Winners of the 2008 Global Moot Corp Competition hosted by The University of Texas at Austin will open the NASDAQ stock market Friday, Aug. 15 in New York City at 9:30 a.m. EDT.
Rob Adams, director of the Moot Corp program and management lecturer at the McCombs School of Business, will do the honors along with NeuroBank, the team of Master of Business Administration (MBA) students from Carnegie Mellon University which won the global champion prize May 5 in Austin.
NeuroBank has developed a breakthrough proprietary technology for minimally invasive extraction, isolation, expansion and cryopreservation of adult neural stem cells. The company received a package worth $100,000, which consists of a $25,000 cash prize, access to the McCombs School's entrepreneurial faculty to aid in fundraising from institutional sources, the Austin Technology Incubator Launch Package and the prosecution of the first American patent by Ropes and Gray.
Photographs of the NASDAQ opening are available to the media online shortly after the opening.
"The national exposure of opening the NASDAQ further enhances the reputation of the winner and adds tremendously to the excitement of being named the global champion," Adams said.
Started at The University of Texas at Austin by MBA students in 1984, the Moot Corp competition is the oldest and largest new venture competition in the world, and it gives MBA student teams a chance to simulate the process of raising venture capital. This year, 37 teams from universities around the world traveled to Austin for the competition.