FOR IMMEDIATE RELEASE

Students' Best Business Ideas Face Tough Test at Venture Challenge
20 Semifinalists to Compete at Business Plan Competition March 27-28
Hosted by San Diego State University's Entrepreneurial Management Center

SAN DIEGO, Wednesday, March 26, 2003 - The best and brightest up-and-coming entrepreneurs will be in San Diego March 27 and 28 to compete in Venture Challenge 2003, San Diego State University's 14th annual international student business plan competition.

Twenty teams of MBA students, hailing from the United States, Mexico, Canada and Sweden, will compete for a $15,000 grand prize. More importantly, they will also get feedback and be mentored by the competition's judges - seasoned investors, entrepreneurs and financial professionals who can give the students the priceless knowledge they need to thrive in today's tough climate for creating businesses.

"This year's Venture Challenge takes place in a volatile market that has hampered the start-up of many companies, a problem that has been exacerbated by the current military conflict," said Sanford Ehrlich, executive director of SDSU's Entrepreneurial Management Center (EMC). "While one team will walk away with the grand prize, all competitors will learn the tools of survival as they seek funding for their ventures in this difficult environment."

Schools from the following teams are participating in Venture Challenge 2003: Bond University, Case Western Reserve University, Carnegie Mellon University, Duke University, Georgia Institute of Technology, I.T.E.S.M. (one of Mexico's leading technical universities), Indiana University, Kennesaw State University, San Diego State University, Stockholm School of Entrepreneurship, University of Georgia, University of Manitoba, University of Michigan, University of Nebraska-Lincoln, University of Oregon, University of Southern California, University of Texas, University of Toronto, and the University of Wisconsin.

"These teams are coming from some of the best business schools around the country and around the globe, and it will be interesting to see how their plans and presentations reflect the dynamic market changes that have occurred," Ehrlich said. "The students' business plans range from businesses that would generate clean energy, to those that would manufacture unique medical devices, to a communications company that would utilize high-end technology at low-end costs."

Judges for Venture Challenge 2003 include senior executives from BioLucent, Ernst & Young LLP, Price Club and several other top local, national and internation businesses and venture capital firms.

The schedule for Venture Challenge 2003 includes:

· March 27 -- Business Plan Exhibit Fair. Preliminary rounds of competition and feedback sessions between students and judges.

· March 28 - Final round of competition and awards ceremony.
Locations, times and event information are available at www.sdsu.edu/emc.

TEAMS & BUSINESS PLANS

The following list provides the participating students, faculty advisor and a brief description of the proposed business for each university competing in Venture Challenge 2003:

Bond University
Students: Mark Goodwin, Andrew Macarthur, Ross Wilson, Louis Young
Faculty Advisor: Noel Lindsay
Plasvacc(USA), Inc. is a canine plasma product that is used to treat a wide variety of canine illnesses and infections. Canine plasma is required in cases of major tissue damage (e.g., injuries sustained during motor vehicle accidents) or during the performance of major surgery. Plasvacc(USA), Inc. complements conventional veterinary treatments.

Case Western Reserve University
Students: Adam Bennett, Chris Fennig, Hank Voss
Faculty Advisor: Cyrus Taylor
Nanostar's revolutionary nanosatellite technology provides a low-cost communications channel for transferring data from vast arrays of fixed and mobile devices to its clients. It will target "killer applications," including tank monitoring and electric meter reading services, and achieve competitive advantage by developing its own monitoring hardware and communications infrastructure.

Carnegie Mellon University
Students: Daniel K. Beaven, Robert Tzucker
Faculty Advisor: Thomas Hajduk
GatorPoole markets manufactures and installs "grid-connected" distributed power generation systems. GatorPoole's patented APECS fields unit enables the company to operate a dispersed network of grid-connected power systems as a single unit. Through collective bargaining and real-time information, GatorPoole will integrate these systems into the marketplace and help realize their economic benefit.

Duke University
Students: Jonathan Meyers, Christopher Rieger, Nathaniel Beyor, Daniel Burnett
Faculty Advisor: Jim Sheldon
Gastric Retention Technologies (GRT) is a biomedical device start-up company focused on the treatment of obesity. Employing its novel, patent-pending technology, GRT promises to provide effective reduction of the stomach in a completely non-invasive manner, but with similar benefits as the horribly invasive gastric bypass. Targeting a market of 150 million people in the U.S. alone, GRT hopes to have a product ready for commercial launch by the end of 2003.

Georgia Institute of Technology
Students: Robert DiCecco, Trace Hawkins, Leland Marcus, Sebastian Henry
Faculty Advisor: Pat H. Dickson
Advanced Audio Technologies will develop, manufacture, and market an innovative optical microphone technology that is significantly more sensitive yet smaller than existing technologies. Advanced Audio Technologies will target current manufacturers of hearing aids.

Indiana University
Students: Jon Beasley, Charles Johnson, Koruth Kythaparampil, Doug Karpa- Wilson
Faculty Advisor: Elizabeth Gatewood
Viento Solutions exists to serve the needs of affluent, environmentally conscious homeowners by providing a unique, affordable, utility-independent, hybrid wind-hydrogen electricity system for the home. The green energy market Viento Solutions serves will grow enormously in the next five years as the system transitions from a premium alternative to one that is cheaper than existing options.

I.T.E.S.M. Monterrey Tech
Students: Raúl Ignacio Hernández Aranda, Freddy Eduardo Reyes Leaño, Rubén Chávez Valenzéla
Faculty Advisor: Dolores Gonzalez
HomeSeg is an enterprise in the residential accessory market. The company designs, produces, and sells products that allow people to control home appliance and services, such as lights and door locks through the Internet.

