And the Winner is…ClearBrook Imaging! (Release)

ClearBrook Imaging is $25,000 closer to launching its medical venture after winning the 20th annual New Venture Championship, a business plan competition held by the Lundquist Center for Entrepreneurship of the University of Oregon.

Sixteen teams of graduate students from universities around the world, including Hong Kong and Thailand, competed in Portland in the three-day competition.  The New Venture Championship, a Forbes magazine top 15 graduate business plan competition, concluded Saturday, April 9.

ClearBrook Imaging

ClearBrook Imaging; Photo by Chelsea Jennings

ClearBrook Imaging is a specialty medical device company that developed intravascular photoacoustic cardiac catheterization imaging technology. ClearBrook’s revolutionary imaging technology can provide cardiologists with the necessary information needed to properly diagnose atherosclerosis and plaque vulnerability.

David Mortellaro, member of ClearBrook, commented about NVC. “It was a fierce competition, and the amount of feedback was almost overwhelming. The interaction between teams and judges was very personal.”

The winner of the New Venture Championship receives an automatic entry to the 2011 Venture Labs Investment Competition, a business plan contest held at The University of Texas at Austin.

The second-place team, aQuainnova from SASIN Institute of Technology at Chulalongkorn University in Thailand, received $10,000. aQuainnova has developed tools to detect common viruses in aquaculture. Two runner-up teams, Hemova Medical from Johns Hopkins University and VisiRay from University of Oregon each received $2,500.

NVC Students Relaxing

NVC students enjoying downtime; Photo by Chelsea Jennings

Hemova Medical also won $1,000 for first place in the Tektronix Elevator Pitch competition and CAIR Technologies from University of Manitoba was awarded $1,000 for first place in the Tektronix Trade Show Competition.

Fork in the Road from Portland State University won $1,000 for Best Written Business Plan Award.

In the Oregon Entrepreneurs Network (OEN) Lightning Round each of the following won $1,500: Fork In The Road from Portland State University, Kalood from Brigham Young University, Enzium from Carnegie Mellon University and CAIR Technologies from University of Manitoba.

The OEN Lightning Round is a brief, intensive one-on-one session in which competitors must make a “quick” pitch without the help of visual aides. All other OEN Lightning Round competitors received $500.

NVC Model Unlike Others

In January, more than one hundred teams yearned to participate in the 20th annual New Venture Championship. Only 16 teams were chosen to venture to Portland for the Semifinal round in this highly competitive competition, held each April.

Each team in the Semifinal round formally presents their venture plan to an esteemed panel of judges that includes venture capitalists, seasoned business executives and experienced entrepreneurs. Presentations are followed by a hard-hitting question-and-answer session. At the end of the round each team is briefed individually and receives extensive feedback from the judges’ panel, a key element of the New Venture Championship (NVC) learning model.NVC Setup

Only four teams whose ideas and plans stand up to rigorous questioning and scrutiny by the judges will rise to the top. Teams must convince investors and executives that the team’s business plan represents a solid, viable investment opportunity.

While other competitions place restrictions or limitations regarding prize money, NVC awards teams with what they need: cash. The winning team also receives automatic berths to 2011 MOOT CORP competition and 2012 New Venture Championship.

Second place receives $10,000; third place receives $2,500; runner-up team receives $2,000.

The twelve teams not chosen as finalists still have an opportunity to win prize money in the Oregon Entrepreneurs Network (OEN) Lightning Round. Here, the quality of their teamwork and ability to adapt is pushed to the limit. Without the use of props or visual aides, the teams make a “quick” pitch to a new panel of judges. The panel identifies strengths and deficiencies within each plan to leverage the strengths and fix the deficiencies. Teams must meet the challenge of doing it all in fifteen minutes.

No PowerPoint, props, charts, or other support materials can be used in the presentation. During the fifteen-minute adjustment period teams may access research information, related materials, laptop computers and other reference items. Teams have access to napkins and pencils in order to illustrate their points.

When asked about the Lightning Round, AE Solutions from Hong Kong, said, “You better be good at drawing.”

