AUSTIN, Texas—MacuCLEAR Corporation, a pharmaceutical company that has developed a treatment for age-related macular degeneration (AMD), the leading cause of blindness in people over the age of 50, defeated three teams to win the Texas round of the Moot Corp® Competition, the new venture competition hosted annually at The University of Texas at Austin's McCombs School of Business.
"The judges had a tough decision. All four teams represented companies with viable investment potential," said Rob Adams, director of the Moot Corp Program.
As winner of the Texas round, MacuCLEAR qualifies to receive a year's office space in the Austin Technology Incubator and advancement to the Global Moot Corp Competition in Austin this May.
"Participating in the Texas Moot Corp Competition has been a great experience," said Doug Baum, executive vice president of MacuCLEAR. "We will take the lessons we have learned forward to help us move closer to gaining funding."
Started by Master of Business Administration (MBA) students at The University of Texas at Austin in 1984, the Moot Corp Competition is the oldest new venture competition in the world, and continues to provide MBA student teams with a chance to simulate the process of raising venture capital.