Boise State University MBA team, BrewPRO, won the Nemec Elevator Challenge at the 2014 Global Venture Labs Investment Competition, held in Austin, Texas over the weekend. Forty teams from around the globe sent their premier business students to compete for awards and cash prizes in recognition of best business plan and business pitch. For their win, the Boise State team brought home a cash prize of $1,500.
BrewPRO is a student created company that offers all-in-one home brewing kits that allow home-brewers to overcome current pain points by focusing on simple systems, a supportive online marketplace and successful beer brewing. The team is made up of five Career Track MBA students: Kyle Mulder, Remington Turner, Mark Rogers, Thomas Atkins, and Hannah Derrick. Kent Neupert, professor in the College of Business and Economics and director of the Center for Entrepreneurship, was the team coach and advisor. The team was sponsored by the College of Business and Economics and the Center for Entrepreneurship.
Student teams participated in a venture tradeshow in which they presented their businesses and products to experts in the field. BrewPRO gained recognition at this event with genuine interest in their unique home brewing product offering. BrewPRO went on to compete in an investment pitch round presenting the business idea to a panel of six venture capitalists. Mulder, graduate assistant at the Center for Entrepreneurship, represented the team in the elevator pitch round, winning the cash award.
The Global Venture Labs Investment Competition is the top competition for student-founded ventures. Now in its 31st year, it brings the top 40 student teams from around the world to Austin Texas to pitch their ideas to venture capitalists for prize money and venture capital investment. This year’s Grand Prize winner was Innoblative Designs, a Northwestern University team that commercializes an innovative technology for the treatment of early stage breast cancer.