Hong Kong Team Shines in Wake Forest MBA Competition
Posted April 12, 2006 8:05 a.m. EDT
WINSTON-SALEM, N.C. — A team of students from Hong Kong University of Science and Technology not only was the first to compete in the
Wake Forest MBA Elevator Competition
, but also won first place.
The group was one of five finalists to give formal proposals to a panel of venture capitalists serving as judges for the business plan competition. They pitched a device that can distinguish between bacterial and viral infections inexpensively, accurately and in less than 15 minutes.
The Wake Forest Babcock Graduate School of Management's Angell Center for Entrepreneurship put on the seventh annual event, which concluded Saturday.
Winning team members were Birgit Vagani, Carl Li and Neha Bhatia.
Other finalists included AudioFusion, which has developed technology to tune out tinnitus (ringing in the ears) from Wake Forest, and FS Dashboard, a web portal for fantasy sports, from the University of Georgia as well as two teams from Harvard.
"The Elevator Competition is a reality check for serious entrepreneurs because it simulates the business world," says Stan Mandel, director of the Angell Center and co-founder of the competition. "It's a Cinderella story for entrepreneurs. This year was the best yet, in terms of interest, quality and diversity of venture focus. We are finding that more MBA students are quite serious about launching a great venture upon graduation, and this group from Hong Kong echoes that finding."
In all, 20 teams participated, having been selected from 70 submissions.