Most teams need hundreds of thousands of dollars in capital in order to take their venture to the next level. While $25,000 may seem relatively small, teams value the opportunity to present their ventures to angel investors, entrepreneurs and top executives, who comprise the judging panel and audience members. Not only could your team exit Portland with $25,000, you may find the person or group willing to invest in your venture.

This opportunity is tremendous and this experience is invaluable.

Written by: Nic Corpora

The 2011 NVC Finalists Are…

Sixteen teams traveled to Portland, OR to participate in our business plan competition. Now, four teams are going to the finals to compete for the $25,000 grand prize. Oregon New Venture Championship congratulates the four teams who are going to the finals!

The results are in, the judges have been fed and it is time to kick off the finalist reception! Congratulations to:

VisiRay, University of Oregon

VisiRay

Team members include: Walther Buecklers, Andrew Cook, Orit Ofri and James St. Clair; Faculty Adviser: Don Upson

VisiRay plans to bring airport scanning technology to the pest control industry through their new pest detection product. This product provides visual evidence of pest infestation in the home. When asked about their chances in Saturday’s finalist competition, Walther Buechklers of VisiRay concludes, “we did really well today, and if we do the same tomorrow, I think we have a decent chance of winning”.

aQuainnova, SASIN

aQuainnova

Donsiri Aromsook, Porametr Chetnakarnkul, Prapada Prapan, Nichaboon Purnaveja, Patraporn Saenawatanakul; Faculty Adviser: Nick Pisalyapua

The vision at aQuainnova is to develop tools that will detect common viruses in aquaculture. Their first prototype, Genovex, detects common viruses in shrimp. aQuainnova traveled to NVC from Thailand and is one of the competition’s most impressive international teams.

Hemova Medical, Johns Hopkins University

Hemova Medical

Team members include: Sherri Hall, Peter Li, Shishira Nagesh, Mary O'Grady and Thora Thorgilsdottir; Faculty Adviser: Souymadipta Acharya

A patented technology, Hemova Medical has developed a new way to access blood for dialysis that will remain accessible for up to four times longer than current methods. “The judges said that out of all of the teams that they’ve seen, we were the only one to own their IP. We developed technology from the ground up, and this money would help us with the next stages,” Shishira Nagesh stated.

ClearBrook Imaging, University of Texas at Austin

ClearBrook Imaging

Team members include: Ryan Miller, David Mortellaro and Jimmy Su; Faculty Adviser: Gary Cadenhead

ClearBrook Imaging is a specialty medical device company that focuses on the development of a cardiac catheterization imaging technology. This technology will allow medical professionals to efficiently diagnose cardiac diseases.

 

Written by: Nic Corpora and Nicole Hyslop

Elevator Pitch: You Have One Minute

Tonight’s elevator pitch was a huge success. Held in the White Stag building of the University of Oregon’s Portland campus, 16 teams had 60 seconds to pitch their business plans to a panel of judges and a room full of business executives. Here are a few pitches that stood out this evening:

University of Oregon’s VisiRay team.

KarmaGoat from UCLA.

Tomorrow is the semifinal round and the finalist announcements. Stay tuned for updates!

 

Written by: Nic Corpora and Nicole Hyslop

Some Trade Show Contestants

Hors d’œuvres await the teams, faculty members, and attendees of the Tradeshow at the opening night of the NVC competition. From miniature hamburgers, to hummus and cheese cubes, a small bar serving house wine and cocktails, and plenty of competitors awaiting to talk about their products, tonight’s expo is both delicious and informative. Here are a couple of ventures I learned about while walking around the White Stag annex:

CUDDLE CLONES

Cuddle Clones digitally reproduces pets into a custom-made stuffed animals that distinctly match the detailed features of your pet. Customizing everything from small markings to eye and paw color, Cuddle Clones allows you to bring a stuffed animal looking identical to your real pet anywhere you wish!

FORK IN THE ROAD

An affordable, franchisable grocer on wheels! Fork in the Road works directly with independent wholesalers to reach market space that is currently neglected.

