BPC - Press Release 1998-1999

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Press Release 1998-1999
INTERNET AND SOFTWARE VENTURES WIN WHARTON BUSINESS PLAN COMPETITION

PHILADELPHIA, April 29, 1999 – RadioXchange, a business plan to facilitate the sale of remnant radio advertising inventory through an Internet-based, auction-driven platform, emerged as the grand prize winner of the first Wharton Business Plan Competition. The winning team was awarded a prize of $25,000 ($15,000 in cash and a $10,000 investment in the company), sponsored by Safeguard Scientifics, a Pennsylvania-based venture capital firm.

The competition is sponsored by the Wharton School’s Goergen Entrepreneurial Management Program. More than 350 students from the School submitted business concepts and competed for over $40,000 in awards and prizes. All of the winning teams were technology-based.

Three other business plans were recognized for excellence:

Living Strategies, a web-based system designed to identify an elder’s housing and care needs and match those needs with best-fit housing and care providers, was awarded the $10,000 Snider Seed Prize.
SurgiSoft, a computer system and software designed to simplify surgical procedures as well as improve their cost, safety and efficiency, was awarded the Arthur Andersen Technology Prize of $5,000 for the best technology-based business concept.
QLINX.COM, an Internet platform and suite of applications designed to revolutionize service delivery in case management systems by enhancing service quality, accessibility and cost effectiveness, was awarded a $1,000 prize for the most socially responsible business, sponsored in part by The Wharton Journal.

The finalists presented their business plans to a panel of judges which included entrepreneurs, investment bankers and venture capitalists: Mark Winkelman, Goldman, Sachs & Co.; Michael Bolton, PA Early Stage Partners/Safeguard Scientifics; Ash Lilani, Silicon Valley Bank; David Schlessinger, Zany Brainy and Encore Books; Peter Sears, SROne; Marvin Weinberger, Innovation Factory; Bruce Luehrs, Edison Venture Fund; and Bernard David, the Breakthrough Group.

The Wharton School is recognized around the world for its leadership and broad academic strengths across every major discipline and at every level of management education. Wharton established the world's first integrated curriculum of entrepreneurial studies in 1973. The School now offers 22 courses in entrepreneurship to approximately 2,000 students and executives annually, and supports more than 700 students with major concentrations in entrepreneurial studies. It is among the largest and most diverse programs in the world with 18 scholars and practicing entrepreneurs.

Press Releases Contact:
Peter Winicov
Associate Director of Communications
215-746-6471
winicov@wharton.upenn.edu