News in Brief: Competition Awards Venture Capitalists



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The third annual National Social Venture Competition awarded $80,000 in prize money to business groups on Monday.

The Regale Corporation won the $25,000 grand prize as Best Blended Value Business for its proposal to replace foam and plastic consumer packaging with fibers made from paper and water.

Wilson TurboPower and the Bronx School of Arts each won $25,000 grand prizes in the high-growth and the medium-growth categories, respectively.

The National Social Venture Competition is a collaboration between UC Berkeley's Haas School of Business, Columbia Business School and Goldman Sachs. The competition awards up to $100,000 annually in seed capital to businesses that place emphasis on social responsibility and profitability.

Other finalists had plans for a public school based on the arts and a tissue-engineering approach for pediatric heart surgery.

This year 77 groups applied from 31 different business schools, but the program hopes for more next year.

"We're hoping to expand to more universities in the United States, as well as Canada and Europe," said Stephanie Tibbetts, program coordinator at Haas. "Bigger and better. That's the idea."

Mike Heath

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