Plasma Bionics, a business formed by students in the Student Startup Central at Oklahoma State University, was recognized as one of the top teams at the Baylor Entrepreneurship New Venture Competition on Feb. 27-28.
Plasma Bionics received $7,500 by placing third out of the 85 teams participating in the business plan competition. Kedar Pai, a doctoral student in mechanical engineering; Chris Timmons, a doctoral student in plant pathology, and Rohita Mal, a former master’s student in MSIS, made the trip from Stillwater to Waco, Texas for the competition sponsored by the Hankamer School of Business at Baylor University. Two other members of the team, Anuashka Sharma and Prateek Khare, were unable to make the trip.
“It feels great to have participated and placed third in a nationally reputed business plan competition, especially among some very competitive companies with attractive business ideas,” Pai said. “Winning this award doesn’t just give us a monetary benefit but also additional in-kind services like legal assistance and web resources which are very helpful to a new startup such as ours.
“Winning third place among 85 teams is an exhilarating feeling indeed but we understand that this is just a stepping stone in the story of our venture and we intend to accomplish much more by working even harder. A strong support by the faculty here at OSU and a conviction to make this venture a success, which my team possesses, will definitely help us do the same,” he added.
Plasma Bionics is a provider of plasma technology-based sterilization products. The group has developed and tested a new sterilization technology that is not only faster and easier to use but uses no chemicals. The technology is designed toward heat sensitive equipment not just in dental clinics and hospitals but also mobile applications such as doctors without borders.
The OSU team submitted a five-page executive summary in November and was selected one of the top 12 teams. Each of those 12 teams was asked to give a 90-second elevator pitch on Friday night, and Plasma Bionics placed fourth.
On Saturday morning, the teams gave a 10-minute presentation followed by up to a 10-minute question-and-answer session by the panel of judges. Plasma Bionics was selected as one of the top five after that session, and finished third overall.
“Plasma Bionics did a wonderful job presenting their business opportunity and we are very proud of them,” said Richard Gajan, Thoma Family Distinguished Clinical Professor in the OSU School of Entrepreneurship and adviser to the group. “It is a real pleasure to work with students from engineering and biology as well as business. They worked very well as a team.”
Plasma Bionics is an Oklahoma Limited Liability Company registered in March 2012. It operates out of the Student Startup Central, the student business incubator operated by the Riata Center for Entrepreneurship and the School of Entrepreneurship at OSU.