Less than a month after bringing home the top prize at the respected Rice Business Plan Competition, a team of entrepreneurship students from the University of Louisville College of Businessearned the grand prize in an international contest that is widely regarded as the “Super Bowl” of business competitions.
UofL’s TNG Pharmaceuticals team was the top winner in the Venture Labs Investment Competition, beating 39 teams from schools that included Johns Hopkins University, Norwegian University of Science and Sasin Graduate Institute in Thailand to capture the honor and a cash prize of $135,000.
TNG’s entry featured a business plan for FlyVax, a vaccine to control cattle horn flies, an agricultural pest that costs farmers more than $1 billion a year. TNG is licensing the patented vaccine, which was developed by scientists at Auburn University.
TNG reached the Venture Labs contest finals by winning over teams from Ohio State University, Carnegie Mellon and University of Arkansas in the semifinal round. The team’s winnings now total $800,000, which includes prize money from first-place finishes in contests at the University of Cincinnati, University of Nebraska and Rice University.