University student teams from around the world convened in Austin the first week of May for the 28th annual Global Venture Labs Investment Competition hosted by the McCombs School of Business at The University of Texas at Austin. The Global Venture Labs Investment Competition (formerly Moot Corp) is considered the pioneer of business plan competitions.
The competition attracts students from universities around the world including Australia, Brazil, Canada, China, Colombia, France, Germany, Great Britain, Mexico, Norway, Sweden and Thailand. Thirty-eight teams from 12 countries competed this year. The ventures presented included medical devices, clean technology, information technology and social entrepreneurship. Teams presented at least three times in front of a different panel of judges with more than 100 entrepreneurs, venture capitalists, angel investors and business leaders serving as judges.
The Global VLIC Competition is the cornerstone of Venture Week, a new tradition started at McCombs in 2010. Venture Week includes events where students, entrepreneurs, the business community and investors can learn more about entrepreneurial activity at UT at Austin and college campuses around the world.
At the Venture Expo on May 4, the public heard from start-ups currently working with Texas Venture Labs, the Austin Technology Incubator and UT’s Office of Technology Commercialization covering deals in the process of being prepared for commercialization as well as opportunities ready to fund.
On May 5, two educational tracks ran concurrently in the afternoon. The Entrepreneur Success Stories Track offered highly applicable information, expertise and wisdom to a crowd of entrepreneurial minded students to help them improve their future business ventures. The Global Business Education Track delivered insights and novel ideas concerning business plan competitions and entrepreneurship education programs and provided a discussion forum for the latest trends and strategies