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). :)
