QuickPlan Solutions Wins 2016 TVLIC
May 6, 2016
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, 2016.
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.
TVL Awarded MBA Innovator Award
October 23, 2015
The University of Texas at Austin’s Jon Brumley Texas Ventures Labs (TVL) in the McCombs School of Business has been named the 2015 MBA Roundtable Innovator Award recipient. The award was announced at the annual MBA Roundtable Curricular Innovation Symposium at the Olin Business School at the University of Washington on October 23, 2015. Read more.
TVL Accelerator Space in Rowling Hall to be Named in Honor of Brumleys
December 11, 2014
In early November, Jon Brumley contributed $1.95 million to the endowment for the Jon Brumley Texas Venture Labs (TVL) startup accelerator. This funding comes just two years after Brumley gave $6 million to create the endowment. With this gift, the accelerator space in Robert B. Rowling Hall, the future home for McCombs School of Business graduate programs, will be named the Jon and Rebecca Brumley Business Accelerator in honor of Brumley and his wife. Read the full article in McCombs Today.
Co-Founders of RideScout Create Veteran Entrepreneurship Award
November 12, 2014
The co-founders of RideScout announced The RideScout Student Veteran Entrepreneurship Endowment, a fund seeded by the September 2014 sale of their company to car2go. Funds generated by the $70,000 endowment provide a prize for student veterans who compete in the Texas Venture Labs Investment Competition. Read RideScout's press release here.
2014 Global VLIC Champion - Innoblative Designs
- Closes the NASDAQ
June 13, 2014
Innoblative Designs - winner of the Global Venture Labs Investment Competition at the University of Texas at Austin - rang the closing bell at the NASDAQ OMX. Innoblative Designs, a medical device startup from Northwestern University, is commercializing technology intended to improve the treatment of early stage breast cancer.
Watch a video clip of the ceremony here.
Wells Fargo Announces Three-Year, $450,000 Grant to Support Clean Energy Entrepreneurship
March 26, 2013
As part of its national environmental grant program, Wells Fargo today announced that it has provided a three-year grant totaling $450,000 to the McCombs School of Business at The University of Texas at Austin that will allow Jon Brumley Texas Venture Labs (TVL) to further develop the Clean Energy track started last year with an initial grant from Wells Fargo. Read more...
Jon Brumley provides $6 Million Gift to Expand Texas Venture Labs
May 3, 2012
The Texas Venture Labs at the McCombs School of Business is now Jon Brumley Texas Venture Labs. The name change is in recognition of a combined gift of more than $6 million from Fort Worth businessman and entrepreneur Jon Brumley to fund the growth of the program at The University of Texas at Austin.
“This investment is a game changer that enables us to expand the scale and accessibility of the Texas Venture Labs model," said McCombs Dean Thomas Gilligan. "It’s a vote of confidence as well, because of the reputation of Jon Brumley as an entrepreneur, a business builder, and a distinguished graduate of McCombs and the Wharton School of Business.”
Brumley, 73, received a business degree from UT in 1961, and has founded six oil and gas companies, all of which have been listed on the New York Stock Exchange. In 2005, Forbes magazine named Brumley, and son Jonny, its Entrepreneurs of the Year. “Texas Venture Labs is a gem in the Texas entrepreneurial ecosystem. It provides critical, hands-on experience for aspiringentrepreneurs who learn as students the effort required to get a new venture through the financing process,” said Brumley. “For me, this gift is an opportunity to build our capacity to grow the economy of Texas, while giving a leg up to young entrepreneurs, who remind me a lot of myself at that age.”
Wells Fargo Provides Grant to University of Texas for Clean Energy Business Ventures
Dec. 5, 2011 — As part of its national environmental grant program, Wells Fargo today announced that it has provided a $125,000 grant to the McCombs School of Business at The University of Texas at Austin that will fund a new Clean Energy track within the 2012 Global Venture Labs Investment Competition (GVLIC).
Graduate students from universities around the globe come to The University of Texas at Austin each May to present their business plans at The Global Venture Labs Investment Competition. From among myriad offerings, panels of investors select the best new-venture opportunity. With aspiring entrepreneurs soliciting start-up funds from experienced investors, the competition simulates the real-world process of raising venture capital.
