International Graduate Student Business Plan Competition
Silicon Solar Solutions LLC wins $10,000 and in-kind prizes for their plan to bring higher efficiency, lower cost solar power to the world with new technology
At a time when ‘Going Green’ is weighing heavily on society’s collective conscience, a team of entrepreneurially-minded graduate students from the University of Arkansas have proposed a compelling technological leap winning them $10,000 and first place in the Licensing Executives Society Foundation’s International Graduate Student Business Plan Competition.
The Competition, hosted by the LES Foundation along with the Licensing Executives Society (USA & Canada) and the Licensing Executives Society International (LESI), is now in its 7th year. It attracts student entrepreneurs from across the globe who submit business plans that hinge on groundbreaking technologies and services.
Silicon Solar Solutions (SSS) is working to commercialize a patented materials process for creating large grain polysilicon. The process, which is based on technology developed at the University of Arkansas, addresses a key problem for the solar industry by allowing manufacturers to increase solar panel efficiency and reduce costs. SSS has already proven the process through a prototype solar cell and intends to license their core intellectual property (IP) to existing solar manufacturers.
University of Arkansas was the Grand Prize Winner with their plan for Silicon Solar Solutions. Students Stephen Ritterbush, Seth Shumate, Douglas Hutchings, and Brent Bertelsen accept the award.
“Solar power is in limited use today because it is simply too expensive,” said Stephen Ritterbush, Vice President of Communications of SSS. “Materials can account for 78 percent of the total product cost of a solar panel. Our technology would save manufacturers up to $134 per solar panel, or over $200 million per year for a large manufacturer who produces an average of 1.5 million panels annually. We feel this has huge implications for making solar power a more affordable option here and around the world.”
This win represents the latest success in the team’s impressive run on the business plan competition circuit. They recently took 3rd place at the prestigious Global Moot Corp Competition.
“Students who participate in our competition learn the tremendous value IP and licensing can have when working to build a business with a sustainable competitive advantage,” said LES Foundation President Arthur Rose. “They learn this through mentorship from LES members and comprehensive feedback on their plans from world-class judges. In addition, our five finalist teams receive all expenses paid trips to attend our Spring Meeting where they attend an IP basics course, educational workshops and network with industry professionals. It’s a much more comprehensive approach than is offered by more traditional business plan competitions. We hope to provide students with an IP knowledge base and industry connections that will help them throughout their careers.”
In addition to a $10,000 cash prize, SSS will select from a pool of in-kind prizes worth up to $85,000 from donors including Akin Gump, Fasken Martineau, Finnegan, Knobbe Martens, MBHB and Sim & McBurney.
In addition to announcing the Grand Prize Winner, LESI presented its $5,000 Global Award to Encase™ bushfire shelters from Swinburne University of Technology, Australia. Each year, this Global Award is presented to the team whose plan best deals with IP rights and their use in the global business environment. This is the third consecutive year that Swinburne University has received the award under the guidance of advisor Seth Jones.
In all, nearly 40 teams entered this year’s competition. Finalist teams included:
• CADIA Technologies from the University of Pennsylvania, United States
• CamGaN from the University of Cambridge, United Kingdom
• Green Jelly from Duke University, United States
In addition to their trips to the Boston meeting, each runner up team receives $1,000 and an opportunity to select from the pool of in-kind prizes.
For more information on the LES Foundation and the Competition visit www.lesfoundation.org.
