The newly redesigned Tulane Business Model Competition, organized by Tulane Entrepreneurs Association (TEA), hosted its semifinalist pitches yesterday (March 25) during New Orleans Entrepreneur Week (NOEW) in Gallier Hall.
A mix of food, education, biotech and other entrepreneurs took to the stage vying for a shot at the final round. Semifinalists included: ComeFail, CCC, Fleur de Latkes, InVision Biomedical, Million Dollar Scholar, Threadix, Tympanogen, and US Fresh Cane.
The completely redesigned competition aims to better reward the practical aspects of what make startups successful – the ability to rapidly adapt to customers’ needs. Entrepreneurs pitched their startups along with what pivots they made along the way using the business model canvas.
At the Tulane and Entrepreneurship reception following the pitches, TEA President Adrian Mendez announced the three companies advancing to the final round: Million Dollar Scholar, InVision Biomedcial and Tympanogen.
All three finalists were granted $2,000 and an opportunity to present their business models at Tulane University on Friday, April 11, 2014. The grand prize winner will receive $25,000 and enter the International Business Model Competition as a semifinalist. The runner up will receive $10,000.
Million Dollar Scholar is an education technology and services venture that addresses higher education affordability by providing students with an online platform to learn how to become successful in the scholarship application process.
InVision Biomedical aims to take existing innovative procedures and implement novel medical devices, expanding patient safety and hospital cost efficiency. Their flagship product, EZ-View, is designed to provide critical care physicians with a safe, inexpensive method for performing surgical procedures such as the tracheostomy while eliminating those inherent complications.
Tympanogen is dedicated to resolving a widespread clinical issue. Their team of engineers and physicians are commercializing a gel patch they developed at Tulane University, called Perf-Fix™, for non-surgical repair of these chronic tympanic membrane perforations.
“The competition has always been a flagship event that supports local– now regional– entrepreneurs and programs,” said Mendez. “As the program grows, we hope to continue to motivate and inspire students to be on the forefront of entrepreneurial activity with the resources we provide.”
Follow along with the Business Model Competition on Facebook at facebook.com/tulanebusinessmodelcompetition and on Twitter at twitter.com/tulanebmc. TEA can be found at facebook.com/TulaneTEA. More information is available at tulane2014.istart.org.