UA Team That Includes Law Student Wins Big at Business Plan Competition
Posted on April 10, 2014
LumaDrop, a team from the University of Arkansas that has developed a plan to commercialize an eye drop for macular degeneration, took the $25,000 first place prize Wednesday in the graduate division at the 2014 Donald W. Reynolds Governor’s Cup Collegiate Business Plan Competition.
LumaDrop’s team includes:
- Neil Bora, a third-year student in the School of Law
- Randy Espinal Cabrera, a doctoral student in the department of chemistry and biochemistry in the J. William Fulbright College of Arts and Sciences
- Joe Huff, an M.B.A student in the Sam M. Walton College of Business
- Brad Phelan, an M.B.A. student in Walton College
LumaDrop led a U of A sweep of the top three places in the graduate division in the 14th annual competition. UA team DataVis finished second and won $15,000. UA team HemaNotics was third and took home $10,000.
The U of A has won the graduate division at the Governor’s Cup 11 consecutive years, and placed the top three teams in the graduate division in four of the last five years.
This year, 36 teams submitted business plans from 13 colleges and universities from across Arkansas for a chance to win a share of the $154,000 prize pool. Prizes in the competition were awarded at a luncheon at the Statehouse Convention Center in Little Rock.
LumaDrop finished third at the 16th annual IBK Capital-Ivey Business Plan Competition, held in January at the Richard Ivey School of Business at the University of Western Ontario.
LumaDrop and two other UA teams will now compete against the top two graduate and undergraduate teams from Nevada and Oklahoma for the Donald W. Reynolds Tri-State Award on May 23 in Las Vegas.