LOUISVILLE, Ky. (May 13, 2009)--Capping the University of Louisville’s most-successful year ever in business plan competitions, Entrepreneurship MBA students from the College of Business Forcht Center for Entrepreneurship tied and set records by placing two teams among the top four at the 26th annual Global Moot Corp Competition.

     Often called the “Super Bowl” of business plan competitions, Moot Corp is the oldest new venture competition in the world. Its 2009 field included 40 student teams from the finest MBA programs around the globe.  The UofL teams’ unprecedented performance set new standards for both UofL and Moot Corp.  Never before had a UofL team reached the finals, and only once in Moot Corp’s 26-year history had a university placed two teams in the finals.

     “Shocking, but not surprising,” said Prof. Van G.H. Clouse, director of the Entrepreneurship MBA program. “The results reflect the incredible effort these students put into their business plans and their skill in handling the pressures of real-world competition.” 
     The UofL teams won $3,000 each in prize monies, which they will use to further refine and research their business concepts as they prepare them for launch.  The awards boosted the total rewards earned by UofL students in business plan competitions this year to more than $100,000, another record for the college. Overall, five graduate teams from the UofL entrepreneurship program participated in 21 regional, national and international competitions during the 2008-09 academic year.
     “The entire university can share in the accomplishments of our students and faculty,” said College of Business Dean Charlie Moyer. “It’s another reason why we continue to be ranked among America’s finest entrepreneurship programs and why our role as an economic driver in the region is expanding.”
     After two days of competition at the University of Texas - Austin, the UofL teams— necoPlastics and Tetra One Source—were named second and third runners-up to Novophage Therapeutics, a team from Boston University and MIT.  First runner up was Tears for Life, a team from the University of Arkansas. 
     Novophage Therapeutics’ winning concept is a biological therapy that slows the onset of antibiotic resistance and increases the efficacy of antibiotics. The team received a first-place prize valued at $135,000, including $25,000 in cash, a $60,000 ad in Inc. Magazine, and in-kind professional services contributed by Moot Corp sponsors.  Tears for Life is developing a non-invasive test kit that will screen women for breast cancer using proteins found in tears. The team won $5,000 for its second-place finish.
     UofL’s necoPlastics is developing less-costly, patented technology that produces a recycled plastic resin capable of revolutionizing the plastics industry.  Team members include Whitney Austin, Charles Price, Nick Jacoby, Steve Flaherty and Jason Wade.  Tetra One Source is commercializing a patented formulation of environmentally friendly raw materials that bind to heavy metals in soil and liquids, effectively reducing their toxicity and radioactive nuclide levels. Team members are Abby Lovan and Daniel Johnsen.
     Both UofL teams also won “Best Presentation” awards in their respective first-round divisions. The teams were coached by Prof. Clouse and Entrepreneurship Executive-in-Residence Suzanne Bergmeister.
     In reaching the finals, the UofL students bested MBA teams from Australia, Canada, China, Columbia, France, Germany, Great Britain, Norway, Mexico, Thailand and 23 leading universities in the United States, including BYU, Carnegie Mellon, Northwestern and Michigan.  Teams must be invited to participate in Moot Corp or earn a bid by winning a qualifying competition. Tetra One Source earned its bid at the Georgia Bowl and necoPlastics at the Nebraska New World Ventures Competition.
     Several teams at Moot Corp also had Louisville connections.  Teams from Oregon, Arkansas, Kennesaw State, Queen’s University, University of Manitoba and UCal-Berkeley participated in the Brown-Forman Cardinal Challenge Business Plan Competition, a Moot Corp qualifying event hosted by the college’s Forcht Center for Entrepreneurship in February.
     For more information about the Entrepreneurship MBA and UofL business plan competition teams, visit Business.louisville.edu/eship.