U. students' firm wins $40,000 prize

Wasatch Microfluidics Inc., a biopharmaceutical company, has won the 2005 Utah Entrepreneur Challenge, and with it a $40,000 prize and in-kind services to grow the business.

More than 500 Utah university and college students competed in this year's challenge for the most promising business plan.

As part of the challenge, the teams were required to submit an executive summary, which was evaluated based on feasibility, creativity and entrepreneurship. The top 25 were then assigned a mentor, who supported the teams as they developed their business plan. From the 25 teams, a 10-member panel chose 10 finalists, from which the winners were chosen.

Wasatch Microfluidics focused on commercializing a "microspotting technology for protein-based pharmaceuticals and biological research," according to a statement released by the University of Utah, the event host. Working prototypes of the firm's technology have been tested, and preliminary results are promising, the statement said.

The challenge's runners-up were BilliardEx, which markets billiard tables, and Cartoon Solutions, which offers business animation services including animation, cartoons, Web site design and mascot creation. Both companies received $5,000 in cash, plus in-kind services.

Wasatch Microfluidics was made up of students from the U., while the BilliardEx team included U. and Brigham Young University students. Cartoon Solutions was made up of students from Utah Valley State College.