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Mtech Announces Winners of the 2011 University of Maryland $75K Business Plan Competition
Date:5/9/2011

COLLEGE PARK, Md., May 9, 2011 /PRNewswire-USNewswire/ -- The Maryland Technology Enterprise Institute (Mtech) today announces the winners of the 2011 University of Maryland $75K Business Plan Competition.

(Logo: http://photos.prnewswire.com/prnh/20101005/MTECHLOGO)

Winning student and faculty teams were selected from 71 initial entries and eight finalists, who gave investor presentations on May 6 to teams of expert judges as well as a public audience of hundreds of students, faculty, alumni, and others from the regional startup venture community at the University of Maryland.

PolyVec Systems, led by bioengineering doctoral student Irene Bacalocostantis and Peter Kofinas, Keystone Professor and associate chair of the Fischell Department of Bioengineering, won $45,000 across three categories. PolyVec is developing a synthetic polymer carrier that delivers therapeutic genes to breast and other cancer cells.

"My experience with the competition has been amazing," says Bacalocostantis. "My first pitch early on was all science. But my mentors, Craig Dye from Mtech and FounderCorps member Donna Harris, helped me focus and gave me a better understanding of how the business plan should be adapted to a business audience. Despite their busy schedules, they were always available to answer my questions and were eager to help. Working with them made the entire process very exciting."

PolyVec won $25,000 and the Lockheed Martin Grand Prize in the high technology/biotechnology category, the $10,000 Maryland Biotechnology Center Best Biotechnology Company prize, and a $10,000 Warren Citrin Social Impact Award.

Bacalocostantis said she plans to further develop her technology this summer through preliminary trials, finish her degree next year, validate marke
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SOURCE Maryland Technology Enterprise Institute
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