October 20, 2003
University Students from U.S. and U.K. to Unveil Research and
Technology Discoveries for Commercialization
University of Texas at Austin Hosts Inaugural Idea to Product™ Competition and Showcase
|
|||||||
- What: Idea to ProductTM University Technology Competition & Showcase
- When: November 8, 2003
- Where: Avaya Auditorium in ACES 2.302 (201 East 24th Street), University of Texas at Austin
- Prize: $10,000 - first place, $5000 - second place
- Who can attend: The public and reporters are invited to attend both events. Reporters, please contact Lee Higgins of the Peters Group, 512-794-8600, Lee@petersgroupPR.com to attend.
- For more information: Visit Idea2Product Website.
AUSTIN, Texas – October 20, 2003 -- University students worldwide are researching and developing some of the most innovative, yet untapped technologies. In a forum for engineering, business and law students worldwide to unveil their discoveries to potential investors and businesses, The University of Texas at Austin will host the inaugural Idea to ProductTM (I2PTM) 2003 International Event on Nov. 8. The pioneering event features university-sponsored and student-developed research presented by student teams from premier research universities throughout the United States and United Kingdom.
Competitors for 2003 will unveil six technologies for emerging markets:
- Georgia Institute of Technology and Emory School of Law - Revolutionary computer interface and software that assists the visually impaired through colors, sounds, and stimuli.
- Imperial College London - Inhalit, a lifesaving asthma-monitoring device designed to provide reassurance in the palm of your hand.
- Penn State University - Sol-AidTM, a simple-to-use electronic device that monitors accumulated ultra-violet (UV) rays to let users know when they have been in the sun too long -- targets estimated 42 million Americans who will develop skin cancer in their lives.
- Purdue University - Judicial Database Systems (JDS), custom designed software for county probation departments alleviating resources spent by country governments.
- Stanford University - Project from Stanford Digital Vision program allowing Kenyans living abroad to easily negotiate and purchase health care plans for their families at home.
- The University of Texas at Austin - Advanced Laser Composites (ALC) technology to rapidly and economically manufacture reaction-bonded silicon carbide parts – targets the $375 million U.S. metal casting industry (ALC is a manufacturer for the industry).
The first-place team in the competition will receive $10,000, second-place $5,000, and third place $2,000 from funds provided by prize co-sponsors at the University of Texas, The College of Engineering, the McCombs School of Business, and the IC2 Institute.
The international event was conceived by Dr. Steve Nichols, associate vice president for research at The University of Texas at Austin, and John Doggett, senior lecturer in entrepreneurship at the University of Texas McCombs School of Business, to enhance cross-disciplinary studies in entrepreneurship, research, technology-based product development and emerging markets.
“Universities have previously leveraged business plan competitions to tap new business ideas,” said Nichols. “The I2P has a unique focus on how to showcase and advance the technology emerging from engineering, sciences, pharmacy business and law school students. I2P was developed to encourage technology innovation, creativity, leadership and entrepreneurship in all disciplines.”
Presentations from the university teams will represent an array of products and areas of research expertise, including rapid prototyping and manufacturing, computer accessibility software, health care applications, intellectual property law and solutions for e-government.
“While there are strong programmatic efforts to help individual students succeed, this forum is devoted to the development of ideas through collaboration among the different disciplines – a key element to entrepreneurial success,” said Doggett. “Our mandate is to encourage education in technology commercialization, or the movement of new discoveries from the university to the commercial sector tied to market needs. I2P events provide another opportunity to invigorate the economy and re-kindle business growth in Austin.”
Idea to Product complements the successful MOOT CORP® competition at the University of Texas, the world’s original and largest student business plan competition, started by Texas MBAs in 1984. In the same tradition, University of Texas students Eric Shieck, Amit Garg and Richard Heller created a campus-wide Idea to Product competition in 2001, with help from Nichols, to further technology development and commercialization activities for students. As it expands to include other universities, Idea to Product remains one of many University of Texas entrepreneurial activities to encourage faculty, students and business leaders to promote innovations and work together to move research ideas into prototypes and products.
Goals of the I2P International:
- Increase the exposure of engineering and science students to entrepreneurship
- Provide a forum of communication and networking for all student entrepreneurs
- Educate technology students on what it takes to start a company
- Serve as a conduit to the business and venture community
About I2P
Idea to Product™ (I2P™) International is jointly hosted by
the Murchison Chair of Free Enterprise, the McCombs School of
Business, the College of Engineering, and the IC2 Institute at
The University of Texas at Austin. I2P teams are comprised of
students from engineering, business, pharmacy, liberal arts,
science and law schools who work together to identify technology
innovations within university communities and to create and
present commercialization plans for these potential new
products. Participants are eligible for awards for further
product development and invitations to participate in business
plan events like The University of Texas Moot Corp Competition
in May 2004.
The public in invited to attend the competition at 8:00 a.m. –
11:30 a.m. Located in the Avaya Auditorium – ACES 2.302 (201
East 24th Street on UT Campus). The public is also invited (on a
space available basis) to the Idea to Product showcase and
awards banquet on Nov. 8th from 11:30 a.m. – 2:00 p.m.
Registration for the lunch event is $35 for the public and will
be held at The University Club, 7th Floor in Royal Memorial
Stadium. To register for the event, please visit
http://www.ideatoproduct.org and select the event
registration link.
For companies and universities interested in learning more about future opportunities to support the Idea to Product event contact Loren Kirkpatrick at lk@ideatoproduct.org.
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