Competing for the new Clean Energy Prize sponsored by Wells Fargo (along with the overall Global Championship) at the GVLIC will be start-ups focused on improving energy efficiency, innovating energy delivery and offering energy from alternative fuels, for both residential and commercial energy sectors. Read the complete story.
Accenture Awards University of Texas at Austin $600,000
October 27, 2011
Accenture (NYSE: ACN) and the University of Texas at Austin announced today that Accenture has awarded the University’s Texas Venture Labs (TVL) a $600,000 grant to help provide graduate students the skills they need to launch a business. TVL is an interdisciplinary education and research initiative designed to give students real-world experience in starting and sustaining new ventures. The award, Accenture Venture Partners program, reflects the company’s global corporate citizenship initiative, Skills to Succeed, which will equip
250,000 people around the world by 2015 with the skills to obtain a job or build a business. The three-year grant will provide support for 10 “Accenture Venture Partners,” who are recent TVL graduate school alumni. They will spend one year mentoring TVL student entrepreneurs, while working with the start-up community to identify new business opportunities. Since its inception in September 2010, 63 students have participated in the TVL program. The Accenture funding is expected to help the program expand its enrollment to 100 students. “Innovation is a critical component to creating and running a high performance business,” said Steve Rohleder, group chief executive of Accenture’s Health & Public Service.
TNG Pharmaceuticals Wins 2011 Global Venture Labs Investment Competition
TNG Pharmaceuticals, a team from the University of Louisville that developed a vaccine to prevent negative effects to cattle from the horn fly, won the 2011 Global Venture Labs Investment Competition (Global VLIC). As global champion, TNG Pharmaceuticals received a prize package worth $135,000 and the opportunity to close the NASDAQ OMX Stock Market on June 3 . TNG was also recognized for having the outstanding written business plan and presentation in its opening round division. Read more about the winner.
Thirty-eight teams from 12 countries competed this year. Read about all the 2011 teams. For information on where some of the previous competitors are today, click here.
Moot Corp Hall of Honor Awards Presented to Three Entrepreneurship Innovators
On May 7, 2011, the first Moot Corp Hall of Honor awards were presented to three individuals for their roles in the growth and development of the Moot Corp Competition, the first business plan competition. Now in its 28th year, it is the premier global new venture competition today.
The honorees were Gary Cadenhead, Director of the Master of Science in Technology Commercialization Program at the University of Texas at Austin; Fred Kiesner, Professor of Management and Entrepreneurship at Loyola Marymount University, and Charles Hofer, Regents Professor of Strategy and Entrepreneurship at Kennesaw State University. Read the complete story.
Cattle Vaccine, Chip Verification Software Take Top Prizes At 2011 Moot Corp. Competition
TNG Pharmaceuticals, developers of a vaccine to keep cattle free of blood-sucking horn flies, took top prize at the “Moot Corp.” business competition this weekend.
Formally renamed the Venture Labs Investment Competition(VLIC) in 2010, but still widely referred to as “Moot Corp.,” the annual event began in 1984 at the McCombs School of Business at the University of Texas, Austin. At Moot, TNG Pharmaceuticals won a prize package including: $25,000 in cash; a range of free and discounted consulting and business services, and a full-page ad in Inc. magazine. The total value of the prize package, according to a McCombs spokesman is around $135,000. Read the Tech Crunch story.
'Super Bowl' of investing ensues in Austin
If you want to remember why you got into business, then spend some time at the Global Venture Labs Investment Competition.
The University of Texas Student Business Competition — so-called Super Bowl of Investment Competition and formerly known as Moot Corp — is full of bright minds, energetic pitches and investment-ready ideas. The global competition represents the top winners of business competitions around the world. Read the complete Austin Business Journal story.
Writing a Business Plan? Better Talk to This Guy First
The Texas Venture Labs Investment Competition is one of the nation's best. Rob Adams, the competition's director and a member of our Board of Directors, shares lessons learned from this year's installment -- and a career spent catching companies on the rise. Read the AOL Small Business story.