The University of Queensland Business School has announced the five finalists of its 2011 Enterprize competition. A drug to the delay the progression of cataracts, a stopping corrosion low-cost chemical mix, an environment friendly fabrication technology, an online international patent search tool and an internet hub that hosts competitions to build predictive models are the five ideas behind the finalists of the business competition.
The 2011 edition of the Enterprize competition has already found its five finalists that will compete among themselves for the final prize of $100,000. This year, according to the organisers, the competition attracted a high number of entries covering a wide range of fields, from medical discoveries to alternative fuels, which were examined by a panel of judges and from where the five finalists emerged.
“The calibre of entries for Enterprize 2011 was exceptional and I would like to thank and congratulate all the entrants for coming up with business concepts and plans that showed amazing innovation and enterprise,” said Professor Iain Watson, Academic Dean and Head of the UQ Business School in a media statement.
“All five finalists demonstrated smart, new ideas and an ability to articulate a vision for their businesses.”
Meet the finalists
The first finalist is Calpain Therapeutics which wants to bring to the market a new drug to delay the formation of cataracts and slow their progression.
HaystackHQ presented an online tool of its own development that provides a faster and more effective way to find international patents and analyse patent data.
Cloevis impressed the judges with its low-cost chemical mix that prevents the corrosion of concrete pipes and associated odours.
AquaHydrex is a company that developed a low-cost fabrication technology that is able to split water into hydrogen and oxygen by using synthetic catalysts.
And finally Kaggle, a global crowdsourcing competition internet hub to create predictive models for clients by allowing them to post their data which is then analysed by the world’s best data scientists that compete among themselves to present the best solutions. Kaggle was category winner in Anthill’s 2010 Cool Company Awards.
The five finalists now enter the next stage of the competition which requires them to submit a full 40 page long business plan to be reviewed by the judges. They will then receive coaching at the UQ Business School before a last attempt to impress the judges by giving them a pitch on October 13, the day the winner will be chosen.