Innovative business ideas embracing cutting-edge technologies had been paraded at the Hong Kong University of Science and Technology from April 17 - 19. University of Manitoba took home the champion trophy.
The first runner-up was University of Oregon. The finalists were Hong Kong University of Science & Technology and IMD. University of Manitoba got the Elevator Pitch Competition Championship.
Organized by the HKUST Business School, "The HKUST International Business Plan Competition", is one the world's leading graduate student entrepreneurial events. During the competition, graduate student entrepreneurs from top universities from around the world pitch their business plans to leading Hong Kong executives and professional investors.
The innovative business propositions range from a new technology to eliminate toxic carbon monoxide in cigarette smoke, reduce the effect of harmful radiation and new equipment to collect body information and analyze. Eleven teams of graduate student entrepreneurs will compete for US $25,000 in cash prizes and potential investment interest from among the judges.
The teams arrive on Thursday 17 April, and will display their products and briefly pitch their business plans on Friday 18 April. The finals challenge held on Saturday 19 April.
Please see the attached for a complete list of teams and summaries of their business ideas.
HKUST 2008 International Business Plan Competition Competing Teams
Team Name: Advotech Medical Sciences
University Affiliation: University of Manitoba (Canada)
Summary: Advotech is an orthopaedic device intermediary focusing on bridging the gap between concept and commercialization in the $2.6 Billion dollar trauma fixation market. Advotech has already lined up lead customers for its first two products, and the team has personally raised $1.25 million dollars to begin operations.
Team Name: GPS Sprint
University Affiliation: Yonsei University (Korea)
Summary: GPS SRINT is expected to introduce a product which will revolutionize the way of our lives. By implanting a patented Global Satellite Positioning System ("GPS") receiver and transmitter into a patent protected position in the shoe, nominated third party may locate the location of the wearer of the shoe product.
Team Name: Monoxidize
University Affiliation: HKUST (China)
Summary: We intend to manufacture and sell our patented breakthrough nano-scale catalyst technology which aids cigarette manufacturers in meeting increasingly strict government regulations by effectively eliminating toxic Carbon Monoxide (CO) in cigarette smoke.
Team Name: Park on the Fly
University Affiliation: University of Florida (US)
Summary: Park on the Fly is a phone and internet based parking meter that enables consumers to park without being towed, park by distance, reserve spaces, and provides an increased supply. The system is in beta and has several contracts in place. We will serve universities, municipalities, parking garages, and lots.
Team Name: PhotonWave Technologies
University Affiliation: Indian School of Business, Hyderabad (India)
Summary: PhotonWave Technologies presents a path breaking, patented product innovation that will revolutionize fiber-optic communications worldwide. Our disruptive technology, based on 'Silicon Photonics & Nanotechnology' will provide high performance optical interconnect solutions (1-40 Gbps) to the FTTx/last-mile and high-performance computing markets at a fraction of the current infrastructure costs.
Team Name: Poken
University Affiliation: IMD (Switzerland)
Summary: Poken is a fashion accessory that improves the reach of social networking by giving consumers the flexibility of connecting with their friends anywhere, anytime. Integrating our proprietary wireless module, Pokens are used along with our web widgets to provide users with new Real-World networking functionality, on any social networking website.
Team Name: Radiless
University Affiliation: Tsinghua University (China)
Summary: RADILESS produces system cabinets (motherboard boxes) of computer with nanofirber technology to reduce the effect of harmful radiation dramatically. The non-existence of major competitors or similar technology (in mainland China) shows promising future. The company's ultimate goal is to set the national standard of anti-radiation under its framework. RADILESS will be launched in 2 years.
Team Name: R-Value
University Affiliation: International University of Japan (Japan)
Summary: R-value is a private company which organizes educational/training courses for students in Japan and in other potential markets including China. Our latest program is "The Real-Life Experiencing Trip" which focuses on the demand for Natural Environment Experience, Local Community Communication and Real Value Creation of the Japanese children.
Team Name: SalaryGopher
University Affiliation: University of Chicago (US)
Summary: SalaryGopher.com allows colleagues to form groups and share salary information with each other in a sufficiently anonymous environment. The data allows colleagues to make better informed compensation and career decisions. A job board section lets employers post job ads and access active and, more significantly, passive job seekers.
Team Name: SparkMedia
University Affiliation: University of Waterloo (Canada)
Summary: MultiVue™ technology will allow telecommunication companies to deliver cost-effective IPTV services to an almost infinite number of television sets and mobile devices - without compromising video quality.
Team Name: TakeShape
University Affiliation: University of Oregon (US)
Summary: TakeShape's first product, the BodyMap, offers a revolutionary way to collect, organize, and analyze body information. The BodyMap is a 3D holographic bodyscanner that is the result of over 15 years of development, and is protected by 8 patents. TakeShape plans to begin marketing the scanner to pro and college sports teams in fall of 2008, and then expand sales into high-end health and fitness clubs.
For further information, please visit www.bm.ust.hk/mbaplan/.
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