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SMU Business Plan Competition Winner: LAB802

February 20, 2008

Last week I mentioned I was going to be judging a business plan competition for SMUs MBA program.  After reading some of the business plans I was sort of dreading the event, but to my surprise I had a lot of fun and heard a few great ideas.  The winner was a group of guys from a company called LAB802 (and I forgot to ask what significance the name represented).  I hated their business idea, but I was quite impressed with the team.  Their plan was by far the best and their presentation was very well thought out.  I couldn’t help but think of the old cliche, “…we invest in the team, not the plan.”  After meeting Alex and Matt I finally understood what all those VCs had meant.  I am convinced these guys could build a great business ~ if only they would find a better idea (guess they need to find one of those guys with a $20 idea to join their team).  :)

Written by Alexander Muse · Filed Under Blog, Venture Capital 

Comments

One Response to “SMU Business Plan Competition Winner: LAB802”

  1. Sergey Maslyakov Says:
    February 24th, 2008 at 4:50 pm

    Alexander,

    This is Sergey Maslyakov of Leapture team.

    Thanks a lot for serving as a judge at SMU Business Plan Competition. The feedback we received form the committee was precise and very valuable. You pointed out the issues we had the most internal debate about. This competition was more than just a contest, it was the best reality check we could think of.

    /Sergey

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