In 2007, German company Medical Adhesive Revolution, a startup from RWTH Aachen University, developed a high-strength biodegradable surgical adhesive that can be used inside the human body to seal wounds within seconds. The innovative technology has led MAR to be recognized as a top startup biotech company, as it recently won the 2014 Rice Business Plan Competition, the world’s most valuable and largest student startup competition, receiving $507,500. The competition was held from April 10th to 12th, and for the first time this year fettered an international team as the winner. It is also the first time that two international teams finished in the top six.
Rice University’s own team, A-76 Technologies, came in second, with the development of a corrosion inhibitor, initially targeting customers in the oil and gas industry, with plans for future development of the product for use in transportation, marine, utilities, and infrastructure. While A-76 came in second, they walked away from the competition with a larger cash amount than the winners, receiving more than $550,000 in investment, cash, and prizes.
The largest investment prize – $1 million – was awarded from the Mercury Fund to BetaGlide, from the Indian Institute of Technology — an announcement that came as a surprise for the team and the 800 attendees at the banquet. BetaGlide developed a one-stop destination for mobile app developers to create more efficient apps in an intelligent manner.
EcoBreeze, a company from the National Taiwan University that researches and commercializes innovative, powerful and green cooling technology for customers in ICT/LED field, came in third place, receiving $22,000.
In fourth place, the competition awarded $20,000 to Innoblative, a startup from Northwestern University. Innoblative is innovating breast cancer drug delivery technology by delivering therapy in minutes instead of weeks for a fraction of the cost, and without dangerous ionizing radiation.
Tulane University’s Tympanogen, a company commercializing a patent-pending gel patch for resolving a medical condition called chronic tympanic membrane perforations (holes in the eardrum) without the need for surgery, took fifth place and received more than $44,000.
Finally, in the sixth place, LymphaTech, from the Georgia Institute of Technology, received $38,000. LymphaTech has developed a revolutionary diagnostic that enables prevention of lymphedema, a debilitating disease that affects 50% of all breast cancer survivors.