Global Business Plan winner announcededucation Updated: Jul 14, 2010 10:25 IST
Global Business Plan winner announced
Ambiq Micro emerged as the winner of Global Business Plan Competition and will receive an investment worth $250,000 from DFJ and Cisco for their project which proposed to make the Next Generation Energy-efficient Microcontrollers. The winning team was selected out of 16 finalists across the globe. "It was difficult to choose a winner, but Ambiq Micro has an impressive technology and team to pursue what is a very interesting market," said Hilton Romanski, vice president of corporate development at Cisco. Out of the finalists, Micro Med was the only Indian team which was floated by two students and a faculty member at IIT Kharagpur. Though it didn’t make it to the top slot, but has made it to the runner ups, which will be entitled to receive some financial support from the organisers. Debapriya Chakraborty, a PhD student of mechanical engineering, at IIT Kharagpur, and one of the team members of Micro Med, says: “We aim to reduce the cost and improve the efficiency of pathological tests using the technology of micro fluids.”
Finalists in the competition were selected and evaluated in the same way that venture capitalists evaluate start-ups.
For each company, the judges considered the management teams, addressable market size, competitive positioning, barriers, capital efficiency and financial projections.
Students from around the globe are eligible to participate in this competition. For future applications, look for the announcement on www.dfj.com/bizplan or send an email to email@example.com