June 06, 2011
First-Year Graduate Students Sweep Knapp Venture Competition
Ridacto team takes first place with innovative software solution
LOS ANGELES -- The Ridacto team, all first-year UCLA Anderson students, took top honors in the 30th Knapp Venture Competition hosted by the Harold and Pauline Price Center for Entrepreneurial Studies at UCLA Anderson School of Management. Their cloud-based software platform, designed to track changes, comments and errors in legal contracts, helps to keep the process and management of these types of documents simpler, smarter and more secure. The Ridacto team also won the People's Choice Award.
The annual Knapp Venture Competition is a student-run event that provides UCLA Anderson students with an intensive learning experience in the development and enhancement of new business ventures. The competition is named for Cleon T. (Bud) and Betsy Wood Knapp, entrepreneurs and philanthropists whose generous monetary endowment in 1997 supports this annual event and other entrepreneurial initiatives.
"During the past 30 years, the Knapp Venture Competition has provided a forum for hundreds of Anderson students to engage in the entrepreneurial process," says Senior Associate Dean Al Osborne, who serves as faculty director of the Price Center. "We are honored to have partnered with Bud and Betsy Knapp, whose leadership has been critical in developing a robust, year-long competition that provides Anderson students with an intensive, unparalleled learning experience."
The following is the list of the finalists in the 2011 Knapp Venture Competition:
1st place, $15,000
Ridacto - Provides an end-to-end solution for the process of creating, revising, negotiating, signing, and managing legal contracts. (Russ Altenburg, Kaizer Campwala, Arvind Chandrasekaran, Simon Geraghty, Max Mednik, Daniel Zarovy)
2nd Place, $7,500
Matchfund - Helps teens form good money management habits from the start and teaches fundamental financial literacy concepts. (Susan Hwang, Paul Taylor)
3rd Place, $5,000
Surprisingly Vegan - Vegan and gluten-free waffle mix that will be sold through health food retailers. (Kyle Cobb, Todd Morris, Talia Rodgers, Isaac Sims)
4th Place, $2,500
SalaryView - A new web-based approach for universities to collect and distribute salary information, while providing students with tools for personalized salary research. (Kenny Berlin, Sean Cramer, Ed Lang, Whey Han Tan, Mike Walsh)
5th Place, $1,000
MR3 - Next generation of implantable pacemaker technology. (Jeff Chang, Ed Cho, Garett Chisum, Sumit Kharbanda, Pankaj Sunkeri, Ramki Yerramsetty)
$1,000 People's Choice Award - Ridacto
Previous teams that have entered the competition have launched numerous businesses, including stamps.com and eFriendsNet, one of the largest social networking and dating companies in China. The latter was recognized as one of the 50 Most Innovative Chinese Internet Companies in the 2005-2006 China Internet Industry Report. In 2005, Knapp winner Auditude licensed its technology to Premiere Radio Networks, the syndication division of Clear Channel Communications Inc., and took in more than $135,000 from additional competitions. One of last year's winners, CytoScale Diagnostics, has made strides in licensing a device capable of analyzing growth signaling pathways of cells that it plans to commercialize by the end of 2013.
For more information on the Knapp Venture Competition, please visit: http://www.anderson.ucla.edu/x10064.xml
About the Harold and Pauline Price Center for Entrepreneurial Studies at UCLA Anderson
The Harold and Pauline Price Center for Entrepreneurial Studies at UCLA Anderson School of Management is an internationally recognized leader in entrepreneurial education and research. With a distinguished faculty as its cornerstone, the Center oversees activities that advance the theory and practice of entrepreneurship as well as the related fields of technology and innovation, venture capital and private equity, and social enterprise. Well known for the impact of its outreach programs, the Price Center fosters a spirit of innovation in individuals, enhances the managerial capacity of organizations, and prepares entrepreneurial leaders who will provide significant, sustainable and economic value to society.
UCLA Anderson School of Management
Celebrating 75 years of "business beyond usual," the UCLA Anderson School of Management is regarded among the leading business schools in the world. UCLA Anderson faculty members are globally renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides a distinctive approach to management education to more than 3,600 students enrolled in its M.B.A., fully-employed M.B.A., executive M.B.A., UCLA-NUS Global Executive M.B.A., master of financial engineering, doctoral and executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a worldwide network of 37,000 alumni, UCLA Anderson develops and prepares global leaders.
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