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Feb. 9: Sustainable Technology Award Added to McGinnis Venture Competition

Contact: 

Geof Becker
412-268-3486
gbecker@andrew.cmu.edu


Sustainable Technology Award Added to
McGinnis Venture Competition at Tepper School

Tepper Alum Sponsors New Sustainable Award and Travel Scholarships To Attract Global Teams

PITTSBURGH—A new Sustainable Technology Award has been added to the 2007 McGinnis Venture Competition at Carnegie Mellon University's Tepper School of Business, joining the Technology and Life Sciences awards at the prestigious international business plan competition. Hosted by the Donald H. Jones Center for Entrepreneurship at the Tepper School, the 2007 McGinnis Venture Competition will be held March 15–17.    

Funding the Sustainable Technology Award in its inaugural year is Sarosh Kumana, a 1977 Tepper School MBA alumnus, who is also sponsoring travel scholarships for eligible teams to help ensure as diverse a field of entrants as possible. MBA students worldwide are eligible to apply for the travel scholarships. For more information about the travel scholarships, contact the Jones Center at djc@andrew.cmu.edu. The application deadline is Feb. 21.    

"Business can be a positive force for creating global sustainability," said Kumana, who founded Sustainable-Future.org to help stimulate sustainable business ideas. "By sponsoring the Sustainable Technology Award and offering the travel scholarships, we want to help entrepreneurial-minded MBA students from everywhere in the world propose new enterprises that promote global sustainability. For such enterprises to survive and expand, they must be profitable, too. Thus, self-interest becomes congruent with the public interest."    

The Sustainable Technology Award will be judged on the same criteria as the Technology and Life Sciences awards, including assessment of originality and profitability. In addition, judges will evaluate entrants for sustainability, considering such factors as carbon neutrality, climate change mitigation, energy efficiency, materials and water usage. Competitors must also be prepared to discuss and analyze metrics by which sustainable benefits can be quantified.

Up to $125,000 in cash and business services will be awarded to the McGinnis Venture Competition winners, including $15,000 in cash and $15,000 in services for the Sustainable Technology Award. Winners will also be automatically entered in the Moot Corp® Competition and given special access to Pittsburgh-area early stage investors for up to an additional $200,000 in investment opportunities.    

The annual McGinnis Venture Competition is made possible by an endowment from Gerald E. McGinnis, a successful entrepreneur and founder of Respironics Inc.

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