Mines' hosts 8th Continent Project Business Plan Competition
GOLDEN, Colo., April 28, 2010 – Colorado School of Mines’ 8th Continent Project Business Plan Competition once again challenged students to create business plans that employ aerospace-derived technology in products and services with immediate commercial applications on Earth.
Competing university teams from around the world developed their concepts based on the single criterion “Would I invest my money in this venture?” A panel of judges, with both technical and business expertise, selected five semi-finalist teams to compete for the cash prize and additional services. This includes legal assistance from the intellectual property law firm Townsend and Townsend and Crew to help launch the ventures.
Brigham Young University’s student start-up venture, Altus Poles, won $40,000 in cash, support services, and secured a spot in the Global Moot Corp Competition – the Super Bowl of world business plan competitions held at the University of Texas in Austin -- for the potential to win $100,000 in prizes.
Altus Poles serves many industries by providing a new automated manufacturing process for the production of long composite grid poles that are stronger, lighter and cheaper than steel. The design of its composite grid structures achieves an incredibly high strength-to-weight ratio with a special geometry that uses longitudinal and helically-wound members. Application of this technique reaches virtually every structures market, including poles and towers, wind power generation, aerospace and defense, sports, high-rise building construction, and civil infrastructure.
Also headed to the Global Moot Corp Competition is the runner-up team Green Valley Solar, from the University of Arkansas, and semi-finalist team Deli Worm, from Sun Yat-sen University in Guangzhou, China.
Other semi-finalist teams included Advanced Battery Control from the University of Michigan and Nano-Protection, from the University of Virginia.
About the 8th Continent Project
Colorado School of Mines’ 8th Continent Project is the world’s most comprehensive effort to integrate space technology and resources into the global economy. The 8th Continent provides the infrastructure and resources to solve a wide range of challenges from renewable energy development to biomedical advances to global security. Located in Colorado, home of one of the most concentrated entrepreneurial, investor and aerospace talent communities in the world, the 8th Continent Project brings space down to Earth with the industry’s first trade association, business incubator, funding network and research center, all working together to develop the next generation of space-related business ventures. More information can be found at www.8cproject.com