NuMat defeated 37 teams from top MBA programs worldwide.
The competition was held last week at the University of Texas at Austin’s McCombs School of Business.
NuMat Technologies designs and creates high-performance materials to store clean fuels and produce them on a large scale for industry.
The NuMat Technologies team, Chris Wilmer and Tabrez Ebrahim, won a $135,000 package including Austin Technology Incubator office space, mentoring and consulting services; a full-page ad in Inc. magazine; $25,000 worth of consulting with the McCombs entrepreneurship faculty; and cash. The winning team will also close the NASDAQ Stock Market on July 27th.
NuMat Technologies’ COO Tabrez Ebrahim received his B.S. in Mechanical Engineering from the university’s Cockrell School of Engineering. Ebrahim has also worked with cleantech startups at the Austin Technology Incubator, which has helped 200-plus startups raise over $1 billion in capital.
Other prizes awarded:
• Paramaxx from Thammasat University in Thailand won a $10,000 Wells Fargo Clean Energy Prize. The startup makes a product that can extract valuable natural minerals such as magnesium, nitrogen and phosphorus from industrial waste.
• Athena Laboratories won a $5,000 first runner-up prize for its FemtoSmooth™ laser technology that can treat cellulite in a minimally invasive, less painful manner.
• Ischiban from the University of Cincinnati won $3,000. The medical device startup company develops comprehensive diagnostic and monitoring systems to aid in the assessment of neurological status for conditions such as stroke.
• Sustainable Agriculture Solutions (SAS) from Universidad de Los Andes in Colombia also won $3,000. The company will produce an enhanced-efficiency fertilizer incorporating a patented nanotechnology called CDS® that protects crop nutrients, saving in fertilizer cost, increasing productivity and safeguarding the environment.