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Aurora Biofuels, a Berkeley-based team whose technology
promises to make bio-diesel a mainstream energy source,
won the second global Intel+UC Berkeley Technology Entrepreneurship
Challenge on Thursday, October 26.
Hosted by the Lester Center at the Haas School and
sponsored by Intel, the global business plan competition
invited entrepreneurial teams from 19 Arab, Chinese,
Indian, Mexican, Russian, East European, Brazilian,
Singaporean, and US universities.
The competition brings together the best research
institutions around the world in partnership with regional
business plan competitions to find teams and technologies
with the potential for positive global impact.
Aurora Biofuels won the grand prize
of $25,000 for presenting technology that confronts
consumer demand for green energy. Biodiesel is gaining
acceptance as a practical alternative to petroleum-based
fuels, as it can be distributed via existing infrastructure
and can be used in unmodified diesel engines. The team
consisted of CEO Matt Caspari and Guido Radaelli, Vice
President of Engineering, both Haas MBA ’06; Vice
President of Research and Development Bert Vick, who
is also a UC Berkeley Ph.D. student in molecular and
cell biology; and Chief Financial Officer/Chief Operations
Officer David Hansmann.
The competition awarded a second place prizeof $10,000
to Richcore Lifesciences from Bangalore,
India. The company has developed a proprietary technology
that imparts hygroscopic properties to ordinary paper,
enabling it to absorb moisture from the atmosphere and
remain moist perpetually.
Chilight from Peking University,
People's Republic of China, and Watel Solutions
from Arizona State University tied for the third-place
prize of $5,000. Chilight developed a lighting source
in the form of energy saving LED chips. Watel Solutions'
solar-powered technology produces potable water by condensing
humidity from the air to address the poor quality and
scarcity of drinkable water primarily in Africa.
The Humanitarian Prize went to Gravitonus,
a medical device company from Russia that developed
an Alternative Computer Control System (ACCS) that helps
paralyzed individuals efficiently control computers
and resume active lives.
The People’s Choice Prize of $5,000, decided
by audience members at the concluding ceremonies held
as part of the Lester Center's Berkeley Entrepreneurs
Forum at the Haas School, was awarded to Watel Solutions.
“Intel seeks to foster technology innovation
and create an atmosphere where the entrepreneurial spirit
can thrive,” said Arvind Sodhani, president of
Intel Capital, Intel’s venture capital organization.
“We are impressed by the level of dedication and
sophistication demonstrated by this year's teams. Education
should foster an entrepreneurial culture that encourages
a wealth of visionary ideas.”
“This event gathers the sharpest entrepreneurs
from around the world; it's very stiff competition,”
said Jerome Engel, executive director of the Lester
Center. “We are thrilled that Intel has recognized
this unique setting -- the Haas School and its Lester
Center -- which works to promote global innovation in
both technology and business.”
The 19 finalist teams in the challenge were selected
as the best technology-based ventures that emerged from
10 affiliated business plan competitions around the
world: the UC Berkeley Business Plan Competition; the
Business Innovation Technology competition, a collaboration
of six Russian universities; Tec de Monterrey's Premio
Intel competition in Mexico; National University of
Singapore's Start-Up@Singapore Enterprise Launcher;
India Learning Links Foundation; China College Technology
Entrepreneurship Competition; Brazil 1st GV-Intel Challenge
of Entrepreneurship; NOVATECH Com (covering Poland,
Czech Republic, Hungary, Romania, Bulgaria, Turkey),
Pan Arab University Technology Biz Plan Competition
and Arizona State University's Technology Entrepreneurship
Challenge.
The finalist teams presented their technologies and
business plans to a panel of judges drawn from venture
capital firms with global reach - Intel Capital, Partech
International, Newbury Ventures, Capital Valley Ventures
and Alloy Ventures. In addition to cash prizes and experience
in a global competition, this access to potential funders
is a major reward for participating teams.
Each team received a certificate of
participation presented by the Lester
Center’s Jerry Engel and Intel Director of Higher Education
for Europe Mark Harris. Receiving their certificate
are
the members of the INOVEO team from Sao Paulo, Brazil
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