Congratulations….everyone is a winner.
The founder of FedEx once answered the question “Did you have a hard time convincing Wall Street to buy into your dream and fund your startup? Was it a hard sell to get venture capitalists in?”
His answer: It was a hard sell in certain ways. The FedEx proposition came along when the venture-capital business was really looking for more prosaic types of investments, where you didn’t have to create a product and a market all at the same time.
But he sold his idea and his concept worked and you know the rest.
So who won the competition? Every team that competed.
But the judges scored the evaluations based on the technology, the business plan and the pitch, and the winning teams are:
First place tie:
A device that corrects basic rifle marksmanship by showing operator error during weapon firing.
The device will help reduce the initial shock exerted on a race car driver cause by a parachute deployment. The device should aid in preventing bodily injury by reducing the extreme forces acting on the driver.
Third place: Guardian Fire System
The design is an internal automated vehicle fire suppression system which will be used in case of a fire emergency. If the temperature exceeds the threshold, the infrared sensors will relay a signal back to the microcontroller and trigger the fire suppressant.
Congratulations to all of the six teams who competed in the UTSA $100K New Venture Start-Up Competition.