Yale University Hosts Its First Annual Y50k Yale Entrepreneurship Competition

Yale University will hold an awards gala to celebrate the entrepreneurial achievement of entrants who have competed for up to $50,000 in cash at its first annual Y50k Yale Entrepreneurship Competition on Saturday, April 8.

Judges representing venture capital firms and non-profits will select winners for two prizes: a $50,000 cash prize in the for-profit category and a $10,000 cash prize for the Social Entrepreneurship Award.

Forty-one teams consisting of professors, alumni, undergraduates, graduate and professional students and Yale employees are competing for cash and services worth over $100,000 following submission of written business plans for their proposed ventures that they presented to a panel of judges. Richard Brodhead, dean of Yale College, will present the awards and Steve Markowitz, founder of MyPoints.com will give the keynote address.

The Yale Entrepreneurial Society (YES) is the founder and leading organizer of Y50k. With the backing of Yale University and sponsors, Y50k furthers progress by providing growth opportunities for companies that will revitalize the community and develop a new generation of business leaders. Participation in the competition by Yale students and affiliates has enhanced the learning opportunities for aspiring entrepreneurs and fostered the entrepreneurial spirit at Yale and in New Haven. Y50k reflects Yale’s dedication to creating economic development in New Haven.

Yale’s Y50k is similar to entrepreneurship competitions operating at MIT and Harvard. YES and Y50k help to enhance the value of good ideas and provide a network to exchange them, yielding many innovations. Going beyond the “dot com–drop out” mania, YES and Y50k choose to build on Yale’s strength in a liberal arts education by providing opportunities for creativity and innovation.

Established in July 1999 by two undergraduates, YES provides educational and networking opportunities to promote new venture creation. YES accomplishes this goal through launching the Y50k Yale Entrepreneurship Competition, hosting speakers, conducting training sessions, publishing a newsletter and pairing students with successful professional mentors. YES also has an initiative to match students with local start-up companies and not-for-profit organizations that need business help. YES members include alumni, undergraduates, graduates and professors.

The advisory board of YES includes Reed Hundt, of Benchmark Capital and McKinsey; Craig Johnson, of Venture Law Group; Bruce Alexander, vice president of the Office of New Haven and State Affairs; David Cromwell, professor and former CEO of J.P. Morgan Capital Corporation; Jim Carlisle, of Primedia Ventures; and Barry Nalebuff, the Milton Steinbach Professor of Economics at the Yale School of Management. For more information on YES and Y50K, contact Miles Lasater, Yale Entrepreneurial Society, 203-675-5928, email: miles.lasater@yale. Additional information is also available on the YES Web site, http://www.yale.edu/yes or http://www.Y50k.com.

Program Information

Keynote/Presenter
Steve Markowitz, founder, MyPoints.com
Richard Brodhead, dean, Yale College

Judges
Graham D.S. Anderson, general partner, Euclid Partners
Jim Carlisle, entrepreneur in residence, Primedia Ventures and general partner, Carlisle Venture Group
Michael Carusi, general partner, Advanced Technology Ventures
Zen Chu, general partner, NetVentures LLC
Henry Fernandez, executive director, New Haven’s Livable City Initiative
Terry Jones, partner, Wiggin & Dana
Frank J. Marco, chairman, Emerging Companies Practice Group, Day, Berry & Howard LLP
Edward J. Nicoll, chairman and CEO, Datek Online Holdings Corp.
Matt Ocko, general partner, Vantage Point Venture Partners

Sponsors
Landor Associates
Carlisle Venture Group
Day, Berry & Howard LLP
Wiggin & Dana
S. Grove & Associates
Datek Online
Primedia Ventures
Bluenet Ventures
Torys
Vantage Point Venture Partners
NetVentures LLC
Euclid Partners

Friends
Setfire.com
Garage.com
New Haven Savings Bank

Associates
Yale Law & Technology Society
Yale Entrepreneurship SIG
Yale Biotech SIG

Y50k Finalists
NotJusTickets
Manufacture Exchange
Universal Registrar
Yellowpen
XMLaw
ErgIT
Equimetrix

Social Entrepreneurship Award Candidates
Generation Net
Artspost.com
Give Smart
The Museum of Money and Financial Institutions
XMLaw

Summaries of Y50k Finalists:

NotJusTickets created a needed service - a marketplace for buying and selling tickets, catering to people whose schedules change at the last minute. In this information age, why are we still following an arcane method for buying tickets?

The Manufacturing Exchange will be the leading online business-to-business (B2B) exchange providing a trading platform for manufacturing capacity and information about manufacturing capability in the contract pharmaceutical manufacturing industry.

Universal Registrar is an Internet Application Service Provider for verification of professional credentials.

Yellowpen is a web-based knowledge management solution.

XMLaw is a knowledge management software and service provider for the legal industry, integrating XML and a new document storage and retrieval standard to provide fast, secure and easy access to legal knowledge.

ErgIT is designing and marketing novel ergonomic exercise systems employing positive feedback to the user in order to prevent Musculo-skeletal Disorders associated with repetitive stress injuries.

Equimetrix, an offshoot of Yale Universities finance research, has developed sophisticated securities trading algorithms that have been experimentally proven to consistently beat the market indices. These proprietary algorithmswill be made available to investors through a hedge fund that uses them to guide its trading activities.

Social Entrepreneurship Award Candidates:

Artspost, Inc. (Artspost.com) is an internet-based career development site for the creative and performing artist, art administrators, and management, founded by two classical musicians in the Spring of 1999. Artpost, Inc. is committed to guiding our clients through the career fulfillment process, form resume and cover letter writing to audition and interview advice, and is currently developing a comprehensive job data base and plans to provide a resume posting service - integrating performance and administrative listings within the same on-line directory.

Give Smart is a B2B internet-based support for not-for-profit (charity, religious and education) management and fundraising. It provides not-for-profits with web-hosting and web-based management tools for web development, posting of calendars and newsletters, event and campaign management, online wholesale auctions and B2B purchasing.

XMLaw is a knowledge management software and service provider for the legal industry, integrating XML and a new document storage and retrieval standard to provide fast, secure and easy access to legal knowledge.

No public summaries were available for Generation Net, The Museum of Money and Financial Institutions, and Wellness for the Homeless.