News :: Press Releases 2000 - 2001

Biotech and Software Ventures Win Wharton Business Plan Competition

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PHILADELPHIA, May 8, 2001 - ProtoCell, a biotechnology company that is developing a drug discovery tool to determine the function of thousands of proteins, was the grand prize winner of the third annual Wharton Business Plan Competition. The winners were announced on April 30 at Philadelphia's Ballroom at the Ben Franklin during the competition's Venture Finals, which marks the culmination of the nine-month long competition.

The eight finalists presented their business plans to venture capitalists, investment bankers, attorneys, and fellow students at the event, which was keynoted by Half.com founder and Wharton graduate, Josh Kopelman. The winning team was awarded $25,000. Wharton's Business Plan Competition represents the best and the brightest in new business ideas and the next wave of business achievement.

More than 185 teams from the University of Pennsylvania submitted business concepts during the competition and competed for over $60,000 in prizes and access to capital. The second place winner, Designware, took home $15,000 for their company, which provides software tools and support services that streamline and automate the product development processes.

Genoma, a company that uses genomic technology and proprietary software to analyze a patient's genetic architecture and make health and wellness recommendations came in third winning $10,000.

Lead sponsors of the competition include: Enron, CIBC and CommerceNet. The Venture Finals also received corporate support from P2B and PenNetworks.

Wharton was the first school to develop a fully integrated curriculum of entrepreneurial studies. Today, Wharton's Goergen Entrepreneurial Management Program is one of the largest entrepreneurial programs in the world, offering more than 20 courses to some 2,000 students and entrepreneurs. The faculty of over 20 professors and practitioners teach courses for undergraduate and graduate students and guide initiatives for entrepreneurs.

The Wharton School of the University of Pennsylvania is recognized around the world for its academic strengths across every major discipline and at every level of business education. Founded in 1881 as the first collegiate business school in the nation, Wharton has approximately 4,600 undergraduate, MBA, and doctoral students, more than 8,000 participants in its executive education programs annually, and an alumni network of more than 75,000 worldwide.

Press Releases Contact:
Peter Winicov
Associate Director of Communications
215-746-6471
winicov@wharton.upenn.edu