Indian Winners at Intel + University of California in 2008

The prestigious 4th International 2008 Intel + University of California, Berkeley, Technology Entrepreneurship Challenge (IBTEC) business plan competition was held on 21st November 2008. Two Students from National Institute of Immunology (NII), a premier Biotech Research Center of the Department of Biotechnology in New Delhi, represented India and bagged the second prize at this global competition. Intel Corporation, USA awarded the winning team $10,000.

The project submitted by the Indian team was “Polyskin” – a revolutionary product on artificial skill for healing burn wounds and helping regeneration.

This global competition was judged by a team of venture capitalists from the San Francisco Bay Area. The criteria for selecting projects was focussed on the development of innovative technology products, services with the greatest potential for a positive impact on society backed by a sound business plan.

Polyskin , is a spin-off company from National Institute of Immunology (NII), a premier Biotech Research Center of the Department of Biotechnology in New Delhi. The multidisciplinary team of Polyskin consisted of a bioengineer, medical and pharmaceutical professionals represented by G. Rajmohan and C.K. Anish, both PhD students at NII, working under the guidance of Dr. Amulya K Panda.

Earlier, Polyskin won the India Innovation Pioneers Challenge (IIPC-2008), business plan competition organised jointly by the Department of Science and Technology, Intel India and the bilateral Indo-US Science and Technology Forum in August 2008. The other team from India - Dhama Apparel Innovation (cooling jacket and helmet) was amongst the top nine semi-finalists. After undergoing intensive mentoring in India, the teams were sent to represent India in the international competition at Berkeley.

NeuroMOD Technologies of Singapore, a neurological medical device company was awarded the first place and third place went to SCU Panda Park of China for a new, more environmentally-friendly and ecologically-sound clean leather technology. A team from the U.S., Nano Precision Medical, was named “audience favourite” for its novel technology for delivery of a wide variety of therapeutic molecules.

The competition was held at the Haas School of Business, and 22 teams from 15 countries participated in the competition. The program is designed to spur young entrepreneurs to develop innovative technologies that solve real world challenges, build viable business models, and move technology out of university labs into the market for a positive impact on society. Not only do the winning teams receive cash awards and the winning titles, but its members, along with the other participants, also get direct visibility and interaction with more than 20 leading venture capital firms.

Founded in 2005 by UC Berkeley and Intel, IBTEC seeks to support and promote entrepreneurship globally. This year, business plans included ground-breaking topics such as alternative fuel, a medical device enabling the precise and low-cost delivery of therapeutic molecules to improve patient outcomes, and eco-friendly musical instruments.