NEW YORK, April 8 (AScribe Newswire) -- Columbia Business School announced today the winners of its Ninth Annual A. Lorne Weil Outrageous Business Plan Competition. Chosen from a record 46 submissions, the title of Most Outrageous Business Venture-accompanied by a $4,575 prize-was awarded to Geoffrey Reed '09 and Eric Chessin '09 for Bluepak, a system by which local pharmacies can package all of an individual's prescription drugs in a single, easy-to-use package, with the goal of increasing prescription compliance.
The competition, organized by the Columbia Entrepreneurs Organization and the Entrepreneurship Program, encourages students to develop and present creative entrepreneurial ideas that are sufficiently ambitious in scope and scale to be considered "outrageous." The judges awarded funding to four additional ventures based on their ambition, innovation, creativity and persuasiveness:
- Second Prize ($3,775): Jennifer Wright '09 (EMBA) and William Walsh, for Environmentally Conscious Organization Inc. (e.c.o.), a design, licensing, manufacturing and subcontract management firm dedicated to improving outmoded, outdated and wasteful food packaging. The group is currently marketing its first product, the "Green Box" (United States Patent 7,051,919); a pizza box manufactured from 100 percent recycled material that breaks down easily into convenient serving plates and a handy storage container that fits neatly into the refrigerator and into a standard-sized trash can.
- Third Prize ($1,900): Aimthy Thoumong '09 (EMBA) and Dr. Sanjay Goel, for healthEnkoi, an online platform that connects consumers of health care across the world to the power and utility of second medical opinions via a global health care provider network.
- Fourth Prize ($1,850): Anna Pakman '09, Howard Renensland and Mitch Marovitz for [with]tv, a television channel dedicated to the views and stories of people with disabilities and their friends and families.
- Fifth Prize ($1,450): Sree Vijaykumar '09, Vikas Goel and Vinit Srivastava, for IndiaRetailCentral, an online portal serving the Indian retail industry comprising consumers, retailers, professionals and suppliers.
The "Most Outrageous Elevator Pitch" awar d, worth $500, went to Sonja Kosman '08, Adam Birnbaum '08 and Nir Bruner '08 for their submission, Turn Off, Inc., which will bring to market a drug that temporarily halts the production of pheromones, temporarily stopping sexual arousal.
To enter the competition, teams comprised of at least one Columbia MBA or EMBA student, submit an executive summary of their business plan and tape a two-minute elevator pitch. (Watch pitches at http://puck.gsb.columbia.edu:8080/ramgen/video/08s/Elevator08.rv). A panel of judges, comprised of executives from venture capital firms as well as several entrepreneurs who developed their own successful ventures while students at Columbia Business School, evaluated the pitches and narrowed the field down to five teams. In the final round of competition, each team delivered a formal 10 minute presentation to the judges and the audience. Based on these presentations, the judges decided how much money they would award each venture.
Students typically use their prize money to develop their businesses upon graduation. Last year's grand prize was awarded to Michael Dwork '07 for Verterra, a line of disposable plates, cups and bowls that are organic and biodegradable.
About the Entrepreneurship Program at Columbia Business
School
The Entrepreneurship Program aims to create a community of business practitioners with a lifelong commitment to achieving social and economic progress through entrepreneurship. Entrepreneurship is integrated throughout the core MBA curriculum, crossing all disciplines and touching all students. For students interested in launching their own ventures, the School offers a comprehensive program of specialized courses, labs, workshops and funding opportunities. For more information, visit http://www4.gsb.columbia.edu/topics/entrepreneurship .
About Columbia Entrepreneurs Organization
Columbia Entrepreneurs Organization (CEO) brings students together with some of the most successful entrepreneurs and innovators. Lectures, panel discussions and interactive workshops offer unique insight and connections to the world of venturing. For more information, visit http://www0.gsb.columbia.edu/students/organizations/ceo/ .
About Columbia Business School
Led by Dean R. Glenn Hubbard, the Russell L. Carson Professor of Finance and Economics, Columbia Business School is at the forefront of management education for a rapidly changing world. The school's cutting-edge curriculum bridges academic theory and practice, equipping students with an entrepreneurial mindset to recognize and capture opportunity in a competitive business environment. Beyond academic rigor and teaching excellence, the school offers programs that are designed to give students practical experience making decisions in real-world environments. The school offers MBA and Executive MBA (EMBA) degrees, as well as non-degree Executive Education programs. For more information, visit http://www.gsb.columbia.edu .
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CONTACT: Keshia Mark, 212-854-2747 or klm74@columbia.edu
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