After being selected as two of the top ten finalists for the 29th annual Burton D. Morgan Business Plan Competition, we are excited to announce that 2nd year MBA students Shane McGuire and Adam Beal finished in the top tier.
As first place winner in the Gold Division, McGuire's team, Adranos Energetics LLC, recieved the $30,000 top prize. In a close second place, Beal's team, Vibronix, received $15,000 in the same division.
As both business ideas have high impact potential, we are looking forward to witnessing some promising new developments in the near future. The cash prizes are intended to further the commercialization of their inventions.
Vibronix: MarginPAT, which offers an intraoperative imaging tool that provides contrast of tumor and non-tumor tissue. The technology enables a surgeon to clear cancer residue during the first operation, potentially reducing the re-operation rate to zero and decreasing the average cost of lumpectomy by nearly 30 percent.
Adranos Energetics LLC: Develops materials such as propellants, explosives and pyrotechnics, including a solid rocket propellant formulation called ALITEC (Aluminum Lithium Technology). ALITEC is more powerful, more efficient and less harmful to the environment than existing solid rocket propellants, allowing missiles and space launch vehicles with greater range and enhanced payload capacity for less cost.
Burton D. Morgan Competition
The goal of the Purdue University Burton D. Morgan Business Plan Competition is to provide an opportunity for Purdue students to learn about entrepreneurship through the development and presentation of a business idea to a panel of judges.
The annual Purdue entrepreneurship competition started in 1987 with an endowment gift from The Burton D. Morgan Foundation, which also funded the $7 million, 31,000-square-foot Center for Entrepreneurship in Discovery Park.
The Burton D. Morgan Center for Entrepreneurship, through its sponsored initiatives and partnerships - including the Certificate in Entrepreneurship and Innovation, Technology Realization Program, Entrepreneurial Leadership Academy and business plan competitions - aims to stimulate entrepreneurship at Purdue and serves as a state, regional and national resource.