Three student-led startups, including two from Tulane University, will compete for $37,500 in prize money on Friday (April 15) in the final round of the 16th annual Tulane Business Model Competition.
The national contest, which is presented by the Albert Lepage Center for Entrepreneurship and Innovation, rewards early-stage ventures launched by university students that demonstrate a market-tested ability to adapt to their potential customers’ needs.
“We’re very pleased with the continued growth of the competition,” said Sherif Ebrahim, professor of practice and director of entrepreneurship and innovation education at the Lepage Center. “This year’s submissions showed a significant jump in both quantity and quality, with outstanding entries in the areas of biosciences, engineering, sports science and technology, but our three finalists truly represent the best of an impressive group of business models.”
The competition is from 2-4 p.m. in room 1111 of Goldring/Woldenberg Hall II in the A. B. Freeman School of Business at Tulane University.
Finalists will present their business models to a panel of judges in the hopes of winning the $25,000 top prize. The runner-up receives $10,000, while the third place team walks away with $2,500.
• Sensifoam, a Tulane startup that is working on a product to prevent patients from developing bed sores in hospitals. The technology, which was developed in a biomedical engineering course, is a smart, adhesive patch that utilizes a matrix of soft, force-sensitive foams to transmit pressure data to caretakers via a mobile app.
• Bioaesthetics, a startup by Tulane bioinnovation doctoral student Nicholas Pashos. The company is developing a graft that plastic surgeons can use in breast reconstruction surgery to regenerate a nipple and areola after a mastectomy.
• Sensytec, a venture by University of Houston students that uses smart cement technology to retrieve and analyze critical data on cement and concrete at any point in a structure.
The winners will be announced Friday evening at the annual 2016 Tulane Council of Entrepreneurs Awards Gala.