intnews111704

Student entrepreneurs win $26,000 in UT competition; glucosamine joint cream advances to compete for $150,000 prize

November 17, 2004

A pair of students from the University of Georgia promoting a glucosamine cream for joint pain relief won first place in the International Idea to Product (I2P™), hosted by The University of Texas at Austin.

Solomon Garret and Michael Clark with Advisor Dr. Charles Hover of University of Georgia

Students from the University of New Hampshire took second place with their business plan proposal for an improved MRI technology. Students from The University of Texas at Austin placed third with their plan for wireless, low-cost telecommunication services for third-world countries.

The first place team won the Chair of Free Enterprise Award, $10,000 and a slot in next spring’s Moot Corp. competition, which offers a $150,000 prize. The second place team won the Technology Entrepreneurship Society Award and $5,000, and the third place team won the TyRex Innovation Award and $2,500. In addition, $8,500 in prize money was awarded to seven teams during the Friday Challenge Round.

Thirteen teams from around the world participated, including teams from Penn State, Imperial College London, Stanford University and Monterrey Tech.

I2P™ was conceived by Dr. Steve Nichols, mechanical engineering professor and associate vice president for research, and John Doggett, senior lecturer in entrepreneurship at The University of Texas at Austin’s McCombs School of Business, to enhance cross-disciplinary studies in entrepreneurship, research, technology-based product development and emerging markets. It encourages students to learn about and participate in the commercialization of research. The international competition grew from a local I2P event began by students at The University of Texas at Austin.

Hosts

Partners and Sponsors

Selig Fund in Entrepreneurial Studies

Roden Center of Entrepreneurship