Santa Clara, CA (PRWEB) July 13, 2012
Santa Clara University’s Leavey School of Business and Mary Furlong & Associates announced today biodesign company HyloMimetics as the $10,000 grand prize winner of the business plan competition that took place June 20 as part of the ninth annual Silicon Valley Boomer Venture Summit. HyloMimetics competed against four other new business ventures that have developed products or services focused on the baby boomer market.
San Francisco-based HyloMimetics is developing a bioinspired molecule that prevents the progression of osteoarthritis and restores healthy cartilage, getting patients out of pain and remobilizing their lives. According to the researchers at Purdue University that are behind this development, this molecule would address a huge gap as there is nothing out there that prevents the progression of osteoarthritis.
“Our judges really had their work cut out for them this year as we received the most impressive applications since the inception of this competition,” said Mary Furlong, Ed.D., event producer and Dean's Executive Professor of Entrepreneurship at SCU. “All five finalists presented well-thought-out business plans for viable businesses. In fact, most of them have already completed the research and development needed to bring their products, procedures or services to market.”
The five finalists had five minutes to present their business plans onstage to a panel of distinguished judges that included Andy Donner, director at Physic Ventures; Anne Hawkins, vice president at Great Hill Partners; Jody Holtzman, senior vice president, Thought Leadership at AARP; John Hopper, managing director at Linkage Ventures; Xander Mahony, venture capitalist for Draper Fisher Jurvetson; Scott Oliver, partner, Morrison Foerster; and Jeff Shoemate, vice president of innovation and business development for the senior markets segment of United Health Group.
In addition to HyloMimetics, the other finalists included:
“All of the finalists presented outstanding business solutions addressing the needs of the baby boomer market. In particular, HyloMimetics delivered a thoughtful business distribution strategy for an exciting medical solution,” said Jeff Shoemate, one of the finalist judges and vice president of innovation and business development at United Health Group. “I think what gave HyloMimetics a slight edge was its relation size and growth potential of the addressable market.”
The annual Silicon Valley Boomer Venture Summit is a venue for entrepreneurs and venture capitalists to share information about serving or investing in companies catering to consumers age 50 and older. Leading venture capitalists discuss why they are investing heavily in this market, company executives discuss their business plans and analysts explain how they segment the market and evaluate business opportunities.
For more information on the Boomer Venture Summit, visit http://www.scuboomerventure.com/.
About the Leavey School of Business
The Leavey School of Business at Santa Clara University began in 1926, and was one of the first business schools in the country to receive national accreditation. Its undergraduate business program is among the top in the nation (#39 nationally, and in the top three in California), its MBA program is #10 in the nation, and its Executive MBA is ranked 15th in the U.S. The curriculum at all levels emphasizes the leadership role of business in creating an ethical society as well as business responsibilities for social justice and sustainability in the global marketplace. The School opened its new $49 million building for undergraduate, graduate, and professional business education in Fall 2008. For more information, see http://www.scu.edu/business/.
About Mary Furlong & Associates
Mary Furlong & Associates is the nation’s foremost consultancy to organizations seeking to capitalize on new business and investment opportunities in the boomer market. The company provides business development, financing strategy and integrated marketing solutions to entrepreneurs, corporations and non-profit organizations serving the 50+ market. Mary Furlong is the Dean's Executive Professor of Entrepreneurship at the Leavey School of Business. For more information, visit http://www.maryfurlong.com.
Deborah Lohse | SCU Media Relations | dlohse(at)scu(dot)edu | 408-554-5121
Laura Fontanills | Common Language | laura(at)common-language(dot)com | 813-215-1271