Newswise — AUSTIN, Texas – (May 9, 2015) Inscope Medical Solutions, a medical device company from the University of Louisville took home first place from the Global Venture Labs Investment Competition this weekend, May 7-9 at The University of Texas at Austin.
As global champion, Inscope Medical Solutions received a cash prize of $25,000, the opportunity to close the NASDAQ in Times Square, the Austin Technology Incubator launch package valued at $25,000 and consulting time with the director of Jon Burmley Texas Venture Labs.
“Inscope Medical Solutions did an excellent job presenting their venture and responding to the judges’ questions, and we are excited they are the 2015 Venture Labs Investment Competition's Global Champion,” said Rob Adams, Jon Brumley Texas Venture Labs director.
Inscope Medical Solutions has developed an innovative medical technology that optimizes airway intubation, improving this high-risk procedure’s efficiency, speed and safety – saving lives and lowering costs to healthcare providers. Invented by company founders, OneScope is a patent-pending WIFI-enabled multi-purpose, disposable laryngoscope that integrates several devices into one.
“I am so proud of this team and thankful for this opportunity,” said Maggie Galloway, Inscope Medical Solutions CEO. “We have worked really hard over the past year and half to develop this business and we are so excited to launch it.”
Other winners announced as part of the Global Venture Labs Investment Competition include first runner-up, Ecogent, from Thammast University in Thailand; second runner-up, Elegus Technologies from the University of Michigan; and third-runner up and winner of the Wells Fargo Clean Energy Challenge, Aerox, from Thammasat University in Thailand.
In evaluating the student ventures, Global Venture Labs Investment Competition judges function as an investment group seeking to reach consensus on the business venture they would most likely fund. The quality of the idea, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentation are all considered in the judges’ decision. The judges’ panel included William Glasgow from Prime IX Investments; Sabrina Parsons from Palo Alto Software; Naruby Schienker from Ordoro; and Phil Speros from Halsa Pharmaceuticals.
“We couldn’t have asked for a better experience at the Global Venture Labs Competition and to hear from the best judges and get the best feedback – that is going to make us better,“ said Galloway.
This year’s Global VLIC competition featured 38 teams from all over the world, including the U.S., Brazil, Norway, France, Hong Kong, Germany, Canada, Australia and several teams from Thailand.
About the Global Venture Labs Investment CompetitionStarted at The University of Texas at Austin by Master of Business Administration (MBA) students in 1984, the Global VLIC is the oldest and largest new venture competition in the world, and it provides graduate student teams the opportunity to simulate the process of raising venture capital.
For more information, contact: Samantha Harris at Samantha.Harris@mcocmbs.utexas.edu, or (512) 471-6746