Marketing & Communications
Division of University Relations and Development
News Release
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SDSU Technology Team Rings Opening Bell on NASDAQ Contact:
A San Diego State University MBA student technology team rang the opening bell on NASDAQ on Friday, August 10 as part of their grand prize for winning the prestigious 2007 Moot Corp Competition earlier this year. Omega Sensors, led by SDSU MBA students Brad Chisum and Nick Rhea, beat out 34 teams from other top MBA programs around the world, including competitors from UCLA-Berkeley, John Hopkins and Carnegie Mellon, to claim the Global Champion prize. The opening bell ceremony took place at 6:15 a.m. PST at NASDAQ’s MarketSite in Times Square in New York City. “I’m really looking forward to saying ‘Let the trading begin,’” Chisum said. Omega Sensors was formed after Chisum enrolled in a technology assessment course through SDSU’s Entrepreneurial Management Center. Omega Sensors is commercializing a new sensor technology developed by the military. Applications include seismic imaging (oil exploration), navigation, and industrial monitoring. “Preparing for this competition gave us a disciplined way to create our business plan and build the foundation for the company,” said Chisum. “Winning the competition has opened many doors, giving us access to potential funding sources and customers.”
The Moot Corp Competition began at the University of Texas at Austin by MBA students in 1984. It is the oldest new venture competition in the world, and provides MBA student teams with a chance to simulate the real world process of raising venture capital. As part of the grand prize, the SDSU student team also received a prize package worth $100,000; the reward includes $25,000 in cash, strategic business consulting services and mentoring from a team of industry experts, office space, and access to discounted legal, accounting, and businesses services from top-tier providers from Austin Technology Incubator. Also provided are prosecution of the first American patent by Ropes & Gray, and consulting with the McCombs School of Business entrepreneurship faculty. In May, Omega Sensors, soon to be renamed Lumedyne Technologies, also won the Lunar Ventures competition, a renowned new student business plan competition, sponsored by the Center for Space Resources at the Colorado School of Mines. San Diego State University is the oldest and largest higher education institution in the San Diego region. Since it was founded in 1897, the university has grown to offer bachelors degrees in 81 areas, masters degrees in 73 areas and doctorates in 16 areas. SDSUs more than 34,000 students participate in an academic curriculum distinguished by direct contact with faculty and an increasing international emphasis that prepares them for a global future. For more information, visit www.sdsu.edu. ### Editor's Note: "Live" coverage of the NASDAQ Stock Market opening ceremony on Friday, August 10, from 6:20 a.m. to 6:35 a.m. PDT is available via satellite on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Jolene Libretto at (646) 441-5220. |
