International Nanotechnology Business Idea Competition Names Judges Five Venture Capitalists, Industry Leaders to Review Entries



    CLEVELAND, Sept. 13 /PRNewswire/ -- Organizers of the first International
 Nanotechnology Business Idea Competition today announced the names of judges
 who have agreed to preside over the October 28-29 NANO Week event. The panel
 thus far includes five venture capitalists, the CEO of a nanotechnology
 company, the leader of a major nanotechnology trade association, and a
 professor of business entrepreneurship.
     The venture capitalists on the panel are David Morgenthaler of
 Morgenthaler Ventures (Menlo Park, Calif.); Timothy Schigel of Blue Chip
 Venture Co. (Cincinnati); Craig Gomulka of Draper Triangle Ventures
 (Pittsburgh); Rob Miles of Koch Ventures (Dallas); and Brad Fogg of HB Fuller
 Ventures (St. Paul, Minn.).
     Other panelists include Don Blewett of the Burton D. Morgan Center for
 Entrepreneurship at Purdue University (West Lafayette, Ind.); Scott Rickert,
 chief executive officer of locally based Nanofilm, LLC; and Sean Murdock, the
 executive director of the NanoBusiness Alliance (New York).
     Organizers of the event anticipate a 15-judge panel will be in place to
 evaluate the submissions and select the finalists by the time NANO Week
 begins.
     The judges will award more than $75,000 in cash prizes to nanotechnology
 researchers from around the world. Awards will be presented in several
 categories, including best overall business idea. The first-, second- and
 third-place winners will receive cash prizes of $50,000, $15,000 and $10,000
 respectively.
     Believed to be the first competition focused on the burgeoning market for
 nanotechnology, the business idea competition differs from traditional
 business plan competitions in that it is simply seeking submissions of
 concepts that have the potential to be profitable, nanotechnology-based
 businesses.
     There is a fee of $100 for each entry a team submits, and there is no
 limit to the number of submissions a team may enter. The deadline for
 submissions is September 27. For more information, including the complete
 rules, visit http://www.nano-network.org/competition .
     Purdue University, InTICE: the Institute for Technology Innovation,
 Commercialization and Entrepreneurship at Case Western Reserve University and
 the Nano-Network, a consortium of nanotechnology-minded scientists,
 entrepreneurs and supporting agencies in Northeast Ohio are organizing the
 event.
     "The International Nanotechnology Business Idea Competition was conceived
 as a means of shifting the thinking about nanotechnology from the laboratory
 to the development of real products and services," said Mark Brandt, founder
 and chairman of the Nano-Network. "The stellar panel of judges we have
 assembled reflects the excitement nanotechnology is generating in the capital
 markets."
     Organizers will invite the 25 finalists here to present their ideas before
 the judges, who will select the winners based on the ability of the business
 idea to fill a need and be commercialized. The winners will be announced at an
 October 29 awards luncheon.
 
     About NANO Week
     The International Nanotechnology Business Idea Competition is the
 culminating event of the first NANO Week which begins October 25 with The
 Cleveland Clinic NanoMedicine Summit 2004, a two-day scientific meeting
 devoted to exploring clinical opportunities for nanotechnology, held at the
 InterContinental Hotel & Conference Center. Following the summit is the
 Nanoparticles Conference organized by the Boston-based Center for Business
 Intelligence, which will address commercialization strategies, regulatory
 issues and leading research involving nanotechnology and pharmaceuticals. A
 third event, The National Cancer Institute's Nanotech Symposium Series, will
 feature presentations by leading scientists in nanotechnology and cancer
 research whose common goal is to advance the diagnosis, treatment and
 prevention of cancer.
 
     About the Nano-Network
     The Nano-Network was formed by scientists, entrepreneurs and financiers to
 improve and expand the nanotechnology research and commercialization
 activities and capacities in Northeast Ohio and throughout the nation.
 
 

SOURCE Nano-Network

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