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PRESS RELEASE / ANNOUNCEMENTS Tuesday, May 1, 2012

UCSB Technology Management Program Students Compete in the New Venture Competition

The UCSB Technology Management Program announced its New Venture Competition finalists this week.


Six teams, representing both graduate and undergraduate students, will compete for a number of cash and in-kind prizes to launch their ventures. The public is encouraged to attend the event on Wednesday, May 9th at 3:00pm at UCSB’s Corwin Pavilion, and can help decide the winner of the People’s Choice award.

“This year’s finalists are an impressive group of students from a number of academic areas. The business ideas are just as diverse. We had 140 competitors on 46 teams start the competition, and the businesses created by our six finalists use technologies such as cloud computing, mobile apps, ecommerce, social media, crowdfunding and home energy management,” said Mike Panesis, Program Manager and Coordinator of the UCSB’s Technology Management Program.

Bob York, Director of the Technology Management program added: “The ideas coming out of this year’s competition and the Technology Management Program have been amazing. We are really looking forward to seeing these businesses become part of the Santa Barbara business community. ” The Technology Management Program New Venture Competition is one of the longest running business competitions in California. The Semi-final New Venture Fair and Finals competitions have also become integral events in the local entrepreneurial business community.

This year’s New Venture Competition teams aPEEL Technology, AppScale, Birdeez, Brightblu, Gifiniti, and Speckle hope to join past winners of the competition, including Inogen, Phone Halo, Active Life Scientific, BioIQ and ClassWave, that have gone on to create successful Santa Barbara-based businesses.

In addition to the New Venture Competition finalists, TMP student teams competed in national business competition events. Paul Weitekamp and Spinnergy, a New Venture Competition Semi-finalist, advanced to the regional finals the U.S. Department of Energy’s First Look West Clean Energy competition and the California Dreamin’ Business Plan Competition at Chapman University. Also, New Venture Competition Semi-finalist Forget-Me-Not Sourcing competed in the Walmart Better Living Business Plan Challenge, making it to the National Semi-Finals.

About the UCSB Technology Management Program

UCSB’s Technology Management Program is the focal point for management training and entrepreneurial education within the College of Engineering. Their annual New Venture Competition, now in its 12th year, gives students a chance to learn business skills by developing a venture idea through the entrepreneurial process. For more information visit: www.tmp.ucsb.edu

About the New Venture Competition

The 13th Annual UC Santa Barbara New Venture Competition provides a hands-on opportunity for campus innovators to learn about successful venture creation, beginning with the evaluation of new business opportunities, working with potential clients/customers for market validation, crafting a concise oral pitch, drafting a compelling executive summary and financial projections, and learning how to raise necessary capital for launch. For more information about the competition and the teams involved, visit: www.tmp.ucsb.edu/nvc/

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