Navigation Links
University of Maryland Company Trauma Solutions Named Finalist in $250K Draper Fisher Jurvetson and Cisco Systems Global Business Plan Competition

COLLEGE PARK, Md., June 25 /PRNewswire-USNewswire/ -- Trauma Solutions, a company developing the first and only synthetic, hemostatic material capable of simultaneously inducing blood clotting and delivering therapeutics, has been named a finalist in the $250K Draper Fisher Jurvetson and Cisco Systems Global Business Plan Competition.

The company, founded by graduate research assistant Brendan Casey and Keystone Professor Peter Kofinas, both from the Fischell Department of Bioengineering, along with Adam Behrens, an undergraduate research assistant from the Department of Chemical and Biomolecular Engineering, is one of 16 finalists from fifteen different schools in six countries. Finalists were selected from thousands of eligible business plans in nine countries across the globe.

Trauma Solutions, formerly called Haemechanics, took first place and $20K in the University of Maryland $75K Business Plan Competition in the life sciences division on May 8.

"We are very excited to be selected as finalists for this prestigious international business plan competition," says Kofinas. "This will result in higher visibility for our hemostatic product and an opportunity to network with one of the nation's premier venture capital firms and a technology industry leader. We are grateful to Jim Chung, director of the Mtech VentureAccelerator program, for his help and coaching."

Trauma Solutions' hemostatic (stops bleeding) material is able to induce clotting as effectively as biologically based products at a fraction of the price. Its capability to simultaneously deliver therapeutics in a regulated manner makes it completely unique to the market and in line with the specific demands of commercial, next generation hemostatics and military-grade blood coagulation materials for use on the battlefield. Trauma Solutions was founded to develop an advanced line of hemostatic products based on this material.

Finalists for the Draper Fisher Jurvetson and Cisco Systems Competition will compete from their respective geographic areas via Cisco TelePresence(TM) on June 30. The winning team will receive a minimum seed investment of $250,000.

"The selection of Trauma Solutions as a finalist for this competition only corroborates and reinforces the qualities that judges saw in the company just last month when it walked away with a first place prize in our own rigorous competition," says Dean Chang, director of the Maryland Technology Enterprise Institute's ventures and education programs. "Trauma Solutions is yet another example of the importance of university venture creation resources and programs like those at the University of Maryland that act as launch points for promising technologies with genuine potential to address billion dollar needs and pain points in our society."

Finalist selection was based on various criteria including quality of management team, technical innovation, addressable market size, competitive positioning, barriers, capital efficiency, and financial projections. Most finalists are still in the early stages of business development. In addition to the financial investment awarded to the winner, both DFJ and Cisco will assist the winner and finalists in leading the next wave of disruptive technologies by providing mentorship and professional assessments regarding their submissions.

"Clearly global innovation doesn't stop for recessions," says Tim Draper, managing director, DFJ. "These promising candidates are reminding us that there are pioneering companies out there, even in difficult times, and we hope that one of these teams creates the next Skype, Google, Facebook, Baidu or Cisco. This competition fosters a culture of entrepreneurship that has a lasting impact, and its benefits are felt not just by the winning team but by all participants. We look forward to continuing meaningful ties with all of these young entrepreneurs in the future."

Competitors and the media will be invited to view the competition via simulcast beginning at 8 a.m. PDT on June 30, and the winner will be announced at 6:30 p.m. PDT the same day.

About the Maryland Technology Enterprise Institute (Mtech)

The mission of the Maryland Technology Enterprise Institute (Mtech) is tri-fold: educate the next generation of technology entrepreneurs; help entrepreneurs create successful technology-based ventures; and connect Maryland companies with university resources to help them succeed. Founded in 1983, Mtech has had a $19.6 billion cumulative impact on the Maryland economy through its programs. Mtech is a unit of the A. James Clark School of Engineering at the University of Maryland.

SOURCE University of Maryland
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. University of Leeds wins $18 million funding to improve the quality of our old age
2. Case Western Reserve University Receives $5M From Third Frontier Commission for the Center for Stem Cell & Regenerative Medicine
3. Veran Medical Enables Breakthrough 4D Navigation to Cancer Lesions at University of Virginia Hospital
4. Morning People and Night Owls Show Different Brain Function: University of Alberta Study
5. McGill University receives almost $63 million under CFI program to support 5 research projects
6. AACR CEO Margaret Foti receives honorary M.D. from the University of San Pablo CEU
7. Herzing University, Minneapolis Receives Board of Nursing Approval
8. Prostate Cancer Active Surveillance Protocol Clinical Trial Conducted by NorthShore University HealthSystem
9. Hebrew University research leads to advanced trials of new cancer treatment
10. Western Governors University Offers Special Nursing Scholarships for Employees of Hospital Partners
11. University HealthSystem Consortium Selected as Greenville Hospital Systems Supply Chain Partner
Post Your Comments:
(Date:10/13/2015)... ... 2015 , ... Tempe Dental Care, a leading Tempe dentists’ office, celebrates offering ... dentistry for more than 5 years. A leading cause of emergency room visits, ... treatment is not timely. , Sedation dentistry provides an anxiety-free dental ...
(Date:10/13/2015)... (PRWEB) , ... October 13, 2015 , ... Local Gold’s ... Gold’s Gym International Conference on August 26. Berry, who owns and operates Gold's ... for the fastest growing Gold’s Gyms in the United States. A brand leader in ...
(Date:10/13/2015)... , ... October 13, 2015 , ... ... Bill Saye as the newest professional to introduce the latest development, ThermiVa® temperature ... recognized as a leading professional in Obstetrics and Gynecology and a pioneer in ...
(Date:10/13/2015)... ... 13, 2015 , ... In an ongoing effort to provide ... Southlake, Texas, child development and pediatric therapy center, is working with TRICARE to ... their options for receiving this kind of care for affected children. Because of ...
(Date:10/13/2015)... ... ... Just under three months ago, eMarketing Concepts forever changed the ... offering all of their services for just a buck in the first month. The ... calls from interested buyers. As a genuine one-stop-shop for internet marketing, EMC has cornered ...
Breaking Medicine News(10 mins):
(Date:10/13/2015)... , Oct. 13, 2015  EndoChoice Holdings, Inc. ... third quarter 2015 financial results on Thursday, November 5, ... . --> . ... Thursday, November 5, 2015 at 9:00 a.m. ET to ... for domestic callers and (412) 317-5469 for international callers. ...
(Date:10/13/2015)... , Oct. 13, 2015   Rosa & ... firm in Quantitative Systems Pharmacology (QSP)/ PhysioPD™ , today ... will lead a workshop at the QSP Congress ... Boston, MA.  The conference focuses ... drug development.  Dr. Friedrich,s workshop is entitled "Using Mechanistic ...
(Date:10/13/2015)... 13, 2015  Yesterday Congresswoman Renee Ellmers ... manufacturing site located in Holly Springs, NC ... produced Flucelvax ® (Influenza Vaccine) using cell-culture technology, a ... start-up and is not reliant on chicken eggs. 1,2 ... influenza vaccines business of Novartis AG in the US, ...
Breaking Medicine Technology: