UC s Spirit of Enterprise Recognizes Emerging Entrepreneurs

The Ninth Annual UC Spirit of Enterprise Competition featuring 14 graduate student teams from leading universities across North America, the United Kingdom and India, was held Feb. 21 and 22 at Cincom Systems world headquarters in Cincinnati. The Cincom Spirit of Enterprise Champion receives $10,000 and an automatic bid to the 2013 Venture Labs Investment Competition® (formerly MOOT Corp.).  Prize money is also awarded for first, second and third runner-up positions, as well as to the recipient of the taxi/limo round, best technology plan, and the top three best exhibit presentations.

Students from Johns Hopkins University, the University of Arkansas, University of Cincinnati, University of Louisville, UCLA, the University of Oregon, Warwick University (UK) and other universities presented new venture ideas, including services, retail, healthcare, advanced manufacturing techniques and more.

VOC Diagnostics from the University of Louisville, was named the Cincom Spirit of Enterprise Champion and received $10,000 in addition to an automatic bid to the upcoming 2013 Venture Labs Investment Competition®, often called “The Super Bowl of World Business-Plan Competitions.” VOC Diagnostics’ VitaLung is a non-invasive, accurate, affordable and simple test for the early detection of lung cancer. VitaLung applies cutting-edge biomarker research to detect the presence of lung cancer through the capture and analysis of volatile organic compounds (VOCs) in a patient’s breath.

“Over the past nine years, the innovative business solutions presented by these emerging entrepreneurs have been nothing short of phenomenal,” commented Dr. Charles H. Matthews, executive director of the UC Center for Entrepreneurship Education & Research and founder of the Spirit of Enterprise. “The Spirit of Enterprise allows teams to road test their venture ideas, receive expert feedback, network and compete for prize money, while showcasing Greater Cincinnati Northern Kentucky as an exceptional place to launch their start-up.”

Everfile, an innovative data storage device from the University of Illinois at Chicago, took home the 1st Runner-Up $3,000 Meridian Spirit Award. SHHADE, using business intelligence/healthcare analytics to reduce the burden of healthcare costs to hospitals and insurance companies from the University of Miami (Florida), won the 2nd Runner-Up $2,000 CincyTech Start Up Award. ParadigMed, developers of a cost-effective, disposable, non-surgical device that can be used in an outpatient setting to reduce the transmission of AIDS from the University of Arkansas, took home the 3rd Runner-Up $1,000 Queen City Angels First Fund Award.

Teams not advancing to the finals had the opportunity to enter the popular Taxi/Limo Round of the competition. The teams take an actual 10-minute limo ride mirroring a chance encounter with a potential angel investor. Sustain-A-Watt, developers of the PowerGenietm smart power strip that allows consumers to control active and passive home energy use from their smart phones from the University of Cincinnati, took the Taxi/Limo Round Award $1,000 cash prize for convincing the judge of their business plan's viability before the ride came to a halt.

The Award for Best Technology was won by VOC Diagnostics.

UCLA's Neural Analytics took the first place $350 award in the Best Exhibit category.  VOC Diagnostics took the second place $250 award, and Karcinex from Johns Hopkins University won the third place $150 prize.

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