Iowa State University

5-20-97

Contacts:
Gary Koppenhaver, College of Business, (515) 294-8119
Michelle Johnson, News Service, (515) 294-8986

ISU GRADUATE STUDENTS REAP BIG REWARDS IN ENTREPRENEURIAL CONTEST

AMES, Iowa -- Two teams of Iowa State University graduate business students are $8,000 richer after winning the New Venture Graduate Competition sponsored by ISU's College of Business. Iowa is also a winner, as new start-up firms may result from the competition.

The competition challenged graduate students to create their own business plans for a new company. The companies could be based on licensed technology from the Iowa State University Research Foundation (ISURF) or a concept developed by the students. The plans were reviewed and voted on by a panel of judges from the College of Business faculty and members of the Ames business community.

The winning plans were "Engineered Manufacturing, Inc." and "Precise Measurements." "Engineered Manufacturing, Inc." is a company which would produce high quality powder metal using technology developed at the Ames Laboratory and Iowa State University. The powder metal can be used in the parts, electronics and solder industries. "Precise Measurements" is a business centered around the development and marketing of high technology measuring devices for corn and soybean seed quality labs.

"Local economic development opportunities and technology- based firms were given priority in this competition," said Gary Koppenhaver. "Both winning plans are likely to result in start-up firms."

Students submitting the "Engineered Manufacturing, Inc." plan are John Moore, Lansing; and Troy Koerselman, Ankeny.

Chad Patterson, Elgin, and Jeff Steiber, Lansing, both undergraduate students in the College of Engineering, also contributed to the project. "Precise Measurements" was submitted by Gary Beeler, Peru; Daniel Curry and Richard Larson, both of Ames.

Information about the graduate student competition can be found on the Web at http://www.public.iastate.edu/~isubuscoll/ISURF1.htm.

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