The Texas Venture Labs Investment Competition (TVLIC) is designed to mimic the real-world process of raising venture capital. Graduate students from the University of Texas present their ideas for new businesses and receive invaluable feedback from entrepreneurs and investors. Many TVLIC competitors go on to launch their businesses. Successful competitors have included uShip, Ordoro and Qcue among others.
The TVLIC Semifinals were held on Friday, April 29, 2016
with the winners in each of the Semifinals divisions competing in the Finals on Friday, May 6, 2016
QuickPlan Solutions Wins 2016 TVLIC
QuickPlan Solutions took home first place from the 2016 Texas Venture Labs Investment Competition (TVLIC) hosted by Jon Brumley Texas Venture Labs (TVL) at The University of Texas at Austin on May 6.
This year marks the 33rd annual TVLIC, with 25 startup companies consisting of graduate students from various disciplines across the UT Austin campus, pitching their business plan in a shark-tank style competition.
QuickPlan Solutions is a software company that has developed a digital mapping software to facilitate construction planning, scheduling, pulling materials on to project sites, and management of assets in order to improve efficiency and productivity. Team members include Matthew Mato, MSTC ’16; Mark McKenzie, MSTC ’16; Saikiran Kolla, MSTC ’16; and Olu Kole-James, MSTC ’16. The team attributed their success thus far with QuickPlan Solutions to the ability to learn fast and not being afraid to fail.
As the first-place team, QuickPlan Solutions received a cash prize of $10,000, the Austin Technology Incubator package, a spot in the TVL Accelerator upon graduation, consulting time with the directors of TVL, and an opportunity to join TVL in New York City to close the Nasdaq Stock Market on June 8.
"QuickPlan Solutions had an excellent business plan and presented it very well,” said Harlan Beverly, assistant director of TVL. "It is always inspiring to see so many great business ideas coming out of the university, and to see the support the Austin investor community consistently provides to Texas Venture Labs in helping accelerate these students’ business plans."
Other winners announced as part of TVLIC include Barkley’s Canine Cuisine in second place receiving $5,000, MedNoxa in third place receiving $2,000, and Kwaddle and Nexus Building Systems in fourth and fifth place receiving $1,000 each. In addition to the top five place awards, TVLIC also gives specialized awards including the Wells Fargo Clean Technology Award, the James D. Pippin Veteran Award and the E. Craig Nemec Elevator Challenge Award.
This year’s recipient of the Wells Fargo Clean Technology Award of $5,000 — previously known as the Wells Fargo Clean Energy Award — is Texas Guadaloop. Texas Guadaloop is a team of over 40 undergraduate and graduate students from disciplines ranging from computer science, electrical and mechanical engineering to business. The team is working with SpaceX to make the Hyperloop a reality by building a full-scale model of the Hyperloop system.
Wells Fargo recently established this award with TVL through a grant to expand the clean technology track at TVLIC by attracting students from various disciplines, such as engineering and architecture that focus on clean-tech solutions. The track includes advancing technologies for the conventional oil and gas sector with emphasis on water reuse and conservation, as well as enhancing the alternative energy space.
“Congratulations to the Texas Guadaloop team for their hard work and dedication to innovation,” said Mark Curry, Wells Fargo area Business Banking Manager in Austin. “We were impressed by their creative solution for one of the world’s most challenging issues, of rethinking the future of transportation. We would also like to thank the university for inspiring the next generation of clean tech innovators that improve the way we live.”
Unmanned Applications received the James D. Pippin Veteran Award of $1,000 given to the most promising startup in TVLIC with one or more veteran co-founders.
The sixth annual E. Craig Nemec Elevator Challenge Award goes to three teams that competed in TVLIC and gave the best elevator pitch for their business in under one minute. This year’s winners include, Kwaddle, MedNoxa and Unmanned Applications. Each team will receive $1,000.
In evaluating the student ventures, judges function as an investment group seeking to reach consensus on the business venture they would most likely fund. The judges’ panel included Isaac Barchas, director of the Austin Technology Incubator; Randall Crowder, MBA ’10, co-founder of TEXO Ventures; Morgan Flager, Silverton Partners; Shelley Hossenlopp, Poca International; and Naruby Schlenker, MBA’10, co-founder and CMO of Ordoro.
Have questions about TVLIC
- Check out the Rules, Awards and FAQ links on the left side of this page.
- Come by TVL Office Hours at One Twenty 5 Café in the AT&T Executive Education and Conference Center at 1900 University Avenue on Wednesdays from 12:30 PM – 1:30 PM.
- Email us at infoVLIC@mccombs.utexas.edu
Seasoned entrepreneurs, investors and community leaders provide valuable mentorship and feedback to students through the New Venture Creation class and the TVLIC startup pitch competitions.
If you are interested in participating, please complete our judging registration form here. Email us at InfoVLIC@mccombs.utexas.edu if you have any questions.
Whether you are an angel investor or institutional investor, we're happy to introduce you to any of our current or former companies. Please feel free to email us directly with questions.
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