, and venture capital partner Geoffrey Moore
of Mohr Davidow Ventures and TCG Advisors (taking place on Friday, March
26 at 11:30 a.m. in the Imperial Ballroom).
- The elevator pitch competition (on Friday, March 26 at 6:30 p.m.)
where each team is given 90 seconds to present their ideas to the judges
and a packed audience in the Imperial Ballroom of the Hotel Kabuki.
The competition
features 21 graduate student teams from around the world including University
of Washington, UC Berkeley, Rice University, University of Illinois – Chicago,
Carnegie Mellon, Johns Hopkins, Cornell, Georgetown, University of San
Francisco, University of Louisville, Purdue, Illinois Institute of Technology,
University of Arkansas – Fayetteville, University of New Brunswick, San Diego
State University, University of Michigan, and the Indian Institute of
Technology – Chennai, India.
“We were blown
away with the caliber of teams applying to compete in this year’s competition,”
said Brett Bonthron, a partner at TCG Advisors, an adjunct business professor
at USF, and chair of this year’s business plan competition. When outlining the
details of the competition, Bonthron remarked, “From clean tech to medical
devices, these teams have a terrific blend of creativity and smarts. Because
the San Francisco Bay Area is a hub of entrepreneurial spirit and technological
innovation, this is the ideal competition for these student teams who want to
sell their business plans and embark on an entrepreneurial career.”
“USF's IBPC
impressed us on several levels-- the outstanding organization of the event, as
well as the quality and breadth of teams presenting and interacting with each
other,” said Dr. Michael S. Koeris, co-founder of Novophage Therapeutics, Inc.,
winner of the 2009 USF competition. In reminiscing about their 2009 win, Koeris
continued, “For us, the competition was the start of our professional lives as
start-up founders. We met many other likeminded entrepreneurs, with whom we are
still in touch today - goes to show that part of the experience is the process,
not only the competition.”
This year’s
distinguished judges include representatives from following firms: SRI, DeNovo
Ventures, Bay City Capital, Red Planet Capital, WirelessWERX, Crescendo
Ventures, Point Cypress Ventures, TCG Advisors, Seven Hills Partners, Onset
Ventures, Wavepoint Ventures, and many others. Joe Mandato of DeNovo Ventures,
who has participated as a judge for the past four years said, “USF’s business
plan competition reminds us that entrepreneurship is hot and people are
thinking of creative and innovative solutions to big problems.” Mandato went
on, “As a judge, I get the opportunity to see wonderful young talent and
receive a preview of many exciting new ideas and technologies.”
For additional
information about the competition, please contact Anne-Marie Devine at
415.422.2697 (abdevine@usfca.edu), or visit http://www.BusinessPlanCompetition.org
