REFLECTIONS FROM PAST PARTICIPANTS
About the LES Foundation Competition Experience…
2009 Finalist, Stephen Dunlap, PassPro-tech, University of Texas-Dallas
"Some of the key take aways from the LES Foundation Competition was the preparations for the licensing aspect of our technology. Prior to this Competition we really looked at the implementation strategy with direct sales as opposed to licensing our technology out. So this really gave us the opportunity to go back and rework our plan and figure out how we could license our technology. That was the biggest things for us. And we will probably take that and implement that as part of our strategy overall as we go into the marketplace."
"A lot of us are new to the game and it's nice to have experienced entrepreneurs and experts in their respective industries suggesting how they think we should go about this effort."
"It is really nice that LES pays for us to come out. And the fact that there is just one presenting round is unique. There was also more time to interact with the judges."
2009 Finalist, Ben Morrow, PassPro-tech, University of Texas-Dallas
The judges here have been phenomenal. They have been better than any of the judges we have seen at our other competitions. Specifically, because we got great written feedback from the first round of judges before arriving for the finals. Then, during the finals for every team the judges found something that the team needed to work on and they were able to give the team ideas about what they should do in the future. It felt less like an evaluative process and more like an idea generating process. That was really beneficial and it pushed us to really keep on going and to keep on trying to success at this entrepreneurship venture.
2009, Winner, Chris Shoemaker, Pax Neuroscience, University of Illinois-Chicago
"It's unique to participate in a competition where people understand exactly what we're talking about. We've participated in a lot of competitions and the LES judges have been second to none. They have given us extremely constructive feedback and guidance that will be tremendously helpful as we move forward."
2009 Global Award Recipient, Peter Bares, Poppet International, Pty., Ltd.
The competition is a credit to the LESI, not only is it well run and facilitated but it provides a valuable learning and networking experience. As the Global LESI winner the benefits to my business have been numerous. The prestige and validation of the business model the award brings serves as a concrete reminder of the value we are working to generate.
Seth Jones, Team Advisor to Swinburne University of Technology-Australia
"This Competition offers the students a lot of opportunities on an international scale to widen their networks. One of the key realities in our marketplace is that you have to do business off shore if you really want to grow your business. You can't grow it or get to that critical mass locally. The add-on benefits of being involved in the LES Conference after the Competition is also of significant benefit to the students."
Linda Chao, Office of Technology Licensing, Stanford Univ., & Chair of the Competition
"Our judges had a tough job. This was a very competitive group of committed, entrepreneurially-minded students who developed really impressive business plans around cutting edge technologies."
Ada Nielsen, 2009-2010 President, LES (USA & Canada), Inc.
"The Business Plan Competition puts us in the lead of attracting some of the brightest and the best around the world to learn the language and the importance of inventions, IP and licensing in creating value in business enterprises. As for LES members, it energizes us to work with local teams of graduate students and professors and to interact with the finalists at the Finals. Please join us."
Arthur S. Rose, LES Foundation President
"In today's competitive business environment constant innovation is a requirement for survival. We believe it is critical for students to understand the licensing tools available for intellectual property commercialization in order to promptly capitalize on the value of innovations as they are developed."
Pat O'Reilley, 2009-2010 President, LES International (LESI)
"In today's global business, IP transactions are a critical component, and the Business Plan Competition
focuses on that component. LESI supports the Competition as an extension of its purposes--education
and networking. International student competitors and LESI members gain from studying the impact of
IP transactions in global business plans and from connecting tomorrow's business leaders with today's
licensing professionals."
Sandra Miller of the Kauffman Foundation and LES Foundation Board Member
"Unlike most student business plan competitions, the LES Foundation's Graduate Student Business Plan Competition uniquely focuses on the critical role that intellectual property licensing plays in business strategy, which is critical for success in these economic times."
About PDS 100 Course…
2009 Finalist, Keith Solsvig, Gound Up Biosolutions, University of Arkansas
"The LES Foundation Business Plan Competition was excellent in terms of getting you exposure to the judges and other contacts within the industry so that you can really use that to gain information as well as to build contacts and network. The second highlight is the educational component of the Competition. The PDS 100 course was excellent in terms of giving us some knowledge about how we need to structure deals going forward and how we need to look at all of the IP as well as licensing opportunities we might have with our company."
2009 Finalist, Brandon Barr, Ground Up Biosolutions, University of Arkansas
"I think what differentiates this competition from other competitions we've been to is that LES looks to educate you and to help make your business more successful in the future. No one else actually puts on a course where you get to learn about something specific that's going to help your business. LES puts on the PDS 100 course which has been very beneficial in helping us understand our business better and what we need to do to make ourselves more successful."
2009 Finalist, Josh McCullough ,Ground Up Biosolutions, University of Arkansas
"The key thing that I will take away from this Competition is the importance of IP and the different elements of protecting the IP. I was assuming a lot more risk than I realized. Knowledge is the first step and taking steps to reduce that risk. I've acquired a lot of tools I'll be able to out in my kit bag as I move forward in business development."
2009 Winner, Aben Cooper, Pax Neuroscience.
"After we had our business plan developed, I attended the PDS 100 course in Chicago and I learned a lot about licensing and royalties. I also used my student LES membership to get online and look at the Royalty Rate Survey. I used all of this information to enhance our business plan in preparation for the LES Foundation Competition and we have kept it in the plan ever since."
"The networking at LES may be the most important thing that came out of this experience. Lots of people have shown an interest in this technology and this general area of health."
