Venture Labs Competition Global Champion Closes the NASDAQ Stock Market
May 25, 2010
AUSTIN, Texas — Rob Adams, director of the Venture Labs Investment Competition, formerly Global Moot Corp, at The University of Texas at Austin, and the winners of the 2010 Venture Lab Investment Competition will close the NASDAQ Stock Market on Friday, June 11. Adams will do the honors along with the BiologicsMD team from the University of Arkansas. BiologicsMD won a $135,000 prize package for being named the Venture Lab Investment Competition Global Champion on May 8.
BiologicsMD holds the exclusive worldwide license to a new prescription osteoporosis solution, OsteoFlor™, a unique patent-pending compound that binds to bone and stimulates new bone growth. Team members are Robyn Goforth, Paul Mlakar Jr., Misty Stevens and Michael Thomas. Visit www.biologicsmd.com for more information.
"The national exposure of opening the NASDAQ Stock Market further enhances the reputation of the winner and adds tremendously to the excitement of being named the Global Champion," Adams said.
This year, 39 teams from universities around the world competed. The teams represented colleges from the leading Master of Business Administration (MBA) programs in 12 countries with seven universities fielding two teams.
The Venture Labs Investment Competition parallels the process of entrepreneurs raising startup funding. More than 100 venture capitalists, entrepreneurs, attorneys and CEOs judged the teams over the three-day competition. About half of each year's teams go on to start their ventures.
To view the ceremony at 3:50 p.m. EDT, visit the NASDAQ Market Open webcam. The ceremony is live and not archived.
Adams also announced that 2006 Texas Moot Corp Competition winners Daniel Nelson and Robert Reeves made a substantial pledge to the Venture Labs Investment Competition at the McCombs School of Business, The University of Texas at Austin. Nelson and Reeves cofounded Phurnace Software while they were students. BMC Software, a Houston-based firm, purchased Phurnace Software in January 2010.
Venture Labs Investment Competition
Venture Labs Investment Competition — The Super Bowl of Investment Competition (formerly Global Moot Corp) is the premier world-wide investment competition hosted annually at The University of Texas at Austin. Begun at The University of Texas at Austin by MBA students in 1984, the competition is the oldest new venture competition in the world, providing graduate student teams with a chance to simulate the process of raising venture capital. Visit Venture Labs Investment Competition for more information, including a list of world-wide ventures that have started out of the contest.
For more information, contact: Ann Whitt, Red McCombs School of Business, 512-232-6597; Gayle Hight, Red McCombs School of Business, 512-475-6423; Rob Adams, director of Venture Labs Investment Competition, 512-633-5955.