 

 

 

Many more blogs to come about this year’s New Venture Championship! Stay tuned.

 

 

Written by: Hannah Moore

This Weekend in Portland!

Got a few breaks during the evenings this weekend at NVC? Wondering what to do? Check out some of the fantastic events going on in downtown Portland.  Whether this is your first time in Portland or you are familiar with the area, the city is always thriving with culture and contemporary life.

Thursday, April 7th

Art Exhibit

Portland Museum of Art

1219 S.W. Park Ave.

Portland, OR 97205

0.5 miles from Hotel Monaco

Take a guided tour of the Jubitz Center for Modern and Contemporary Art and explore numerous forms of media including photography and decorative arts.

Time: 6:00 – 7:00 PM

Cost: Free with museum admission

Comedy

Arlene Schnitzer Hall

1037 Southwest Broadway

Portland, OR 97205

0.4 miles from Hotel Monaco

See Sarah Silverman, the popular comedian perform at Arlene Schnitzer, one of the most prized venues part of Portland’s Center for the Performing Arts.

Time: 8PM

Cost: $42.00

Friday, April 8th

Concert

The Hawthorne Theatre

1507 S.E. 39th Ave.

Portland, OR 97214

3 miles from Hotel Monaco

Enjoy performances by A Rocket to the Moon, Valencia, Anarbor, Runner Runner, and Go Radio.

All Ages

Time: 7:00PM

Cost: $15

Dinner and live music

The Heathman Restaurant & Bar

1001 S.W. Broadway

Portland, OR 97205

0.4 miles from Hotel Monaco

Have dinner or drinks at the Heathman Restaurant  & Bar, which offers a French touch to Northwest cuisine. Musical performances by Johnny Martin.

Pizza, beer, and live music

Mississippi Pizza Pub

3552 N. Mississippi Ave.

Portland, OR 97227

2.3 miles from Hotel Monaco

Band: Lamppost Revival (Acoustic Folk-Rock)

Time: 6:00pm

Saturday, April 9th

Dinner and live music

Portland Prime

121 Southwest 3rd Avenue

Portland, OR 97204-2704

0.3 miles from Hotel Monaco

Treat yourself to seafood and steak; listen to some live Jazz music by the Mel Brown Trio.

There’s always something going on in the City of Roses.

Check out a full list of events this weekend at http://www.oregonlive.com.

 

~BEST OF LUCK TO ALL THE COMPETITORS IN

THE 2011 NEW VENTURE CHAMPIONSHIP!~

 

Written by Hannah Moore

How to Prepare for a Business Event

With the New Venture Championship competition less than 24 hours away, anxious feelings of anticipation are sure to be running high among the graduate business student community. Not only does this event present an opportunity for the winner to expand their ideas, but it also presents a chance for students to get their name out there among the greater Portland business community. As always with an event such as this, there are certain preparations in the hours leading up to the competition that can be taken to make the whole experience easier.

1. Have your resumes handy. It never hurts to have a few resumes or business cards on hand in case you make a connection with someone at NVC. Don’t present them to everyone, but if the timing and relationship is right, who knows? You might meet your next employer!

2. Research your judges. After the first day of competition, it is a good idea to research the people judging you. Nothing big—you do not need to know how many cats he or she has—but having some knowledge about where each judge works or what his or her credentials are couldn’t hurt.

3. Avoid the late nights. This one seems like a no-brainer. Even at the event, in order to be the best “you” possible, avoid the late night bar visits. Of course it is a good idea to go out and grab a drink with your teammates and fellow competitors to relax, but keep an eye on the clock!

4. Get up 30 minutes earlier than usual. This extra time will allow you to have some time to yourself before you are in competition mode. So, go ahead, browse the New York Times over your morning cup of joe before your roommates wake up. The extra time to breathe will bode well later in the day.

5. Don’t stress. You have been preparing for this event for months on end, so you’re as ready as you’ll ever be. Cut the late night presentation sessions—it’s time to face the music: are you ready for NVC, or not?

Written by Nicole Hyslop

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