Composite manufacturing business plan team earns grand prize in first OSU Riata Business Plan Competition

Wednesday, April 28, 2010

Metcel, LLC earned top honors in the first Riata Business Plan Competition at Oklahoma State University this weekend. Jay Hanan (left), presents the $25,000 grand prize to Metcel, LLC team members G. Ranjan Mahadevan, Advait Bhat, Balaji Jayakumar and Amir Bhochhibhoya.
A business plan team that proposes to penetrate the honeycomb manufacturing segment of the composite manufacturing industry by producing lightweight, high-strength materials to aircraft manufacturing markets was the grand prize winner in the Riata Business Plan Competition at Oklahoma State University. The team, called Metcel LLC, won $25,000.

The “What’s Your Big Idea?” competition began in December, when 96 teams of OSU students entered the contest. Teams were required to submit their business plans throughout a series of deadlines throughout the spring semester. Throughout the competition, teams received feedback and assistance from the OSU School of Entrepreneurship and the Riata Center for Entrepreneurship in the Spears School of Business, including a weekly business plan writing lab, mentoring from faculty experts and accounting and law firms, and access to online resources and a video library of successful business plan presentations.

The final business plan submissions were judged by faculty in the School of Entrepreneurship. The judges assessed the proposed concept’s strength, market, economics, operations, management and financing, and sixteen teams were selected to advance the next round of the competition. They then presented to a group 19 successful entrepreneurs and venture capitalists, who cut the pool to four teams. The “Final Four,” was held on April 24 on the OSU campus in Stillwater, and judged by a separate pool of distinguished entrepreneurs. The panel of judges for the finals consisted of noteworthy entrepreneurs and business people from across Oklahoma, including Malone Mitchell of Riata Management, Carl Thoma of Thoma Bravo, Joe Eastin of ISNetworld, Rhonda Hooper of Jordan Associates, Jack Allen of CFR, Inc., Russ Teubner of HostBridge Technology and MVL Prasad of Artexa, Inc.

Finalists teams included:

Metcel LLC:
Balaji Jayakumar, mechanical engineering student
Amir Bhochhibhoya, MBA student
Adrait Bhat, mechanical engineering student
G. Ranjan Mahadevan, mechanical engineering student

Integ Medical Devices, LLC:
Jaihari Rajendran, MBA student
Aditya Machani, MBA student
Yolando Odenyo, international business student

Turnout Solutions:
Donald Bowman, fire protection and safety student
James T. Bradley

Relief Moms
Kenneth W. Graham, MBA student
Merritt Witney-Graham

The grand prize went to the Metcel LLC team, whose plan the judges determined represented the best potential for growth and for attracting outside financing.

Second place and $10,000 went to Integ Medical Devices LLC, a team that proposed to designed and market an innovative intravenous catheter that will reduce secondary infections in patients, saving costs to both patients and hospitals. Third place and $5,000 went to Turnout Solutions, a team that seeks to provide quality, hassle-free services that allow fire departments to conform to the National Fire Protection Association’s standards for turnout gear, the flame-resistant coats and pants worn by firefighters.

An additional $1,000 prize was given to Metcel LLC for having the best technology-based venture. The Doer and Dreamer Award, which is awarded to the team that has best moved their idea toward implementation, went to G4Social and team members Claude Kershner and Grant Harman. The Entrepreneurial Spirit Award, which is awarded to the team that best reflects the attitudes and mindset of the entrepreneur, went to Nambari Search and team member David Sikolia.

For more information about the “What’s Your Big Idea?” Riata Business Plan Competition, call 405-744-7552 or visit http://entrepreneurship.okstate.edu/bpcompetition.