Media Tracking Technology Team Wins Knapp Venture Competition at UCLA Anderson School of Management
LOS ANGELES — The Harold Price Center for Entrepreneurial Studies at UCLA Anderson School of Management announced the winners of the 24th annual Knapp Venture Competition, held Thursday, May 26, 2005. Team Auditude, a media tracking technology company, won the competition and received a grand prize of $10,000. Team Mujisan, an advanced drug delivery company, came in second place and received a $4,000 prize. The competition consisted of five finalist teams who presented their business plans to a judging panel of distinguished entrepreneurs and investors.
Auditude, the winning UCLA Anderson team, is composed of Johanna Wright (’05), Nicholas Seet (’05), and Erik Haus (’05). This team also recently came in first place at the Rice University Business Plan Competition.
Auditude has a proprietary technology that allows tracking of advertisements on TV and Radio to ensure that they are executed correctly. Currently up to 10% of ads are incorrectly executed, costing the broadcast industry $6 billion per year. Auditude can detect these errors and allow broadcasters to play make-up ads instead of issuing refunds, and allow advertisers to validate that they are getting what they paid for. In 2004, Auditude licensed its technology to Premiere Radio Networks, the syndication division of Clear Channel Communications Inc., and is currently engaged in active discussions for with several other national broadcasters.
“The Knapp competition was phenomenal, the level of competition and judges was world class,” said Nicholas Seet.
“Even before I came to UCLA Anderson School I wanted to be in this competition, ” said Johanna Wright. “I am really thankful to have been able to compete this year, and winning it was unbelievable.”
Team Mujisan, who received second place honors, include team members Peter Catalino (’05), Bassel Rifai, Karoon Monfared, David Wang and Jane Lee. Mujisan is an advanced drug delivery company based on our groundbreaking proprietary drug polymer technology, PolyRx. PolyRx represents a novel sustained-release (SR) formulation that forms polymers using individual drug molecules as the building blocks. Their first reduction of the PolyRx technology, PolyOxy, is an abuse-resistant, SR opioid that targets the $3B US market for Oxycontin.
The three remaining teams, A-List Magazine, AsiaCard and Ocelot, received honorable mention and each team won $2,000 in prize money. (See team descriptions below). Additionally, A-List Magazine won the Epson America, Inc. Peoples Choice Award and received a $1,000 prize.
The Knapp Venture Competition is designed to provide UCLA Anderson students with an intensive learning experience involving the entrepreneurial process. The competition prepares students to excel in their own entrepreneurial experiences by simulating the process of starting and evaluating a venture enterprise.
Over 190 students, potential students, faculty, staff and special guests attended the final round of the 2005 Knapp Venture Competition. The winners were announced at a reception following the competition.
“The judges remarked that the quality of this year’s business plans and team presentations were the highest they have ever seen,” said Jennifer Tooley, program manager, Harold Price Center for Entrepreneurial Studies. “This could be a result of the new program we implemented called the Knapp Venture Review. This allowed teams to gain feedback from their peers with a mock judging panel, prior to the semi-final rounds.”
The Knapp Venture Competition requires that at least one member of a team be a current UCLA Anderson student. The competition allows students to discover the incredible resources that are available to them at UCLA and throughout the greater Los Angeles community. Fellow UCLA Anderson classmates and alumni, as well as graduate students in the other technical and professional schools, are all potential partners and sources of ideas.
The honorable mention teams of the 2005 Knapp Venture Competition are as follows:
A-List Magazine — A-List Magazine is a general-interest, monthly publication that takes the ranking, such a dominant and lucrative editorial device across the newsstand, and exploits it as a cover-to-cover format. In other words, a magazine of lists.
Team: Ronnie Gul, UCLA Anderson MBA ’06; Andrew Lenchewski
AsiaCard — AsiaCard is the first national consumer loyalty program targeting the 900,000 Asian merchants and 13 million Asian-American consumers who represent $363 billion in annual purchasing power. Through its electronic payment-based loyalty program, AsiaCard will help both local and national businesses acquire, retain and understand the Asian consumer segment.
Team: Jason Lee, UCLA Anderson MBA ’06; Lynn Wang, UCLA Anderson MBA ’06; Nikao Yang, UCLA Anderson MBA ’06; Eleanor Hsu, UCLA Anderson MBA ’06; Amy Chiou, UCLA Anderson MBA ’06.
Ocelot — Ocelot enables consumer electronics leasing by connecting existing value chain participants and providing the single missing capability — predicting future device resale values. Initially, Ocelot enables retailers to offer consumers flexible leases on notebook computers, digital music players and digital cameras.
Team: Jade Van Doren, UCLA Anderson MBA ’05; Jeremy Milo, UCLA Anderson MBA ’05; MBA ’05, Marc Lebovitz, UCLA Anderson MBA ’05;Courtney Cochran, UCLA Anderson MBA ’05.
The Knapp Venture Competition is named for Bud and Betsy Knapp, whose $2 million gift to the school supports the annual event and other entrepreneurial initiatives. The couple serves on UCLA Anderson School’s Board of Visitors.
Below is the list of judges who evaluated the business plans and presentations of the five finalist teams:
–Betsy Wood Knapp, founder and CEO, BigPicture Investors, LLC
–Cleon T. “Bud” Knapp, trustee, The Knapp Foundation
–Abbott Brown, vice president, Ridgestone Corp.
–Lee Bailey, partner, Rustic Canyon
–Christine A. Bubser, consultant
–Josh Empson, vice president, corporate development, United Online, Inc.
–Robert Goldberg, executive VP and managing director, venture operations, Idealab
About the Harold Price Center for Entrepreneurial Studies
The Harold Price Center for Entrepreneurial Studies, a recognized leader in entrepreneurial education, oversees all teaching, research, extracurricular and community activities related to entrepreneurship at UCLA Anderson School of Management. The Price Center strives to provide academic and extracurricular experiences that advance both the theory and practice of entrepreneurship.
About UCLA Anderson School of Management
UCLA Anderson School of Management is perennially ranked among the top-tier business schools in the world. Award-winning faculty renowned for their research and teaching, highly selective admissions, successful alumni and world-class facilities combine to provide an extraordinary learning environment. Established in 1935, UCLA Anderson provides management education to more than 1,400 students enrolled in full-time, part-time and executive MBA programs and doctoral programs.
UCLA Anderson’s faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decision sciences, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.
Recognizing that the school offers unparalleled expertise in management education, the world’s business community turns to UCLA Anderson School of Management as a center of influence for the ideas, innovations, strategies and talent that will shape the future.
COPYRIGHT 2005 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning