Two 51³Ô¹ÏºÚÁÏ teams swept the graduate division of the Reynolds' Cup Tri-State competition in Las Vegas last night, a contest aimed at simulating the real-world process of entrepreneurs creating a business plan to solicit start-up funds from potential investors.
This is the first time a 51³Ô¹ÏºÚÁÏ team has received the top prize since the competition began five years ago. 51³Ô¹ÏºÚÁÏ beat out collegiate teams from Arkansas and Oklahoma.
"The sweep the graduate division is huge for us and I could not be more proud of our students," said Andrew Hardin, faculty advisor for the teams and director of the 51³Ô¹ÏºÚÁÏ Center for Entrepreneurship at the Lee Business School.
Geyser Flow Control
Geyser Flow Control took home the first prize of $30,000. The water-saving device was created when 51³Ô¹ÏºÚÁÏ students partnered with local entrepreneur Peter Maksymec to develop his business idea. Maksymec developed a metal disc that can be attached to a sprinkler head and limits water flow during a device malfunction. The tool reduces the flow of pressure to the sprinkler head, resulting in more concentrated water drops hitting the lawn. The team estimates the device could save as much as 10,000 gallons per year.
Earlier this year, the team received the grand prize at the Dominic Anthony Marroco 2012 Southern Nevada Business Plan Competition, as well as second place in the graduate category of the Nevada Governor's Cup. The company already has a Nevada business license and plans to begin production in June.
"This is giving us a lot of opportunities to show the community what we've done," Maksymec said. "The science for the product is there, now we need to get the word out to the public and take this technology to Clark County, the state and beyond Nevada."
Recipients included:
- Michael Ginannini
- Seth Ostrowski
- Paul Kotchka-Smith
-
Erin Johnson
- Joshua Ellison
MASH Tool USA
In second place was MASH Tool USA, a team of 51³Ô¹ÏºÚÁÏ students that created a business plan around a pogo stick shaped tool for use in landscaping. The MASH tool is designed to help dig and plow yards, is readily portable and weighs about 25 pounds.
MASH tool was conceived by 51³Ô¹ÏºÚÁÏ engineering students as part of a bi-annual senior class completion to design and create inventions with commercial potential that solve everyday engineering challenges.
Students in 51³Ô¹ÏºÚÁÏ's Master of Business Administration program then teamed up with engineering undergraduate students to develop business plans for the projects. 51³Ô¹ÏºÚÁÏ began the partnership between engineering and MBA students about two years ago and has experienced continued success in several regional competitions.
Earlier this year the MASH Tool team received first prize in the graduate division for the Nevada Governor's Cup.
Recipients included:
- Angela Douglas,
- Elizabeth Lewis
- Sarah Zalas
- Brandon Peters
- Peter Nazarechuck
