April 15, 2016 – The inaugural Lowell Milken Institute-Sandler Prize for New Entrepreneurs has been awarded to a team of five UCLA students for their proposal of an innovative medical technology for the preventative monitoring of pressure ulcers. The Lowell Milken Institute-Sandler Prize of $100,000 recognizes innovation and leadership of UCLA students, and supports the real-world launch of promising new business ventures.
The winning team included UCLA School of Law student Jonathan Lavi ’16 and Francis Lin ’18, Jonathan Massachi ’18, Eric Pan ’18 and Patrick Xu ’18, from the UCLA Henry Samueli School of Engineering and Applied Science.
The students won for their new business proposal for PasCARE, a medical device that will notify caregivers via an app when a patient is at risk for developing pressure ulcers, commonly known as bedsores.
“The final round of the competition was everything that we hoped it would be, and each team made an excellent presentation – showing lots of energy and hard work, great ideas and talent,” said Joel Feuer, executive director of the Lowell Milken Institute for Business Law & Policy. “The judges asked some tough questions about each of the new ventures, and really wrestled with their decision, the teams were all so good. Our inaugural competition has created a solid foundation for next year’s competition for the LMI-Sandler Prize.”
Five student teams competed in the final round of the LMI-Sandler Prize, which is sponsored by the Lowell Milken Institute for Business Law & Policy. The Lowell Milken Institute-Sandler Prize of $100,000 is the largest university entrepreneurship prize ever to have been awarded through a law school.
The finalists were selected by a panel of judges who reviewed business plan submissions from 15 teams and narrowed the finalists down to five teams in March. Each of the final teams, which consisted of between two and six students, were allowed 25 minutes to present their venture and answer questions from the judges at the public round of the competition.
In addition to $100,000 in funding to help launch the new business venture, the winning team will also receive a one-on-one hour-long consultation with each of two investors: Jim Armstrong, managing director of March Capital Partners and Michael Silton, managing director of Act One Ventures and chair emeritus of UCLA Venture Fund, will contribute their time and expertise.
About the Lowell Milken Institute for Business Law and Policy
The Lowell Milken Institute for Business Law and Policy at UCLA School of Law supports the law school’s Business Law and Policy Specialization. It works with UCLA Law’s preeminent business law faculty in broadening curricular offerings and providing co-curricular programs for law students. In addition, the Lowell Milken Institute provides a forum for the business and legal communities to discuss cutting-edge issues and develop policy solutions to business and legal problems.
About UCLA School of Law
Founded in 1949, UCLA School of Law is the youngest major law school in the nation and has established a tradition of innovation in its approach to teaching, research and scholarship. With approximately 100 faculty and 970 students, the school pioneered clinical teaching, is a leader in interdisciplinary research and training and is at the forefront of efforts to link research to meaningful change in society and the legal profession. Follow us on Facebook and Twitter.
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