Berkeley MBAs Conquer the 'Jungle'

Courtesy of AtNewYork.com
April 30, 2002

A team of business school students from The University of California took top honors in MBA Jungle magazine's second annual Business Plan Challenge in New York.

Adaptic Systems, Inc., founded by a team of business school students from University of California, Berkeley's Haas, won the Grand Prize of $25,000 from Jungle Media Group, the publisher of the career focused magazine which sponsored the event.

Adaptic Systems' team members developed imaging technology enabling eye doctors to correct vision to a level not previously possible,and also allowing earlier detection of disease. The optics technology also has applications for telecommunications and any application where clear light transmission and reception is required.

The runner-up prize went to Xoran Technologies from the University of Michigan's business school. Team members developed a small, portable and inexpensive CAT scanner for use in specialty medical practices. As a result, people requiring CAT scans will be able to find more convenient locations for diagnosis.

Jon Housman, co-founder and CEO of Jungle Media Group said he was extremely pleased with the level of participation and the quality of the submissions at this year's competition.

The challenge also attracted some of the top venture capitalists in the country, and groups from 86 business school programs from around the world. In all, 225 teams competed to be one of 9 finalists at the event.