2014 Ohio State University Business Plan Competition
The TEC Institute - Center for Entrepreneurship
1st Place – KAir Battery
KAir Battery has identified a major need across the entire energy industry. The industry needs large-scale batteries that are both energy efficient and cost effective in order to further implement smart grid technology and renewable energy sources. KAir provides highly efficient and cost effective large-scale stationary potassium air batteries. These batteries store generated electricity and return an unprecedented 98% of the input energy. KAir's batteries are 78% cheaper to produce compared to the competitors. In addition, unlike competing products, KAir’s batteries produce non-toxic byproducts at the end of their lifetime. KAir is a battery company KAiring about the future of energy and the environment. The future of energy is here. Do you KAir?
2nd Place – Panacea
The k-ras protein is the most highly sought-after target in cancer research, due to its widespread prevalence (mutated in 25% of all cancers), the highly aggressive nature of k-ras mutated cancers and the ineffectiveness of current treatments. Extensive research efforts spanning decades failed to develop an effective treatment for these deadly cancers, due to the challenge of inhibiting the complex protein interactions involved in k-ras activity. Panacea’s Chemobody drug discovery platform overcomes this challenge via a unique, proprietary and patented method, combining the advantages of small molecule therapeutics and biologics without the drawbacks of either. The potent k-ras Chemobody developed from this platform inhibits k-ras activity, and has the potential to treat patients suffering from highly aggressive k-ras mutated cancers such as pancreatic, colorectal, and lung cancers. Oncologists validated the potential of k-ras Chemobody potential to increase quality of life and extend survival times for millions of cancer patients. With an addressable market size of $12 billion in the global oncology market, pharmaceutical companies revealed high enthusiasm for the k-ras Chemobody and potential partnership with Panacea for drug development, licensing or buying the technology outright after research milestones are met.
3rd Place - TransDX
TransDX is a personalized medicine company focused on identifying, acquiring, validating, and commercializing unique medical diagnostics. These diagnostics provide essential information that helps guide physicians and patients to optimal treatment decisions with reduced costs. The mission of the company is to create a world in which all patients have access to and receive care individually tailored to their healthcare needs. TransDX’s first product is a medical assay capable of determining whether an individual breast cancer patient will benefit from an expensive and arduous course of taxane chemotherapy. Effective on less than half of patients, taxanes represent a class of chemotherapy drugs that have been the cornerstone of breast cancer treatment for decades because they are incredibly effective in those patients. Our test will improve the overall effectiveness of taxane therapy by identifying the approximately 60% of node positive breast cancer tumors that will not respond to or benefit from taxanes as currently administered, thereby eliminating unnecessary patient exposure to chemotherapeutic agents, expediting alternative therapy that may prove more effective, and reducing unnecessary costs to the healthcare system. If all breast cancer patients being considered for chemotherapy were to receive this test, the U.S. healthcare system could save $1.9 billion in inappropriate taxane treatment each year.
1st Place – Juiceboxx
Juiceboxx is a protective case for your MacBook charger that features a clean, simple aesthetic with a unique design that guides the cord into exiting the power supply with a gentle curve, significantly reducing areas of high-stress. In addition to significantly reducing the probability of cord failure, the case will be manufactured in an array of color combinations to offer the user with unique identity apart from the standard MacBook user. Juiceboxx launched their Kickstarter campaign on April 6th, seeking capital for production costs.
2nd Place – Stacker
Stacker’s mission is to make it easier for busy students to connect with one another by providing straightforward and secure schedule management tools. These tools allow them to reach their full potential and achieve as much as possible, every hour of every day. Stacker provides convenient scheduling functionality that current competitors do not offer for mobile devices. Not only does the system provide value for students by allowing easy importing of class schedules, but it also provides value to the universities through data that gives insights into how students spend their time, when they are busiest, and when planned events would be most convenient. Created by students, for students, Stacker makes stressful student lives just a bit less stressful.
3rd Place – Soundscape
Soundscape specializes in providing innovative products that add value to the electronics you use everyday. Our first product solves a problem many people have with their earphones while traveling — they have to turn up their music to an uncomfortable level in order to block outside noise. The options available to them are limited: they can either continue to fight the noise around them by blasting their music, buy a relatively expensive pair of inner earphones, or buy a very expensive set of noise canceling headphones. These limited options led us to create a more attractive option: an adapter that converts regular earphones to inner ear noise-isolating earphones. This allows people to escape the noise around them without having to buy a new pair of expensive earphones. So, save yourself from having to buy new pair of earphones, and give the pair you already own the sound isolating function that you desire!
The Spirit of the Competition
The Ohio State Business Plan Competition purports to stimulate and nourish the entrepreneurial spirit in any full-time or part-time Ohio State University student. In particular, this competition seeks to:
2009 Winning Team
2007 Winning Team
To provide a relatively level “playing field” for student teams, the directors of the Ohio State Business Plan Competition and the Center for Entrepreneurship at the Fisher College of Business have developed the following set of rules that all participating teams are expected to satisfy.
At the same time, the directors recognize that no set of rules, no matter how thorough or carefully developed, can ever cover all circumstances. Accordingly, all teams are expected to abide by the specific rules enumerated below as well as the overall spirit of the competition. The directors reserve the right to disqualify any team that violates the rules, regulations, or the spirit of the competition.
Round 1: Conceptual Business Case Round
Upon registering for the competition, teams begin the competition by submitting answers online to questions pertaining to your business case that clearly explain the business ideas and market opportunities for their given products or services. Judges evaluate the cases and select the top business ideas based on specific investment criteria to advance to the second round.
Round 2: Business Plan Round
During this round, the teams test viability, perform market analysis, identify customers, prepare financial projections, and write a ten page maximum business plan for their ideas. After teams submit their business plans, judges review the plans and select the finalist based on the overall quality of the opportunity, management team strength, market dynamic, and other investment criteria.
Round 3: The Final Event & Awards Reception
The finalists present their business plans to a panel of expert judges (entrepreneurs, venture capitalists, private investors, faculty, and leading consultants) during the final event. Judges select the first, second, and third-place winner. The awards reception follows on the evening of the final competition and the winners are announced at that time. Both undergraduate and graduate teams will be available during the reception to allow the opportunity for those interested to connect with them.
View a slideshow from the 2010 Calfee, Halter & Griswold Awards Banquet.