Purdue News

February 17, 2006

Cosmetics, new cancer test take top entrepreneurial contest prizes

WEST LAFAYETTE, Ind. — A team developing a test that will aid in cancer management therapy and a startup cosmetics company with a line of organic soy-based beauty products took the top prizes Thursday (Feb. 16) in Purdue University's 19th annual Burton D. Morgan Entrepreneurial Competition.

Winning presentation
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IV Flow LLC won the top $30,000 prize in the Gold (graduate) Division of the business plan presentation contest, which took place at Discovery Park's Burton D. Morgan Center for Entrepreneurship.

Mike Golebiowski, a second-year Krannert School of Management MBA student, made the winning presentation, explaining the chemistry and technology of injecting a fluorescent dye into a cancer patient's bloodstream to get faster, more accurate counts of circulating tumor cells. Team member Wei He, a doctoral candidate in chemistry, devised the technology with his professor, Philip S. Low, Ralph C. Corely Distinguished Professor of Chemistry. The third team member, Yuehui Ouyang, is a graduate student in electrical engineering.

IV Flow also won $5,000 in in-kind services from Ice Miller, a legal and business services firm based in Indianapolis.

"Winning makes us feel like all our hard work paid off, that we're on the right path," Golebiowski said. "We worked hard to keep the presentation simple and illustrate clearly how the technology was superior and that there is a viable market."

Manipure Cosmetics won the $15,000 first-place prize in the Black (undergraduate) Division for their startup company that aims to produce, market and distribute a line of soy-based all-natural cosmetics. Courtney Howard, a senior from Lafayette majoring in sociology and German, and Ruth Pinto, a sophomore from Lafayette majoring in biology and food processing engineering, made the winning presentation. They plan to have a soy-based nail-polish remover on the market within a year.

"We're surprised and ecstatic about winning," Howard said. "Our next step is to work with the Indiana Soybean Board to get our first product licensed. We then plan to expand into lotions, conditioners, hair care, soap and lip balm that we'll sell through Web sites and retail stores."

Gold Division second place, $15,000 and $3,000 in Ice Miller services went to Science of Sounds Technology, which presented a high-tech baby sleep monitor that incorporated a motion sensor and microphone embedded in a crib mattress. Third place, $10,000 and $2,000 in Ice Miller services went to XFederate Technology, which offered "pervasive information management" services — secure identity access across all computer systems and platforms. Fourth place and $3,000 went to CAMPUSGIANT.com. Fifth place and $2,000 went to Cerelia Energy.

Second place and $10,000 in the Black Division went to Artistorm, an online art store. Third place and $8,000 went to Merlin's Magic Castle, a maker of educational computer games for preschool children with disabilities and those who speak English as a second language. Fourth place and $3,000 went to Roberts-Jonker Health Solutions Technology. Fifth place and $2,000 went to Edubility Software Inc.

The Krannert School of Management and the Burton Morgan Center sponsored the competition. Richard A. Cosier, Krannert School dean and Leeds Professor of Management, said the yearly competition make a valuable contribution to the educational process at Purdue.

"For 19 years, we've held this competition that has brought management students together with engineers, scientists, technologists and liberal arts students," he said. "Our entrepreneurial competition is a laboratory for what our students learn in class, and the prizes are very real. We are particularly pleased that we can offer undergraduates an opportunity to compete in their own division."

Jerry Woodall, director of the Burton Morgan Center, praised those involved with the event.

"I've seen many of these competitions at other schools, and this is a top competition, truly outstanding," he said. "We also thank the judges, busy business people, venture capitalists and professors, who contributed a full day today both judging the competition and offering the participants advice and feedback."

Don Blewett, associate director of the Burton Morgan Center, said this year's entries were excellent.

"The business plans the student teams submit get better each year," he said.

The late Burton D. Morgan was a Purdue alumnus who started 50 companies, six of which have become major corporations, including Morgan Adhesives, one of the world's largest makers of pressure-sensitive adhesives. He also was president of Basic Search Co., an idea-development firm, and wrote several books on entrepreneurism.

Morgan established the entrepreneurship competition in 1987 with an endowment gift to Purdue. The Burton D. Morgan Foundation funded the $7 million, 31,000-square-foot Center for Entrepreneurship.

Writer: Mike Lillich, (765) 494-2077, mlillich@purdue.edu

Sources: Mike Golebiowski, (714) 686-6969, mgolebio@purdue.edu

Courtney Howard, (765) 446-1412, howardcm@purdue.edu

Richard Cosier, (765) 494-4366, rcosier@purdue.edu

Jerry Woodall, (765) 494-3479, woodall@dynamo.ecn.purdue.edu

Don Blewett, (765) 494-4485, blewett@purdue.edu

Purdue News Service: (765) 494-2096; purduenews@purdue.edu

 

PHOTO CAPTION:
Ruth Pinto, from left, and Courtney Howard make the winning presentation Thursday (Feb. 16) in the undergraduate division of Purdue's 19th annual Burton D. Morgan Entrepreneurial Competition. The team won $15,000 for its startup company, Manipure Cosmetics, which will produce a line of organic soybean-based women's beauty and cosmetic products. Pinto is a sophomore in the College of Agriculture from Lafayette, and Howard is a senior in the College of Liberal Arts from Lafayette. (Purdue News Service photo/David Umberger)

A publication-quality photo is available at http://news.uns.purdue.edu/images/+2006/morgan-bizcomp-manipure.jpg

 

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