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FOR IMMEDIATE RELEASE
May 4, 2006    #086
Contact: Wandra Brooks Green
(816) 235-1601

Tomorrow’s Leaders Awarded in New Venture Challenge Competition

The University of Missouri-Kansas City’s (UMKC) Institute of Entrepreneurship and Innovation (IEI) announced the winners of its 2nd annual New Venture Challenge Competition on Saturday, April 22. IEI is part of the UMKC Henry W. Bloch School of Business and Public Administration.

The four winning teams were selected from 55 students of the Bloch School’s Executive Masters of Business Administration (EMBA) and Masters of Business Administration (MBA) programs, and the UMKC School of Law. The students were divided into 12 teams, representing intellectual properties from Midwest Research Institute; Hallmark; Kansas University Medical Center; sCOMM; Mobile Media Technologies, LLC; BOC Group; Jay Fine; and Brown Medical Industries.

In January, students chose one property to manage and spent the next several months assessing potential risks, conducting market opportunity analyses and sales strategies, examining financial models, and designing a business concept plan. The plans were presented to 40 judges from Kansas City’s business and non-profit community.

“The goal of the competition,” said Michael Song, executive director of the Institute, “is first to provide students with experiential learning opportunities that help them apply their new knowledge about business plans, compiling market and industry data, and the commercial potential of intellectual property.”

The results of the competition are:

First place – EMBA students Michael Iannelli, Dev Malik, Angelique Lower, and Donald Simmons represented a BOC Group venture that patented a process to eliminate trans-fats, lower saturated fats and reduce costs for the baking industry.

Second place – EMBA students Solomon Melesse, Willy Pegues, Chung-Mai Tseng, and Stanley Beatty represented sCOMM, Inc., for its device to improve communication between the deaf and hearing.

Third place – MBA students Mike Zimmerman, Guy Fish, Kevin Zeller, Daniel Dasani, and Mike Wilson represented Hallmark, for the solution to increase traffic and sales for Hallmark’s Gold Crown Stores.

Fourth place –EMBA students Janet Kauk, Deanne Bronaugh and Kelly Tuttle represented MRI for CheckEZ, a noninvasive device that monitors blood glucose levels for type I diabetes.

“The New Venture Challenge Competition brings together business, technology and education under the energy and innovative spirit of the Institute for Entrepreneurship and Innovation,” said Song.

The Institute for Entrepreneurship and Innovation at the Bloch School provides an educational experience that combines the best in academic programs with exciting entrepreneurial experiences, connecting students to business leaders and scholars, and providing hands-on experiences in visualizing and designing new enterprises.

The Henry W. Bloch School of Business and Public Administration is part of the University of Missouri-Kansas City, the only major teaching and research university in Kansas City. Established in 1953, the Bloch School was endowed in 1988 by Henry Bloch. It is the only school of business and public administration in the Kansas City area that has earned international accreditation by AACSB International, which accredits the top 15 percent of business schools, and the National Association of Schools of Public Affairs and Administration.

The University of Missouri-Kansas City (UMKC), one of four University of Missouri campuses, is a public university serving more than 14,000 undergraduate, graduate and professional students. UMKC engages with the community and economy based on a three-part mission: visual and performing arts, health sciences, and urban affairs. # # #

This information is available to people with speech or hearing impairments by calling Relay Missouri at (800) 735-2966 (TT) or (800) 735-2466 (voice).

 

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