November 8, 2001
Aspiring Entrepreneurs Compete for $100,000

Also See MOOT CORP® Site MOOT CORP® Opening Rounds More Entrepreneurship Stories

Austin, TX - On November 15, eight MBA teams from the McCombs School of Business at The University of Texas at Austin will participate in the annual Texas MOOT CORP® Competition. The Competition has become an annual launch for aspiring entrepreneurs who are graduate students at UT Austin. Previous winners that have become successful Austin businesses include Isochron Data Corporation, Ampersand Art Supply, Halsa Pharmaceuticals and Partnerware Technologies.

The eight competing teams are a diverse group and represent exceptional potential for viable ventures:

• Private Concepts will market a self-administered cervical cancer screen developed by Austin gynecologist Dr. Patrick Pevoto.
• SportsTek has a revolutionary new golf grip design that significantly reduces the shock and vibration felt from impact with the ball or the ground.
• Building Blocks Early Development Centers will provide the country’s premier education and development services for children ages six months to five years.
• Amp in a Can is a small, portable, battery operated guitar amplifier which offers a high quality, unique sound and a customizable exterior appearance.
• Amazon Café will provide a coffeehouse setting in Mexico where consumers can place orders with Amazon.com and receive the merchandise at the Café.
• OmniTap will provide a fast, easy, and profitable way for value added resellers to service and sell technology to small business clients.
• Vitriol Consulting helps specialty retail stores realize the benefits of IT through process design, software and hardware resale, inventory tracking and employee training.
• Trial_Logic markets software developed by MD Anderson used by clinical trial researchers to decrease development costs and maximize product revenues for drug development and medical device companies.

Four finalists will be chosen to compete in the final round on December 6. The winner of the Finals will be awarded the $100,000 investment.

“This year, the winning team will receive a $100,000 investment from the MOOT CORP® Pontoon Fund to finance the launch of its venture. As a pontoon bridge is a temporary bridge over a river, this investment is an early stage bridge loan to provide the entrepreneurs time to raise their first major round of venture financing. The opportunity for our winner to receive a $100,000 investment has raised our Competition to another level and solidifies our position as the premier, MBA new venture competition,” said Dr. Gary Cadenhead, MOOT CORP® Director.

The MOOT CORP® Competition now has the most lucrative prize of all the university-based competitions. The Fund provides financing for the entrepreneurs while they are securing first-round funding. To qualify for the $100,000 convertible bridge loan, the team must be committed to launching its venture. The winning team also wins a free year in the Austin Technology Incubator and a spot in the prestigious global MOOT CORP® Competition plus a wealth of industry and venture capital contacts.

The Competition simulates the real-world process of raising venture capital. It is a unique partnership that brings together MBAs and business leaders. The judges function as an investment group seeking to reach consensus on the business venture they would most likely fund. The quality of the idea, the strength of the management team and the clarity and persuasiveness of the written plan and oral presentation all influence the judges’ decisions.

The public is invited to view the Opening Round presentations, which begin at 4 PM on Thursday, November 15 in the McCombs School of Business, GSB 3.130 and GSB 3.106. The finals will be held on December 6 at 4 PM in GSB 3.130.

The Texas MOOT CORP® Competition is hosted by the McCombs School of Business at The University of Texas at Austin. The MOOT CORP® Competition was the first competition of its kind focused on entrepreneurship and is the oldest operating inter-business school new-venture competition in the world. The global MOOT CORP® Competition is recognized as the Super Bowl of world business-plan competitions.

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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.