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| Plan for Early Cancer Detection Wins Global Competition |
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With a promise to make "early cancer detection a
reality for millions," EANeedle of Carnegie Mellon
University won the 21st annual Global MOOT CORP®
Competition at The University of Texas at Austin May 8.
Competing against 29 other teams literally from around
the world, the Carnegie Mellon MBAs won based on
their venture on a minimally invasive biopsy procedure
targeting detection of breast and lung cancers. As
winners, EANeedle receives the opportunity to
negotiate a $100,000 investment from the MOOT CORP
Pontoon Fund. The team also receives prosecution of
its first patent from Fish & Neave valued at $25,000,
the Austin Technology Incubator Launch Package
valued at $25,000 including office space, legal and
accounting services and discounts on Dell products,
and an invitation to join Gary Cadenhead in opening the
NASDAQ Stock Market on August 6.
A second team from Carnegie Mellon, Clear Count
Medical Solutions, won first runner-up with a patented
technology to change the way hospitals count and
track millions of surgical sponges in operating rooms
around the world.
Typically, schools send only one team to the
Competition. Carnegie Mellon won an automatic berth
for EANeedle based on the strength of its
entrepreneurship program. CMU's second team, Clear
Count Solutions, gained entry by winning the Rice
University Business Plan Competition, one of 15
qualifying events. This year, four other universities also
had two entrants; these were Fundacao Getulio
Vargas, Thammasat University, the University of
Louisville, and The University of Texas at Austin.
Click Here to read more »
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| Judges Share Expertise with Participants |
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During the Global MOOT CORP Competition, each team
presents three times: the Feedback Round on
Thursday, the Opening Round on Friday, and the Money
Round on Saturday. This format enables the teams to
get feedback from three different panels of investors
and to be challenged throughout the Competition. This
format also results in approximately half the teams
going home with cash awards and/or trophies.
During the Feedback Round on Thursday, all teams had
15 minutes to present their plans to teams of
consultants from the Austin Technology Incubator,
Austin Technology Council, Luna Piena, Texchange and
Wilson Sonsini Goodrich & Rosati. Each team then
received 15 minutes of frank feedback and suggestions
for improvement. Feedback judges included:
Austin Technology Incubator: Joel Wiggins, Erin
Defosse.
Austin Technology Council: Tom Dye, Meetrix; James
Mann, Whole Security; Nestor Fesas, Bandspeed;
Robert Griswold, Crossroads System; Treg Russell,
Texas Medical Liability; Ed Molter, Brown McCarroll;
Andres Carvallo, Austin Energy.
To Read More, Click Here »
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| MOOT CORP Winners Take Home More Than $170,000 in Prizes |
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Thirty teams from top-ranked universities competed for
more than $170,000 in prizes during the 2004 Global
MOOT CORP® Competition on May 6-8. A complete list
of winners follows:
2004 Global Champion: EANeedle from Carnegie Mellon
University - Prize package worth $150,000.
First Runner-up: Clear Count Medical Solutions from
Carnegie Mellon University - $5,000.
Semifinalist: Veran Medical Technologies from
Vanderbilt University - $2,000.
Click to read more »
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| New Email Addresses for MOOT CORP Staff |
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The McCombs School of Business has recently changed
the email addresses of staff. Please make note of our
new email addresses:
Gary Cadenhead -
gcadenhead@opii.mccombs.utexas.edu
Ann Whitt - awhitt@opii.mccombs.utexas.edu.
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| New Format for Competition |
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A new format was introduced in this year's Competition.
Instead of five divisions of six teams each leading to six
finalists, the new format entails six divisions of five
teams each leading to two semifinal divisions of three
teams each and culminating with two finalists. This
format offers several advantages:
· Scalability. With this format, we could have
40 or 50 teams compete versus 30 with the old format.
· Drama. With just two finalists, the focus and
drama of the finals greatly increased. To further
increase the drama, we gave the judges for the finals a
full hour to question each team. In addition, the judges
could ask questions at any time; in other words, the
teams did not have a protected fifteen minutes. The
finals now very closely simulate the real life experience
of entrepreneurs pitching their ventures to investors.
"The judges and participants applauded the new
format," said Director Cadenhead.
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