The inventors of a potential life-saving device and a group of undergraduate students who have designed a student services portal have won prizes to the value of $125,000 in The University of Queensland’s business plan competition, Enterprize.
A total of eight teams in two categories pitched their business plans to a panel of judges in the final on November 1 at the UQ Centre, St Lucia campus.
The Enterprize competition was expanded in its second year, with the addition of a $25,000 student team prize provided by the Queensland Government`s technology incubator i.lab, plus $100,000 provided by the UQ Business School for the open competition.
In the open category John Perrier and Brent Singer convinced the judging panel of UQ Senior Deputy Vice-Chancellor Professor Paul Greenfield, Bob Christiansen, of Allen & Buckeridge and Stephen Copplin, head of i.lab, of the viability of their RESUSS-C device.
RESUSS-C uses ultrasound to produce a reflex cough action in patients unable to do so, such as babies and young children, and those that are unconscious.
Medivations, the company established by Mr Perrier and Mr Singer to market the device, will use the $100,000 to forge ahead with a plan to have RESUSS-C in the marketplace within a year.
“We can now concentrate on clinical testing of the device, and gathering evidence that it helps prevent pneumonia and chest infections,”Mr Perrier said.
In the student category, thecouch.com.au team won $25,000 prize to develop an online portal product, to be launched in February 2003, dedicated to the growing needs of the tertiary student market.
The website will feature discounts, employment opportunities and accommodation service through the purchase of a membership card.
Students Chris Khoo, Wotan Laurindo, Teddy Makukutu and Grant Wong said the idea came to them through their experiences of managing social, study and working lives whilst surviving on a minimal budget, as many students do.
“Winning Enterprize is an excellent stepping stone for us. Not only are we receiving financial help from i.lab, but we also now have valuable links to experienced people who can help us grow our business,” Mr Wong said,
Paul Lucas, Minister for Innovation and Information Economy praised the UQ Business School for providing an opportunity for budding entrepreneurs to bring their products to the marketplace.
Professor Tim Brailsford, Head of the UQ Business School, told the audience of several hundred that Enterprize would be again supported by the UQ Business School in 2003.
Media: For further information, contact Professor Tim Brailsford (phone 07 3365 6225) or Dr David Gow (phone 07 3365 2689).
