May 10, 2006
Carnegie Mellon Team Takes $100,000 Prize at 2006 Global MOOT CORP®

AUSTIN, Texas—A non-invasive diagnostic device claimed the top prize at the 23rd annual Global MOOT CORP® Competition at The University of Texas at Austin May 5-6.

NeuroLife Noninvasive Solutions, created by a team of MBA students from Carnegie Mellon University, beat out a wide range of business ideas that included a martial arts TV channel, an environmentally friendly rat-control device and a cattle inventory system, along with other medical products in the areas of multiple sclerosis, viral infections and skin cancer.

NeuroLife will attempt to commercialize the world's first noninvasive intracranial pressure (ICP) diagnostic device, designed to be a faster, safer and easier way to measure ICP through the patient's eye.
 

NeuroLife of Carnegie Mellon won the 2006 Global MOOT CORP®. Team members include Adil Wali, Ernest Braxton and Franco Harris with Tom Emerson as the faculty adviser.

The prize package worth $100,000 is composed of $25,000 in cash and $75,000 in business services, including consulting from the McCombs School of Business entrepreneurship faculty and patent work from Ropes & Gray. The Carnegie Mellon team will also open the NASDAQ Stock Market Aug. 11.

This year, 33 teams from Argentina, Australia, Brazil, Canada, China, France, Germany, Great Britain, Mexico, Norway, Thailand and the United States gathered in Austin.

Strong Data Corp. from Columbia University was selected as first runner-up, and will receive $5,000 in cash. Strong Data presented its plan to develop portable, secure identification technology (next-generation credit cards) for financial institutions and other markets. The company was founded by Ian Sigalow and Kent McNellie with faculty adviser Mathew Rhodes-Kropf.

AquaSiam from Mahidol University was second runner-up. AquaSiam plans to solve the problem of untreated industrial wastewater, initially in the pulp and paper industry. NudlemanTM from Bond University in Australia was named third runner-up. Nudleman offers high-quality, fast-served, Asian-styled meals, based on a central theme of noodles.

Started by MBA students at The University of Texas at Austin in 1984, the MOOT CORP® Competition is the oldest new venture competition in the world, and continues to provide MBA student teams with a chance to simulate the business world process of raising venture capital.."

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