R2EV, a team of Boise State University business students, finished strong in a competitive field of 20 international universities at the New Venture Championship, hosted recently by the University of Oregon’s Lundquist Center for Entrepreneurship.
R2EV took second place overall for the “best elevator pitch” and was division winner for “best presentation.” R2EV’s Fuel 2.0 product is a portable energy storage solution with applications in several industry settings. The technology for the product was developed by Boise State student Alex Livingston, and the team includes MBA candidates Marcel Wermeckes and Thomas Schoeck.
The competition, which played out over three days, required teams to present their ideas for new business start-ups to panels of investors and entrepreneurs acting as judges. Each team was required to prepare a written business plan for review and present their ideas to three different sets of judges. With a total prize package of more than $60,000, awards were given for categories such as “best elevator pitch” (a 60-second summary presentation of the business opportunity), “best written business plan” and “best presentation” in several divisions.
Other participating universities included: Brigham Young University, Cornell University, Georgia Institute of Technology, Hong Kong University of Science and Technology (China), Johns Hopkins University, Purdue University, San Diego State University, Chulongkorn University (Thailand), Carnegie Mellon University, Thammasat University (Thailand), University of Arkansas, University of British Columbia (Canada), University of Illinois at Chicago, University of Louisville, University of Manitoba (Canada), University of Oregon and University of Texas at Austin.