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NuMat Technology Wins 2012 Global Venture Labs Investment Competition

NuMat Technology Wins 2012 Global Venture Labs Investment Competition

 

May 7, 2012

Austin, Texas — NuMat Technologies from Northwestern University beat out 37 teams from top MBA programs around the world to claim the grand prize at the 29th annual Global Venture Labs Investment Competition held at The University of Texas at Austin on Saturday, May 5. NuMat Technologies designs and creates high-performance materials to store clean fuels and produce them on a large scale for industry.

NuMat Technologies was awarded the top prize after the two-day competition that featured 15 international MBA teams and 22 teams from the leading MBA programs around the U.S. Finals-round judges were William Glasgow, Prime IX Investments; Phil Speros, Halsa Pharmaceuticals; Mike Dodd, Austin Ventures, and Thomas Pickens III, Astrotech Corporation.

NuMat Technologies’ COO Tabrez Ebrahim received his B.S. in Mechanical Engineering from the Cockrell School of Engineering at The University of Texas at Austin. “It feels really good to be an alum—Austin’s my favorite place.” Ebrahim also worked with cleantech startups at the Austin Technology Incubator, which has helped 200-plus startups raise over $1 billion in investor capital.

The NuMat team won a $135,000 package including Austin Technology Incubator office space, mentoring and consulting services; a full-page ad in Inc. magazine; consulting with the McCombs entrepreneurship faculty worth $25,000; and cash. The winning team will also close the NASDAQ Stock Market on July 27th.

A team from Thammasat University in Thailand won the first-ever $10,000 Wells Fargo Clean Energy prize. Their startup Paramaxx has a proprietary technology that can extract valuable natural minerals such as magnesium, nitrogen and phosphorus from industrial waste.

NuMat Technologies was one of two teams that reached the Saturday-afternoon finals round of four teams via the Wild Card Challenge. The other was Ischiban from the University of Cincinnati, a medical device startup company that develops comprehensive diagnostic and monitoring systems for emergency, mobile and long-term applications to aid in the assessment of neurological status for conditions like stroke.

Athena Laboratories, which was first runner-up, is the first team from McCombs’ Masters of Science in Technology (MSTC) program to make it to the Global Venture Labs finals. Athena CEO Ravine Woods said, “We’re super excited and very proud to be in the finals.” Athena Laboratories is a medical device company whose FemtoSmooth™ laser technology can treat cellulite in a minimally invasive, less painful manner.

Rounding out the finals was Sustainable Agriculture Solutions (SAS) from Universidad de Los Andes in Colombia. SAS will produce an enhanced-efficiency fertilizer incorporating a patented nanotechnology called CDS® that protects crop nutrients, saving in fertilizer cost, increasing productivity and safeguarding the environment.

The Global Investment Venture Labs Competition simulates the real-world process of raising venture capital. It is a unique partnership that brings together graduate students 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.

Begun at the University of Texas at Austin by MBA students in 1984, the Venture Labs Investment Competition is the oldest new venture competition in the world, and it provides MBA student teams with a chance to simulate the real world process of raising venture capital.

The competition was sponsored by Jon Brumley Texas Venture Labs. An interdisciplinary education and research initiative, Venture Labs promotes new venture creation at The University of Texas at Austin through education and mentoring, market and business plan validation, team-building and networking and direct links to resources and funding.

 

 

 

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Wells Fargo to Sponsor New Clean Energy Track and Award $10,000 at This Year’s VLIC

Austin, Texas — Graduate students working on green start-up business ideas should take note of a new opportunity at this year’s Global Venture Labs Investment Competition (VLIC) at the University of Texas at Austin McCombs School of Business. 2012 will be the first year the Wells Fargo Clean Energy Prize of $10,000 will be awarded to the best start-up focused on improving energy efficiency, innovating energy delivery and offering energy from alternative fuels for both residential and commercial energy sectors.

“This partnership with Wells Fargo is ideal due to its commitment to renewable energy and entrepreneurial endeavors in this rapidly growing sector,” said Rob Adams, VLIC director.  “Wells Fargo is a leader in Clean Energy and their reach and abilities are of real value to the companies raising money through the Venture Labs process.”

Graduate students from universities around the globe come to Austin each May to present their business ideas at VLIC. From among myriad offerings, panels of investors select the best new-venture opportunity. With aspiring entrepreneurs soliciting start-up funds from experienced investors, the competition simulates the real-world process of raising venture capital.

Teams have until the first week of April to apply. Interested students should contact Ann Whitt, and visit the VLIC website for more information.

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Wells Fargo Provides Grant to University of Texas for Clean Energy Business Ventures

Dec. 5, 2011

Austin, Texas — As part of its national environmental grant program, Wells Fargo today announced that it has provided a $125,000 grant to the McCombs School of Business at The University of Texas at Austin that will fund a new Clean Energy track within the 2012 Global Venture Labs Investment Competition (GVLIC).

Graduate students from universities around the globe come to The University of Texas at Austin each May to present their business plans at The Global Venture Labs Investment Competition. From among myriad offerings, panels of investors select the best new-venture opportunity. With aspiring entrepreneurs soliciting start-up funds from experienced investors, the competition simulates the real-world process of raising venture capital.

Competing for the new Clean Energy Prize sponsored by Wells Fargo (along with the overall Global Championship) at the GVLIC will be start-ups focused on improving energy efficiency, innovating energy delivery and offering energy from alternative fuels, for both residential and commercial energy sectors.

“This partnership with Wells Fargo is ideal due to its commitment to renewable energy and entrepreneurial endeavors in this rapidly growing sector,” said Rob Adams, director of the Global Venture Labs Investment Competition.  “Wells Fargo is a leader in Clean Energy and their reach and abilities are of real value to the companies raising money through the Venture Labs process.”

“What impressed us most about the university’s competition is that it has a worldwide reach and covers renewable energy, greener buildings and energy efficiency, areas that are also core to our business,” said Michael Klein, Regional Executive of Wells Fargo’s Commercial Banking Office in Austin. “We also look forward to lending our business expertise and mentoring these aspiring new business opportunities by leveraging our leadership throughout the competition with Doug Mangum’s involvement, who was recently hired to head up Wells Fargo’s Technology and Clean  Tech practice in the southwest out of Austin.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America.  Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About the McCombs School of Business at The University of Texas at Austin

The highest ranked business school in Texas and the Southwest, and a top-ranked research institution, the McCombs School of Business at The University of Texas at Austin is dedicated to educating the business leaders of tomorrow while creating knowledge for industry and society.  McCombs educates more than 6,000 undergraduate, MBA, MPA and Ph.D. students each year, creating one of the largest cumulative impacts of any business school in the world. About 2,000 professionals also participate each year in custom programs designed for working executives and their firms. McCombs is one of the few business schools in the country to receive top marks in nearly all the business specialty areas ranked annually by U.S. News & World Report—at both the undergraduate and graduate levels.

For more information, contact: Renee Hopkins, Red McCombs School of Business, 512 471 6746; Helen K. Bow, Wells Fargo 713-319-1752.