Technion’s 2008 BizTEC Competition

biztec-image.jpgThe Technion’s 2008 BizTEC competition is well under way. The annual event, which is held in partnership with The Marker, draws teams from all of Israel’s major universities and rewards big prizes based on best business plan submissions for the hottest and most lucrative startup ideas.

Ten $1000 “teaser” awards were doled out last month for the coolest ideas and teams are now putting finishing touches on their executive summaries for submission to the semi-finals. Up to 25 out of 150 teams will be selected on March 16 to compete in the finals by a panel of judges that includes some prominent figures from the Israeli business community.

Each of these teams will then receive a mentor and additional support services to help them put together an entire business plan in time for the finals. They will also each give a short presentation to the judges in hopes of winning one of the three top prizes and up to 50,000NIS. The winners will be announced on June 12.

Ideas range from novel baby monitoring devices to new arthritis treatments. Since the Grand Kickoff on December 16 a number of networking events and workshops have been held for students which included, among other things, Guy Rolnik, founder of The Marker talking about entrepreneurship in the media, and Orna Berry, Gemini Partner and former Israeli Chief Scientist discussing recent trends in the VC community.

Winners will represent Israel in Europe’s larger entrepreneurship competition. Last year’s third place winner, NRG Fuels from Ben Gurion University, won the top prize in that competition and continued on to the international competition at UC Berkeley where they took second place.

For more info check out the BizTEC Website




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