MSE Team Wins UW-Business Plan Award

May 26, 2011

MSE graduate students Matt Ferguson and Amit Khandhar, along their team members Shivang Dave (Bioengineering ) and Garrett Leischner (MBA), have received the $5,000 Fenwick & West Finalist Prize in the 2011 UW-Business Plan Competition sponsored by the UW Foster School of Business.  Ferguson and Khandhar’s plan was for a start-up company called LodeSpin Labs to commercialize tracers for Magnetic Particle Imaging, a new medical imaging technology capable of replacing CT and MRI for imaging patients with heart disease and cancer.  This new company was founded last year with their faculty advisor Kannan Krishnan.

This year’s BPC competition had a record 104 student teams from 11 universities.  Over the period of one month, judges reviewed plans and listened to pitches, gradually whittling the competition down to 16 teams who then made full presentations to a second set of judges.  Out of the 16 came the 5 finalists who presented to a panel of 7 entrepreneur judges who then selected the 4 award winners on May 26th.

This competition was looking for the next generation of start-ups and the winning plans will focus on bringing low-cost solutions for clean drinking water to the developing world, providing fresh produce and pantry staples to urban food deserts, producing resistant starch from potatoes that will lower glycemic index response in people with diabetes and, for the LodeSpin team, developing new medical imaging technology.  Winning one of the 4 awards was a great accomplishment for our team.  For more information on the research that helped them win, see our previous MSE News article.

(l-r) Shivang Dave, Garrett Leischner, Kannan Krishnan, Matt Ferguson, Amit Khandhar

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