Biology senior Madison Valdivia pitched Olive Tree Therapeutics, which is developing a therapy vest for animals with upper-respiratory illnesses. Olive Tree Therapeutics received $15,000 for winning a UTDesign Startup Challenge award.
University of Texas at Dallas students, alumni and researchers shared their innovative business initiatives while competing for $170,000 in cash and scholarship prizes during the 2023 Big Idea Competition finals on May 19 at the Blackstone LaunchPad facility on campus.
Hosted by the Institute for Innovation and Entrepreneurship (IIE), UT Dallas’ premier pitch contest featured projects in industries ranging from transportation and health to pet care and education.
Routora, led by computer science senior Tom Vazhekatt, won the student competition and $25,000. Routora, which aims to create faster and more cost-efficient, multistop routes for drivers, tested its technology with more than 11,000 beta users, saving them 12,000 hours of drive time and $140,000 in fuel costs. More than 3,300 drivers are on a waiting list for the service.
“Winning the pitch competition was an incredible milestone for us at Routora,” Vazhekatt said. “This prize money will be instrumental in fueling our marketing efforts as we forge valuable partnerships with other apps in the gig economy and social media influencers who can relay our mission to their audiences. We will also be using the funding to help support our development costs as we prepare to launch our mobile app this summer.”
OptiMIND won the Research Commercialization Pitch Track and received $40,000 for a project that uses games to enhance brain and cognition skills across a person’s lifespan.
Dr. Chandramallika Basak, associate professor of psychology in the School of Behavioral and Brain Sciences, said the winnings will provide much-needed funding and an increased opportunity to encourage future potential investors for the project. She also directs the Lifespan Neuroscience and Cognition Lab at UTD’s Center for Vital Longevity.
“This is a very encouraging result,” she said.
Creator Camp, led by Jacky Chao BA’22, won the alumni category and $25,000. The company offers technology-oriented summer camps, giving children a chance to enhance their skills in areas ranging from film to coding. Creator Camp partners with local businesses and schools, which host the camps during off-peak times. The number of locations has grown from four to 13 in the past year.
Four ventures also received $15,000 each for winning UTDesign Startup Challenge awards: Manta Systems, which also won $5,000 as a runner-up in the student category and a $5,000 specialty prize from the Naveen Jindal School of Management’s Center for Retail Innovation and Strategy Excellence for an automated frozen fish feeder; Olive Tree Therapeutics, which is working on a therapy vest for animals with upper-respiratory illnesses; Athlete Reserve, which connects NCAA athletes with name, image and likeness sponsorship opportunities; and Longshots Disc Golf, which seeks to develop the first disc-golf driving range in Texas.
“I was incredibly excited to see four of our 10 finalists were female-founded startups. This speaks to the diverse culture within our university, and how we aim to create an even playing field for entrepreneurs, no matter the industry or type of business idea. UT Dallas is a special place to be a part of.”
Leon Jacobson MBA’22, assistant director of the Institute for Innovation and Entrepreneurship
Belonging Again, a nonprofit concept focusing on talent and career development to aid those who are homeless, won the Harry Bass Jr. School of Arts, Humanities, and Technology specialty award of $5,000.
Leon Jacobson MBA’22, assistant director of IIE who oversaw the competition this year, was pleased with the amount of diversity among the finalists.
“I was incredibly excited to see four of our 10 finalists were female-founded startups,” he said. “This speaks to the diverse culture within our university, and how we aim to create an even playing field for entrepreneurs, no matter the industry or type of business idea. UT Dallas is a special place to be a part of.”
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A complete list of winners and more event photos can be found on the Institute for Innovation and Entrepreneurship website.
Annabel Reeves, one of the competition’s six judges and a financial investment advisor at Goldman Sachs, was impressed by the participants’ preparation and the different angles they took in the presentations of their products.
“The poise that was shown, the quality of the presentations and how far they have thought through the future of their businesses, you can see success in their future,” she said. “These were very tough decisions when we had to evaluate them, and that’s the sign of a group that really brought terrific ideas.”
In addition to Reeves, other judges were Veena Somareddy MA’14, co-founder and CEO of Neuro Rehab VR and a 2017 Big Idea Competition winner; Jillian Levovitz, chief strategy officer at FemHealth Insights; Jeff Williams BS’87, a partner at Interlock Partners; George Brody, CEO of InfoNet of Things; and Dennis Dayman, an entrepreneur and investor.
Hannah Davis, former co-host of “Good Morning Texas” and now an entrepreneur, hosted the event.
This story was reported and written by freelance contributor Eric Butterman.
