ParadigMed, a University of Arkansas startup formed in Carol Reeves’ New Venture Development graduate course at the Walton Business College, won the Global Award at the LES Foundation International Graduate Student Business Plan Competition in Seattle by finishing second place overall.
ParadigMed has developed Circumex, a “patent-pending adult male circumcision device that offers a cost-effective, disposable, non-surgical alternative to current circumcision methods and can be used in an outpatient setting. Circumex addresses challenges associated with reducing the heterosexual transmission rate of HIV globally, primarily in Africa.”
According to the UA, the LES competition ”focuses on business plans that not only hinge on groundbreaking technologies and services, but that also emphasize intellectual property strategies that support business goals. The LES Foundation, a foundation of the Licensing Executives Society Inc., received nearly 60 business plan submissions from throughout the United States and Canada, as well as from Australia, Hong Kong, Italy, Korea, Nigeria, Pakistan, Singapore, South Africa, and Thailand.”
ParadigMed, led by Stephen Kayode and Tara Mink, won the Global Award at LES and $5,000 for its second place finish over the weekend. Empire Robotics of Cornell University won the grand prize, and placing second with ParadigMed was MRS from the Universita del Salento, Italy.
Empire is developing a “platform robotics technology through its first product, a universal robot gripper.” MRS has developed technology to “increase the efficiency of PVD (Physical Vapour Deposition) processes used in the production of microchips, micro electro-mechanical systems, solar cells and other hi-tech devices.”
The Global Award at LES “is presented annually to the team whose plan best deals with intellectual property rights and their use in the global business environment,” according to the UA.
Earlier this year, ParadigMed made the finals of the prestigious Spirit of Enterprise Graduate Business Competition at the University of Cincinnati and the IBK Capital-Ivey Business Plan Competition at the University of Western Ontario. Business-plan teams from the UA have been experiencing success at national competitions and positioning themselves for success in the real business world.
Add ParadigMed to that list.
It’s Friday. Got me a pocket full a’change……and INOV8 Links. Have a good weekend and enjoy…
- The 89th General Assembly officially adjourned today, and one piece of legislation it saw signed into law was the PACE Initiative, PACE standing for Property Accessed Clean Energy. It authorizes the creation of energy improvement districts to fund loans for energy efficiency, renewable energy and water conservation improvements. Here’s more from the Arkansas Advanced Energy Association.
- Speaking of, mark your calendars — the AAEA has announced Colorado Gov. Bill Ritter as the keynoter speaker at its 2013 annual conference on Oct. 1. Get all the details, including an agenda and info on sponsorships, exhibiting or just attending, right here.
- The Little Rock Film Festival opens this weekend and it’s bringing food trucks with it. You can’t beat that with a plastic fork. We’ve got a front row view, and the streets of downtown near the entrance to the River Market are filling up. The action continues over the weekend. More info here.
- The UA’s Short Takes video series this week features a young man who, unfortunately for us slackers, sets a high bar. Eighteen-year-old Raymond Walter is preparing for his doctoral fellowship after finishing up a triple major in physics, math and economics. And he’s overcome some obstacles to get where he is. Well done, sir.
The fifth-annual Donald W. Reynolds Tri-State Governor’s Cup runs next week in Las Vegas, and you can watch it live care of Connect Arkansas TV.
The event will be held Monday through Wednesday, and the streaming will begin on Tuesday, May 21, at 6:30 p.m. You can watch right here. Teams, including the top two graduate and undergrad winners from the Arkansas Gov’s Cup — Picasolar, HomeDx, Catch-22 and eScout, will be competing for $118,000 in cash prizes.
The Tri-State Governor’s Cup, of course, pits the state winners of DWR Governor’s Cup business-plan competitions from Arkansas, Oklahoma and Nevada. (Why those three states, you ask? Well, the old Donrey media empire — Donald Reynolds — was based primarily in Arkansas, Oklahoma and Nevada. Donrey is now known as Stephens Media, by the way…)
The Gov’s Cup was founded by Arkansas Capital Corp. in 2001 and expanded to Oklahoma and Nevada in 2004 thanks to a major grant from the Donald W. Reynolds Foundation, headquartered in Vegas.
The top two teams on the graduate and undergraduate levels from each state advance to Tri-State, where Arkansas teams historically have fared well. This year, the Arkansas representatives are Picasolar (first place) and HomeDx from the UA on the graduate level, and undergrad teams Catch-22 (first place) from UALR and eScout from Ouachita.
Picasolar, on quite a run this spring, has developed a technology that increases the efficiency of solar cells. HomeDx makes over-the-counter tests for food allergies and STDs; Catch-22 wants to partner with fishermen in the Mississippi River basin to turn the invasive Asian carp into liquid organic fertilizer, and eScout is a video scouting service for college soccer coaches.
All represent great ideas and great Arkansas teams. Good luck to all of ‘em. Remember, tune in next week, Tuesday, 6:30 p.m., Connect Arkansas TV or from the Tri-State site.