BiologicsMD, a team from the University of Arkansas that is developing a new prescription medicine for the treatment of osteoporosis, has been named the Global Champion in the Global Moot Corp competition.
BiologicsMD is developing OsteoFlorTM, a new prescription medicine for the treatment of osteoporosis, based on research developed at the University of Arkansas. OsteoFlorTM binds directly to the bone, nearly tripling new bone growth.
Paul Mlakar, president of BiologicsMD, said "It's a great honor to have won this prestigious competition, and we look forward to following the path of other winners in launching our company."
In addition to a grand prize package worth $135,000, BiologicsMD will be present with the Global Moot Corp team to close the NASDAQ market on Friday, June 11 in Times Square, New York City.
In addition to announcing its Global Champion, the competition also announced it is changing its name to the "Venture Labs Investment Competition" and repositioning itself as "The Super Bowl of Investment Competition." It will continue to use its former name, "Moot Corp," as part of its tagline for the foreseeable future.
Rob Adams, director of the Venture Labs Investment Competition, explained the renaming as "reflective of the true nature of what Moot Corp had turned into, a forum where MBAs from around the world launch their ventures by raising capital. This competition is far from Moot, and parallels the real-world process and realities of developing and launching a venture-backed company. This renaming and repositioning aligns the competition with that mission."
This year's competition involved 40 teams from 12 countries and included categories such as clean energy, biotechnology, information technology and consumer products. Teams must have won a Venture Labs Investment regional feeder competition to make to the finals. These teams presented a minimum of three times throughout the competition, always to a new set of judges, as the teams were whittled down to the last four for the finals.
Venture Labs Investment Competition, The Super Bowl of Investment Competition (formerly Moot Corp), is the premier world-wide investment competition hosted annually at The University of Texas at Austin.