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Press Release

UNM STUDENTS TAKE HOME $25K IN UNIVERSITY-WIDE TECHNOLOGY BUSINESS PLAN COMPETITION

April 7, 2006

(Albuquerque, NM) After months of sweating the details and false starts – and despite the heavy load of classes associated with being a full-time student, 17 teams presented today at the University of New Mexico’s first Technology Business Plan Competition. A who’s who of New Mexico venture capitalists, including VSpring’s Paul Ahlstrom, Verge’s Ray Rasosevich, and New Mexico Community Capital’s Jarratt Applewhite, whittled that group of 17 down to six finalist teams and then awarded first, second and third place prizes worth $25,000, $10,000 and $5,000 to the top three teams.

Satyrne Biotechnologies, a company focused on cranio maxillofacial surgery products and simulation software, took home the Michael Gallegos Prize for Entrepreneurship, totaling $25,000 and accompanied by $2,500 in services from accounting firm Grant Thornton. Team members Ryan Smith and Scott Lovald are graduate students at UNM, Smith in management at the Anderson Schools and Lovald in manufacturing engineering.

The Mirror Image Technologies project, which provides a business plan for organocatalyst pharmaceutical production, won the Technology Venture Corporation/Lockheed Martin-sponsored second prize of $10,000. The business plan was produced and presented by UNM PhD chemistry student and Anderson MBA grad Ben Njus.

The HealthOne team won the Honeywell-sponsored third prize of $5,000. Anderson Schools MBA candidate Pranav Patel presented for his team their plan to provide banking services to the healthcare industry.

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The Anderson School of Management at the University of New Mexico is dedicated to excellence in professional management education. At the Anderson School, faculty, staff, and students are committed to shaping the intellect and character of the next generation of business leaders, advancing the knowledge and practice of management, promoting economic development, and building a vibrant intellectual community that serves the highest and best interests of all our stakeholders.

The School was founded in 1947 and now offers more than a dozen concentrations at the BBA and MBA levels and is accredited by the Association to Advance Collegiate Schools of Business in the top 20% of business schools in the nation. The School is funded by the State of New Mexico and further support is generated by The Anderson School of Management Foundation. For more information, the public can visit www.mgt.unm.edu, email info@mgt.unm.edu, or call (505) 277-6471.

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