Yale Students Win $20,000 First Prize and a Shot at Venture Capital

A team from Yale won the First Prize at the Second Annual Connecticut Venture Group University Business Plan Competition held at the New Haven Lawn Club on April 21. First Prize includes $20,000 and an invitation to present the winning Business Plan to venture capitalists and other potential investors/partners at the Connecticut Venture Fair Competition in Stamford Wednesday, April 28.

The Connecticut Venture Group University Business Plan Competition is intended to stimulate young entrepreneurs to develop and build businesses in Connecticut. This year's competition attracted 28 teams, with 12 teams from Yale, including 3 from Engineering. Two of the 5 finalists were teams from Yale Engineering with School of Management participants.

First Prize went to "Ola Factory," a business plan by Yale Engineering and Yale School of Management students for computerized scent-delivery in video games and aromatherapy. This proposal was generated during "SynThesis," a course on product design and business development for entrepreneurial teams, which is given as part of the Select Program in Engineering at Yale. "SynThesis" is taught by Natalie Jeremijenko, a doctoral student in mechanical engineering who was highlighted in the New York Times (2/24/99) as the creator of "the most*provocative works of techno-art over the last decade," and Prof. Robert Apfel, Robert Higgin Professor of Mechanical Engineering and Director for External Affairs for the Faculty of Engineering at Yale.

Support for Connecticut Venture Group University Business Plan Competition comes from Advest, Inc.; Arthur Andersen LLP; Connecticut Innovations, Inc.; Day, Berry & Howard LLP; Shipman & Goodwin LLP; and Webster Bank. Prizes in the Connecticut Venture Group University Business Plan Competition are as follows: First Prize is $20,000, Second Prize is $5,000, and runner-ups receive $2,000.