The Moot Corp Competition is a business plan competition that simulates the real-world process of raising venture capital. Teams present an original business plan to a judging panel consisting of venture capitalists, attorneys and other funding experts. The panel functions as an investment group seeking to reach consensus on the business venture they would most likely fund. Teams are judged on the quality of the idea, the strength of the management team and the clarity and persuasiveness of the written plan and oral presentation.

“This competition simulates the real-world process of raising venture capital,” said Dr. Gary Cadenhead, director of the Moot Corp Program. “The participants and judges approach this competition as a real opportunity for future ventures.”

Judges for the Moot Corp global competition include representatives from such organizations as The International Bank of Commerce, Ernst & Young and The NASDAQ Stock Market.

Many of the teams competing in the 2002 Moot Corp Competition won intramural competitions at their respective universities. The teams will represent a diverse group of graduate students who have developed business plans with strong potential to become successful ventures. Representative teams include:

Private Concepts — University of Texas at Austin
This venture provides safe, affordable, home diagnostic medical tests for women. The company's initial product is a self-administered cervical cancer screen developed by Austin gynecologist Dr. Patrick Pevoto.

CeaseFire Solutions, Inc. — Thammasat University
CeaseFire, the self-activating extinguishing ball, can be safely thrown into a fire, dispersing standard extinguishing chemicals without the complications or danger of standard canister extinguishers.

Silicon–light — London Business School
Silicon–light develops and commercializes technologies that enable light interconnect in silicon electronic and optical devices based on the research by the team of Professor Kevin Homewood at the University of Surrey.

Roving Planet — University of Colorado at Boulder
Roving Planet designs innovative middleware that allows companies to use their wireless LANS for everything from customer service to operations.

FairUse — University of Oxford, UK
FairUse will increase software companies’ profits by offering them online product activation as a service by which they can reduce unauthorized use of their products.

On the first day of competition, all 30 teams will compete in an opening round. Five finalists will be selected to compete for the Global Championship and the $100,000 initial investment. Teams not selected as finalists will have the opportunity to compete in the Money Rounds offering prizes of up to $3,000.The public is invited to attend the opening rounds and the competition finals.

“The $100,000 prize will serve as an early-stage bridge loan to give entrepreneurs breathing room while raising their first major round of venture financing,” said Cadenhead. “The only qualification is the team must be committed to launching its venture.”

Created by University of Texas MBAs in 1984, the business plan competition was the first of its kind in the world and has become the premier launching pad for aspiring MBA entrepreneurs to start viable business ventures. Previous global winners include Bio-Pet Technologies from the University of Georgia, Jetfan Technology from Queensland University of Technology in Australia, DementiaGuide, Inc. from Saint Mary’s University in Canada and Lear NeuroLogic Inc. from the University of Western Ontario.