Student companies awarded prize money

By Joshua Walovitch

05/12/2008- The Daily Collegian

The third annual Technology Innovation Challenge was held at the Lincoln Campus Center of the University of Massachusetts last Thursday.

The Technology Innovation Challenge (TIC), created by Dean of College of Engineering Michael F. Malone, works towards the successful integration of management, science and engineering.

"We have had an interest in finding ways for research projects here at the University to become more mainstream in society," said Malone.

This year's winner was Therapeutic Systems, fronted by doctoral student Brian Mullen. Therapeutic Systems is a company that makes therapeutic vests and other devices that relieve people suffering from anxiety disorders. He and his team were awarded $50,000 to spend on developing their business.

Engineered Response, comprised of UMass students Brycen Spencer, Hendalee Wilson and Tom McDevitt were also awarded $15,000 for their business proposal.

Engineered Response is a company that plans to make Wireless Impact Gardiens (WIG's) that would be implemented into safety helmets. These helmets, nicknamed "The OnStar of Helmets," automatically call 911 in the event of an accident.

The TIC promotes innovation education based on technology conceived by faculty, students and alumni of UMass Amherst. This year, five teams competed for prizes that totaled up to $80,000. Much of this money was donated by alumni and friends of the University.

The competition was judged by over a dozen professionals in the fields of business and technology, including entrepreneurs, legal experts and consultants.

"We are looking for the most innovative, significant and promising projects," commented Henry Gibson, a judge from SABIC Innovative Plastics.

The TIC is comprised of two phases. Phase one takes place during the fall semester. It is a similar competition, but there are a greater number of teams participating and the projects are in the early idea stages. The advancing teams of that competition then move on to the spring semester competition and use that time to further develop their projects.
"These teams are developing very early stage ideas. Often, the way companies get started is that someone has an idea, and then all that is needed is a little money to prove it out," added Malone.

In addition to the judges' choices, the audience can vote, too. Comprised of over 70 people this year, the audience voted on its favorite and most promising company and awarded Rentabilities, comprised of Alexander and Andrew Cook, $7,500 towards their company.

Rentabilities is an online store that brings rental companies into the Internet age, making it more convenient for people to rent and rent out items. It is similar to Amazon.com, but it is used for rental purposes.

Previous winners include last year's Condition Engineering, who proposed a company that would monitor and provide failure warning systems for earthen structures. Two-years ago, Pharma Solutus won with its proposal of a company that would develop drug delivery platforms for targeting cancer and making chemotherapy more effective.

Joshua Walovitch can be reached at jwalovit@student.umass.edu.