Cornell Venture Challenge
Congratulations to Bombyx Technologies for winning this year's competition! Congratulations also go to our second place winner, Sound Reading Solutions Inc and third place winner, iFyber LLC. Check back soon for next year's event application.
Finalist Presentations
When: Thursday, April 16th, 2009; 8:30am - 12:00pm
Where: 141 Sage Hall
| 8:30 - 9:00am | Bombyx Technologies |
| 9:15 - 9:45am | Biodynamic Systems |
| 10:00 - 10:30am | e.c.o. Incorporated |
| 10:45 - 11:15am | iFyber, LLC |
| 11:30am - 12:00pm | Sound Reading Solutions |
Bombyx Technologies: Bombyx Technologies regenerates eyesight that has been lost due to injury. Through innovative technology this medical device company will introduce a less expensive, less invasive, and more effective alternative to the current solution (corneal transplants).
Biodynamic Systems: Secure and sustainable energy is the goal of Biodynamic Systems. Biodynamic Systems will deliver complete control system solutions to customers that cultivate oil-rich algae for biofuel. Algae are more scalable and energy positive than first generation biofuels. They do not compete with agriculture as they require neither arable land nor fresh water.
iFyber LLC: iFyber LLC seeks to be the world leader in customized nanotechnology based fabric treatments, processes and products for the military, medical and technical textile markets.
e.c.o. Incorporated: e.c.o. Incorporated is marketing its first product, the "Green Box" (U.S. Patent 7051919). The "Green Box" is a pizza box made from 100% recycled material. The top of the box breaks down into convenient serving plates and the remainder of the box converts easily into a handy storage container.
Sound Reading Solutions, Inc.: Sound Reading Solutions (SRS) is a revolutionary literacy system based on advanced neurological research into dyslexia, which affects 30% of English language readers. Our innovative software and reading practice produces unrivaled improvement (> 1 standard deviation) by using proprietary cognitive learning methods. SRS is fun, fast and effective.
Cornell Venture Challenge Overview
Submissions Dates:
Preliminary Submissions: December 15th, 2008 - March 1st, 2009
Finalist Submissions: March 15th, 2009 - April 6th, 2009
Competition: April 16th, 2009
The BR Ventures Cornell Venture Challenge
Submit your idea at: http://cornell.studentbusinesses.com/
The Cornell Venture Challenge provides a way for Cornell-affiliated individuals and current students and faculty at other universities to take their first step toward turning an idea into a viable business. The competition is sponsored by BR Ventures (BRV), a student-run venture capital fund at Cornell University's Johnson School of Graduate Management.
Entry Teams will develop their ideas in the form of a 2-3 page executive summary and submit them to a panel of judges. Finalists will be chosen and expected to submit a more comprehensive (10-15 page) business description. The finalists will present their plan before BR Ventures and judges from the venture capital community. The top three teams will win a cash prize and be considered for investment by BRV and business incubation by BRV's sister organization, BR Incubator. Additionally, the other VC judges may invest in ventures at their own discretion.
2009 marks the first Cornell Venture Challenge, following seven years of BRV's Business Idea Competition. The competition is designed to foster entrepreneurship by combining the talents of entrepreneurs with the capital and resources of BR Ventures and the BR Incubator.
Eligibility
Any individual or Entry Team that has at least one member currently enrolled as a student at, or is an alumnus/ae of, a recognized division of Cornell University, and all Cornell University faculty, staff, and other employees (a "Cornell Affiliate") are eligible to enter at no cost. The primary contact person for each Entry Team must be a Cornell Affiliate.
Teams consisting of current students and/or faculty at other universities with no Cornell Affiliation have an entry fee of $50. Payments can be made by mailing a check to BR Ventures, Johnson School Student Activities & Special Events Office, 107 Sage Hall, Ithaca, NY 14853-6201. Current BR Ventures Managers, BR Incubator Directors, or Advisors to the Fund may not participate in the competition.
