Student Teams from 12 Countries Will Compete in Annual Global Venture Labs Investment Competition

April 28, 2014

AUSTIN, Texas — The Global Venture Labs Investment Competition (Global VLIC), the longest-running investment competition for graduate student entrepreneurs, takes place May 1-3 at the AT&T Executive Education and Conference Center at The University of Texas at Austin.

Often referred to as the "Super Bowl of world business plan competitions," this year’s Global VLIC features 38 teams that gained admittance by either winning a qualifying U.S. or international competition or via the new open berth system.

Half of this year’s teams come from outside the U.S., representing Australia, Brazil, Canada, China, Colombia, France, Germany, Jamaica, Norway, Sweden and Thailand. Teams from the U.S. represent Harvard University, Carnegie Mellon University, the Massachusetts Institute of Technology and The University of Texas at Austin. The startups span industries as diverse as software, energy, life sciences, consumer packaged goods and manufacturing.

Teams participating in this year’s three-day event will compete for the title of Global Champion, which includes $78,000 in cash prizes, the opportunity to close the NASDAQ in Times Square, the Austin Technology Incubator launch package valued at $25,000 and consulting time with the director and assistant director of Jon Brumley Texas Venture Labs. In addition to the Global VLIC, there are several opportunities for teams to compete and showcase their ventures over the three-day event:

Venture Expo — “Investor-Ready” startups from The University of Texas at Austin and Central Texas. The startups presenting are alumni or part of the current cohort of UT-based startup accelerator Jon Brumely Texas Venture Labs.

Venture Showcase — Forty teams of competitors from around the world display their ventures at a trade-show-style event. TVL companies will also be exhibiting.

Wild Card Challenge — Eight runners-up in the Opening Round compete in two divisions for two wild card slots into the semi-finals.

Wells Fargo Clean Energy Challenge — Winners in the Opening Round clean energy divisions compete for the $20,000 Wells Fargo Clean Energy Prize.

Nemec Elevator Challenge — For the first time ever, 24 teams will have the opportunity to give the elevator pitch for their business while riding the actual elevator to the top of the iconic UT Austin Tower.

For more information on Global VLIC, including schedule and registration details, visit the competition’s website.

For more information, contact: Samantha Harris, Red McCombs School of Business, 512-471-6746;  Robert J Adams Jr, Red McCombs School of Business, 512-471-5289.