O2 Insights wins Fisher Business Plan Competition
O2 Insights, a business team offering an advanced oxygen sensor implant to help doctors diagnose wound infections and diseases with greater speed and ease than current techniques, won the 2010 Fisher Business Plan Competition.
Now in its ninth year, the competition attracted 90 teams with nearly 75 business cases submitted. First place winners received $15,000 in cash and up to $70,000 of in-kind services, such as legal advice, tax preparation, office space and business consultation. Second-place team was Bio-Aerogels and third-place went to Fung-Gone.
Top undergraduate entrepreneur award went to the team for Outcold, LLC. Finance majors Alexander Bishop and Jon Schick, who are both seniors pursuing entrepreneurship minors, also recently won the 2010 Tepper School of Business Venture Challenge (TVC). The Tepper Venture Challenge is an annual, undergraduate-only business plan competition held at Carnegie Mellon University in Pittsburgh.
“This year’s competition included some of the top business plans we have ever seen,” said Michael Camp, academic director for the Center for Entrepreneurship. “All of the winning teams represent viable investable business opportunities.”
The O2 Insights product, OxyPatch, is an implantable oxygen sensing probe, which produces a signal when it is stimulated by an external magnet imaging device. According to the team, “the product will enable doctors to better treat several major diseases including cancer, vascular diseases and organ transplants.”
The team members are: Samit Gupta, a PhD candidate in biomedical engineering; Jhovary Ruiz, a computer science major pursuing an entrepreneurship minor, Michael Shaw and Robert Lawrence Rushenberg, both Fisher MBA candidates; and Ziad Sankari, a graduate student in biomedical engineering.
Second-place winner Bio-Aerogels’ product is a targeted drug delivery system that can help pharmaceutical companies develop better cancer therapies and deliver better chemotherapies to patients. Bio-Aerogels’ team members Rakesh Dhaval, Melissa Vargo, Jo Irwan, Marsel Tadger and Brad Haberman are all students in the Working Professional MBA program.
FungGone team's presented a bio-based fungicide for the agricultural and farming industry offering an alternative to chemical-based products. The team members are Venkatesh Ganapathy, Adam Tornes, Brian Kindinger, Jason Jones and Yianni Lagos, all Fisher MBA candidates.
To learn more about the Fisher Business Plan Competition visit the Center for Entrepreneurship's website.