University of Texas at Dallas Showcases Innovative Solutions at Big Idea Competition
The Big Idea Competition, a “Shark Tank”-style pitch competition hosted annually by the Institute for Innovation and Entrepreneurship (IIE) at The University of Texas at Dallas, returned to the big stage April 17 with a little bit of added intrigue as seven competitors vied for top investment prizes in two categories.
For the first time, the guest judges had the discretion to decide the amount of prize money awarded to each startup team.
“We believe that granting the judges greater discretion in determining the recipients of prize money would not only enhance their engagement but also introduce an element of intrigue for the audience,” said Leon Jacobson MBA’22, assistant director of IIE.
In the student competition, digital platform FoodiFy won the top prize of $10,000. Founded by psychology senior and Eugene McDermott Scholar Anisha Holla, FoodiFy connects social media influencers with restaurant owners who then pay the influencers to taste-test the food and post about the restaurants. According to Holla, FoodiFy has worked with 25 restaurants in North Texas and is on track to make $1.5 million in gross revenue this year.
“Winning this competition will allow us to build out the restaurant outreach team we’ve needed for so long,” Holla said. “We already have over 250 influencers across the United States on our platform; we have our technology in place; and we have the track record of helping over 20 restaurants in Dallas grow their lines. Now it’s just a matter of reaching new restaurants that could use something like this, not only in Dallas but across the U.S.”
Step Up, led by business analytics graduate student Asad Moulvi, was awarded $8,000. The mobile application helps students prepare for standardized college admissions tests by gamifying the study process and using artificial intelligence (AI) to source study questions. Step Up also won the Audience Choice Award, which was presented for the first time, with 36% of the votes.
Two companies received $1,000 each: Yong Bros, a game development studio led by finance senior Ralph Yongoueth, and Sesame, led by computer information systems and technology senior and National Merit Scholar Ananya Sammidi and computer science senior Aditi Mungale. Yong Bros creates games that combine innovative mechanics with strong intellectual property-focused content on the Roblox platform. Sesame is an AI-powered platform that organizes digital file storage systems like Google Drive and Box.
In the alumni competition, Rick Tett MS’21 and his team at Glydr — an innovative dual-pedal controller that allows video game players to incorporate their feet into gameplay — won the $10,000 top prize.
“Winning the Big Idea Competition as an alum of this great school means a lot to me,” Tett said. “The timing was great because the prize money provides the funds we need to build our branding and our new website, where we will be taking preorders.”
Glydr recently closed an oversubscribed Kickstarter campaign in which the team sold 453 of its controllers.
Two companies were awarded $5,000 each. Prosper AI, led by founder and CEO Andrew Denton BS’15, MS’20, is a career-matching platform that uses AI to facilitate quality hiring decisions efficiently. PriceTect, led by Sahil Patel MA’23, focuses on improving the change order process for construction projects by using AI-driven cost estimates.
“The Big Idea Competition is a cornerstone event that ignites the creative minds of students, alumni and researchers,” said Carol Marcus-Rehtmeyer, executive director of IIE. “It provides a platform to showcase groundbreaking ideas and transform them into viable businesses. This competition is more than just a contest; it’s a celebration of innovation that empowers participants to bring their entrepreneurial visions to life, fostering a vibrant ecosystem of growth and discovery.”
The competition’s judges were Herb Weitzman, founder and executive chairman of Weitzman; Michael Gorton MS’88, co-founder of Teladoc Health; Kevin Lavelle, founder and chairman of the board of Mizzen+Main; and Lynn McBee, CEO of Young Women’s Preparatory Network.
Sponsors of this year’s competition included the McKinney Economic Development Corporation, Vela Wood, Baker Tilly, Silicon Valley Bank and JPMorgan Chase & Co.