Kennasaw State University
Students: Vicki Berget, Emily Hanlin, Nathan Ives, Todd Watkins
Faculty Advisor: Gary Roberts
NonProfit Florals Inc. will assist non-profit organizations in developing a continuous revenue stream, without overhead expenses by providing them with individualized floral networks (i.e., Humane Society Floral Network). Each network will offer contemporary floral arrangements and gift baskets with a satisfaction guarantee.

San Diego State University
Students: Michael Jue, Duncan McLaren, Trevor Page
Faculty Advisor: Alex DeNoble, Harvey Goodfriend
TXS® aims to become a leading brand in the action-sports industry by providing enthusiasts with innovative high quality, environmental conscious products that will improve their sporting experience. TXS will first launch its patent pending TXS tail systems, followed with a variety of other hard good products for the surf industry and transition to the soft goods segment of the action sports industry.

Stockholm School of Entrepreneurship
Student: Joel Jacobsen
Faculty Advisor: Terrence Brown
Redbet Ltd. will provide European sport gamblers with an online betting exchange that will allow them to wager against one other.

University of Georgia
Students: Michael Buckley, Christopher R. Griggs, Luis E. Imery, Frank E. Marley,
Faculty Advisor: Charles W. Hofer
International Cash Connection (ICC) is a Georgia-based LLC that will serve the international cash transmittal needs of the Georgia and North Florida Hispanic immigration populations through the sale of its CasaLink TM prepaid international remittance card. The CasaLink TM international remittance card allows customers to send cash home more safely, quickly, and conveniently than any other remittance service operating in this market today.

University of Manitoba
Students: Kevin Michaluk, Michal Miller
Faculty Advisor: Robert Warren
PlasiaTEK is a medical solutions provider that will develop, patent, and market innovative devices for use in the healthcare industry. PlasiaTEK is currently poised to launch its first product, an ultrasound based device, which will revolutionize the way anesthesiologists and emergency responders perform endotracheal intubations.

University of Michigan
Students: Scott Baron, Bukola Jeieloye, Erik Wurster
Faculty Advisor: Paul Kirsch
Developing Power seeks to be the first rural electrical company to combine various innovations to provide clean, cost-effective and locally sustainable energy to hundreds of thousands of rural villages in developing countries. DP focuses on the implementation and integration of hybrid renewable energy sources, mini-grid systems design, and micro-enterprise capacity.

University of Nebraska-Lincoln
Student: Ken Sapp
Faculty Advisor: Dixie Doughty
Gerisys is a franchising model for closed-door pharmacies catering to long-term care facilities (e.g., nursing homes).

University of Oregon
Students: Joseph Beck, Caroline Palmer, Mark Wall
Faculty Advisor: Don Harkins
Aqua Essence is a low-cost, easy-to-use, and environmentally-sound arsenic removal solution that exceeds the regulatory requirement and protects communities from arsenic in drinking water. Arsenic in drinking water is a carcinogen, and the EPA has drastically lowered the allowable concentrations in drinking water for 2006.

University of Southern California
Students: Adrian Hightower, Christopher Lohmann
Faculty Advisor: S. Mark Young
Enhanced Energy Systems will design and install Waste Heat Power Generators on gas-turbine electric generators. The product will transform otherwise wasted energy directly into additional electricity, thus improving system efficiency by approximately 3%. The goals of the company are higher profits for its customers, lower emissions and a reduced dependency on foreign oil.

University of Texas, Austin
Students: Edward Calvin, Andy Rose, Tamara Young
Faculty Advisor: Gary Cadenhead
Organic Energy Systems capitalizes on global initiatives for clean energy by making and marketing economical and environmentally friendly distributed energy systems using next generation biomass fuel technologies.

University of Toronto
Students: Elena Andreeva, David Forshtendiker, Kenny (Yu Kai) He
Faculty Advisor: Joseph Paradi
Sapere Technologies is an innovative start-up company that aims to become the leader of driver and passenger safety on the road. In particular, the initial product line will address the market niche of driver fatigue and drowsiness detection while behind the wheel.

University of Wisconsin, Madison
Students: Shailesh Ghimire, Dylan Kaul, Shuba Subramanian
Faculty Advisor: Phil Greenwood
Dysphagia Solutions, Inc. is a provider of a proprietary medical device technology to diagnose the cause of and correct Dysphasia (i.e., difficulty in swallowing). The company will target the technologies to medical case providers especially focused treatment of stroke victims.

ABOUT VENTURE CHALLENGE

SDSU's Entrepreneurial Management Center, a program in the College of Business Administration, has hosted Venture Challenge since 1989. The event has drawn teams from across the nation since 1991 and internationally since 1997. In addition to the competition, judges meet with each team in a spirit of consultation and mentoring so that the students can gain insight on how to turn their business plans into successful ventures. Venture Challenge's major sponsors include Business Ventures LLC, QUALCOMM Incorporated, the Nasdaq Educational Foundation, and JBM Ventures.

ABOUT THE ENTREPRENEURIAL MANAGEMENT CENTER (EMC)

The EMC (www.sdsu.edu/emc) was created in 1982 to provide SDSU students, organizations and individuals with education focusing on the application of the underlying principles and perspectives of entrepreneurship. The EMC's objective is to help people improve their chances of achieving success by becoming immersed in all stages of the entrepreneurial process in the classroom and the marketplace.

San Diego State University is the oldest and largest higher education institution in the San Diego region. Founded in 1897, SDSU has grown to offer bachelor's degrees in 78 areas, master's degrees in 62 areas and doctorates in 14. SDSU's more than 33,000 students participate in academic curricula distinguished by direct contact with faculty and an increasing international emphasis that prepares them for a global future. For more information log on to www.sdsu.edu.

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