AUSTIN, Texas—A noninvasive diagnostic device claimed the top prize at the 23rd annual Global MOOT CORP® Competition at The University of Texas at Austin May 5-6.
NeuroLife Noninvasive Solutions, created by a team of MBA students from Carnegie Mellon University, beat out a wide range of business ideas that included a martial arts TV channel, an environmentally friendly rat-control device and a cattle inventory system, along with other medical products in the areas of multiple sclerosis, viral infections and skin cancer.
For more information, visit the MOOT CORP® Competition Web site.
NeuroLife will attempt to commercialize the world’s first noninvasive intracranial pressure (ICP) diagnostic device, designed to be a faster, safer and easier way to measure ICP through the patient’s eye.
The prize package worth $100,000 is composed of $25,000 in cash and $75,000 in business services, including consulting from the McCombs School of Business entrepreneurship faculty and patent work from Ropes and Gray. The Carnegie Mellon team will also open the NASDAQ Stock Market Aug. 11.
This year, 33 teams from Argentina, Australia, Brazil, Canada, China, France, Germany, Great Britain, Mexico, Norway, Thailand and the United States gathered in Austin.
Started by 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 business world process of raising venture capital.