May 3 2006 (NEW YORK and MOUNTAIN VIEW) – Jungle Media Group, publisher of award-winning Jungle magazine, Fenwick & West LLP, the leading law firm for venture funding and technology start-ups, Knob Creek Bourbon and Gevril watches announce the winners for the 2006 Jungle Business Plan Challenge. This was the sixth year for the prestigious international competition.
As in previous years, the Challenge was open to entrepreneurs from around the world; with the criterion that one of the founding team members must be a current candidate for a master in business administration (MBA). Judges first narrowed the field to 24 teams from nearly 200 from across the country and from as far away as Israel, India and Pakistan. The 24 semi-finalist teams flew to Fenwick & West's Silicon Valley offices to pitch their business plans live in front of a distinguished panel of judges comprised of leading VCs, entrepreneurs and attorneys. Hummer Winblad Venture Partners, Allegis Capital, Right Hand Partners, New Enterprise Associates, vSpring Capital, Prism Venture, Partech Venture Capital, Sofinnova Ventures, DFJ Suriya Ventures, Arrow Path Venture Capital, Panorama Capital, Levensohn Venture Partners, Walden Venture Capital, Capital Valley Ventures, Formative Ventures, Mayfield Fund and Adobe Ventures were the elite organizations represented among the judging panel.
The winner of the Challenge was SunPhocus Technologies, of the University of Chicago, was formed in September of 2005 to commercialize an innovative solar concentrator that reduces the cost of building- integrated photovoltaics (BIPV). The 2nd place prize went to Savium Technologies, from the University of Michigan, engages in the design and production of low-cost, high-performance electronically scanned array (ESA) radar systems. Past winners include University of Michigan (2005 & 2003), Harvard (2004), Berkeley (2002), and MIT/Duke (2001). The teams won a combined total of $80,000 in cash, legal services and Gevril gift certificates.
"Fenwick & West is the leader in representing today's entrepreneurs and the venture capitalists who back them. This competition is about tomorrow's leaders," stated Sam Angus, a partner in the firm's start-up and venture capital group, "By working directly with the Challenge, we are tapping into tomorrow's visionaries, and presenting an outlet for top investors to meet them, and vice versa."
"This year's event attracted top-level entrepreneurs," stated Jonathan McBride, a co-founder and Publisher of Jungle. "We are thrilled to be providing a platform for these dynamic entrepreneurs to build the next group of innovative, successful companies."
Jungle's properties include award-winning Jungle and Jungle Law magazines, Web sites, conferences and books. Jungle Media Group is also a leading publisher of diversity and diversity recruitment titles, including Savoy Professional, a career and lifestyle magazine for African-American executives, and Hispanic Professional, which it publishes in partnership with the National Society of Hispanic MBAs. In 2004 JMG published Your Career, in partnership with the Wall Street Journal. Jungle Media Group also publishes on behalf of over 20 top universities and educational institutions around the world.