Six teams were chosen as finalists in UCSB’s 12th annual New Venture Competition and will compete for cash prizes and investment opportunities next Wednesday at 3 p.m. in Corwin Pavilion. The contending finalists — Athlete Performance Data Systems, WageCraft, Aptitude Medical Systems, SyncIn, Replica Therapeutics and DermaTex — will have 10 minutes each to pitch their business plans to a panel of four judges. The competition, organized by the UCSB Technology Management Program, awards over $75,000 in legal support, banking support, signage and office space among the winning participants.
TMP Program Manager Bill Grant said the event reflects months of hard work by an academically diverse group of students.
“The New Venture Competition finals are the culmination of lots of hard work by some great students from many majors across campus,” Grant said. “It’s one of the few campus-wide events where you’ll find economics, chemistry, communication and engineering majors, as well as many other majors, all participating together and putting their learning into practice.”
According to Grant, the past five winners of the competition are now operating companies with investments of over $10 million.
TMP Mentor Steve Cooper, who advises CEOs of early-stage companies, said this year’s event features some of the most competitive business ideas to date.
“They got a great group of students who really excelled this year,” Cooper said. “There were a huge number of participants — it’s significantly grown from years past. It should be a really good program next Wednesday.”
The event is open to the public with seating limited to 300 guests. RSVPs can be made via e-mail to firstname.lastname@example.org.