May 6, 2020
Five Purdue student startups win more than $100,000 in cash, contributions at Burton D. Morgan Business Model Competition
WEST LAFAYETTE, Ind. – Five Purdue University student startups earned a total of $75,000 in cash prizes and another $30,000 in in-kind donations during the 33rd annual Burton D. Morgan Business Model Competition.
The competition, held April 24, promoted student entrepreneurship through five months of business model workshops.
“This is another wonderful opportunity for our student entrepreneurs to shine,” said Arnold Chen, managing director of the Burton D. Morgan Center for Entrepreneurship. “The Purdue entrepreneurship ecosystem provides numerous opportunities for students to build businesses and learn successful approaches.”
The competition also included workshops, seminars, and training provided for participants by different organizations across Purdue, including the Purdue Foundry entrepreneurship and commercialization accelerator and the Krannert School of Management, which sponsored the event along with the Burton D. Morgan Foundation.
First-place winner was Glimpse, which connects brands to vetted short-term rental properties for product placements. The startup received $20,000 in cash prizes plus in-kind legal services from IceMiller.
The other winners:
* Second place: Neurava ($15,000) – A detection device to give control back to patients with uncontrolled epilepsy with a warning of potential sudden unexpected death, a risk in epilepsy.
* Third place: BrainChild ($10,000) – A digital platform designed to provide a convenient approach for student innovators to build their entrepreneurial dream teams at their university.
* Fourth place: NeoNatura ($7,500) – A technology in development enabling rapid, easy and inexpensive preparation of water-soluble nanoemulsions with an essential oil.
* Fifth Place: Invoke Innovations ($5,000) – A device design that uses sensors to monitor workplace ergonomics and prevent injuries.
The competition began in October with 60 teams involving 132 students. The final competition was held virtually on April 24 due to the COVID-19 pandemic.
The Burton D. Morgan Business Model Competition has awarded $2 million in total cash prize money since its inception in 1987. In the past five years, three people taking part in the competition have been named to Forbes 30 under 30 list.
This year at TechCrunch Disrupt’s Startup Battlefield, two previous BMC competitors made it. Leo Aerospace made the top 20 and Omnivis came in second overall. Last year, three BMC finalists, Global Sign, FlykeART, and Snapwire, represented Purdue in the International Business Model Competition held in Provo, Utah, with FlykeART placing in the top 10.
Sponsors offering in-kind awards were Ice Miller LLP, Gutwein Law, When You Leave the Room, MHub Chicago, Purdue Railyard and MatchBOX co-working spaces and the Krannert School of Management.
About the Burton D. Morgan Center for Entrepreneurship
Discovery Park’s Burton D. Morgan Center for Entrepreneurship is Purdue University’s gateway for innovation and entrepreneurship on campus. It houses a number of programs and competitions for student and faculty entrepreneurs designed to encourage innovation and discover big ideas that have potential to benefit society. The Burton D. Morgan Center works closely with the Purdue Foundry and Purdue Ventures to enhance the university’s robust entrepreneurial ecosystem and to provide meaningful access to capital and talent for Purdue entrepreneurs. The center also houses the Certificate in Entrepreneurship and Innovation Program, which is administered through Purdue’s Office of the Provost, and is the primary vehicle for delivering entrepreneurship education to over 1,800 students across campus each year.
About Purdue University
Purdue University is a top public research institution developing practical solutions to today’s toughest challenges. Ranked the No. 6 Most Innovative University in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap at purdue.edu.
Writer: Chris Adam, 765-588-3341, firstname.lastname@example.org
Source: Arnold Chen, email@example.com