2009 Headlines
Bombyx Wins BR Ventures Cornell Venture Challenge
Run by Cornellians, Bombyx offers alternative solution for eyesight regeneration
May 8, 2009 | Ithaca, NY | BR Ventures (BRV), an MBA student-run, early stage venture fund of the Johnson School at Cornell University, today announced that Bombyx Technologies, founded by Benjamin Rollins (MBA '09) and Brian Lawrence, a PhD student in Biomedical Engineering, received top honors at the first annual Cornell Venture Challenge. 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 current solutions on the market, such as corneal transplants. Bombyx Technologies will receive $10,000 for first place. In addition, because the company is based on Cornell technology, the prize money will be matched by Cornell's Center for Technology and Enterprise (CCTEC), for a total prize of $20,000. Bombyx will also receive 20 hours of free legal advice from BR Legal.
Student managers from BR Ventures reviewed all entries and selected five teams to advance as finalists of the competition, held during the University-wide Entrepreneurship@Cornell Celebration on April 16, 2009. Finalists' business plans were judged by a panel of experts on the basis of innovation and originality, competitive advantage, customer and competitive analysis, and business model. The 2009 event also featured individual sessions in which judges provided the finalists with feedback on their business plans and the presentations.
"Taking first prize in the Cornell Venture Challenge is a significant milestone for Bombyx," said Benjamin Rollins, co-founder and CEO of Bombyx Technologies. "The finalists represented an impressive mix of technologies and consumer products, so a first place victory is a true testament to the strength and innovation of the work we are doing to regenerate vision, particularly for those who do not have access to costly corneal transplants."
Developed through biomedical research performed at Cornell and Tufts Universities, this alternative to corneal transplantation could eliminate the need for donor corneas in many cases, and reduce cost and complications. Bombyx's technology is based on a contact lens-like design which incorporates proprietary technology that regenerates damaged tissue.
Second place went to Sound Reading Solutions, Inc., which provides innovative software and an approach to learning that eases reading difficulties by using proprietary cognitive learning methods. The company was co-founded and is run by Greg Hubbell, MBA '02. Third place went to iFyber LLC, which seeks to be the world leader in customized nanotechnology based fabric treatments, processes and products for the military, medical and technical textile markets. The second and third place teams will receive $2,500 and $1,000, respectively.
About BR Ventures
BR Ventures (BRV) is an MBA student-run, evergreen, early stage venture fund of the Johnson Graduate School of Management at Cornell University. With over seven portfolio companies spanning high-tech, healthcare, biotech and sustainable technologies, BRV's investments represent the cutting edge research at Cornell University. BRV is committed to promoting entrepreneurship at Cornell and in the local community. It has several partnerships with prominent angel VC groups in upstate New York and with bigger firms in the Northeastern region of the United States. More information is available at www.johnson.cornell.edu/brv.
