Five teams have advanced to the final round in Duquesne University’s New Venture Challenge competition, a competition from Duquesne's Palumbo-Donahue School of Business that offers cash and service prizes valued at more than $100,000 to aspiring entrepreneurs, whether they are from Pittsburgh or elsewhere. In February, the university announced the 17 teams that had made it to the semi-finalist round.
Advancing teams include medical smart sensor designer and manufacturer Advanced Optronics LLC, cerebral aneurysm diagnostic test makers CAT-7, water-soluble and edible packaging maker DisSolves, physician-focused and continuing education subscription box makers SimBOX and catheter insertion assisting device makers InnovatiVe.
All five teams will win monetary awards pending placement, with first place earning $15,000, while second place earns $8,000 and third place earns $6,000. Fourth and fifth place will each earn $3,000. The five teams will give their final presentations on April 23 before ranking will be determined.
“Once again, the Duquesne New Venture Challenge has produced a most impressive group of finalists who are offering solutions to important problems using creative and novel technologies,” Business Dean Dr. Dean McFarlin said in a prepared statement. “I am struck by the potential for wide impact that these solutions represent, and I am proud of the fact that some of the finalist teams include current Duquesne students.”
The first through third place finishing teams will also receive additional prizes and support from the university, including legal services from its School of Law, business consulting services from Duquesne’s Small Business Development Center and meetings with faculty at the university's business school.
Now in its third year, the competition accepts all business ideas from those in the Pittsburgh region and beyond. Four of this year's semifinalists include Duquesne alumni or current students.
