The Global Venture Labs Investment Competition (Global VLIC), the longest-running investment competition for graduate student entrepreneurs, will be held May 2-5 at The University of Texas at Austin. The "Super Bowl of business plan competitions," this year's Global VLIC features more than 40 teams that gained eligibility by winning a regional new venture competition in the U.S. or internationally.
"We've chosen 'Investor-Ready' as the theme for the Global VLIC because our competitors, who have all won preliminary venture competitions, all bring innovative business plans ready to be funded." said Rob Adams, director of Texas Venture Labs, which hosts Global VLIC. "This event brings together the business community, campus entrepreneurial initiatives and students from around the world, all focusing on idea pitches for successful companies."
Teams participating in the three-day event this year will compete for the Global VLIC grand prize: a $135,000 package including Austin Technology Incubator office space, mentoring, and consulting services; a full-page ad in Inc. magazine; consulting with the McCombs entrepreneurship faculty worth $25,000; and cash. Smaller prizes include the new $10,000 Wells Fargo Clean Energy prize for the best "green" startup.
Competitors include teams from 13 countries, including the U.S., Thailand, Norway, Germany and Brazil. Startup ideas being pitched include agricultural products, medical devices, retail concepts, educational concepts, energy-related concepts and technology concepts, including mobile- and Internet-based technologies.
On Thursday afternoon and evening during the competition, the TVL Expo showcase will be held. The TVL Expo features new ventures ready for commercialization and funding from across the university, with representation from the three primary commercialization channels in the university system: Austin Technology Incubator, Office of Technology Commercialization and Texas Venture Labs.
For more information on Global VLIC, including schedule and registration details, visit Texas Venture Labs.
Texas Venture Labs is an interdisciplinary education and research initiative at The University of Texas at Austin McCombs School of Business. It was created to support entrepreneurship, innovation and company formation while providing a unique and directly applicable educational experience for students and a research environment for faculty. Venture Labs promotes new venture creation at the university through education and mentoring, market and business plan validation, team-building and networking, and direct links to resources and funding.