The Baylor University – Hankamer School of Business and Baugh Center for Entrepreneurship recently held the fifth annual Baylor New Venture Competition, with more than $138,000 in prizes awarded to student finalists.
The New Venture Competition took place at the new Paul L. Foster Campus for Business and Innovation, featuring only twelve finalists from the 146 applications from 83 universities submitted in the preliminary round. In addition to over $138,000 in prizes, thousands of dollars were given in the form of support services from sponsors.
TriFusion Devices, a group from Texas A&M University, were awarded with the first place prize of $50,000 in cash. The team was recognized for their development of an innovative manufacturing technology which could help those suffering from limb loss through 3D printing of prosthetic limbs. In addition to the prize money, TriFusion Devices was provided with access to consulting services, server hosting and workspace.
TriFusion team member Charles Sweeney commented on the experience: “Besides winning first place, we really enjoyed getting to interact with the judges at the competition who had great advice for our business and many words of encouragement.”
Second place at the competititon went to Rhizofeed, LLC, from the University of Pikeville, a group which replaces antibiotics in the poultry industry with their all-natural and patent-protected Algulin product. In addition to other prizes, the team was awarded with $25,000 in cash.
Other awards included the third place prize of $10,000, which was given to VasoCorp from the University of West Georgia, and the Dell Award of $12,500, awarded to Parking Grid Technologies from Auburn University. A team member from VasoCorp, which is working to commercialize a supplement designed to treat the causes of neuropathy, commented on what makes the New Venture Competition unique: “… I can confidently say we would not have made it without making the changes the judges requested,” said VasoCorp team member William Cross. “I met real investors, and you don’t see that at many competitions.”