Entry Teams that already secured financing or other capital arrangements from any source for their Business Idea must disclose the amounts and sources of such funding in their Business Idea Submission Form. Financing arrangements include, but are not limited to, sales revenue or contracts, research grants, personal or family funds, angel investment, or professional venture capital investment. Entry Teams that have had extensive contact with the Fund or have secured financing or other capital arrangements for their Business Idea in excess of $100,000.00 may be ineligible to compete, and should contact BR Ventures prior to submitting their Business Idea for an eligibility determination by sending an e-mail to brventures@cornell.edu.
Awards
First prize will be awarded $10,000.00 and 20 hours of free legal help through Cornell's Entrepreneurship Legal Services program. Second prize will be awarded $2,500.00. Third Prize will be awarded $1,000.00. Additionally, CCTEC (Cornell's Center for Technology Enterprise and Commercialization) will provide a 'Cornell Technology Transfer Prize' to match the Cornell Venture Challenge prize award for any winner whose business idea is based on Cornell intellectual property officially disclosed to and are officially on record at CCTEC at the time the idea was submitted to the Cornell Venture Challenge. Checks will be presented to the winning teams by BR Ventures at the Awards Dinner on April 16th, 2009. All prizewinners will also be reviewed by the BR Ventures for possible incubation and/or investment; subject to mutual interest and mutually agreeable terms.
Judging
A panel of judges from the venture capital and entrepreneurship community, which may include Managers of BR Ventures, successful entrepreneurs, venture capitalists, professors, and legal professionals, will review the submissions. All decisions of the judging panel are final. The judges are not required to provide feedback or assistance to the entrants either before or following the competition. The judging will be primarily based on the viability of the business idea, as presented in the submissions and the information conveyed during the Finalists' presentations.
Confidentiality
The BR Ventures does not sign confidentiality agreements. This is standard policy for venture capital firms.
BR Ventures will undertake reasonable efforts to ensure that all Entry Teams and Entry Team members retain all rights to ideas and intellectual property, as applicable. BR Ventures does not share submissions with any parties outside of the judging panel either before or following the competition.
Finalists will present in front of a public audience at the Cornell Venture Challenge and it is the responsibility of the finalists to ensure that all material in the presentation is appropriate for the public.
Competition Timeline
| Date | What's Happening? |
| December 15, 2008 | Executive summary submission starts |
| March 1, 2009 (11:59PM EST) | Executive summary submission ends |
| March 15, 2009 | Finalist notification |
| April 6, 2009 (11:59PM EST) | Finalist submission ends |
| April 16, 2009 (day) | Finalists presentations & judging |
| April 16, 2009 (evening) | Finalist dinner, awards presentation |
2008 Winners
1st Place
FreeGreen: FreeGreen's mission is to encourage progressive building practices by making green home designs free for everyone. FreeGreen works with industry-leading product manufacturers to present users with different combinations of green products, materials, and vendors. FreeGreen also provides 3-dimensional images, energy simulations, and written descriptions to help users find the right fit for your lifestyle.
2nd Place
GeneWeave Biosciences: GeneWeave Biosciences is an Ithaca-based biotech startup that will revolutionize the way hospitals detect bacterial disease. Their diagnostic devices can precisely determine the presence and drug-resistance of disease causing bacteria without the need for a medical lab. The company was started in 2007 by two Cornell PhD candidates and is run by CEO Jason Springs, a MBA student at the Johnson School.
3rd Place - Tie
The Hundred: The Hundred is an innovative new car design based on a revolutionary powertrain and chassis platform that will be the first ever commercial 100 mpg vehicle that is safe, affordable, and fun-to-drive. The vehicle owner will benefit from substantial fuel savings and reduced carbon emissions without sacrificing safety or driving experience.
Efficient Solar Power Systems: Efficient Solar Power Systems helps reduce cost of solar power generation by increasing system efficiency through a unique integration of Photo Voltaic (PV) panel and electronics. Unlike typical solar companies that spend millions to get 1% increase in efficiency, we can get the same results at a small fraction of that cost.
