UC Berkeley Students Given 3 Minutes To Solve Society's Problems

Unlike most business plan competitions, the Venture Lab Competition (hosted at UC Berkeley in collaboration with the Center for Entrepreneurship & Technology) does not require students to submit a traditional business plan. Instead, teams submit more concise material focused on clearly defining the problem, solution, and market size, as well as a report on the venture's current momentum (i.e. a prototype or customers). Semifinalists for the competition quickly present these points to a panel consisting of seven entrepreneurs, venture capitalists and industry experts.

(watch a full video of the competition here)

According to a press release issued just days ago, the winners of the competition touch a wide swath of industries. However, there isn't much much detail available about the teams and their respective plans. We'll be reaching out to CET and the winners of the competition for more information about their winning business plans. For now, here are the brief descriptions of the ventures:

Online apparel retailer MODISTA, led by founders Arlo Faria and AJ Shankar, increases browsing potential in a unique UI powered by specialized image similarity and machine learning algorithms to allow consumers to browse large collections of apparel items, using their visual intuition, just as they would in a traditional store.

Creators of E&M Devices, Eri Takahashi, Applied Science & Technology graduate student and Matt Senesky, PhD, EECS, consulting with Prof. Albert Pisano of ME, designed an electromagnetic energy harvestor to use engine vibrations to power sensor networks in automobiles.

GreenLight Energy founders Sonesh Surana, and Jason Stauth, both EECS graduate students, with EECS Professor Eric Brewer, PI, developed a charge controller for standalone photovoltaic (PV) systems that interface PV panels to battery energy storage units, for application in rural areas where ties to reliable electrical grids are not available.

Nano Precision Medical is comprised of bioengineering graduate students Adam Mendelsohn, Kayte Fischer and Lily Peng, with Professor Tejal Desai, Bioengineering, PI. They devised a sub-cutaneously implantable drug-delivery device which allows the long-term release of molecules such as interferon, used in the treatment of hepatitis C virus (HCV).

About the Center for Entrepreneurship & Technology

The Center for Entrepreneurship & Technology (CET) is a CITRIS-affiliated academic center and industry partnership within UC Berkeley's College of Engineering. Its mission is to equip engineers and scientists with the skills to lead, innovate, and commercialize technology in the global economy. Through teaching, programs, network building and research interlaced with strong industry participation, the Center teaches entrepreneurship as it relates to individual venture creation and to innovation within existing entities.

(source: PRWeb.com)

Here is the full list of competing semifinalists:

1. AC (Adaptive Controls)
2. AdCommerce
3. CellScope
4. E&M Devices WINNER!
5. Free Power Solutions
6. Giga Wave
7. GreenLight Energy WINNER!
8. Integrated Diagnostics
9. Marko
10. Modista WINNER!
11. Nano Precision Medical WINNER!
12. Ophtherix Finalist
13. Optillel Solutions, Inc.
14. Rixty Finalist
15. SidKar Technologies
16. Surreal Games
17. WeMakeItSafer
18. 1-800-TAXI-USA

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