May 2, 2013

Harvard Business School’s New Venture Competition Announces Winners

“A huge crowd gathered at Harvard Business School’s Burden Auditorium for the school’s annual business plan/pitch contest on Tuesday. Dubbed the HBS New Venture Competition, the event was one of the more spectacular entrepreneur contests held this year. It is certainly one of the most prestigious of the local university startup events…

Additionally, another healthcare focused company, Vaxess Technologies, won the ‘Business Track’ award and $50K in the alumni category. Founded by Michael Schrader, Vaxess, which uses silk-derived proteins to stabilize vaccines without refrigeration, was last year’s ‘Business Venture Track’ winner in the student category.

Schrader said that the company is going to use the prize money to complete some of the studies that are underway on their product and to bring together the teams working on the project in various locales in Boston. After winning two years in a row, he had an interesting perspective on the difference between the student and alumni competitions. Schrader said, ‘It was interesting going from the student competition last year to the alumni competition this year. It seemed like the student competition is based on who has a good plan.’ He added that, ‘The alumni competition is about who has shown the successful execution of that business plan.’”