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MIT water preservation start-up wins Rice Business Plan Competition

By Jesse Schwartz
Published: April 11th, 2018

A start-up from the Massachusetts Institute of Technology (MIT) has taken the top prize at the 2018 Rice Business Plan Competition (RBPC), the world’s top student start-up contest.

Infinite Cooling took home nearly $500,000 in cash and prizes, beating out 41 other competitors with its technology that uses electric fields to recover and recycle evaporated water from cooling towers.

The total amount awarded at the event exceeded $2 million, with start-ups hailing from universities including Harvard, the University of Texas, Georgia Tech, Northwestern, Brigham Young University, the University of Arkansas and UC-San Diego.

The teams were divided into four categories: life sciences, information technology/web/mobile, energy/clean tech/sustainability, and tech innovation. According to Brad Burke, managing director of the Rice Alliance, this year’s field of competitors was among the most diverse in the history of the RBCP. Each team delivered a 15 minute investment pitch and a rapid-fire 60-second elevator pitch to a panel of judges, who then chose six finalists.

In addition to funding, prizes awarded to the RBPC finalists include marketing services, business plan software, search engine optimization tools and more.

Source: Newsroom America

Posted under: Tech Transfer e-News

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