Melbourne University Entrepreneurs Challenge

Melbourne University Entrepreneurs’ Challenge (MUEC) is Melbourne Business School’s premier business plan competition aimed at providing a unique learning opportunity to commercialize research and ideas in a supportive, fun environment that protects teams’ intellectual property.

Since 1999, MUEC links people with great ideas to people with business knowledge, providing teams with the (free) training, industry networks and professional advice needed to become successful entrepreneurs. It provides an excellent opportunity for members of the Melbourne University community to refine their new venture creation and business planning skills.

After almost four months of grueling research, planning, and competition, the winners of the Melbourne University Entrepreneurs’ Challenge 2010 have been crowned!  The three winners were formally announced at the delicious and entertaining Awards Dinner on May 7, but for those of you who couldn’t make it, read on!

Our Grand Prize winner, and the new proud owners of probably the largest check ever cut (we do mean that very literally), is team CounselLink.  CounselLink, an eHealth technology, outsourcing, and lead generation company that serves the allied health profession, has already begun making waves in psychology and aims to scale up to other health sectors.  The team presented a strong business plan, backed by an even stronger pitch at the Grand Finals, and it was the Judges’ opinion that CounselLink is positioned to excel in the growing eHealth market.  This team put together such a thorough MUEC plan and presentation that there remains only one question: How did they manage to get the giant check, provided by our title sponsor Pitcher Partners, onto the tram?  CounselLink also received generous in-kind services prizes from Melbourne Angels and McDonald Partners.  Without a doubt, CounselLink is a company to watch.

It was a very close race to the Grand Prize, and our Runner-Up team should be equally proud of their work in MUEC 2010.  Make Me Iconic is a brand new Melbourne-based company that brings this great city’s unsung icons to life.  With their fresh, locally designed homewares and premium crafted Melbourne souvenirs, this team impressed the Judges with their clear, effective business plan and nearly stole the show at the Grand Finals.  Make Me Iconic received invaluable services prizes from Pitcher Partners, McDonald Partners, and Melbourne Angels, which should help their business grow even further.  We can’t wait to see what new products appear on their website next!

Finally, and for the first time ever, MUEC was proud to award team Equoal with the Social Impact Prize, provided by the Asia Pacific Social Impact Leadership Centre.  Equoal will provide ethical tourism options to North American customers, capitalizing on a growing market of young, time-bound professionals with the urge to make a difference in the world.  This team put together a stellar business plan, followed up by a passionate presentation that really set them apart.  The Social Imapct Judges were thrilled to award the $6,000 prize from the Social Impact Leadership Centre to this up-and-coming company.  Equoal plans to expand globally within ten years, so plan your upcoming holidays accordingly.

Congratulations are also in order for all the teams that participated (to whatever extent) in MUEC 2010.  We know it’s a lot of effort, especially during the hectic academic schedules of Term 1, but you really came through with some amazing ideas and solid business plans.  We hope to see all of you next year!

Tomorrow Innovations / Tomorrow Ventures is launching the Tomorrow Innovations incubation program with cash, financing and mentorship.

About Tomorrow Innovations / Tomorrow Ventures:

• Associated with larger fund Tomorrow Ventures which is actively investing
• Based in Palo Alto, CA, USA
• Goal is to inspire, encourage and support global innovation and entrepreneurship

About the Incubation Program:
First-round of $5,000-$10,000 to dozens of selected companies
Second-round convertible debt of $50,000 – $150,000 to a subset of selected companies
Support services including mentorship, development support, community platform, investor introductions and advice

Timeline:
Applications accepted May 17 – June 11, 2010
Grant decisions announced June 30, 2010
Incubation period July 1 – Sept. 30, 2010
Second-round funding decisions announced Oct. 18, 2010

For more information check  http://www.tomorrowinnovations.com/

The text below is published by request of Dr Kar Mei Tang (AVCAL)

The Australian Private Equity & Venture Capital Association Limited (AVCAL) is pleased to announce the introduction of two research prizes in 2010. The aim of this programme is to encourage the development of high-quality research on issues of importance and relevance to the Private Equity and Venture Capital industry in Australia, and to increase knowledge and understanding of the industry through the publication of pertinent articles in the scholarly press. Submissions are invited from academia and industry participants for these prizes.

The prizes are:
• AVCAL Private Equity Research Prize: A$2,500 will be awarded for the best paper on private equity
• AVCAL Venture Capital Research Prize: A$2,500 will be awarded for the best paper on venture capital

Submissions are invited from academia and industry participants for these prizes. Entries close at 5pm (EST) on Friday 10th December 2010 and will be judged by a panel selected by AVCAL.

The submission guidelines are available online at www.avcal.com.au/research/researchprize.

This year MUEC was very competitive, all finalists showed great business plans and presentations, so our judges worked hard to determine the winner.

Here is the winners list:

• Grand Prize winner: CounselLink
• Grand Prize runner-up: Make Me Iconic
• Social Impact Prize: Equoal

MUEC organization committee congratulates all winners with their success and wish their companies all the best in the future.