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 the 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 the 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. Read more...
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.